Unlike Jack Ma, pony Ma was affected by the storm effect brought by Zhou Xin, and he was unable to get the first financing from Li Zekai and IDG.

The impact of Zhou Xin is seriously underestimated by the butterfly effect.

This is because the business of the goose factory at this time is mainly QQ, and the users are growing rapidly, but the profit model has not been found.

With Quora in front, Quora has largely subverted the traditional view of investors and Internet entrepreneurs: the more users, the better.

Users don't need more, quality is sometimes more effective than quantity, and the value created by a few quality users is far greater than that of a large number of ordinary users.

Under this new thinking, QQ has no value, and the number of users continues to grow, but these users obviously will not pay, cannot find a profit point, and will continue to devour server resources and network bandwidth if it develops.

It looks like a black hole with no future in sight.

Therefore, IDG Capital, which was originally going to invest, hesitated, and their hesitation caused Li Zekai to also say that he would wait and see.

Watch-and-see, the Nasdaq began to plummet, and this time the wait-and-see time was even longer.

At this time, Pony Ma has begun to rely on the loans of the founders' team to maintain the operation of QQ, and if it can't attract investment, the goose factory will die before it can be started.

Pony Ma is holding the mentality of pulling investment to participate in the Internet conference held in Yanjing.

"We've all been talking about what Americon Internet companies are doing badly.

Coupled with the market's unreasonable pursuit of Internet companies, the bubble has been blown up, in fact, what do you think about the Internet? Because there have always been voices that the Internet has only moved information from offline to online.

It has not brought about any substantial change, the Internet cannot have more impact on the economy, and the profitability of the Internet is only a phantom that cannot be seen and touched. ”

This kind of rhetoric has always been there, and even the future Nobel laureate in economics Krugman holds a similar view.

Bill Gates finally laughed: "Isn't it obvious? Microsoft has been in revenue for more than $10 billion since many years ago.

Last year, Microsoft's annual sales were $19.75 billion, and I believe that this number will continue to grow at a high rate this year. Operating systems and office have been amply proven to be the way people pay for software, further illustrating the need for computer usage.

The same goes for the demand for internet services, as evidenced by both the success of Quora and Yahoo's revenue on advertising.

Even in the worst-case scenario, the value of the Internet as a carrier of information is comparable to that of all traditional media. ”

Before Zhou Xin could throw his words to Yang Zhiyuan, he had already started to speak spontaneously: "I agree with Bill's point of view, the Internet has infinite potential, and now it is the problem of Internet companies, not the Internet itself."

With the development of technology and the innovation of business models, the penetration of the Internet into all walks of life will gradually deepen.

Together, Yahoo and Quora have changed the way traditional media is conducted, and more and more print media are trying to transform the Internet and expand their business online.

Microsoft's office has completely subverted the traditional office model, Amazon's changes to the way of shopping, NewPay's changes to payment methods, and the impact of the Internet has actually been increasing.

In the future, the Internet will only change the world more and more, and it will eventually profoundly change our life, work and society. ”

"In fact, I think people were too optimistic and fanatical about the Internet in the past, believing that the Internet could promote unlimited economic growth and completely change the world.

People tend to overestimate the changes that come with short-term technological progress and underestimate the changes that come with long-term technological progress.

This is also an important reason for the current decline of the Nasdaq index, which is too optimistic in the short term and unacceptable in the face of the superposition of various negative factors.

There has been a decoupling between reality and expectations, and I am also infinitely optimistic about the development of the Internet in the long run. ”

After the others finished speaking, Zhou Xin finally said: "The essence of the Internet is the interaction of information, and it has changed the way information is exchanged in the past.

Traditional one-to-one communication requires many-to-many that can only be conducted offline, and the number of people is limited, and the number of people you can talk to in a party is limited, and the number of people you can talk to is even more limited.

For example, if there are 50 people in a party, you may only be able to talk to ten. But the Internet is different, and the emergence of online forums has made online communication many-to-many from the beginning.

And each sentence can be addressed to a different audience, and you are not only replying to him individually, but also telling all the forum users your views and opinions.

This is just one of the ways in which information is exchanged, and the other changes are happening in many ways.

The way information was exchanged in the past, without exception, was being changed by the Internet quickly or slowly.

Needless to say, I believe that many of you are making or have made products similar to Quora, and have also deeply analyzed the positioning of this product and what needs it meets.

Riot Games may be unfamiliar to everyone, because this website belongs to the subdivision of video games, and its core functions cannot be used in China due to the restrictions of electronic payment.

I can tell you how some of Riot's features are changing the traditional paradigm by allowing users to purchase video games through Riot Games, which is to say online.

Originally released on disc and updated only when major versions appear, the game is now available online and allows players to download booster packs to enrich the game.

Some boosters cost extra, while others don't.

Originally, the game was released from 1 to 2, and major version updates needed to accumulate enough content to release 2, but now there are countless minor version updates such as 1.01 and 1.02 between 1 and 2.

These minor version updates can help game production companies better understand whether their content is truly popular with game users.

Only users who buy the game at the same time can rate the game, and the scoring mechanism allows more and more players to open Riot Games to see the number of ratings and average score of the game before buying a game.

Affected by Riot Games, sales of game magazines plummeted.

Riot Games is a relatively simple internet business model, and all processes can be carried out online, without any offline links.

I'm actually very bullish on the business model of e-shopping, no matter how big the physical store is, its options are limited, and the options for e-shopping are limitless.

This infinity, superimposed scoring mechanism, allows users to purchase based on actual evaluations, and at the same time place online orders and get goods offline. Needless to say, it can be seen from the rapid growth of the number of online transactions of companies such as Amazon and eBay that they have great potential for development.

Unlike online game publishing, e-shopping involves a lot of offline links, because users need to get the product offline after placing an order online. Therefore, I think that e-shopping will in turn promote the development and progress of logistics, warehousing, electronic payment and other industries.

In general, the Internet and traditional industries are complementary and mutually reinforcing, they are not opposites, traditional industries can find new vitality through the Internet, and the Internet will also find ways to meet their needs in traditional industries, and then find their own profit model.

Therefore, I think that the current Internet is still too much about the Internet service itself, and which users are willing to pay for the problems solved by the service, and which users are willing to pay for the problems solved.

Very few people think about it seriously. Zhou Xin looked at the young faces in the audience, trying to find the world-famous second horse in the future.

Before he participated, he got the list of enterprises and participants from Wu Shiqiang.

From this list, he saw many familiar names for later generations, including Jack Horse and Pony Horse.

It's a pity that I didn't find it.

After Zhou Xin finished speaking, Bill Gates took over: "Newman's views are very personal to him.

I've known Newman for a long time, interning at Microsoft the summer he first went to American, and then I heard about Newman shortly after.

The games they developed sold well, Newman and two of my employees jumped out to start their own businesses, and the number of users of Riot Games grew rapidly.

Then I bought some shares of Riot Games from Newman, and then quora and NewPay came out. The biggest difference between Newman and other Internet entrepreneurs I know is that he has a problem-oriented mindset in the strict sense of the word.

The Internet products he makes are always the first to find out which needs can be met, and which of these needs can find profit points.

Among other Internet entrepreneurs, many of them have a wonderful idea, and they think that the product made according to this idea is great, and there will definitely be users who like it.

Before they make a product, they don't think seriously about what needs the product solves. Whether this demand is widespread or small in the user community.

Whether the target customer has enough spending power, they don't care much about that.

Among the people I know, Newman is the only one who makes Internet products in strict accordance with this set of guidelines, and at the same time, he has already thought of a profit model before he starts doing this.

This is really very difficult, and I believe that the Internet practitioners in China here should know how difficult it is to get money from users.

Microsoft also has an internal Internet department, including MSN, Hotmail, which are Internet services, and we also do questionnaires and some business surveys. Users generally believe that Internet services should be free.

Even a few users think that I use your internet service and you should pay me.

Under such guidance, it is really difficult for Internet companies to find a profit model. ”

Bill Gates's words are actually complaining about the open-source sharing spirit of the Internet, which has made Microsoft face a lot of antitrust lawsuits, which try to make Windows open source.

I forgot to thank you yesterday, thank you for the reward that killed me and didn't use the science knife!

(End of chapter)