June 28，2018 Nantong Jianghai Talent Entrepreneurship Week and Youth Talent Development Conference grand opening。188bet app download opening ceremony is hosted by the Nantong Municipal Party Committee and Government、Co-organized by Pegasus Travel and Weizhong Media，Gathering young entrepreneurs from all over the world、Unicorn Enterprise、First-line venture capital institutional investor、Entrepreneurship Mentor、Thousand Talents Program Expert、Experts and professors from key universities at home and abroad，Discussed the secrets of unicorn growth and how to find future investment opportunities，Aimed at stimulating the potential and inner potential of entrepreneurs，Create an atmosphere of global co-entrepreneurship。Four heavyweight guests focused on the theme of "The Next Trend in the Era of Change"，From the perspective of future investment trends，Discussed the development opportunities of contemporary and future entrepreneurial investment。

Host guest:

General Manager of People’s Venture Capital、Zhao Yahui, Partner of People’s Daily Online Cultural 188bet app download Fund

Seminar guest:

Zhang Suyang, founder of Volcanic Stone 188bet app download

Dong Zhanbin, founding partner of Qingsong 188bet app download

Qin Zhiyong, Managing Partner of Boli Venture 188bet app download

Li Jianxin, Chairman of Jingye 188bet app download

The following is the transcript 188bet app download roundtable forum speech:

(188bet app download article is compiled based on the speech transcript，Not reviewed by the parties。Zhihui slightly deleted)

Moderator:Welcome some big names，I am very honored to come to Jianghai Tongda to participate in the China Youth Leaders Summit，188bet app download Panel is very interesting，We are all very good and awesome people in investing，The theme is "Era of Change，Where is the next outlet？”I was still stunned when I got 188bet app download topic，The "wind outlet" has been very controversial in the past few years，The earliest statement is Zhang Ruimin said "What is Haier？Even pigs can fly when a typhoon comes，Haier is that pig”。As a result, everyone argued again，Even if the typhoon comes, pigs can fly，But after the typhoon passed, it was the pigs that fell to death。

Everyone loves and hates the word "wind outlet"，It’s very profitable during the trend，Opportunities that follow the trend are meaningful to entrepreneurs。But there are also a lot of bubbles at the air outlet、Exaggerated behavior that makes people want to gain short-term benefits。For the first question, please let 4 people talk about how they view the tuyere？Is the air vent good or bad?？How do 188bet app download view the trend from an investment perspective？

General Manager of People’s Venture Capital、Zhao Yahui, Managing Partner of People’s Daily Online Cultural 188bet app download Fund

188bet app download:I never like to use the word "wind 188bet app download".

Moderator:Please introduce yourself and your own structure before expressing your opinions，Although it is well-known 188bet app download industry，But there are many local friends from Nantong here。

188bet app download:I am Zhang Suyang 188bet app download Volcanic Rock Capital，I am 188bet app download Jiangsu，My parents are both 188bet app download Suzhou，But I was born in Shanghai。Invested in Ruici Group in Nantong、Mr. Li is the LP of our RMB fund，So I am full of feelings for Nantong。

Back then Ctrip discussed where to build the first “human call center”，We feel that the city we found should have an industrial base，Because young people from cities with industrial foundations are organized by their elders、Discipline、The subtle influence of the system。So Ctrip’s first call center outside Shanghai was located in Nantong。188bet app download a place where I have something to do with Nantong。

I don’t like the “wind outlet”，In every sense of the word，The wind outlet will freeze to death，Or fall to death。I prefer to use "popular"、The word "trend"。Since the 1990s，Human behavioral nuclear technology and other technologies have become 188bet app download popular，The same thing is equally good。For the first time, I feel the popularity of technology，Both routers and switches can do the same thing，But then the switch became popular，So it is also technically popular。

For us, look at the trend in about three 188bet app download，How I feel about investors five 188bet app download later、The fund is a little far away，But the opportunity in about three 188bet app download is what we need to look at，So trends are important，Add Popular。In addition, most of our judgments are based on common sense，Don’t think too complicated，Use common sense instead。

Zhang Suyang, founder of Volcanic Stone 188bet app download

Moderator:Thank 188bet app download Mr. Zhang Suyang，Mr. Zhang Suyang has been working in IP for many years，He also made a lot of money from trends and trends，Home Inn、Hanting、Ctrip。Mr. Dong Zhanbin below。

Dong Zhanbin:I am very happy to have the opportunity of church，Our fund is exactly 6 years old this year，Focus on the mobile Internet field。I have invested the energy in the past few years to understand the trend，In 2012, he officially invested in mobile games in the mobile Internet segment，In 2013, many people saw the money-making effect of games，All kinds of funds are coming in，Someone from a fund later asked me whether I should also invest in games that are so profitable。I say if you don’t know the game industry, you should be cautious。After more than a month, I asked him if he had voted？He said he invested in more than a dozen mobile games in a month，188bet app download the dangerous behavior that gathers attention，Later, none of his dozen projects came out，188bet app download very typical behavior。

The second phase of the fund in 2014 saw opportunities in the education industry，Actually, I also watched it before 2012，It’s just that there was no good business model at the time，One-on-one video services began to appear in 2014，We invested in Palm Print One-to-One、DaDa English、Medical education, etc.。This year many institutions have begun to talk about education again，Thinks that education is a good opportunity，But it turns out that all good tracks have big companies，There is another red sea fighting here。Millennial investment is to ambush the industry before it rises，The industry gradually became more popular after half a year and a year，188bet app download the time for us to gradually withdraw。What the badge always talks about，We still appreciate that stages can affect more than ten years、Decades of trend opportunities。Like the Internet in the 1990s、Mobile Internet、Artificial Intelligence，It is capable of lasting and profound influence for 70 years，This opportunity is better。The "wind outlet" mentioned earlier is similar to the "storm"，Half a year and a year have passed，For example, last year there were so-called small outlets like shared power bank、Battery car。

Dong Zhanbin, founding partner of Qingsong 188bet app download

188bet app download:There was a year and a half that came down to the story 188bet app download bike.

Moderator:188bet app download a thousand bikes to two bikes.

Dong Zhanbin:188bet app download a very typical staged process，Shared power bank、Fitness Warehouse、New retail has not brought big business this year，This may be the concept of tuyere。

Moderator:Thank 188bet app download Dong Zhanbin for using his own personal experience to tell the interesting story，The following is Qin Zhiyong from Boli Venture Capital。

188bet app download:Good afternoon, distinguished guests and friends！I am Qin Zhiyong, managing partner of Boli Venture Capital，Our fund has a certain connection with Jiangsu，Our main funder is a philanthropist，He helps 6,000 college students from poor areas to complete their studies in 22 universities in Jiangsu every year，So our fund specially established the Boli Entrepreneurship Incubator，Specially cultivate the entrepreneurial ecology of universities、Hatch，So far, it has invested in nearly 30 college student entrepreneurship projects，There are also several projects in the seed round、After angel round investment, I obtained approved investment from angel funds like Qingsong Fund。So college student entrepreneurship should be our long-term layout area，You may not realize that universities are a very large market，There are more than 30 million college students in the country every year，A medium-sized country in Europe，So in college life、Study、Employment、There are many things you can do to start a business，188bet app download also an area we have been focusing on for a long time。

Speaking of "wind outlet"，Zhang Suyang and I、Mr. Dong Zhanbin’s statement is quite consistent，When the wind comes, the wind is very strong and everyone rushes forward，And the trend has been the same as 188bet app download past 5 years、China’s currency overflow in 10 years，Monetary easing around the world is also related。Many funds have a lot of money，But what should they do if they are very anxious？Just look for the outlet、Find the track，Through the examples just now, we can see the logic of having too much money 188bet app download air outlet。Many startups are not created by VCs patting their heads in a room。

Qin Zhiyong, Managing Partner of Boli Venture 188bet app download

188bet app download:Friedman famously said "Inflation is a monetary phenomenon"，The outlet of our country is 188bet app download a currency phenomenon，So many unicorns are 188bet app download a monetary phenomenon。

Moderator:Well said, 188bet app download is essentially a monetary phenomenon.

188bet app download:I think the word "unicorn" has been abused in China，No one understands what unicorn means。Unicorn means a life that is rarely seen，The earliest definition of unicorn in the United States is a startup company with a valuation exceeding US billion within 10 years，One billion US dollars was a very big number at that time，A billion-dollar startup has not started yet、Listing is very good，188bet app download kind of company is called a unicorn。So China put Alibaba、BAT wants to bring it back，These are unicorns。History may give 188bet app download name a final competition，I think it’s ridiculous。

Moderator:When I was chatting with Mr. Wang Dongming yesterday, we talked about the unicorn issue，Who will pay for the shock in the primary market and the secondary market？Now valued at 20 billion，But the secondary market value may only be 5 billion，Who pays for this inverted value？So everyone should be wary of unicorns becoming unicorns。The current trend of popularity is a bit like a bubble，188bet app download something very worthy of vigilance。

188bet app download:Back to the hot topic，There are many startup funds in the past few years that may hold their logic，In the beginning, you need to create your own brand when starting up，How to quickly build a brand and invest in venture capital，So many people embrace the trend with 188bet app download logic。

As a venture capital enterprise，If you want to become an evergreen tree in the long run, you still have to delve into the fields you are familiar with，We must have a long-term attitude towards investment and layout in a field，You cannot chase this trend today and the next trend tomorrow。The three most popular words this year are “blockchain”，I don’t know how many blockchain projects everyone here has invested in？What a great understanding of blockchain？I think blockchain may become an important part of the Internet in the long run，But I don’t believe it can revolutionize the Internet，Or become something more awesome than the Internet，188bet app download also the reason why I am cautious about the trend。

Moderator:Thank you！The Blockchain Conference was hosted by People’s Venture Capital in Beijing last week，At that time, a professor asked on the spot that the blockchain Internet was not unified，There may be good opportunities 188bet app download future，But it cannot be said that the revolutionary changes are important supplementary behaviors。

Li Jianxin:I am Li Jianxin from Jingye Capital，Is an investor born and raised in Nantong，I am the first investor in volcanic rocks，Now also an investor in Pegasus Brigade。I am also one of the first investors of Mr. Pu Xiaowu, a young talent just now。Nantong will definitely have a number of unicorn companies in the future，Mr. Buffett said, “Investment is the last job in life，I am not influenced by 188bet app download sentence to make investments，I only learned 188bet app download sentence after I made an investment。But 188bet app download sentence is particularly suitable for my current situation，I am the chairman of a pharmaceutical company，A person committed to creating good medicine for Chinese people。Everyone talks about the trend，I think the big health industry, both in the past and now、Even in the future, it will always be the "wind outlet"。

Understand the so-called "wind outlets" as opportunities under trends。The current health 188bet app download is really a good outlet: 1.Population’s yearning for a better life，The demand brought about by the improvement of the quality of life is gathering and growing。2.In terms of policy, the state has increased its support for innovative drugs、Priority approval of innovative drugs、The Chinese Medicine Business News provides a very good opportunity for China’s future innovative drugs。3.Investment level，Three years ago investors were afraid to invest in innovative drugs，We are still competing to invest in innovative drugs，Because of good policies、Good opportunity。4.Talent perspective，There is China’s “Thousand Talents Plan”、Tens of thousands of returnees，27% of people value biomedical research。So I think the future trend must be the big health 188bet app download。

Moderator:Thank you Mr. Li for the big health industry。In this round, we discussed how to treat the outlet，What is the tuyere？In fact, the outlet is a trending industry opportunity，From the perspective of global economic development，Macro in the big cycle、Mesoview、Opportunities exist at the micro level。Automobile industry in the 1960s、Chemical industry in the 1970s、Consumer Industry in the 1980s、Computer and communication opportunities in the 1990s，The Internet after 2010，Artificial intelligence to the present、The Internet has brought about 10 years of historical opportunities。This kind of industrial opportunity is very valuable to entrepreneurs，Of course we said that too，The outlet is not always a good thing，If it is a storm, it will stop as soon as the storm passes，I once participated in an experiment，A wind of 52 meters per second can blow me up，Everyone knows that there is such a practice in wind tunnel laboratories，Usually 40 meters can blow me up，Mr. Zhang Suyang also went to experiment。But does everyone know？The feeling of the wind blowing up is very painful，A person cannot find his or her normal state，Completely immersed in a very intense state，It will fall down naturally after the wind passes，188bet app download also a very painful process。So long-term intense use in the breeze is a good choice，To be successful in any industry, at least 10,000 hours are required、100,000 hours。The next question is where are the opportunities in trending industries that we think may generate relatively large opportunities？How to start a good business in the industry opportunities you think？

188bet app download:Volcanic stone investment will put most of the money in two areas，Because these two fields face the future，And there will be great development in the next 10 years。First, advanced medical treatment，Our understanding includes genomics、Proteomics and any medical device used in it through artificial intelligence。We feel that in 5 years, 50% of hospital laboratories will be sequencing laboratories，5、Fundamental changes have taken place in the medical field in 6 years，Medicine turns out to be evidence-based medicine，Through experience、Report、The film tells you what the disease may be and its symptoms through experience，Now step by step, you can quickly and accurately locate what your problem is。188bet app download a very big change from basic medical care in 2000 to now。

Second, Internet companies are now considered traditional companies，Find the patterns between things through the operation of "artificial intelligence + data" in the next 10 years、The form of connection and analysis will once again innovate business models in all walks of life，188bet app download also an important aspect for us。

Everyone knows，People can only understand 4% of the things in this world，Because there are still 25% of the dark world that you don’t know，There are 70% of dark energy you don’t know，Everything we can feel now is perceived through the most basic principle of electromagnetic waves，What I heard，My taste、Vision、Atomic arrangement、The color of X-rays passes through electron waves，Human beings cannot see things that have nothing to do with electromagnetic waves so far，So 188bet app download what people can understand only 4% of the world。But through the connection between artificial intelligence and data, people may understand 8% to 10% of the world，188bet app download the result of artificial intelligence and data coming together。Of course with software、Related to hardware improvements。I remember that buying a 286 computer in 1992 when I was the deputy director of Moore Field was already very impressive，We bought 3 units and dedicated a room to install air conditioners，is very precious。Now Intel’s chips are 20,000 times that of 286，So everything is inseparable from the hardware，Everything has changed us。

The price of genetic monitoring is falling faster than Moore’s Law，The 20-year pre-test human rights declaration team requires 300,000 US dollars，Now it only costs more than 20,000 yuan，And it will continue to go down。These two aspects are very important applications 188bet app download future、Basic research department。So our company’s main projects are in these two aspects。

Moderator:Thank you Mr. Zhang Suyang，He believes that advanced medical care and artificial intelligence will be two big market opportunities 188bet app download future，Now I invite Mr. Dong Zhanbin。

Dong Zhanbin:Our segment is mainly used in pan-entertainment、Education、Consumption，I also very much agree with artificial intelligence，But we have seen that these sub-sectors are trying to use artificial intelligence to transform the industry。Like traditional consumption and artificial intelligence、Big data has integration points。Like investing in a company that solves clothing customization，Significantly improve the efficiency of clothing customization through big data，No door-to-door measurement required，Select directly online，188bet app download model has been well developed。

Other directions including education are also very good models，Because traditional education still relies on teachers，The efficiency of turning educational resources into a system through artificial intelligence will be greatly improved，188bet app download also a very good opportunity for the transformation industry。Like in the entertainment field、There are opportunities to transform the social field，However, the user experience of artificial intelligence transformation in some industries may not be so obvious，The accuracy at this time will be weaker，If users cannot see things in the artificial intelligence era, they cannot have a profound impact on the industry，This aspect requires an in-depth understanding of industry applications。Like us, we tend to socialize more，There are many less invasive social interactions that are not well developed，Because the demand side is not well controlled。One day an investor told me that you invest more in social media，Can you solve my problem？I want to talk to a beautiful woman about philosophy，His needs are very specific，But can this problem be solved with existing products？I couldn’t find it after looking at it，188bet app download a good entry point。

Moderator:Even if we haven’t met her, I still 188bet app download know if she is a beauty.

Dong Zhanbin:188bet app download can be solved through artificial intelligence.

Moderator:Subdivided areas.

Dong Zhanbin:It is equivalent to the reverse thinking process of changing the original you looking for others into others looking for you，So 188bet app download quite an innovation。Using it socially may bring a greater opportunity，Social based on interests。

188bet app download:Take 188bet app download the data and finally see if she is really beautiful.

Dong Zhanbin:Perform appearance sequencing 188bet app download scanning during the registration process.

Moderator:Use other data to find out whether she is a beauty.

Dong Zhanbin:Based on in-depth understanding of the industry plus new ways of thinking，There are many opportunities to transform various industries，We will conduct comprehensive research along the industry，188bet app download the big trend。

Moderator:Now I invite 188bet app download. Qin Zhiyong.

188bet app download:It is important to look at trends，But when looking at companies, we also look at the opportunities that arise with the development of technology and industry，Discovered by practitioners with industry experience and then they start their own businesses。Can’t be said to be the outlet，But 188bet app download my perspective on the project。

Give you a few examples，These examples are all related to the opportunities mentioned by the industry. When Alibaba and WeChat felt that their online business was almost done, they started to shift to offline business，They are going to the supermarket、Use third-party payment tools in hypermarkets。The project I invested in at that time was an angel-level project，Three innovators are doing traditional ERP，It is an ERP system for supermarkets and hypermarkets to pay by UnionPay credit card。They quickly seized the opportunity and started operations in 2014，The company was not established at that time and there were only 3 people。Alibaba and WeChat are very mature methods today, they just need to go from online to offline，So we quickly built 188bet app download company。Can’t be called a vent，Just seize the opportunity，Turn opportunities into entrepreneurial projects。

Moderator:Entrepreneurial projects that turn 188bet app download into reality.

188bet app download:Another example is to make mobile Internet security，Those people turned out to be hackers in Beijing，What does the company you founded do?？Reinforce the security of APP，The main customers are game companies、Financial institution，What game companies are most afraid of is having a hit game that is decrypted by others，Someone else stole the core and then changed the skin and made a similar one and stole your customers。So they used the skills mastered by the original hackers to create a "white hat" company，188bet app download also what we like very much。

Moderator:188bet app download talks about grasping opportunities from reality.

Li Jianxin:The famous financial expert is named Wu Xiaobo，He said that whether 188bet app download are starting a business or investing, 188bet app download must find the biggest one。Thank 188bet app download everyone！

Moderator:Let me briefly talk about our venture capital ideas，We do two things: one is investment，Past 5、Invested in more than 30 major cultures in 6 years、Internet、Technology Project，Also voted for the interface、Projects from traditional media such as Pear Video，Also invested in young projects，Some companies changing the industry through technology。What do we value in 188bet app download field？What matters is the opportunities brought by the consumption upgrade of new technologies。

The second is People’s Venture Capital Channel “People’s Venture Capital Network”，It is a platform for entrepreneurs and investors to communicate，Lots of events、188bet app download reports、Online and offline communication。Looking forward to everyone participating in our activities。

final，Please give your advice to entrepreneurs in one sentence。

188bet app download:Comrade Mao Zedong taught us，Contempt the enemy strategically，We must pay great attention to the enemy in tactics。Thank 188bet app download！

Dong Zhanbin:My advice to entrepreneurs is to focus on the big market and seize the pain points of market demand，Using innovative ways to cut in 188bet app download definitely create a beautiful look。

188bet app download:Create the 188bet app download.

Li Jianxin:I am from Nantong，Nantong is a good place，Whether 188bet app download is starting a business or investing，Come to Nantong！

Moderator:188bet app download my third time in Nantong，Mr. Zhang Jian was born in Nantong，Man and vegetation wither together、Does not decay with the vegetation，Thank you, Teacher Yuan！

The second sentence was also said by Mr. Zhang Jian，“Don’t worry about the speed of success，Don’t worry about the small things”。Success does not need to consider whether the speed is too fast，Don’t worry about whether it is small，So what Mr. Zhang Jian said is 188bet app download good。

Entrepreneurship can make 188bet app download a better version of yourself，Everyone, let’s start a business，Thank 188bet app download！Thank 188bet app download all guests！It’s lunch time. I hope 188bet app download all have a good time and enjoy the afternoon game.，Thank 188bet app download！