Wednesday, October 20, 2010

Sina, Focus merger triggered change in the situation: who's Sina?

The acquisition of a seemingly beautiful, the Sina thrown a vision of a better future well-being of the wave, but also it's future at the helm were more elusive.

22 night, Sina official statement announcing the issuance of 47 million common shares for the merger and acquisition, Focus Media's digital outdoor advertising.

1 is the largest Internet advertising media, a company with China's largest outdoor digital advertising network, this "powerful combination" of the marriage appears to be so perfect. However, the Company's ownership structure itself is very fragmented, so never have absolute control over the formation of the shareholders.

Wang Zhidong from sudden sensational year, "class" to the now single-handedly led to the acquisition of Focus drama of Charles Chao, Sina's helm turnover. In the past nine years, for a total of 5 Sina any CEO, this is the gift of thanks to its dispersed ownership. The Focus and the market value of roughly the Sina Sina to "take" this monster, must make their equity control of regeneration variable. Welcome to enter the house as the Focus, Sina's board of directors will place new personnel earthquake? All become more complicated and confusing.

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Tuesday, October 12, 2010

Zhou Hongyi: difficult to start off on how conservative estimates are not

Not strive for progress, first think back, not a conservative estimate on how difficult

What is the basic premise of business? Is not an investment, not a good product. The premise exists in the heart of the entrepreneur.

"No progress, first think back," This is particularly true business process, so start the beginning of the first to have thought of failure to prepare, in advance of the cognitive difficulty, how estimates are not conservative, so in the face of suffering and frustration time will not feel so difficult to accept. After ten years an entrepreneur has been successful, you have the determination to suffer in this decade also eat again, even more bitter than he, even, or unsuccessful?

From a strategic perspective, to do business is a great cause, but this great cause by trivial things, difficulties and problems of composition, as long as is necessary to do business day after day, year after year to solve these problems. In the course of business, there may be a lot of people laugh at you, or others to do better than you, or product development do not come out on time ... ... you are having problems are more than N so that you feel the business is self-torture. If the urge to just start seeing other people's business from the market, and selling them for cash, and the success of scenery ... ... it should not venture. These motives are not enough to sustain a person insisted in the end.

Entrepreneurs are "idealists"

To some extent, the entrepreneur should be an idealist, something that can not be materialized perplexed. If a person's entrepreneurial motivation is for some external, something which materialized about this factor will work today, work tomorrow that element, but nothing after the past ten years.

I have also had to lecture on campus, and many students have had exchanges, I found a phenomenon that many graduates are always in consideration: I'm going to northern development, because my girlfriend in the north; I'm going to this company not go to that company, because the company is said to more than five hundred dollars that companies with high wages, or because someone in our class went to the company, he went to, I can not go?

These ideas are wrong from the start. Make their own career development, life trajectory depends on the number of external things - these things matter? Your heart want? Most want to pursue your heart, before graduation you should seriously think clearly, should be to pursue after graduation. So you can follow a target and unswervingly follow, although not necessarily go straight, but always go to that goal.

When I left the Founder, to leave at that time seem to have good jobs and income, many people think that to give up, this courage is so hard, in fact I do not think, because I know what your heart wants, I want to understand is that a dollar a linear equation, only one factor in determining my choice is I want to do a lot of people can use the software, when the Founder has not let me achieve this ideal, I chose leave, if you want to clear these things, then the position, vested interests, the invisible stuff visible on the not important.

Therefore, the important thing is values, "man is man, spend, and God to", the entrepreneur should have such a mind.

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Tuesday, October 5, 2010

Kai-fu Lee entrepreneurs need to have sufficient "relentless"

Internal staff eyes Kai-fu Lee is a good boss. Last year in November, he went to India on business, after 20 hours of transit flight, he reached Bangalore airport only to find his secretary forgot to apply for visas to India, returning in Beijing, he was not on the Secretary of the angry, just tell her "again", the Secretary of his Dao Shi cried hard, upright, and has been brooding. To resolve the Secretary of guilt, Kai-fu Lee a few days after the departure to the Kunlun Hotel attending the conference, deliberately ask the secretary, "Will the Kunlun Hotel, applied for a visa you help me?" After the laughter, is subordinate to be of open mind. Technical staff are the eyes of Kai-fu Lee know how to engineer a culture of managers, engineers, said he most often a phrase is, "I do not agree with you, but I support you." The other word is, "What do you think? Have What can I help you? "a Google executive and the two general's search engineers think they do not support other people, they go to Kai-fu Lee, Lee is also very puzzled about this product, but said," If you understand the difficulties which are still willing to invest after, then I'll support you. "later became Google's search is an important product.

Such a person to leave one day, Google suddenly what happens when business?

First, his secretary going with him firmly and he agreed. He made other people want to go, he declined, because to remain in Google's treatment more favorable.

Second, the engineers on their rush, Kai-fu Lee announced his resignation at the start of the day, innovation workshops cover letter received 7000.

Third, the media entrepreneurs Kai-fu Lee that coverage from even the most acerbic comments normally are, for the resignation of Kai-fu Lee made good business is only a reminder.

Fourth, there are more perfect than this case you start to resign?

The last time the resignation of Kai-fu Lee also shocked the world, Kai-fu Lee has thus become the cover of the media, but not his personal will, Kai-fu Lee was only Microsoft and Google, the struggle between the two giant biscuits.

In the September 5 two weeks prior to departure leaked, Kai-fu Lee will wake up 15 o'clock every day online, in addition to checking your e-mail investors, more important thing is to "look online there are no negative news, news leaked out there . "Kai-fu Lee caution, treading on thin ice," the left is full of crisis. "He sighed, then he asked," Do not you think? "

The outside world certainly will not feel that way, read the various media and polls on the Kai-fu Lee's evaluation, the use of the "most negative" of a word would be "controversial", the so-called "controversial", but is implied Kai-fu Lee good business reputation, and even some speculation components. Kai-fu Lee cherish the reputation is well known, in Google China a few years, Google has from time to time suffered slings and arrows, the most to Kai-fu Lee tryin is his personal morality, malicious attacks, such as Google Inc. to make a collective late submission of personal tax to be interpreted as "Kai-fu Lee for tax evasion "This report him" very hurt. " Kai-fu Lee is difficult to blame any fault cherish honor, Kai-fu Lee often went to the University of speech, if Google is related to the promotion and recruitment, the expense of the company's expenses, if only the individual nature of the speech, he will bear their own costs.

Kai-fu Lee's careful care of the personal brand in his own company receive a return. His business plan 5-year cost 800 million yuan, when he took out his business plans, venture investors, WI Harper Group immediately agreed to invest in shares, known for 8 years, a friend, Hon Hai Group, Terry Guo became the Kai-fu Lee Venture project's largest shareholder, said that Kai-fu Lee Hon Hai to invest in innovation factory 500 million.

Gou even Kai-fu Lee is an important promoter of business in 2009, a key to communicate to them the Internet. In the past, manufacturing Gangster Gou idea is "big business is hard," software, the Internet is not big business. May 2009, Terry Gou and even special went to Beijing to find Kai-fu Lee talk Google's business model with the culture, "I am not very sure the software with the Internet in the end can not make a lot of money, this time I believed." Gou asked Kai-fu Lee, you will not come out to open such a company, I would like to support you.

Kai-fu Lee went to see Liu, chairman of Legend Holdings, YouTube founders Steve Chen and the New Oriental Group Chairman Mr Yu, they got their investment support. Liu raised the issue to the Kai-fu Lee: you start with the idea of separation of entrepreneurs, and will not let his lack of passion? Kai-fu Lee made a brief answer. A month, Kai-fu Lee had to cobble together the necessary 200 million yuan of funds early.

銆怟ai-fu Lee said: "The left is full of crisis."銆?br />
End of the interview, we asked Kai-fu Lee: "In your career, which one is your most dangerous of the hop?"

Kai-fu Lee said: "It is Microsoft that once."

However, Kai-fu Lee entrepreneurial hop, the most "dangerous" test in the back.

Kai-fu Lee from the summer of 2008 began to consider the end of his manager career, from a university teacher, to join Apple, SGI, Microsoft, and eventually became Google's global senior vice president Kai-fu Lee's professional managers of the road in Google has reached the highest point. However, through the passion to create a Google China after a period in the last year of Google Kai-fu Lee thinking about quitting. Microsoft, like Google in China's commercial operations are many political factors, while Google's global practice has with the local Chinese policy has all kinds of conflicts, which led to Google in China frequently fined Microsoft in China beaten, Bill * Gates and Ballmer is not the time come to China to show good repair, while Google's two founders Brin and Page have yet to set foot on Chinese soil.

His first choice is no suspense, like many professional managers engaged as a fund raising venture capital, just as he was about to pass to find investors, Lehman Brothers crashing to insolvency, the planned venture capital funds suddenly nothing happened. Not contract with Google to do not invest, put in the Kai-fu Lee left the road in front of three: a multinational company to another, to private enterprise, to business.

These four paths are "workers" in the eyes of the star CEO Jun Tang a key exit route, even "helplessness", Jun Tang to the "Chinese entrepreneurs," Reading said, to multinational corporations, "You have a little better than the original business , posts should be slightly higher, are generally very difficult. The point is, you are Microsoft, do not necessarily come to IBM, IBM also do not want you, HP's you to Microsoft, Microsoft does not necessarily want you to, this very embarrassing. "

To private enterprise, Tang Jun said that "the road of private enterprises is very rough, difficult, and it is not easy, is not an ordinary agitated, and there will be very different, can not call drop, a huge difference."

To entrepreneurship, Jun Tang that "this is the most difficult path. To make a 3-5's relatively small so a little bit of successful companies, is an extremely difficult task, perhaps one can be done. Problems In this company is not a sustainable business model is not a profitable business model, is not replicable business model. "

Selection of the most dangerous that road Kai-fu Lee shooting photos, we reveal a voice to, "I do not want the boss!"

He thought with a small capital investment in Angel, because he saw the U.S. technology start-ups, 40% of the investment from angel investors. Silicon Valley's entrepreneurial model is based on an information flow, a network of resource-rich environment, "because the smart people know smart people, very open, willing to share information, have Idea to find a VC, someone help you pull strings, you to pull strings, click on the got the money. " The "Chinese people are relatively unwilling to share information, I have a good idea, I do not tell you, I know good people, I still in my possession, I do not introduce it to you."

But Kai-fu Lee is not willing to make a simple angel investors, "can be said that Hong Zhou, Lei Jun, or play a role in Deng Feng, Kai-fu Lee joined the ranks. But from the three angels into the four angels, not of much help." He like, "Can large-scale angel?"

This year in June, Kai-fu Lee recalls his time in the hospital in this life, "What time I am most happy?" The answer is "the happiest time is when the creation of Google in China, there is the time to create a Microsoft Research, the two the happiest years of my time. "So he thought to do," a company that I always create a company. "

Combination of the two, he decided to do a creative workshop, volume manufacturing innovative company. The Internet, mobile Internet and information technology industry is focused on innovation and project workshops.

Kai-fu Lee's innovation factory is like a technology company and angel investment mix, he called it "organized angel investment and innovation", in this platform, Kai-fu Lee's mission is to "integrate", "I were to to optimize the good ideas, good entrepreneurs, a good engineer. "he said, once the project incubation mature, their investment will be creative workshops, and will strip out the company's entire team, independent venture capital firms to go public is acceptable The road can also be sold to other companies.

This model can give full play to Kai-fu Lee on a high technology project management experience, a variety of resource integration, as he did at Google. But this seems an ideal model now seems an obvious defect, for example, the project may not be the last person who led the project, which would obviously hurt the entrepreneurial motivation. Also, the innovative entrepreneur workshop platform does not require its own investment funds, on the contrary, they can get in the creative workshop where a sufficient living wage requirements, it will not lead to the potential entrepreneurs are not Excited enough? "This is a very good question." Kai-fu Lee replied, "I think we can give him money, but I think that depends on the individual's economic situation." innovation workshops, there are many blind spots pattern, Kai-fu Lee is not without looking , "I can also consider the future, but it is, and now what are considered to 璇? I do not time to do things, and what are actually a Dao Li Shi Qing Douyaolijie, you can not catch." he said.

These problems do not really worry about, plenty of room to adjust the business model. In fact, the biggest trouble is that Kai-fu Lee exemplary professional managers, can be found in their own business when the wolf, there has been enough "relentless" Jin you?

"Savings, hard work, you can think of it as a kind of relentless." Kai-fu Lee to answer. For example, he said, had to buy innovative workshops in the domain, the other party to ask 2600 U.S. dollars, is this seems perfectly acceptable figure, Kai-fu Lee last obstinately price Kandao the 1000 U.S. dollars. The company's office space is also his own in negotiations. "I rediscovered my passion." He said, "Over the past week or so, I only sleep four hours, but I'm not tired."

Next, he demonstrated his long list of rebels, "ruthless" side, "I can not put people who perform well Fire (fire) out? No doubt that in the past I can. I can not do moral thing to bully a competitor? that I can not. I can not compare things to do localization? I absolutely can. I will work very hard, and then ask employees to work hard? I will. I will not be pounded his desk curse? I will not. but I will not use very strict criteria to tell the staff, if you do not meet this, there will be serious consequences? this I will. "

've Had entrepreneurship Jun Tang, Kai-fu Lee to see this venture enemy, "the biggest enemy is himself. China is not lack of market, China does not lack talent, but China is the lack of real market opportunities may seize them."

To buy their own domain name, choose to rent space for himself to the engineer to buy lunch, Kai-fu Lee has never risen up posture keep up appearances, but he could be like China's entrepreneurs keen found brutally growth?

"In fact, our bet is that I can see clearly that engineers, entrepreneurs and ideas, then I can match them together, that very few people can match me." He said, "I also recognize that kind of excessive brutality, especially Xiasan Lan things, I might not inferior to other people, I hope the former is far more important than the latter. "

However, he changed the subject, "I might do something for those brutal, more than you imagine."


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