Message on June 15th，Chen Weixing, founder of Kuaidi Taxi, guest on "Xiangshuo"，The second lecturer of the first domestic entrepreneurial talk show "Xiangshuo"，Sharing how he built a company worth tens of billions in three years。

The lecturer of the first issue of "Xiangshuo" is Shi Yuzhu, the founder of Giant Network，Chen Weixing is a special guest lecturer in the second issue of "Xiangshuo"，This is also his first public speech after quitting Kuaidi Taxi。

On the "Xiangshuo" forum，Chen Weixing looks back on his entrepreneurial history，Told how he built a company with a market value of tens of billions in three years。Chen Weixing thinks，Entrepreneurship is a very holistic thing，Rather than just looking for an opportunity to make money，It’s about having an overall strategic layout。

Today Kuaidi Taxi has transformed from an independently operated taxi software company into Kuaidi Didi Taxi Group，Kuaidi is the dominant player in the mobile taxi market。But Chen Weixing’s dreams and expectations may be far more than that，Logistics、Carpooling，Subverting the travel methods changed by mobile Internet，New war will spread。

The following is the live record and wonderful Q&A of Chen Weixing, the lecturer of the second issue of "Xiangshuo":

We made a lot of products in the early stage。I do it fast because I am in Hangzhou，It’s hard for us to get a taxi。Because I can’t get a taxi，So I made a taxi app。At that time, I didn’t expect that this software would become 188bet sports betting app download what it is now，11 billion US dollars，Never thought about it。

Initial thoughts，Just want to take a taxi，Then there is virtual currency inside，After the driver takes the order，Just give us some money。Later I found out that the driver refused to pay，What should I do?？This Kuai incident has changed me on another level，He made me see the power of capital。Those of us who were entrepreneurs in the past，We focus on very specific things，But the whole process is faster，Capital is very explosive for changes in things，Even dominant。

After exiting Kuaidi，I feel the entrepreneurship now，It is a very holistic thing，Rather than just looking for an opportunity to make money，It’s about having an overall strategic layout。

Later, I will summarize several characteristics of such a project，The first feature，Generally, people’s livelihood projects will attract more attention than non-people’s livelihood projects。After finishing the quick one，Many people know me，The first thing is to use our service，Have feelings for me，I helped him knowing this service，Help with daily life，Can gain respect。This is different from the game，Gamers are done with it，I have a bad relationship with the producer，People’s livelihood projects will bring good feelings。

The second one will last longer，Because this project is people’s way of life，This kind of service can be provided to mankind for twenty or thirty years from now on，It will last forever。Not like a game，Short life cycle，Continuous development。

After the third scale is up，The bottleneck of financing is relatively small，Not too bottleneck，It’s easy to get this money quickly。For us entrepreneurs，When there is a chance to find a small dot，Become a quick way to make a project bigger，A game to expand capital。I felt it at that time，Doing something like this that changes people’s livelihood，Maybe more valuable to an entrepreneur。The reason why I stopped focusing on doing this later，I hope to spend more time doing things related to people’s livelihood。

As fast as now，There may be many questions，Everyone knows how to make money。188bet sports betting app download I have been suspected for the past one or two years。At that time, we will talk about cloud transportation in the future，There will be various forms of vehicles in the future，Turn vehicle ownership into vehicle use，Turn travel into a service，Can be shared。These ideas have now become a reality，Everyone can feel it，Now everyone can share the transportation capacity，We believe in the future of travel services for ordinary people，It will definitely run on this platform。

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Chen Weixing: I was switched，I also wanted to make money by taking a taxi at that time，Later I found out that I couldn’t make money，I never thought I would burn money like this，No one knows。You are forced to spend money，A reason caused by competition，There are many accidental factors。There are such accidental factors in life，Every entrepreneur，Others’ successful experiences are basically meaningless，The experience of failure will be more meaningful。Change the concept and see the essence，Whether you make money or not is not the essence？It doesn’t matter what major you belong to。I used to study civil engineering，University doesn’t play games either，I just opened a game company。There may be no way to explain this。From my perspective，I can explain，I just talked about it，Why I make games，Because it’s not fun to be on campus, it becomes a game，It is a natural process。

Guest: The most important product in Kuaidi is to burn money，How to get this money？

Chen Weixing: This is not who decides，Ma Huateng was the first to figure this out，He thinks there will be a good company in traffic，So I invested a lot of money。After he became rich，Ma Huateng wants to push payment。Alibaba is a company that doesn’t think so clearly，But don’t be afraid if you hit it，So fight，How much do others give，Whatever valuation the other party gives。So there is no logic。

Guest: Suppose you invest more than 100 million，How to convince us to invest money？

Chen Weixing: You help them make money，Actually, I think，The only reason to have resources is to have more resources，188bet app download As long as you make money, the resources are yours to manage。What you have to say is to convince yourself，Believe that you can make money。If you particularly believe it，You don’t even want his money，I want to start a business。If 100 million is invested in this project，Can earn one billion，There will definitely be no need to work anymore。

Guest: About Kuaidi Taxi，Why is a fast taxi worth 10 billion now？

Chen Weixing: The story is that all vehicles in the future can be scheduled using this platform，Become a cloud vehicle，Cloud Traffic。These services in the future，The main function of a car is to provide leisure services，Providing these leisure services is through these dispatches。Now the largest taxi company in the world，There will be other means of transportation in the future。This way the taxi can get a little deduction，What is the percentage deduction for each order。It is the vehicle service angle。

Why is it worth so much money，In fact, we only consider the possible profit margins，There are also a bunch of VCs bidding，The essence of the financial market is not necessarily that you will make a lot of money，Many are the gathering of confidence。When you have confidence, you will be very valuable，When you have no confidence，will collapse。Is our company worth 5 billion US dollars or 10 billion US dollars，Its reasoning method is not based on this essence，But a dream for the future，How much will it be worth in the future。If it can be done well，Investors said it’s acceptable to make this much money。I just talked about it，If you start a business，Still need to understand the secondary market，How to value investors in the secondary market。

Guest: Kuaidi Taxi Passengers and Taxi Connection，What do you think about logistics issues。

Chen Weixing: Now we are also working on logistics projects，But it’s not easy。VC has a low IQ，Most VCs are like this，In those days, when you took a taxi, you would have various reasons to tell you that this was not possible，This is wrong。One year later，Various VCs use fast taxis，Using the example of taxi hailing to educate entrepreneurs，188bet app download How to do O2O，Including educating me。We used to take a taxi，Dozens of companies did it back then，It is true that it was not successful，Kuaiti Taxi is the first to become effective，There are also some mechanisms for good product design。Nowadays, everyone thinks that funding is particularly simple，It seems that your dispatching vehicles must be effective，Just throw money。But I don’t know why scheduling is efficient，And the design of this product is much more difficult than the original big car。Essential reasons，After the VC confidence was boosted，You will be overconfident，The problem of over-understanding the ease of starting a business。

Look at how popular VC investment is now，More than 90% of companies will definitely die，Don’t look at your investment，Just random money，Start a business in this atmosphere。90% must be dead，Only a few can stay，This is true in any industry。There are still very few really good models at present，There are many things，Especially now that many entrepreneurs are bad，I like to fake data。Look at subsidies，Said subsidies make sense，There are subsidies for logistics，Logistics can be subsidized，Especially investors’ logistics，He can increase his salary a lot by subsidying 50 cents，These things are useless，But how do they calculate it？Because subsidies are correct，Because the taxi-hailing industry has proven that subsidies are a very profitable mechanism，So I copied other areas。

Entrepreneurs need to understand，You still go with your intuition，Return to what is the final customer value，Is it really possible to improve efficiency，If this thing is not right。This is what entrepreneurs need to know，After VC makes money, it can use the money to buy out other people’s time，If you do a popular thing as an entrepreneur，Then put all yours in。If this thing is not right，You have the intention of committing suicide，Because every day is hard，Every step is painful，Everyone knows it may be a waste of time。This is very difficult for entrepreneurs in the survival period，There are some companies that 188bet Online Sports Betting and Casino are hard to talk about，Some CEOs want to commit suicide，There is a project that is very bad，Very tired，But VC asked him to hold on。So I can only persevere，Entrepreneurs must return to their original aspirations，Do what you love、Want to do，Things you believe in，Don’t believe in money。Generally good projects，VC can’t even understand it，Because it’s really good，Exceptionally good stuff，It’s just easy to understand。Especially good entrepreneurs，VC can’t understand it either，It’s because ideas are different from people，But VC thinks every day that you are lying to me，If you think differently than me, you are lying to me。This is the current situation of Chinese VC，IQ is not high enough。