"I think the entrepreneurs who came to participate in the Huaguo Business Program should have said something more or less similar.

Finally, the exclusive secret of Xinxin and even all my entrepreneurship. ”

Zhou Xin successfully whetted everyone's appetite, and everyone at the recording scene couldn't wait to hear the answer from the mouth of the most famous entrepreneur in China.

Maybe this secret can also help them make a fortune, even if they learn 1 in 10,000, they will not have to worry about food and clothing for the rest of their lives.

Zhou Xin said: "That is the vision, the vision is too important.

Taking Xinxin entrepreneurship as an example, when I founded Xinxin, I predicted the explosion of mobile Internet in the future, so we formulated that smartphone chips are our core products at the very beginning.

Including Bluetooth chips, Bluetooth was a novelty in a sense when Xinxin was founded in 1999, this technology is not new, but it is a fresh product for consumers.

We realized that Bluetooth will be an important segment in the future, and then invested a lot of resources in the research and development of Bluetooth chips, and now Bluetooth chips are also the main source of profits for Xinxin.

We can maximize the benefits of Bluetooth technology from many aspects, such as technology licensing, direct sales of Bluetooth chips, and the formulation of Bluetooth technology standards.

After Xinxin entered the Bluetooth chip market, its shipments increased from 20 million in 2001 to 2 billion this year, an increase of 100 times in six years.

Including lithography machines, when Xinxin entered this field, there were Nikon, Canon and ASML in front of them, and we had to buy the initial technology from Nikon, and Nikon will not sell the latest technology, but will only sell the technology that is a generation behind.

But we think there's a lot of potential in this area, and Nikon, Canon, and ASML don't have a lot of technology leads, and we can catch up, so we entered this space.

At the end of last year, we also successfully achieved technological transcendence.

So I think the most important thing is to have a vision, which allows us to avoid some of the pitfalls of other companies, and when the company's leadership uses the vision to make the right strategic planning, it can naturally achieve twice the result with half the effort.

Or even put in a little effort to get ten points. ”

After Zhou Xin finished speaking, everyone thought to themselves, this can't be learned.

Vision is the most difficult thing to learn, because it's too much of a test of talent, even if you form an incomparably perfect system, which has been tested a hundred times before to be correct, just one mistake can be an extremely serious loss.

Taking Zhu Xiaohu as an example, as a veteran investor, he has invested in many companies and has a large number of successful cases, which should have formed his own investment system and fully verified by the market.

In the end, he still missed ByteDance, and the reason for missing it was that he felt that the founder of the Internet had to be wild, and Zhang Yi*Ming was so polite and polite that a missed potential loss exceeded all his past gains.

So the vision is too ethereal to learn at all.

"The vision of the new president believes that the audience in front of the TV and even the people of the whole country can see it, and almost all of the well-known Internet companies in China have invested in it." The moderator said.

Zhou Xin nodded: "Domestic Internet investment is an emerging investment, and I don't intervene much."

The most I can do is say that this latest business model is interesting, and then let Wu Shiqiang take a look.

We have enough bullets, and if I am interested in ten companies, then we will vote for all ten companies, and there will always be companies that can finally run out.

I often say in meetings within Emerging Investments that we are shotguns, not sniper rifles. ”

The host thought that being rich is good, and the investment is so rich, and the investment company is no different from buying vegetables in the vegetable market.

Not to mention that the concept of venture capital is not so popular now, and the vast majority of people are not clear about this investment model.

"Mr. Xin, I'm curious if such an investment model can really make money?"

Zhou Xin said: "In fact, the probability is still relatively large.

Because as long as the business model runs out of one company, it can bring you hundreds of times more benefits.

For example, in e-commerce, we invested in Alibaba at a valuation of 20 million yuan and bought 40% of Alibaba's shares, and later when Alibaba went public, the market value was 20 billion US dollars.

A thousand-fold increase, of course, with subsequent rounds of funding, our shares are diluted, but even after several rounds of dilution, our investment still multiplied hundreds of times.

Speaking of this, it is also more interesting, at that time, it was also a coincidence to invest in Alibaba, at that time, it was on the eve of the bursting of the NASDAQ bubble, and sensitive investment institutions smelled it.

So we actually took over 40 percent of our shares from Goldman Sachs. Because of this, Henry Paulson and I complained more than once that the investment manager at Goldman Sachs was far less visionary than me. ”

Henry Paulson had successfully become the Minister of Finance at this time, and the host lamented that the other party's connections in Ameriken were too extensive, covering Silicon Valley, Wall Street and Washington.

Such tz value is also the reason for Zhou Xin's high status in China, you must know that Ameriken has not yet fallen into a geopolitical dilemma.

Because Alibaba focuses on B2B trade, it is completely different from later generations, with the blessing of NewPay and the success of its overseas strategy, Alibaba has developed rapidly in the early millennium, and was successfully listed on the NASDAQ last year, with a market value of $18.9 billion, up 36% on the same day, exceeding $20 billion.

"It seems that my vision is not enough, I didn't expect investment to be so profitable.

It is true that the primary market is much more profitable than the secondary market, but it is also an ability to select a company like Alibaba.

At the turn of the century, I remember the Nasdaq plummeting for several days, and there were very few people who had the courage to invest in Internet companies.

I still remember that the first World Internet Conference was held in Yanjing, and the new president returned to China to attend that meeting, and then announced in the middle of the meeting that he would invest 1 billion US dollars in China's Internet industry to help China's Internet industry survive the winter.

At that time, I still remember the title of Shenhai Economic Daily very clearly: "Zhou Xin returned to China frequently, and real money is optimistic about the development of China's Internet industry".

What I regret the most now is that the Internet companies that invested in the new investment at that time were all reported by the media, and I should have invested a little bit in it. ”

Even on Huaguo's stock forum, such companies are uniformly classified as those in which Zhou Xin has invested.

However, any newly invested company that goes to the NASDAQ or Hong Kong stock market to be listed can be looked down upon by local investors, and more people will come to participate in the roadshow.

If Zhou Xin personally expressed this optimism in public or on Weibo, the roadshow would not have been done, and the company's shares would have been subscribed.

"To be clear, emerging investments are not my operation, and there are a lot of cases of failed investments in it.

If you fail to invest, it has nothing to do with me. ”

The host said: "It's just a joke, I know the risks of investing very well.

Back to business management, Mr. Xin, the points you just mentioned are also possible for other entrepreneurs to do, and the last point of vision is indeed something that everyone can't do.

I think the reason why so many people are chasing after the new core lithography machine on the market is also because of everyone's trust in your vision.

We all know that there are many technical routes for the future development of lithography machines, and everyone believes that you can create miracles and choose the right route, which is why you are so fanatical. ”

Zhou Xin was noncommittal: "Maybe, but this is a small probability event after all, and there is no need to gamble your net worth for this kind of small probability event." ”

The host said: "It is precisely because of your aura that everyone will feel that this is a high probability event."

However, our program has fully reminded everyone of the risks, and I hope that the audience in front of the TV will be cautious in investing. ”

After the show was broadcast, it sparked heated discussions, because this was the first TV talk show that Zhou Xin participated in in China, and it was also a live broadcast.

Although it is a live broadcast with a ten-minute delay, it is also a live broadcast.

In addition, a large number of topics of interest are discussed, such as new core lithography machines, emerging investments, why return to China, future development, and so on.

A series of hot topics made this show quickly out of the circle, and related topics quickly dominated the list on the Oasis hot search.

"It's good not to be bad for money, I don't care about the stock price of my own company at all, but I have to take the initiative to burst the bubble."

"I said that the new core lithography machine is overestimated, and Boss Zhou personally came out to say that the market value of the new core lithography machine is too high, and a group of financial bricks are arrogant!"

"Zhou Xin is a company, he knows a big A!"

There are also a lot of similar remarks, especially for investors who just bought Xinxin lithography machine stocks on the same day, A shares are T+1, and they can't be sold on the day of purchase.

What if the content of a new evening TV interview causes the stock price to plummet tomorrow? Aren't you buried in it?

So much so that Zhou Xin didn't understand that Big A was crazy by netizens.

"Zhou Xin is a chipmaker, he knows a fart lithography machine!"

"Zhou Xin is an Internet company, he knows the market value of a fart!"

Similar remarks emerge one after another, and the remarks are so rebellious that everyone deconstructs them as entertainment.

In the era when everything can become a stalk in later generations, some can be entertained and deconstructed.

But there are also shows like Max meets Confucius, which are even more unworthy of being played because of the high degree of rebellion, and are unanimously spurned by social software with different political preferences, and they don't even deserve to be played memes.

Zhou Xin was known as the best product manager when he was in Silicon Valley, and later he was known as the king of the Internet.

It can be seen from his talk about the founding process of Xinxin that he has thought about how Xinxin will develop, what its fist products are, and what its R&D points will be from the very beginning.

It's no wonder that when Zhou Xin started his business in Silicon Valley before, I watched him participate in Charlie Rose's talk show and repeatedly talk about the importance of the Internet business model.

Even in the field of chips, Zhou Xin still considered the business model and the issue of realization at the beginning of his business.

This kind of business sense and vision is really worth learning from all entrepreneurs. ”

(End of chapter)