Text | Chinese Merchants Hall of Fame Gollum
Xu Xiaoping, who once played a role in the investment circle, now seems to have fallen behind.
He has been selected into the 2020 Forbes Global Best Venture Capitalist List, "70 Returnees in China in 70 Years" and other major honor lists at home and abroad, and founded New Oriental with Yu Minhong and others, becoming the largest education and training institution in China, and founded Zhen Fund to invest in a large number of star projects, including Century Jiayuan, Jumei Premium, 51talk, Honey Bud, Ucommune Workshop, and Logical Thinking.
Among them, Jumei Premium's investment has given him thousands of times the monetary return, nearly 300 million US dollars, becoming the project with the highest return so far.
However, in the field of mobile Internet where dark horses frequently appear, there is no shadow of Xu Xiaoping and Zhen Fund, they seem to be far behind by the times, why is this?
This may have something to do with his philosophy of surrender.
Xu Xiaoping attaches great importance to talents, believing that entrepreneurs must know more about his profession than investors, and Chen Ou of Jumei Premium is his proud work, but this seems to be going astray, and he has become valued the other party's marketing and flickering ability.
"One of the heirlooms of New Oriental's propaganda methods is speech."
During that time, entrepreneurs who were close to Xu Xiaoping were extremely controversial, such as Yu Jiawen's hype with "giving 100 million dividends to employees"; Ma Jiajia was advertised as having the power to penetrate the hearts of others, which is what all entrepreneurs need most; papi sauce is known as Lu Xun in the Internet era.
Many people are discouraged by Xu Xiaoping, satirizing him for losing his original intention of "digging up a good company", and even some media have published an article "Xu Xiaoping Invests in Ma Jiajia, Yu Minhong Rejects Yu Jiawen, This is the Gap", in order to attack his series of behaviors.
The consequence of focusing only on exposure is the low quality of products and the collapse of the company: because Chen Ouren is in crisis, the market value of Jumei Youpin plummeted by 90%; after the red, yellow and blue kindergarten incident, Xu Xiaoping admitted his mistake in disguise: "For the sake of China's children, you can blame me." ”
Even though he always adhered to the philosophy of surrender, there were still times when he violated it, so he learned a big lesson.
At a conference, a young man wanted Xu Xiaoping to invest in them, he introduced his team is a high-achieving student who has studied at Tsinghua and Stanford, although he has an annual salary of hundreds of thousands of dollars at IBM, but now he wants to jump out and make the world's thinnest flexible display to win glory for China.
Although Xu Xiaoping was somewhat moved, when he heard that the capital of the A round was 30 million US dollars, he quickly gave up the intention of investment, thinking that it was too expensive and that the flexible display had no future. Many years later, he regretted the decision because he missed Royole Technology, which now has a market value of 20 billion.
Whenever he recalled this incident, Xu Xiaoping would always sigh: "The 3 of them, the world's top scientists and the best talents in China, gave up their best jobs." This kind of person, 300 million US dollars I should also invest ah! ”
In addition, because Xu Xiaoping ignores the general environment and attaches importance to the individual, he misses the "pig on the wind outlet".
When Xu Xiaoping was attracted by the gimmicks of various entrepreneurs, the Internet was booming, whether it was TMD (Toutiao, Meituan, Didi), or Xiaomi, Yingke, all of which were missed by Zhen Fund. In order to make up for his mistakes, Xu Xiaoping looked at the next outlet - artificial intelligence and education, but due to the arrival of the capital winter, the number of investments and the amount of investment fell rapidly, and the results fell short.
Xu Xiaoping, who has been silent for a long time, is still ready to make a comeback, or is he in a slump, can he continue the myth of the beautiful product?
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