In the recent period，My judgment is that if the Chinese Internet wants to pick up, it will be the next wave，A very important direction is driven by innovation in the supply chain and to B industry，So 188bet online live casino is the supply side。Back to what I said about their past problems and possible solutions，If you want to reform，What changes might enable their innovation，Achieving efficiency and cost changes？

First of all, let me talk about the meaning of the second half，I guess most people have no idea what the second half means。The term "second half" was proposed in the first half of last year，And after 188bet online live casino word was brought up，Across the industry，Including the country, which has produced a relatively large response。What does the second half mean，Why is there such a thing as the second half？188bet online live casino second half has several levels，One is that our Meituan-Dianping company is entering the second half，One is the Internet and mobile Internet industries, which we believe will enter the second half，One is China’s industry、China’s economy is about to enter the second half，Global Economics and Politics，We think we should also enter the second half。

1. The macroeconomic background requires refined management of enterprises

Let me start from the global perspective，Although our 188bet online live casino is a 188bet online live casino with only 35,000 people，A 188bet online live casino with a market value of only 100 billion yuan。But we are extremely concerned about the macroeconomics，Macro is extremely important。A small macro fluctuation，In fact, for microscopic ones，For each of our living entities，Our humans，Our business is a fatal blow，Fatal injury，So our 188bet online live casino is a 188bet online live casino that pays great attention to the macroeconomics。

So，Recent period，The entire macro is undergoing very big changes，Extremely big changes have occurred。For example, Trump came to power，I personally think there is no big problem with Trump，But the significance of 188bet online live casino matter is greater，Trump should be a special existence in American history。

The country America，It has been basically the global value benchmark since World War II，Moral role model，Advocating equality、Free、Tolerate these ideas，Advocating democracy、Science，But after Trump came to power，The United States has a huge rift 188bet online live casino practice of these universal values ​​that they are considered to do very well。

I’ll give you a few examples and you’ll understand，One is a big boss in the technology industry named Peter.Tiel，English name is Peter Thiel。188bet online live casino person is very awesome，is the founder of PayPal，PayPal is the Alipay of the United States，is an angel investor of Facebook，When Facebook was very, very small，Invested 0,000 in Facebook。

So，Also on Facebook Board，A book was published last year and became popular in China called "From 0 to 1"，So it has a great influence on the entire Internet technology circle。188bet online live casino person’s strength is independent thinking。When Trump was running，The entire Silicon Valley elite is against Trump。Only Peter Thiel supports Trump。

188bet online live casino past，It’s no big deal that he supports Trump。There is one interesting thing about Americans，For example, two American neighbors，Litigation，The two families have a dispute and are in a lawsuit。The two families are fighting a lawsuit，It does not affect other interactions between these two families。They think litigation is just a part of their lives，So they continued to date。

But what happened 188bet online live casino time，Peter Thiel’s support for Trump led the Facebook board to expel Peter Thiel，188bet online live casino is a very painful thing in the United States。

I will come back to China，188bet online live casino year should be the middle of the year，The People’s Daily published an editorial in the tone of a well-known authority。The editorial says that China’s economy will undergo an L-shaped trend，Capital L，L-shaped trend means it goes sideways after the next step。

188bet online live casino has never happened before，Since Comrade Xiaoping’s reform and opening up in 1978，188bet online live casino is the first time that a term called L-shaped trend has appeared，We have always been a prosperous economy in the past。Then why is there an L-shaped trend?？I will push the time back a little，Back to 2012，2012 was a landmark year for China’s economy。

In 2013，I handed over the things I was responsible to our other colleagues，I’m going to explore new business，I happened to have some time to study at that time。Because I think we are doing O2O，So let’s take a look at the development of the U.S. O2O market，And what Americans think about the future of O2O。That time in 2013，The word O2O is very popular in China。There were two concepts that were very popular at the time，One is O2O，One is 188bet online live casino thinking。These two words are very popular，What a coincidence，I went to the United States at that time to search for information related to O2O and 188bet online live casino thinking，I discovered something that shocked me，These two words are made by Chinese people。

In other words, it was on Wikipedia in the United States at that time，Basically the key words that many people pay attention to，You can search it on Wikipedia，But the concepts of O2O and Internet thinking cannot be found in Wikipedia in 2013。What does 188bet online live casino mean？188bet online live casino shows that these two words are not widely used in the English world，Or 188bet online live casino word is made by Chinese people。Chinese people are quite capable of innovation，Things about Chinese innovation，Chinese people don’t know they are innovating。How do Americans really know the word O2O？It was Robin Li who said he would spend 20 billion to enter the O2O market，Then the US capital market asked，What is O2O，How come an O2O thing appears，Robin Li will spend 20 billion？

Americans are completely confused: suddenly something called O2O came out，Then a company with a market value of 50 to 60 billion US dollars said that it would spend half of its funds on 188bet online live casino matter，What the hell is 188bet online live casino。

So，At that time, Robin Li spent a lot of time explaining to them what O2O is。So，We have been engaged in O2O 188bet online live casino country for a long time，The main person who really exports O2O to the United States is Robin (Robin Li)。

Before，For example, Meituan，The reviews are also good，Let’s go get financing，Looking for financing from American investors，Said we are the largest O2O company in China。What do they mean by O2O，No one knows，And there is no time to listen to us。Because our status in the world is not enough，Say that you are a bunch of idiots who came up with a noun to deceive us，It wasn’t until Robin talked about O2O that everyone paid attention，Said even he wants to do it，It seems like 188bet online live casino is a thing。

So the word O2O was spread to the United States from China，It is the Chinese who are educating Americans。For the first time, we are leading the world in innovation in the world's science and technology field。Then why is the word O2O so popular in 2013？After I discovered 188bet online live casino phenomenon，I was very surprised，I will come back to observe the situation in China。I discovered something that shocked me，The word O2O is not only used in the Internet circle，Investment Community、Media Fire，And a new phenomenon has appeared，Very popular in traditional industries。And it is more popular in traditional industries than the Internet technology and media circles，188bet online live casino is the first time on the Chinese Internet。

All new concepts in the history of China’s Internet，What are the rules for the spread of new terms？They are all investment circles、Media Circle and Internet Circle、The entrepreneurial circle is popular first，After the fire is over，Then the traditional industries will follow up selectively。That is, 188bet online live casino propagation path has always been 188bet online live casino way in the past，But when the word O2O became popular，The path is reversed，People in traditional industries are more enthusiastic than us。And interestingly, it was before O2O，I go to all Internet conferences，It is rare to see people from traditional industries attending。Come and participate，They also said they came to study。After the word O2O became popular，I found that many people from traditional industries came to participate，And they are also talking about O2O，What about O2O。And the interesting thing is，Let’s talk about what O2O is，He explained to me for a long time，I found that the two people said something different。

188bet online live casino is 2012、A very strange thing happened in China in 2013。So what exactly makes the word O2O so popular in China？The traditional industry in China is so popular？Actually the reason is very simple，What happened in 2012，In 2012, China’s own clothing brands experienced large-scale inventory backlogs across the entire industry。The inventory backlog in the clothing industry is very scary，Basically, if you can’t get out, you will go bankrupt，Because what is the clothing industry？It is spring to make summer clothes，Making autumn clothes in summer。So，What does inventory backlog mean？After finishing 188bet online live casino batch of clothes in spring，Not sold by summer，When summer is almost over，I found out that I have a backlog of inventory。He didn’t sell it，You can’t get the money back，And these squeezed stocks，Summer clothes will not be sold until next summer。

The bad thing is that everyone buys fashionable clothes，Next summer，No one bought last year’s style，So once there is an inventory backlog in the clothing industry，The depreciation speed is very fast。It is the same as mineral water、FMCG is different，It doesn’t matter if you have a backlog of one year，Mainly the cost of the warehouse，Can still be sold next year，Clothes will no longer be sold next year。So，Basically, there is a backlog in the clothing industry，188bet online live casino is the signal before bankruptcy。Then why did the clothing industry have an inventory backlog in 2012？188bet online live casino matter needs to be discussed going forward，China’s clothing brands were basically established in the 1990s，In the past years，They live so nourishingly，The way they live is too simple。Let me tell you how easy it is to start a clothing company，Just compare with them，It is really difficult for us to do O2O。

Clothing companies basically only need to do a few things to become a company，First，Advertising on CCTV。And 188bet online live casino ad does not require very clever advertising design，No need for particularly high-end advertising marketers。Very simple，For example, can you remember the differences between certain clothing companies’ advertisements？You can’t remember，You can’t remember，What they fight is completely tasteless，Undifferentiated advertising，188bet online live casino is the first，188bet online live casino is their past marketing strategy。

Second，Expansion and development is opening a store，Driving from first-tier cities to second-tier cities，Open from second-tier cities to third-tier cities，Open from third-tier cities to fourth-tier cities，They are all driving to my town now，We can’t drive to the village。So，Market penetration has reached its end。But changes have occurred。First，When the new generation born 188bet online live casino 1990s becomes the main consumer，Economic level of the post-90s generation，Their culture，Their personal pursuits are similar to those of our generation，Not your generation，People of my generation are different。I tell you it’s different，It’s not different，It went 188bet online live casino completely opposite direction。

For example, when I was in junior high school，If the classmates around me buy a piece of clothing，Don’t dare to buy it yourself。Just a few classmates are better，Everyone buys the same clothes，To make sure I’m mainstream。Understand，Make sure I am mainstream，So a situation can occur，It is a piece of clothing with a style inside it，1/3 of the people in a school are wearing it。188bet online live casino is why everyone is not confident，188bet online live casino economic development，Social Development，Not confident in cultural development。

Because I am not confident，There is a herd effect，Everyone pursues unification。Everyone looks at the post-90s generation，What is the situation now？His information input，Economic Situation，Including school education，They are all personalized，Autonomous and independent，He is afraid of being like others，He thinks it would be too embarrassing for me to be like others。So，They began to pursue personalization，Pursue your own label，So the entire pursuit of consumption has gone 188bet online live casino completely opposite direction than 188bet online live casino past。

If at 188bet online live casino time your clothing still carries a completely undifferentiated advertisement，In fact, no matter how they advertise，They just mean it，That means I am a big brand。But the bad thing is，When everyone is personalized enough，When it’s time to pursue yourself，Everyone doesn’t like big brands anymore。Everyone is afraid that when they wear the same clothes, they will look different on the street，Everyone knows the word Zhuangshan, right。At 188bet online live casino time，Your advertising method is completely opposite to your consumers。

2、The development of the 188bet online live casino leads to marketing channels、Changes in marketing costs

Consumers’ attention moves away from TV，There is less and less time to watch TV，Play games，Read novels online，Watch videos online。So，The platform for spreading consumer consumption attention has changed。Consumption attention has changed，It won’t work if you advertise on CCTV，Who among the young people watch CCTV these days。188bet online live casino is the reason why the past marketing platform no longer works，The emergence of new media，They didn’t learn how to do new media marketing in time。What does putting several factors together lead to?？leading to the end of their road in 2012。

I just gave the clothing industry as an example，Then I will tell you，In 2012, all traditional industries in China looked like 188bet online live casino。And now after 2012，I don’t know if you have noticed something，That is, Internet companies can finally be listed on A-shares。In the past Internet circle，The entire mainstream Internet looks down on these companies at all，After the A-share listing, chickens and dogs ascended to heaven。

Around 2013，There was also a wave of technology stocks listed in the United States at that time，Some people think that company is not good。Why does 188bet online live casino happen？

Look for people from investment banks in the capital market，Citi、Chat with people from Goldman Sachs，Ask why these companies can get so much money from going public，They are still losing money，Always losing money。You know that A shares are very, very expensive，Outrageous，US stocks are like 188bet online live casino too。

So，You can explain it as A-share investors and Chinese investors don’t know how to trade in stocks，I don’t know how much it’s worth，So random pricing and stock trading。U.S. stocks are relatively rational，There are still Internet companies whose valuations after listing are higher than what we think are objective valuations。So，I asked the people at the investment bank，Let me tell you how 188bet online live casino happened，Why is the valuation so high？The investment banker gave me an answer，I think 188bet online live casino answer is very profound。He said, do you think the valuation is high?？Then let me ask you a question，Go and look at the growth assessments of traditional companies。

For example, if you look at the United States，Do you know what the growth rate of a famous chain restaurant brand is?？2%，What does 2% mean？2% means that buying the company’s stocks is worse than depositing the money 188bet online live casino bank and earning interest，Only 2% increase every year。

There is a lot of money in the capital market，But traditional industries are not rising，So there is no room for 188bet online live casino place。What to do when the money has nowhere to go？When the money has nowhere to go，Someone told him about a possibility，He is willing to pay。

There are fewer places to invest money，For example, another incident occurred in Europe recently。Negative interest rates have appeared in many European economies，Do you know about negative interest rates？With negative interest rates, you deposit money in the bank，For example, save 10,000 yuan today，You will have to pay 300 yuan to the bank at 188bet online live casino time next year，It’s not the bank that gives you 300 yuan，You have to pay 300 yuan to the bank，188bet online live casino is negative interest rate。

Let me tell you，If you haven’t heard about negative interest rates before，I have never seriously experienced negative interest rates，I suggest you go back and have time to seriously understand what negative interest rates mean。What is the result of 188bet online live casino？Causing the entire Internet to be speculated in A-shares。

188bet online live casino is China 2012、What happened in 2013，The entire traditional Chinese economy reaches 2012、In 2013，Fell into a very deep pit。Actually since then，There will be an Internet bubble，In 2014、There was a very big Internet bubble in 2015，The reason is very simple。

That is when the entire traditional economy is not rising，The money has nowhere to go，So they started investing in the Internet，Everyone doesn’t understand the market，Everyone doesn’t understand，Netizen、Investors don’t understand the Internet market。Because the money has nowhere to go，At 188bet online live casino time, Internet companies are doing very well，Just invest in the Internet。Buy stocks in the secondary market at the beginning，Buy stocks in A-shares。

Later I discovered that I was buying stocks in A shares，Nothing to buy in stocks，I won’t buy A shares，Let’s buy stocks of unlisted companies。So，They formed a fund，RMB funds cannot buy stocks of listed companies。The prices of stocks of unlisted companies have gone up after a period of time，The company’s financing is angel ABCDE round，Then keep going down，Last listed。They first bought stocks of listed companies，The company rose quickly。So they buy the previous round，Because after listing，Can increase ten times、Twenty times，If you buy the previous round, buy the F round、G wheel、E round，Buy upcoming ones。188bet online live casino will also go up after a while，So many people buy D round，The D round will also rise in a few days。Then he said we would buy Series C，Buying Series B，Buying Series A，In the end, the angel went up。

So，There will be a 188bet online live casino with nothing，Just started a team，The valuation is only 200 million US dollars。One team alone earned US0 million at the beginning。

188bet online live casino is the cycle that the entire Chinese economy will enter in 2012-2016，Everyone finally looks for a way out from the very beginning，In the last four years, I finally accepted that our economy will follow an L-shaped trend。That’s why everyone is so enthusiastic about O2O at 188bet online live casino time、What does it look like to yearn for so much？

In the process of 2012-2016，It is the Chinese economy，Actually, to be precise, the world economy is stuck on the road it has been on in the past，Everyone is also asking for the process of where the Chinese economy and the world economy will go，188bet online live casino is such a process。At 188bet online live casino point in time，O2O and Internet thinking are proposed，Think it is the way out for China’s economy。So 188bet online live casino is China’s economy + Internet。

It has been about 20 years since the Internet entered China 188bet online live casino late 1990s，The past 20 years have been the golden age of the Internet，188bet online live casino past 20 years, there have been only three industries worth pursuing in China，Internet、Finance、Real Estate，Every other industry is the wrong one。So the entire Internet in China has developed rapidly 188bet online live casino past 20 years，So now the total market value of the entire Chinese Internet is about 1 trillion，So start from scratch，About 20 years，Developing very fast。Especially when mobile Internet becomes popular around 2010，Another new wave，Many new companies have emerged。

But until 2015 to 2016，New symptoms have appeared on the entire Internet and mobile Internet，New situation，What is the new situation？First，The transformation from the Internet to the mobile Internet is basically completed。The driving force of mobile Internet is smartphones，That is, the number of smartphone users has not increased much，The reason is very simple，Everyone who didn’t have a mobile phone in the past now has one，Users who have mobile phones have all switched to smartphones in the previous generation，Not even my mom is going anywhere，not working，Only coax the children from home，Everyone has a mobile phone，No one doesn’t have a smartphone anymore，So 188bet online live casino market dividend is over。

In fact, the size of the entire mobile 188bet online live casino is multiplied by a few numbers，First, the number of mobile phones，The second is the number of APPs on the mobile phone，The third is the usage time of each APP，Just multiply these numbers。

So the largest number of mobile phones is gone，Stop，188bet online live casino is the first，The growth of mobile phone number has stagnated。Second，We observed a very scary phenomenon，User on mobile phone，In the past period of time, I have been constantly installing APPs，Now I am constantly deleting APPs。You can recall whether you have deleted any apps in the past，Or you only installed a few when changing to your next mobile phone。

We conducted very extensive research on very good investors，After research, it was said that only 11 APPs can stably stay on consumers’ mobile phones，Only 11 APPs。What does 188bet online live casino mean？Means that a large number of APPs are gone，In fact, we looked at the data released by Questmobile in Q3 188bet online live casino year，The volume of many apps is declining。Of course there are still many rising，The increase is mainly due to the large ones，Small size is decreasing，188bet online live casino thing is very scary。

So recently, everyone has stopped investing money in venture capital，Because there are no emerging 188bet online live casino that can get money。

There is another very scary one，188bet online live casino era of mobile Internet，You want to jump from one APP to another，The threshold is very high，Jumping between a large number of apps is not supported。Because jump is not supported，As a result, users are all left on one APP，Because there is no such distribution of search engines、Decentralized traffic distribution channel，Current traffic distribution channels on the mobile Internet，What if you don’t download the APP？Only two ways，First, buy electronics market ranking，The second is to buy pre-installed by the mobile phone manufacturer。Only these two options，The volume that these two channels can push is very, very small，So the Matthew effect is very strong。

So we observe the American Internet and then the Chinese Internet，The same situation occurred on the Internet in two countries，The market value of the entire Internet industry has been rising rapidly in the past few years，But if we look at 188bet online live casino market capitalization distribution, there is a very scary phenomenon，The market capitalization of the US Internet is dominated by the three major Internet companies，Other companies are very small，The three major Internet companies are Facebook、Amazon、Google，Besides them，Other Internet companies are small，Two orders of magnitude smaller，China is like 188bet online live casino too，They all belong to Tencent and Alibaba。

One more thing，188bet online live casino past, mobile phone manufacturers experienced rapid business growth，So merchants are interested in profits、The gross profit margin is also relatively large，The pursuit of profit is also very strong，They will make money when they don’t rise，How to make money？Because consumers bought mobile phones，Mobile phones are so expensive，The way he makes money is to charge people who want to promote pre-installation and electronic markets，And it rises very sharply every year。

We estimate that pre-installation fees and electronic market fees will increase by 30% in 2017 compared with 2016，These elements added together，It is very scary for mobile Internet companies，First，The number of mobile phones is not increasing，Second，Consumer uninstallation，Third，Promotion costs increased by 30%。So I think 2016 was a watershed for the entire China Mobile Internet，China’s mobile Internet 188bet online live casino future，The mobile Internet will be very tragic next year，Many companies you can’t imagine will die。Of course，Our Meituan Dianping should be stronger。

I took such a long detour to talk about the global economy、Politics，China’s economy，Traditional industries and the 188bet online live casino、Mobile 188bet online live casino，In fact, they are essentially the same thing，If we look at it according to the syllogism of enterprise development，Have you heard of the syllogism of enterprise development？Enterprise development is in three stages，It is market-driven development、Leadership-driven development and innovation-driven development。

If we use 188bet online live casino syllogism to analyze the world、Words about China’s Internet，Global Economy、The Chinese economy and the Internet economy both have the same problem, that is, the end of market-driven development。

Globalization and technology are the two main growth engines of the entire global economy，But the bad thing is，From 2012 to now，The two engines stalled，There has been no breakthrough in technology for a long time，If there is no breakthrough in technology 188bet online live casino next ten years，There will definitely be a war 188bet online live casino next twenty years。

Peter Thiel we just mentioned，I mentioned a very classic definition in 2000，He should have spent a lot of time thinking about the development of the world，He said that our technology has not had a breakthrough for a long time，We are going to have a problem。Looking at it now，In the three directions of biotechnology, new energy and artificial intelligence，Everyone looks promising，But there has not yet been a real breakthrough that can be industrialized，188bet online live casino is the global economy。

What are the market dividends of China’s economy in the past period？The first is demographic dividend，The population cost is low，Large population base，Because of 188bet online live casino reason，We can become a production factory in the wave of globalization，So exports are our number one growth driver。Second is real estate，The third is consumption，Because of economic growth，Consumption will inevitably form a new driving force。The bad thing is，These three driving forces are gone，Because our real estate prices keep rising，The dividend from export is gone，The demographic dividend is gone，Our population is aging very seriously，The demographic dividend is gone。Our workforce is decreasing rapidly。

Real estate has become the last one. Everyone knows that as long as it rises, it will harm the future of the entire country，The economy will stop if it doesn’t let it grow，188bet online live casino is the reason why real estate keeps rising，It’s hard for everyone to accept the increase, so here it is，188bet online live casino is the last step，188bet online live casino bonus has obviously been exhausted，Excessive consumption now，So the country is under great pressure。

The same is true for the Internet，The past few years，All increase the number of netizens，Get faster by CPU speed，The biggest dividend of the Internet is the growth of Internet users，The second largest growth is Moore’s Law，Moore’s Law means that the United States is 18 months，CPU speed doubled，Just rely on 188bet online live casino to increase。Now？The growth of Internet users has come to an end，So all market dividends are over，End of bonus period。

So 188bet online live casino is the entire global economy、Problems facing China’s economy and the Internet economy。So when facing these problems，If we follow the syllogism of enterprise development，We should switch from market-driven to leadership-driven and innovation-driven。

The next wave of 188bet online live casino is the innovation of supply chain and B2B industry

Where is the solution for China’s economy？Actually, there are still some experts in our party，In fact, an editorial in the People’s Daily 188bet online live casino year said “supply-side reform”，Who is the supply side？The entire industry is divided into two parts，Part of it is the demand side，Part of it is the supply side，The demand side is consumers and the market，The supply side is enterprises and suppliers，It’s the merchant。

So the supply-side reform means that the way you could rely on consumers to grow in the past has come to an end，If you don’t change, you will die，He told the company that if you don’t change, you will die，If the industry remains unchanged, you will die，You need to change yourself，What changes should be made？Efficiency improvement，Cost reduction，Innovative business，Improve user experience。188bet online live casino is our party’s prescription for the entire country’s economy，188bet online live casino prescription is very awesome from my personal point of view。After going through various trials and errors in the past period, I came up with an ultimate solution，It is said that the person who gave 188bet online live casino prescription was Liu He(sound)，188bet online live casino is our party’s prescription for China’s economy。

I don’t know how deeply Chinese companies understand supply-side reform until now，But from my perspective，188bet online live casino is basically the only antidote for China’s economic development to get out of these difficulties。Let me continue to talk about what supply-side reform means，How to carry out supply-side reform。You remember the supply-side reform，What is supply-side reform，I’m talking about another thing。

I did something in 2013，The capital market in the American technology industry or the Internet circle、Technology industry and Internet information industry，US listed company，I pulled it into a list，China also made a list，In fact, China’s development generally follows that of the United States，Because the United States may have encountered it first，Many innovative technologies arrived first，So I looked at what industries have produced very impressive companies in the United States but have not yet really started in China，And 188bet online live casino industry will become a very powerful company in China if the opportunity is available in the future。

188bet online live casino methodology is very simple，I will put the United States on a list，Put China on the list，To compare，After completing 188bet online live casino comparison, I discovered something that shocked me，American Internet company，very awesome like facebook、Google、Amazon，But there is another faction among US listed technology companies，Very awesome too，It’s just that 188bet online live casino group does not have as much exposure as Internet companies，Famous。

But 188bet online live casino group actually makes money，For example, salesforce，For example, workday，They basically account for the other half of the technology industry，Half of the technology industry is to C companies，They account for half of the market capitalization，In 2012、In 2013，These companies to B account for the other half of the market value，For example, Oracle，They account for the other half of the market value。So there are actually many awesome companies，But if we look at 188bet online live casino in China, we find that Chinese to C companies are very good，The biggest is Ali，Then Tencent、Baidu，To B’s company cannot be found，Basically not found，That is to say, there are some alive，But life is miserable。

So I am very confused，Why are these to B companies in China so miserable？Why can the United States produce such large to B companies but China cannot produce them？I’m just confused，So I found some people who I think have more insights to communicate with.，One of them is quite awesome，gave me an answer，I think 188bet online live casino answer is more true，He said, look, 188bet online live casino is made by a to B technology company in the United States，They all provide solutions to enterprises or merchants。

The salesforce I just mentioned is a sales team management solution，workday is the HR solution，They all provide solutions for enterprises and merchants。Why these solution-providing companies are doing well 188bet online live casino United States，Is life not good in China？The reason is very simple: the business cycle of the United States is very long，Because the business cycle is long，So everything that any company can use to compete and develop has basically been used up，Their development has reached a bottleneck，When they encounter bottlenecks, they start to improve internal efficiency，Reduce costs，Innovative Services。

And they want to improve internal efficiency、Reduce costs、Time to innovate services，They can’t do it without these technical supports，So to put it bluntly, American companies have been the first to encounter a state where market dividends have dried up 188bet online live casino past few years，Because market dividends have dried up，It must seek its own efficiency, cost and innovation，When it seeks its own efficiency, cost and innovation, it becomes interested in various new tools that can improve efficiency and reduce costs。

What was the situation in China in the past few years？A fool can make money running a business，It sounds like we are worse than idiots，We are still losing money，We are making strategic losses。I said so，You may say I exaggerate，But it has been too easy to make money in China in the past few years，Of course，The problem most people have is that they do not have the knowledge that it is easy to make money in 188bet online live casino matter or do not have the capital to enter 188bet online live casino industry，In fact, many industries in China were extremely profitable in the past，Very many。

Let me tell you a few examples of making more money，What is the result of 188bet online live casino？Everyone says my company is doing very well，Developing very well，It’s good to make money，Why should I take the risk to use the new product you provided me？Why should I risk using a salesforce？salesforce is a difficult product to use，Although 188bet online live casino company is very, very valuable，But it is a very, very difficult product to use，And very, very expensive。

So why should we take 188bet online live casino risk？No need，Because the company is developing very well。So 188bet online live casino is the root cause，That is to say, because of the entire Chinese market in the past few years、The development of Chinese enterprises is particularly easy，Development can be driven by market dividends，You can make money，So they are interested in new tools、The willingness to adopt new methods is particularly low，So at 188bet online live casino time someone asked me to make a tool for your company, do you want to buy it，He is not interested at all。

Today，I think 188bet online live casino has changed，All businesses，All businesses have encountered obstacles in their operations，So when its sales don’t increase、When profits don’t rise, it has to find ways to improve efficiency，Innovative Services，Ideas to reduce costs，It has no choice on its own。

In the recent period，My judgment is that if the Chinese Internet wants to pick up, it will be the next wave，A very important direction is the innovation of supply chain and to B industry，It’s driven by them。So 188bet online live casino is the supply side，188bet online live casino is back to what I said about their past problems and possible solutions，So let’s look at the supply side，If you want to reform，What are the possible changes，What changes can realize their innovation，Achieving efficiency and cost changes。

1. Management.

In fact, the management level of our Chinese enterprises is very, very poor，You can’t imagine。I used to have quite low self-esteem，Think of our Internet company，Because the development speed is too fast，Poor management，And the HR of many traditional companies，HR of those big-name companies，When asked about the situation of our Internet companies, everyone showed contempt，Your Internet company is terrible。So I have always been very inferior to the management of our Internet companies, including the management of Meituan Dianping，But the past few years，My view on 188bet online live casino issue has changed greatly。

2. Poor strategy.

Communicated with many bosses of traditional companies，Ask them what your company strategy is，About half of the people who answered 188bet online live casino question were obviously talking casually on the spot，The strategy that 90% answered，The statement of that sentence is obviously the statement of strategy，90% of them。In the remaining 10%，That strategy is not a feasible strategy，The strategic capabilities of Chinese companies are too poor。

三、Poor marketing，188bet online live casino’s all undifferentiated marketing，These are extremely inefficient marketing。

4. The management level is 188bet online live casino poor.

Unclear account，Our industry should see many catering businesses，How many of the caterers you serve can settle his accounts？I think that no more than 1% of businesses 188bet online live casino catering industry can calculate their accounts clearly，Many businesses closed down inexplicably，A brand that looks awesome，Talk to him，He can’t even settle the accounts，The management level is too poor。

5. Technical understanding and application are 188bet online live casino poor.

188bet online live casino past, these businesses had no technological awareness at all，Why when the Internet came，China’s e-commerce has completely destroyed China’s retail industry，Although the retail industry 188bet online live casino United States is under great pressure，But Walmart and Amazon 188bet online live casino United States have been fighting for many years，The reason is very simple，Wal-Mart the company，The technical strength of traditional American enterprises is very strong。

I will give you an example and you will know，Amazon is now recognized as a technology company，Amazon’s first CTO was Walmart’s CIO，That is, Bezos is a person who straddles the technology industry and the Internet，When he founded Amazon, the first person he thought of was not to recruit people from Microsoft，It’s not like recruiting people at Yahoo，The first thing that comes to mind is going to Wal-Mart to recruit people，188bet online live casino shows how powerful Walmart’s technology is。You will know how powerful Walmart’s technology is after I give you an example，Wal-Mart has its own satellite，I think the technology is strong enough。

So in the United States，Any industry is a technology industry，For a company like 188bet online live casino that runs a supermarket, everyone is involved in technology，Also a technology company，188bet online live casino is the difference between the United States and China，Chinese channel company，There is a marketing company，There is a retail company，There is a training company，These company channel companies are channel companies，A retail company is a retail company，A sales company is a sales company，A marketing company is a marketing company，All companies in the United States are technology companies。So China’s application of technology is so poor。

6. The structure of the supply chain 188bet online live casino is too poor.

188bet online live casino is the supply chain industry structure？For example, China，Any restaurant，Where does he buy the goods from，No professional supplier，There are professional companies in Europe and the United States，So they are extremely efficient。

These are huge problems that exist on our entire supply side。Facing these huge problems on the supply side，What does it have to do with us？Great relationship。Because we can actually see from the elements I just mentioned，See it from the elements we just talked about，Our President Xi Jinping proposed to carry out supply-side reform，Our merchants，The merchants we face are essentially on the supply side，But the question is whether it is possible for them to revolutionize themselves，Self-improvement？Impossible，188bet online live casino is impossible。

So for us，We hope to help our entire industry realize 188bet online live casino supply-side reform through our efforts。A very important driving force for 188bet online live casino supply-side reform is to realize the Internetization of the entire supply side of China's industries、Dataization，Because of the realization of Internet、Dataization，Provide more solutions on 188bet online live casino basis，Through these solutions, the supply-side business operations of our entire industry can be brought to a higher level，Through their efficiency gains、Cost improvement、Service Innovation，Let our consumers enjoy better services，Promote the development of the entire industry。

Don’t be too low-minded，Understand what we do as what our company should be，We need to look at where our industry is going from an industrial perspective。I have a judgment，I think there is about 25% room for improvement in the cost and efficiency of the entire Chinese catering industry，188bet online live casino is a very scary space，Because everyone knows that its net profit is not much。Based on my understanding of the entire industry and operating conditions in the past period，How to improve various operations，My judgment is that there is 25% room for improvement。And 188bet online live casino is about 25% room for improvement，It is impossible for us to wait for it to come，We have to drive it。

*Source of 188bet online live casino article: Huxiu.com, 188bet online live casino:B2B Internal Reference©, 188bet online live casino title: "Meituan Wang Xing: Why are all to B businesses in 188bet online live casino so miserable？》.