"The questions just now are all at the product level, or just for Quora as a product.

For practitioners in Silicon Valley, every Newman product deserves an in-depth study, starting with the earliest forms of electronic payments. ”

After Charlie finished speaking, an animation appeared on the screen behind him, which showed a person running to the bank to complete a transfer and receiving a six-digit verification code on the computer.

"Newman creatively brought CAPTCHAs into the world, combining computers and mobile phones.

My friends in the financial industry have said that this is an incredible invention, and the SMS verification code provides an unprecedented convenient and fast way to confirm the right of financial business.

In the past, we needed to confirm that a transaction required a password, a signature, and a person needed to go to the site to verify the identity to complete the transaction, but now we only need to use the mobile phone verification code to complete the transaction clearly and unmistakably.

More and more banks are considering mandating the binding of a mobile phone number when applying for a bank card for a customer.

More and more banks are applying for patents for SMS verification codes from NewPay, and even now we will subconsciously associate SMS verification codes when we see a string of six-digit numbers and letters anywhere.

And this is just Newman's first idea, what an incredible thing.

Newman, how do you see this yourself? ”

Zhou Xin was very proud of his idea of using SMS verification codes to bypass traditional offline game distribution channels.

This method is equivalent to exploiting the loopholes of traditional payment and electronic payment, and finding the backbone of the two.

The captcha was invented by von Lewis, but it's impossible to verify who invented the SMS captcha, and it's almost as much water as water in all applications twenty years later.

Zhou Xin thought for a while and said: "The SMS verification code is purely because I made "Angry Birds" at that time, and then when we negotiated cooperation with the distribution channel, their commission was too high.

In order to avoid the commission, I had an idea.

I just didn't expect SMS verification codes to be so versatile. ”

Zhou Xin paused for a moment and said: "It's like when Babbage invented the earliest computer, he would never have thought that the computer would be able to be applied to such a wide range of scenarios in the future.

Most of the inventions in human history have come from flashes of inspiration in everyday life, and I just captured this flash of inspiration. ”

Zhou Xin thought to himself, I have captured too much aura, and I have intercepted the long river of aura in the next twenty years.

Charlie picked up the information he had prepared and asked, "Up to now, there are about 400 Internet companies in the entire Ameriken stock market, and about two-thirds of them are in the red.

People think that this is the norm because Internet companies have not yet found a stable profit model, and there are also people who think that Internet companies that have not found a profit model cannot enjoy such a high valuation, what do you think about this? ”

Zhou Xin knew that this was a bubble, but his identity and fist were still operating on the market, so he couldn't burst this bubble:

"The Internet is definitely an invention that has changed the whole era, and the value market of Internet companies will give it a fair valuation, and the market is cruel and fair.

People's patience is also limited, and the market value of companies that have not been able to find their own profit model will fall, while the valuation of companies that can find their own profit model will naturally rise.

The Internet is a new thing, and it is not until recent years that the entire market has realized the value of Internet companies, and it is still in the initial stage of understanding value.

Over time, the NASDAQ, New York, and Ameriken stock exchanges, these places will naturally form a complete and accurate valuation system for Internet companies.

Now the whole system and even the whole market are in the process of exploration. ”

Charlie asked this question to set the stage for the next question: "But the market value, the Internet companies you founded have found a stable profit model.

According to the New York Times, for nearly six months, Riot Games has dominated about 30 percent of the video game market, participated in more than 50 percent of game releases, and about 90 percent of game developers said they would consider Riot Games as their distribution channel.

I believe that this number will rise as NewPay becomes more popular.

With the release of the game, Riot Games expects to make a profit of $50 million in the first half of this year, valuing him at nearly $10 billion. ”

At the close of trading on May 28, 1999, Amazon's share price was $2.97 per share, with a total of about 6.88 billion shares and a market capitalization of about $20 billion.

Although the Riot electronics community is not listed, because it has achieved profitability, Amazon has not achieved profitability at this time, and the profit is far away.

The video game market is booming, and Riot's digital community and its own game stores are overwhelmingly leading the way.

Riot's online distribution channel for video games was even more obvious than Amazon's lead in online shopping at the time.

Amazon's competitors at the time were Ebay, while Riot had no competitors, and even there have been voices within Microsoft that they would buy Riot Games as a wholly owned company.

Charlie continued: "NewPay's profit model is also clear, and the money deposited by users in NewPay's virtual account can be used for short-term arbitrage.

In fact, the business model is similar to that of banks, where they can not only do short-term arbitrage, but also do asset allocation.

For example, the long-term and stable part of the funds to buy long-term treasury bonds, and then allocate the liquidity into money market funds, and even use part of the money to make angel investments.

Such an allocation balances both benefits and risks.

Quora also quickly found a monetization model, earning revenue through paid Q&A commissions.

Other Silicon Valley entrepreneurs rarely think about how I'm going to make a profit and how I'm going to make money when they first start their business.

The vast majority of people do it first, and then after getting angel investment, the investors will force them to think about it.

But you don't need investors to force you at all, you've already thought about it.

From Silicon Valley to Wall Street, all investors are waving money and trying to invest in you.

Even if you just write a word on a piece of paper and tell them, I'm going to do this, they won't hesitate to send you money.

I'm curious, Newman, do you care about having a stable profit model in your business process? ”

Zhou Xin's real idea is that I simply want to engage in electronic payment, and all industries revolve around electronic payment.

Since there will be a transaction, isn't it a commission, and the giants of later generations have done this, from WeChat's WeChat tax to Apple's Apple tax.

Another important reason is that he knows that the dot-com bubble will burst, and he wants to sell assets, but he still has to think about reputation.

After all, if you have to set up an investment fund in Ameriken to raise a lot of dollars, reputation is crucial.

Therefore, even if the company founded by Zhou Xin will be affected when the Internet bubble bursts, its valuation will come back sooner or later with the recovery of the Internet.

The ostensible answer was: "Maybe it's because I was poor and scared when I was a child, and my parents died when I was very young, so I've always had a hard time."

I have a special sensitivity to money, and when I started my business, I didn't know how to get investors to ask for money, and all I thought about was how to make a profit for my business.

That's probably what sets me apart from traditional entrepreneurs in Silicon Valley. ”

After Zhou Xin finished speaking, Aimo Wasser's eyes were moist, "Oh~" She was a trainee lawyer in a law firm before and was sent to serve Zhou Xin.

Later, after she helped match the investment in Google, Zhou Xin invited her to be his secretary.

First, because the other party works really hard, and secondly, because it is not bad to find a familiar beauty to attract the eyes.

This interview program also made Aimo know Zhou Xin's life experience for the first time, and compared with her father who is a lawyer, Zhou Xin's growth process is undoubtedly much more difficult.

Charlie's face was also full of shock: "I'm sorry, I didn't mean to mention your sadness. ”

"It's okay, I've always believed that what everyone has and what they lose is conserved, and although I was unfortunate enough to lose my parents, God also gave me insight beyond ordinary people, and of course I always thought that it was the result of their blessing from heaven."

Zhou Xin was admitted to the junior class of Huaguo University of Science and Technology, and then went all the way abroad to study for a doctorate, and his extremely smooth study career was not only based on hard work, but also on talent.

What will he inevitably lose if he gets talent, what he lost in his previous life was the ability to empathize with others, and when others felt sad and excited and happy, Zhou Xin was at a loss, and a question mark appeared in his heart: As for it?

Of course, there is still no ability to empathize, and after the launch of Quora's paid Q&A function, when their team opened champagne in the office to celebrate, Zhou Xin sat alone in the corner and applauded silently.

It's hard for him to fit in.

"I just heard that Riot Games is going to be released, and it couldn't be better news, and I can't wait to invest in Riot Games.

I believe that Riot Games will have a very good performance in the market, will NewPay and Quora be listed in the future? ”

Zhou Xin replied: "I don't know, it's too troublesome to go public, I already feel a headache to operate a company to go public, let alone to operate and list two other companies." ”

Charlie ended the interview after asking a few more questions.

Zhou Xin's participation as a guest in this issue of "Charlie Rose" has been greatly welcomed.

At the same time, the content of this episode of the program is also full of major online forums and even traditional media, because a lot of information is disclosed for the first time through Zhou Xin himself.

"Newman is the best representative of the Ameriken Dream, born in poverty, excellent in school, and relying on his own hard work to achieve success."

"Is upstairs kidding me? Is Newman hard working? Isn't he entirely talented? ”

Today it's 9k more, and my diligence scares myself.

Secondly, after SMIC established a factory, it began to engage in semiconductors, and promoted localized substitution around the upstream and downstream of SMIC's industrial chain.

The protagonist had never been engaged in chip foundry in his previous life, he didn't know about it, and he didn't have any connections, so he definitely couldn't do it on his own.

Finally, for the sake of the crow's diligent face, ask for a monthly pass! Ask for a subscription!

(End of chapter)