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Managing Director of Hongtai Fund Jincheng

1. Only by concentrating hard and adhering to the spirit of craftsman can we create good content

Now，Most mainstream entrepreneurs who engage in content entrepreneurship are “industry practitioners”，They come from the media within the system、New media company or other market-oriented production company，Start a business out of emotion，They are all relatively experienced people。

I started as a photojournalist at Reuters。To this day，I still believe that photojournalism is about discovering the beauty in life，Use the camera to record them and spread them to the world，This career brings me a lot of satisfaction。Same，For film and television works，We also want to convey the beauty and touch to the audience，Let the audience enjoy。People want to see beautiful things，This is a rigid need，And it is also established commercially。

Content entrepreneurship covers a wide range，With music、Literature、Comics、188bet online sports betting animation、Movie、Drama、Variety shows, etc.，The skills emphasized and the perspectives required in each segment are different。As an entrepreneur，If you are starting a business in a niche field，Then you first need to understand and love this industry，Only in this way can you have enough patience to specialize in it。When I was a professional photojournalist，When I see a sight，The first awareness is to think about how to shoot as a professional、How to show。In the field of entertainment，Specialized in the art，Practitioners need to respect such a rule。

Also，Especially important for content entrepreneurs，You need to concentrate on creating，Only by adhering to the spirit of a craftsman can we create truly good content，This is also related to the nature of content that needs to be gradually settled。Avatar director James Cameron is such a person，He can make a film in ten years，The result behind such efforts is，A work that took ten years to create can earn ten years of money，And this movie will remain in the hearts of most people around the world forever。I think this is the craftsmanship that true content creation should have。

2. For IP, I prefer investing in these two types of projects

I personally am very cautious about the word IP，I usually use this word very carefully。From an investment perspective，Just a novel、A comic is definitely not called IP，Of course you can understand it as the source of IP。Instead of investing in IP，My thinking is that I will invest in early-stage projects that can incubate IP；Second，I will pay attention to whether a mature IP can extend a larger business territory horizontally or vertically。I will lay out the projects at both stages。

The daily update plan we invested in belongs to the first type of project，The founder was previously from Buka Comics，Now his studio has signed contracts with dozens of painters，Most of these painters can update weekly，The work can also be released on all comic platforms。With the increase in reading and popularity，The work can go from online to 188bet online sports betting offline and even with animation、Drama series cooperation，Build IP in all aspects。

I am very optimistic about this kind of early-stage IP incubation company。Because the brokerage model adopted for this type of project allows the company to truly own the full copyright of these works，Of course, the works at this stage are not yet called IP，After incubation and operation, it is possible to turn the work into an IP。

Rampage Comics is a mature IP，This is the second type of project I am talking about。

Rangzou Comics adopts a method that young people are more willing to accept to create content。Although some people say it is very grassroots，But you will find out after reading it，In fact, its three views are very correct。Investment is investment in the future，In a sense，China will also need these young people in the future，I think we should convey the correct values ​​to them in a way they can accept，This matter itself is very meaningful。

My judgment on enterprises also comes from this，Actually，The value of a company is sometimes not created by the company itself，But what society gives it。In other words，How much value can an enterprise create to society，How much value does it have，The values ​​of Rampage Comics are also like this。

3、There is "uncertainty" in entertainment，But this is also part of the charm

Watch just one movie，The possibility of losing money on its project is very high，Plus some have already been produced、But if it is not released or released, the losses may be more serious。Why are there still people entering this industry one after another。Because there are indeed speculation opportunities here，Unpredictable。

Films essentially compete for existing resources，There are only so many screens in the country，Everyone’s viewing time is relatively fixed，The audience may not go to B after watching A during a certain period of time。When Hollywood blockbusters are released，exacerbates this uncertainty，Many times the success of a movie does not solely 188bet app depend on the movie itself，Also depends on other movies released at the same time as yours。Fundamentally speaking，Still the same sentence，No matter what you do, it is better to rely on quality than quantity to win。

Although consumers’ tastes will change，But good works still have a leading role。The recently released "Youth"，Perhaps at first it was hoped to reach the audience who had experienced that era，But in fact many young people also like it after watching it，Although they may not have experienced those years，But you will still be touched by the content of the work。

So, good works are timeless.

4、Capital is also slowly maturing，Time is the friend of excellent companies

Based on the results of our industry survey，Only a few top cartoonists can make a good income in comics，The cartoonist behind the works below the waist has a hard time making a living。Of course，This is why we invest in daily update plans。Rigeng has supported dozens of cartoonists through brokerage contracts，Pay them wages，Let them create with peace of mind。Although more comics we see may originate from Japan，The good news is，Due to the continuous efforts of the platform and cartoonists，Now Chinese comics have also begun to output in reverse，Their work "Family of Experimental Subjects" will soon be released unabridged in Japan。

Although now content entrepreneurship still has huge structural dividends from an industry perspective，But as an entrepreneur, you should still be cautious and optimistic。The bonus period is very long，will last for the next twenty or thirty years，It is necessary to grasp the rhythm and move forward steadily。

Content entrepreneurship is ultimately about time economy，This time economy can be understood from two aspects。On the one hand, from the perspective of space, the time for consumers relative to each person is limited。Total population multiplied by per capita entertainment time，The overall amount of entertainment is so much。On the other hand, in order to obtain more consumer time，We need better quality works，Good works often take time to polish。After many works were adapted into movies，The effect may not be as good as expected，But I believe if the producers are given more time，Deeply explore its potential，The final result will be good。

Today，For various reasons，Many entertainment works are under pressure to be produced in a hurry，This actually over-consumes those high-quality IPs。It often takes a lot of 188bet app download time for a work to become an IP，Consume the good things all at once，If you try to train them later, you will not be able to keep up with the rhythm。Lei Jun once said，When the wind comes, pigs can fly into the sky，But is there any wind in the entertainment industry?？I think，Windy。But this wind is not a hurricane，More like a monsoon，It’s not that strong，But it will take a long time。Also，If you want to fly, entrepreneurs must also train themselves to be as heavy as a pig，Most of the entrepreneurs I see now are ants。Ants may not be able to fly when the wind blows，No one can see it even if it flies。Last，Entrepreneurship is essentially a business behavior，Content entrepreneurs must be commercially prepared before starting a business。No matter how strong the wind is、No matter how long the wind lasts, it will eventually stop one day。Once the wind stops，No matter it’s a pig、Both ants and elephants will fall。So，The wind is coming，You should grow your own wings earlier，Because this is the only way，You can continue to fly no matter how the environment changes。

From an investor’s perspective，Not only in the entertainment industry，The whole of China is in the channel of rapid growth。Most industries will go through the stages of barbaric growth - bubble bursting - return to rationality，Then gradually began to grow healthily。Although the fluctuations in different industries will be different，But the general trend is similar。Previous capital may have been more pursuing short-term interests，But today’s investors are more mature，The LPs behind the investors are also more mature。Everyone knows，Short-term ultra-high returns are not sustainable，Long-term returns are valuable。So，Instead of leaving nothing in the end and making some quick money，It is better to concentrate on producing truly high-quality works，Let time verify the value。

*thisSource of text:WeChat public account "Investors Say”（ID: touzirenshuo），Author: Yuan Jing，Original title: "Hongtai Fund · 188bet online sports betting Jincheng: Content entrepreneurship is ultimately about time economy，Entrepreneurs should remain cautiously optimistic while passionate》.