Morgan Stanley managing director of China’s nternet investment in the three key steps of entrepren

Morgan Stanley managing director of China’s nternet investment in the three key steps of entrepren

China’s Internet industry, should be the most competitive industry in China, if you leave a little one or two years, then you will not be able to keep up with the latest concept. In recent years the ups and downs of the video, SNS, group purchase, the electricity supplier to the mobile Internet business, the army fought.

According to the statistics of the

of Morgan Stanley, the Chinese Internet is about 230 thousands of websites, and risk investment in China hot money, about half of all in the Internet industry, a number of the most intelligent young man, also in the Internet business.

in such a competitive situation, 6 companies in order to have a listing of 1. So far, the listed companies have listed on the issue price of 60% is also listed below, then need to maintain financial transparency, and the need to explain to investors, often live more hard in the already listed companies, there are 70% market value of the two companies occupy, a Tencent, is a Baidu.

, the Internet industry has not started, "time + luck + hold" have the possibility flourishes, now the threshold for entrepreneurship has become increasingly high, in any field, including segments are no longer a blue ocean. Faced with this reality, many entrepreneurs and investors are confused, how to find a relatively good entrepreneurial direction?

selected pond

iResearch data show that in 2011 China’s online shopping market transaction size of nearly 800 billion yuan, the online advertising market size is $51 billion 290 million, online games market size is $47 billion 620 million, the movie box office is $13 billion 200 million. Which category is more easy to see the pond Daxian, although platform companies are fierce fighting, but the original brand shop on the platform in the traditional enterprise, even on behalf of the operators, are able to have a good profit and space. The pond is big enough to keep a big fish in the future.

focus on business model

optimistic about the pond, second need to focus on business model. Business model is equivalent to the location of the real estate industry, if the house is not a bad place to sell, if the business model is not good, the days will be very hard.


I published a speech before this, Pyramid is divided into three layers, the bottom of the center is a product of the enterprise, including the company, company of game of film making, because they have the risk of product cycle, each 3-5 needs to have a new game to improve their product line. Zhang Yimou and Kaige Chen are both excellent directors, but no one can guarantee that his next movie will make money.

in the middle and high level of Pyramid, is the platform and the community as the center of the enterprise, but also a better business model business, product cycle risk is relatively small. Tencent, for example, half of the turnover from the game, he just needs to provide a platform, and then enjoy sharing. The same example and Ctrip, as a platform for enterprises in the hotel reservation, ticket pre

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