Democracy and Autocracy

-The waves behind the Yangtze River push the waves ahead. What does the success of a new generation depend on? Rely on luck

-I still have a lot of desires、Tangled、temptation，So 188bet online live casino process is destined to be very painful

36氪: Is the personality of the founder the determining factor of an organization’s genes？How much do 188bet online live casino think 188bet online live casino determine the latitude and longitude？

Zhang Ying：I think any 188bet online live casino institution that does well，They are all reflecting the founder’s style，100%。There are many important factors that contribute to Jingwei’s current success，Including Xu Chuansheng, who is the founder of all of us、Shao Yibo，And the partners we have worked with for many years。

But I 188bet online live casino not deny a fact，Democratic centralism 188bet online live casino bring efficiency superiority。Starting from 2010，3-5 key strategies of Jingwei every year are all thought up by one or two people: including the crowd tactics when the mobile Internet first emerged，Including taking the lead in poaching young people from the Internet industry to make investments、Established RMB fund very early、Establishment of the team after the big investment, etc.。

36氪: Many traditional U.S. dollar funds did not realize the need for RMB funds until 2015 or even 2016，Why does the latitude and longitude have such a large lead time？

Zhang Ying：We started 188bet online live casino in 2010 (RMB Fund)。If an investment institution wants to be the top in the industry，You cannot rely solely on the US stock listing window that opens only one or two years。China’s entrepreneurial wave is very scary、Coming in waves。188bet online live casino cannot be because there is no RMB configuration in the currency，You cannot invest in companies that were last listed in the country。If you want to become the top investment institution in the industry，I want to have all the weapons, bullets and perfect currency configuration。188bet online live casino’s that simple，Since I figured 188bet online live casino out early，Then do 188bet online live casino resolutely，There is nothing to hesitate about。

36氪: These decisions of yours，Did 188bet online live casino have any conflicts with other partners during the implementation process？

Zhang Ying：Definitely。The more serious conflict was when I proposed setting up a medical service group in our post-investment team，Serving founders and immediate family members of the companies we invest in，Some people strongly opposed 188bet online live casino at the time，Some people are mildly opposed。Why do they think we don’t use third-party service agencies，Just pay others，Be an efficient intermediary。I said no，Direct stores and franchise stores，Service awareness is more than 10 times worse。I want the core members of the medical team to be Jingwei’s own employees，100% dedication、Care for our founder。I don’t want an intermediary，Even if he is a very efficient intermediary。

36Kr: 188bet online live casino the medical service team become a barrier to Jingwei?

Zhang Ying：We were discussing in emails，I say that the founder is the most important person to accompany Jingwei，Please tell me what you disagree with。They said，I said，OK，I heard 188bet online live casino，But do as I say。Today they know this decision is the right one。Of course，There are also decisions that I made wrong in the end，I will admit my mistake immediately、Adjustment。I am a persistent person，But not stubborn。

36Kr: Does autocracy help the efficiency of 188bet online live casino institutions?

Zhang Ying：An excellent company，Whether 188bet online live casino is an investment institution or an industry，Everyone should be 70% authoritarian，30% Democracy。Democracy allows everyone to have a mechanism for discussion，Make employees feel respected，And a fast error correction mechanism。But the important point，You must always remind everyone。

36氪: Do 188bet online live casino think 188bet online live casino have any limitations，will restrict the development of Jingwei？

Zhang Ying：Yes。I’m so competitive，Then 188bet online live casino’s too urgent，Sometimes the whole process is messed up just because of a little detail，And puts too much pressure on colleagues，In the end, some people just can’t pass this level。

Many things are determined by God，Can you catch the next BAT，Catch the next Didi、Momo、Are you hungry，Everyone lives to be sixty or seventy years old，If there is any accident, 188bet online live casino will be over，How many years do we have?？How on earth do you digest these things？I still have a lot of desires、Tangled、temptation，So this process is destined to be very painful。

36氪: Although the venture capital industry has only been around for 40 years，But have 188bet online live casino ever thought about making longitude and latitude，For example, a century-old store？

Zhang Ying：A century-old store is a piece of shit.

36氪: That is to say, except for the immediate three to five years plan，188bet online live casino have no longer-term vision？

Zhang Ying：Maybe deep down in my heart，I haven’t thought about 188bet online live casino。I won’t talk about a century-old store。The founder will grow old、Managers will change，The waves behind the Yangtze River will push the waves ahead，What depends on the success of the replacement？188bet online live casino basically depends on luck - there just happens to be a young man，Well done，The values ​​are also consistent，Also growing and managing。If we work hard，But I can’t find that young man after more than ten years and I admit 188bet online live casino，The decline of an investment institution is also natural，Nothing to worry about。

36氪: 188bet online live casino don’t believe that institutions and systems can give institutions the vitality that can be passed on？

Zhang Ying：If 188bet online live casino’s not my responsibility，That’s another longitude and latitude。188bet online live casino will also be very good，But the style will be very different，Won’t go to Burning Man，Won’t go to Lake Baikal。They may say that they think this thing is not that important，188bet online live casino is indeed possible that we can continue our strong performance and industry status，But that is a different organization。

What is brand, what is cool

-With my arrogance，I want to say "insurmountable cool"

-The 188bet online live casino public number is No.1，We have 500,000 fans，I encourage any institution to surpass us

36氪: Many people can’t understand，Jingwei as a VC，Why do 188bet online live casino like "making trouble" so much？Took dozens of CEOs to Burning Man last year，Music festival this year，188bet online live casino also participated in the filming of the documentary film "Randian"。

Zhang Ying：I didn’t think about many things that much at the beginning，188bet online live casino’s just my gut feeling that 188bet online live casino’s interesting to do 188bet online live casino。To be honest, I have never been to a music festival before，But I understand what a cool music festival is like。We saw the Tianmo Music Festival in an article on 36Kr，(See) form、These are the invited bands，I thought 188bet online live casino was very interesting at the time，Then we chatted with founder Li Hongjie，Discovered that he is also the founder of Zhangbei Music Festival，I said we will cooperate in depth，Follow the model of south by southwest，Technology、Music、Geek。

But now I am more and more aware of such activities、The importance of such cross-border interesting things to the brand，also systematically、More thoughtful、Rhythmically do a series of cool activities and invest in brand promotion。

36氪: 188bet online live casino’s your decision alone，Everyone still has to go through a decision-making process within Jingwei？

Zhang Ying：This year we are going to have a music festival，What kind of festival，We have never sat down and talked for hours about a case。We usually meet with a few people，188bet online live casino just so happens that our colleagues are also a fun bunch、People who cross borders，Everyone thinks 188bet online live casino should be done，Do 188bet online live casino immediately，After we have an idea, we will have strong execution ability，This is very rare，I am not shy at all to say this。Jingwei has super strong execution ability。Have you seen our advertisement？

36氪: Same money, but different coolness.

Zhang Ying：We have been thinking about this for less than ten minutes。We have a 15 second commercial at the festival，I said sit down and let’s discuss the form。At the beginning I mentioned "the same capital，Insurmountably cool”；One of our colleagues insists on “paying the same money，Different cool”。With my arrogance，I want “insurmountable coolness”。Because 188bet online live casino cannot be surpassed，I am targeting investment peers。

36氪: How do 188bet online live casino define cool?

Zhang Ying：If you don’t have investment performance, don’t talk about 188bet online live casino。Waiting for your investment performance，You stack 188bet online live casino again，188bet online live casino is the 0 after 1。There is this 1，The following 0 is the amplification of diversification。Today’s founders are getting younger and younger、Interesting、Multiple，188bet online live casino’s important whether you can give him money quickly。But does he recognize the charm of your institution、Personal charm，Does he think your brand is cool，This is also very important。

We have feelings about 188bet online live casino precisely，188bet online live casino feeling comes from me，And a handful of people from Jingwei。Things we do every year，Including public number、Content、Video output、Seven or eight longitude and longitude trips、A large-scale event once a year、Jingwei Chuang Conference，Countless offline activities，There is also humanistic investment within Jingwei。

36Kr: 188bet online live casino is the first time I have heard of humanistic investment.

Zhang Ying：We call 188bet online live casino Humanities Investment internally，Or 188bet online live casino can be called spiritual upgrade in consumption upgrade。This kind of thing takes time to grow but there is a lot of room，At the same time, 188bet online live casino can also bring influence，And I like 188bet online live casino。

Like the New World、Highway Store、Projects such as the Banff Mountain Film Festival，188bet online live casino may take some time to work on business，But on the other hand, their growth can affect more people，I personally participated in these。

36氪: Do 188bet online live casino care about the commercialization of humanities projects?

Zhang Ying：Care very much。Let me give you an example，4、I voted for a seat 5 years ago，188bet online live casino had just done its first show when I submitted 188bet online live casino，But the positioning is very clear，They just want to be China’s TED。Now they rank among the top three in terms of cumulative views in Tencent’s short video category，The core competitiveness is to know the characters。Discover interesting people from all walks of life，Not just businessmen and celebrities，Poaching these people is only the first step，How to arrange the script in detail，How to reflect the unique side of these people，How to stand more three-dimensionally on stage、Put 188bet online live casino on the video to get traffic，This is a very systematic project。

Let’s talk about the new era，188bet online live casino hadn’t done a single event when we first invested，Extension of those activities、Overlay、Form IP、Filming web dramas，Not even more。But I think Zhang Wei is not just a literary person，He has the ability to organize large-scale creative activities，These activities can bring him hundreds of thousands at a time、Hundreds of thousands of fans，His business thinking is becoming more and more mature。

The road store is also very simple，188bet online live casino is positioned as a young subculture，These people are the future of China，This non-mainstream group will become more and more mainstream。You have to cut off this crowd，The content must be very thorough and in place，You can’t impress them without pain。Like a road store, the style is very distinctive，What about foreigners in Beijing vs. foreigners in Shanghai，Selected topics about eating crayfish on the plane，People who don’t like 188bet online live casino find 188bet online live casino very boring，If you like 188bet online live casino, you will like 188bet online live casino very much。Kangyang (CEO of Highway Store) is a very business-minded person，Can carry big things clearly。

Some people are obsessed with their own literature and art，Obsessed with consistently producing quality content，Unaware that I have zero business judgment，Can’t grasp big things，188bet online live casino kind of person will always be a good media person rather than a good founder。I believe that Zhang Wei and Kang Yang are both people who are likely to succeed。

36氪: 188bet online live casino seems that creating content has always been your interest。Let’s talk about the official account of Matrix Partners，How many fans does 188bet online live casino have now？

Zhang Ying：We have 500,000 fans today，188bet online live casino is now much more difficult to grow fans of public accounts than before，But no matter what, we will stick to 188bet online live casino。We provide more useful、Interesting、Diverse content，This account reached 1.5 million+ readers in one day，I wouldn’t be surprised at all。

36氪: Is timing the key reason for the success of 188bet online live casino Public Account？

Zhang Ying：Our official account opened in 2014，Actually 188bet online live casino’s a year late。We sent that letter in October (Note: Refers to "The Bubble is There - An Open Letter to the CEOs of the Jingwei System")，Having the first 100,000+，I realized that the official account is a good window。Of course we are sensitive and innovative enough now，Find new communication channels，Extend influence through good content and methods。

36氪: Other institutions later also made public accounts、Write an article，Is 188bet online live casino possible for them to catch up from behind？

Zhang Ying：I don’t follow。Because we are No.1，I encourage any institution to surpass us。Our coolness in the hearts of entrepreneurs，No one can surpass 188bet online live casino。Nike and Apple spend billions every year on advertising in China，Why？Because influence is a continuous thing，188bet online live casino takes multiple efforts to increase the number。And what the outside world sees us doing is actually less than one-third of what we actually do，While others are learning，We are already doing more interesting things。

36氪: Reveal some.

Zhang Ying：For example, in March this year we established Jingwei Travel。Over the past two years，The CEOs of the latitude and longitude belt traveled seven or eight times，includes Iceland、Burning Man、Morocco、Lake Baikal，And Kamchatka, where we just took a dozen CEOs。I experienced Kamchatka again this time，This thing suits me so well，No one can do 188bet online live casino better than Jingwei。

Why do we do this？First，I like to see the world。Second，After trying a few times，I found that this thing has no pressure on me at all。I take 15-20 CEOs out for 5 to 7 days，Have quality communication with them every day，188bet online live casino means I held 15 to 20 meetings，Moving Board。One-to-one in-depth discussion with the CEO，We talked about a lot of things clearly。The investment in melon seeds was made when we went to Russia。Plus synergy among CEOs，Not only did 188bet online live casino not waste time，On the contrary, 188bet online live casino saves a lot of time，At the same time, I am looking at the world again。They ride dirt bikes during the day，I ride a motorcycle，They played cards at night，I will provide them with tea、Chat、I read books and watch documentaries。

36氪: 188bet online live casino don’t want to participate in playing cards?

Zhang Ying：I don’t play cards，Because I am fighting every day，I need to keep my luck in investing。

Comeers and Enemies

-I need enemies to stimulate me to do things better

-I am not a person without emotional intelligence，If I didn’t，I chose not to have emotional intelligence at that time

36氪: 188bet online live casino year is the 10th anniversary of the establishment of Jingwei，Is the greatest success still seizing the opportunity of the mobile Internet？

Zhang Ying：100%. Without megatrends, we wouldn’t be where we are today.

36氪: But the dividends of mobile Internet are considered to be passing，Does Jingwei have any systemic anxiety about 188bet online live casino?？

Zhang Ying：I think Jingwei just seized the big opportunity of the mobile Internet，Then all in，Then human sea tactics，188bet online live casino is an underestimation of longitude and latitude。In fact, we have a very efficient and rigorous team fighting，Our acumen for new industries，The accuracy of catching the wind，These can be confirmed from our projects。

For example，I think next，The education industry 188bet online live casino usher in an explosive period of growth，Layout of latitude and longitude，Including ape question bank、VIPKID、Baici Zhan, etc.、Suntech，Very early and very strong。We have caught all the new education companies，The development of some other newly invested companies is also amazing。

Another example，In the field of Internet finance，We invested in Futu Securities、Instalment music、Building block boxes, etc.，188bet online live casino year the Fintech field will usher in a wave of listings，Our layout and results in 188bet online live casino area are first-class。

A few days ago we reviewed the first half of this year，We have invested in more than 40 new projects，Plus follow-up financing from previous projects，Our legal department handled more than 200 transactions in the first half of the year，This is a very scary number。Jingwei has invested in more than 400 companies so far，188bet online live casino is still growing at a rate of about 70 companies every year，We consider unicorns and quasi-unicorns among them - our standard for this is that 188bet online live casino will be or has exceeded US billion，Reached 80，Not including our investment in the past two years、Potential early project。This is our real trump card。

36氪: The investment circle seems to have reached a peak of anxiety in the first half of this year，Generally believed that investment themes are lacking、There are no good projects on the asset side，Confusion spreads。What do 188bet online live casino think？

Zhang Ying：Phase Anxiety，staged confusion，Phased downturn, unable to find direction，I think 188bet online live casino’s funny。Because investment itself is always thinking，Under adjustment，Looking at all the industries you have deployed，Where to refuel and where to brake，Continue to work hard in the industry，Discover excellent people and teams，Find the valuation equilibrium point，Then cast with eyes closed。This is the essence of investing。As long as you still believe in the Chinese economy，Trust the Internet，I think there is nothing to lose，This point is very firm internally。

36氪: For the next 10 years，What preparations are 188bet online live casino making？

Zhang Ying：First of all, of course, good investment results，Next 10 years，Among the top 10 companies with the highest market capitalization in each industry we have deployed，I hope we will invest in 4 companies。Then there are many other things we have moved on。For example，Make Jingwei Travel a great company，Providing continuous services to everyone，The ultimate travel experience。For example, Jingwei’s official account，188bet online live casino will be more than just a traffic entrance，Everyone will see the pursuit of content one day。

36氪: 188bet online live casino don’t mean to be an interesting VC company，But Jingwei is not just VC？

Zhang Ying：Not just VC，188bet online live casino is an investment platform。There will be endless things happening in the future。I was talking about the latitude and longitude system five years ago，I was talking about the platform three years ago。

I have been doing financial leverage for ten years，One day financial leverage will in turn serve other things。We have indeed influenced many people，Changed the Chinese economy。Catch a good company，Invest in a few more billion-level companies，Vote for 10 more unicorns？But that’s 188bet online live casino，More is an improvement in wealth，This is not enough for me。So I’m thinking about other harder things，The kind that requires one step at a time and one pit at a time，Accumulation over time，Things that are done slowly。

36氪: Who is your current idol?

Zhang Ying：Chuck Feeney。Founder of DFS，He donated all his wealth of more than 7 billion，I live in a simple hotel。And now Bill Gates，I appreciate 188bet online live casino more and more。Earn so much money，Can donate so much money，How difficult this is，Those who don’t understand will not know，Charitable success may be ten times harder than business success。I increasingly admire people who have rigorous business thinking，Use the same rigor in charity。Their philanthropic success is terrifying，188bet online live casino’s hard to make money，Spending money well is harder than reaching the sky。If you say this sentence, many people will say 188bet online live casino，But this is actually the case。How to make good use of this money，To influence more people，This is harder than climbing to the sky。

36氪: Do 188bet online live casino communicate these things with the team?

Zhang Ying：Yes. A few 188bet online live casino.

36Kr: Which peers’ opinions have an impact on 188bet online live casino?

Zhang Ying：Beside me、Colleagues fighting side by side。Actually, Shao Yibo and I、Xu Chuansheng is an introvert，And I may be the most serious one，Being social doesn’t mean 188bet online live casino’re not introverted。

36氪: What is the definition of introversion？Being alone gives 188bet online live casino a stronger sense of power？

Zhang Ying：I have a small notebook，I write on 188bet online live casino when I am alone，My various thoughts，Densely packed。Being alone gives me more time to think across borders，We will discuss 188bet online live casino when we get back to the team，Fighting the strategy and executing 188bet online live casino。

36氪: In recent years, as your personality has become stronger and stronger - or more and more willing to show your strong personality，What is the most serious disagreement 188bet online live casino have ever had with someone？Or something will make 188bet online live casino and others fall out？

Zhang Ying：None，zero。First，I don’t see my colleagues，I am deliberately keeping a distance from many people。Second，If you come to me，Usually 188bet online live casino’s star projects that require us，Perhaps there was a dispute with our colleagues。But 188bet online live casino’s here for me，What I need instead is to ease my mood，Instead of helping our people to make trouble。I am not a person without emotional intelligence，If I didn’t，I chose not to have emotional intelligence at that time，But in the operation of capital, after all, business is about business。

36氪: When there is a conflict of interest，Are 188bet online live casino a person who can relic the relics？

Zhang Ying：188bet online live casino。A fund that really cooperates well with us，Sometimes people come to ask for credit，Want to invest，We are far more generous than other funds。

36氪: So do 188bet online live casino still have enemies?

Zhang Ying：Our peers do not recognize us.

36氪: Even if 188bet online live casino avoid contact with your peers, 188bet online live casino will still hear this sound？

Zhang Ying：Because I am where I am today，Many people will use this kind of information in exchange for my recognition of him。So basically all sensitive industry information，I can get 188bet online live casino in time。Their comments，I dont care what the fuck they say . But these people’s disapproval will become my original motivation。I need enemies，Whether 188bet online live casino is true，Still imaginary，I need them to motivate us to do things better。Still the same sentence，Strengthen yourself and you will be strong。

*188bet online live casino article is "The 10th Year of Longitude and Latitude"，The second half of Dialogue with Zhang Ying，Please click the link to read the first half:《Can Jingwei achieve today’s results，The most important thing is to give young 188bet online live casino space to do things》。Article source: 36氪，Author: Hong Hu，Original title: "36氪Exclusive｜The 10th year of 188bet online live casino，Conversation with Zhang Ying: The enemy makes me do better》