Podcast note: 40. VC industry

This blog is the note and review about the podcast for 后移动互联网时代的VC行业 — in 疯投圈.

Podcast link

2009, no one wants to get into VC, but it is best time to get into

Why VC grow fast in China around 2009

1. supply: money (not too much)
2. demand: asset (grow fast): 4G + mobile
3. lower fixed cost, high cost is in (sales, human resource)

How to succeed ?

1. In 2010, get into VC (even hard, but few people know it) -> succeed 50%
2. government encourages startups.
3. In 2014, many startups appears. The demand grows a lot -> opportunity for young people -> before 2014, usually they require experienced people

In 2014, the advantage of getting into VC in China

1. work is easier -> less teaching startups courses -> encourage startups
2. Facing the fewer of startups, it is easy to know big guy (signal/ noise is high) -> less noise
3. easy to evaluate the startups -> copy to China (2016 after sharing bicycle )+ imagine space (ex: mobile video community huge, MAU, survive rate) + great manage team (from BAT, google)

越跟實體經濟結合 就很難直接copy, 國情不同

Now, senior manager run startups -> the success rate is not high anymore -> before no need domain knowledge -> now more combined with domain knowledge (cross industry)

social APP -> pure IT -> hard to run due to red ocean

互聯網+ -> 傳統產業 + 互聯網

Before there are 500 items with 10 successful, we saw 100 items to capture these 10 business

Now, there are 10,000 items with (< 10 successful), we saw 200 items to capture these 10 business

Now, capital is huge but there are good items appears.

頭部項目的市場影響力,估值也高 所有資本追著你