This is a speech by liu erhai, an early mobius investor and founding and managing partner of joycapital, entitled "through the devil's passage".In his speech, liu erhai said that China's entrepreneurial development has reached a new stage, which has been upgraded to the all-round competition of products and teams.The rapid growth of enterprises and the strong entrance of giants all require entrepreneurs to determine and create their own unique value.Source: ID: innoangel99. By: Benson
What is the devil's passage?
I share today is the theme of the passage through the devil, now look a lot of companies, including the Shared cycling just mentioned, there was a time you share the bike is too much, the color is not enough, but in almost a year, about the color of the now survive only three.
From previous deals, car, restaurant O2O, video portal to sharing a bike, video broadcast, second-hand car market, we find a common, almost every big industry goes through a baptism.
There are three phenomena in the formation process of this commonality: 1.2. Rapid growth of enterprises;3. Giant entry game.
First, competition escalates rapidly.Once I met an investor in sanlitun who said that your investment in a Shared bicycle was blocking our way. Don't you feel any guilt as an investor?I'm sorry, but the competition is so fast and furious.
2. Rapid growth of enterprises.Mobike has never had a car to eight or nine million cars, and only a year has passed since the current hissing explosion affected tencent's circle of friends.
Why can a company grow so fast?One important reason is that it is now so easy to find users online, so these companies can be successful quickly.In addition, investors' capital holding, also accelerated the growth of enterprises.
A foreign investor once asked me: "how can you give the company money?"Looks very crazy investment, in fact, we know what you're doing, this is the rule of the battlefield, we also have no a way, an influx of capital and promote the development of the enterprise, as a player you have to abide by it.
Big players enter the game.The presence of giants in almost every industry poses a different challenge to friends here: do you want to stand in line?What if the team leader throws someone else?Startups are in a state of panic and anxiety.
From the case, we see the enterprise if want to success, must through the devil channel, must go through competition, enterprise growth speed quick promotion and giant game process of admission, to grow up.
How does "others" get through the devil's passage?
How to get through the devil's passage?Let's go back to the nature of business and the business model.For two examples, we can see how these companies are actually going through, or are going through, the devil's passage.
Example 1: nextev.Nextev mainly outperforms its competitors in technical engineering capability, and most importantly, its engineering capability.
On October 12, 2016, the nextev EP9 set the fastest ev lap speed record in 7 minutes 05 seconds at the nurburgring north ring circuit in Germany.On February 23, 2017, the EP9 set a speed record of 257 kilometers per hour in the unmanned test at the Texas American circuit, becoming the fastest driverless car in the world.On May 12 of the same year, EP9 set a new record with 6 minutes, 45 seconds and 900 seconds.On December 16, nextev officially launched its first mass-produced ES8.
Second example: jd.com.Jd.com doesn't have a lot of technology, and you may be doing better than him.In those days, compared with dangdang, zhuoyue and amazon, which were founded earlier, how did jd.com surpass its competitors?
In fact, the key lies in jd.com's logistics of large goods, which does not have much technology, but makes up the immature part of the value chain.Infrastructure improvements can also create value and help companies cross the evil channel.
Nextev and jd.com's secret to the devil's passage is engineering and infrastructure.
Pleasant capital has made a lot of investment, we have a "investment oriented to the base" investment strategy.The so-called base area means that the area is relatively vast, and we can make multiple investments in this field. We have already invested in a number of projects in this field.Finally, we have a deep network of contacts and deep understanding in this field.