When Yang Jiangang heard this, there was indeed a big difference. He immediately took a breath of cold air, but after sucking, he still didn't understand what the difference would lead to?

Chu Yuanxi said: "If we had done animation at that time, the online broadcasting platform would not rub sand in their eyes, and they could see clearly how much traffic they brought to people. One user would be able to drive a class of people, and even more. What about us? Mainly single dogs in the social animals are one order of magnitude worse than others. Then won't there be flaws directly? On the contrary, there will be no such difference in TV series. So, don't you think of spanking people..."

When Yang Jiangang heard this, he thought to himself that Ali is about to stage a tragic comedy? You are still happy. At that time, Alibaba’s department in charge of animation will not beat you to death. What are you so proud of?

"Hey wait." He suddenly thought of a new question, and it was very sharp: "I'm not the first person to ask about animation, right? How did you reject others before?"

"Oh, it's too simple." Chu Yuanxi and Yang Jiangang didn't need to hide it. "The traffic of large-scale animations is high and the investment is huge. However, the traffic of the same scale has limited influence. It can be understood as the "cost-performance ratio for gaining influence" is very low. Just refuse it. Well, you and your 'friends' can also say the same."

"But how is this possible?" Yang Jiangang couldn't understand at all, because he was an animation practitioner. "If the cost-effectiveness is low, wouldn't what I do now be bad? But no one in the entire market, whether it is investors or my friends, thinks I'm bad."

"Because you are building a platform, the low cost performance is low, and some of the influence is taken away by the platform. You are the party who benefits. What I am talking about is that for me, the copyright holder, the low cost performance is low."

Chu Yuanxi said, thinking that I have mentioned so many "friends", why did Yang Jiangang not react at all? Is he learning to hide his emotions? "You think, the TV series audiences are playing CP, directors, costumes, and even screenwriters. These popular platforms are not touched. I think of ways to do activities, and these traffic can be guided to me. Is animation suitable? If you play animation, it becomes a platform and find a way to do activities. So, do you know what you should do in the future, right?"

Yang Jiangang suddenly had some intense thoughts. He changed his position to Baren. Based on the scene a year ago or even half a year ago, according to Chu Yuanxi's statement, it seems that animation is nothing more than a price issue. What the Baren Group earns is only the difference between production costs and online broadcasting platform procurement costs.

That's not much meaning. It's hard to make and negotiate, and finally recorded a revenue of less than half a month for mobile games. The biggest significance is to create some new paid users for the platform and improve some stickiness. Why bother?

Chu Yuanxi looked at Zhao Jie, and he was still having a meeting. There was no way. Zhao Jie is now in the same company. Everything is busy, and all work hours are arranged. Everything is very important. It is different from the past when you call me and walk away. You must give enough respect. Therefore, Chu Yuanxi greets Zhao Jie in advance, for example, in the morning, I will say hello to him: I will talk to you in the morning, this is how.

As a result, after saying hello this morning, I changed my mind in the morning and released Zhao Jie's pigeon. So, don't you have to wait to come and look for him now?

"Hey, Yang Jiangang, why are you looking for Zhao Jie? Shouldn't you just come to me for this?"

"I'm here to find Yu Wenhui, and I was going to find you later." Yang Jiangang scratched his head, "I heard Yu Wenhui ask him to find Master Yu Suzuki? He even had an interview? Why didn't he call me?"

Chu Yuanxi said that he had a dime with you? He asked you to come to your fans to meet your idol? Then wouldn’t he cause trouble for me?

Yu Wenhui was not here and didn't know where to go. Now he and Zhao Jie are still working in Baren, but they will soon move to nearby, such as next door on this floor, opposite doors, etc. For them, only if they go out independently in space can they form a real independent consciousness and form the habit of independent thinking from their own state when dealing with events.

Immediately, Zhao Jie and Yu Wenhui will feel the analgesia of independence - the whipping from Chu Yuanxi, just like Yang Jiangang once felt. This is their inevitable path to embarking on the entrepreneurial path.

However, Yang Jiangang is also a company's ceo and needs to be given corresponding respect. So Chu Yuanxi's words turned into: "Why are you anxious? There are many opportunities in the future. Yu Suzuki's team will come to the company to develop, and when you see you, do you find me just for the TV series "The Unfaithful Lord"? Then I'll leave."

Chu Yuanxi said he was leaving. As for Zhao Jie, he asked him to get off work and chat. Unexpectedly, Yang Jiangang grabbed him and asked, "Hey, wait a minute, I heard Yu Wenhui say that you and Yu Suzuki think that cloud games will threaten console games. What do you think? This is contrary to common sense."

"Common knowledge of shrimp?"

"Common knowledge is that Nintendo can be beaten up by Microsoft and Sony, and it depends on the exclusive use of the first-party IP game. Console players basically buy consoles based on the game. Whoever has more IPs and whoever does better games will sell more consoles. As long as a large console manufacturer can develop high-quality games on its own, its consoles will not have to worry about selling them."

"You are barely common sense in the past." Chu Yuanxi began to be broad-minded again: "It's said that you have to learn more and think more. Your cognitive upgrade is imminent. Lao Yang, when you enter the IP address, you must learn to examine this industry with a developmental perspective, otherwise you will be thrown out of the car in minutes."

"No, Chu Yuanxi, promise me, can you justify yourself before zhuangability?"

"The reason is that yours, the real military is not, the tactical ones, and I don't understand. Why did players buy consoles to play games before? Is it fun? Yes, but it's just one of the reasons. The more important reason is that the selection area was so wide before, and there were so many high-quality games. You know better than me that there are such a chain of contempt in the game world, such as "hosts, platforms, stand-alone, PC games, and mobile games". Of course, the host circle can rely on IP to build a fence. It is normal for players to buy consoles in order to exclusively occupy IP games. Is this the logic?"

"I know, what are you going to say?"

"What I want to say is that this chain of contempt is about to break, and the future will be the era of cloud gaming."

Yang Jiangang looked at Chu Yuanxi with his eyes squinted: "Don't talk about concepts, okay? The concept of cloud gaming has existed ten years ago. Do you know that in another week, on December 4th, Nintendo and Penguin will hold a national switch press conference? Do you think Penguin is stupid?"

Oh, have you learned to talk back? Chu Yuanxi said that you need to educate me carefully.

"I didn't see how Penguin signed a contract. I have no way to judge whether it is stupid or not. However, games are the main business of Baren Group. I am a practitioner. I know that the way of playing domestic mobile games in the past will definitely not be able to continue. Every time the bandwidth expansion will create new things in the game circle. This time, it is undoubtedly the popularization of high-quality and large-scale productions.

If I say this, 5g is popular, the game ecosystem will inevitably be divided. On the one hand, ugc games are prevalent, and they rely on user creativity to take the lower cost route. The more users, the more creative they are, and win by volume. On the other hand, it forces game manufacturers to comprehensively improve the quality of the game. From content to performance and even gameplay, you will not change, and if others change, you will fall behind immediately."

"What does this have to do with my console game?" Yang Jiangang directly brought himself into the console game, which was quite a bit of a noble spirit. As an old planner for more than ten years, he is still loyal to the game and also plays console games. This is one of the reasons why Chu Yuanxi respects Yang Jiangang's professional skills, but it is not good to be blind because of this, it is very bad!

Therefore, Chu Yuanxi said coldly: "In the past, you could only play 3A masterpieces that you could play without using the console in a year, but there are not necessarily types you like. In the future, there will be dozens or hundreds of 3A masterpieces that you can play with your mobile phone every year, and the selection range will increase by more than ten times, or even more, and there are all types. There are many fun ugc games, with low cost but sufficient creativity, and there are always tens of thousands of models a year.

There are still a few exclusive IP games that you support for your console games. You spend thousands of dollars to buy a console. Are you sick?"

"But……"

"Don't, face the future! Games are also a battle for user time, and it is the most fierce competition. The bigger the production, the more time it kills. You, understand? Let me tell you this. The traffic on the Internet is equivalent to river water, and the exclusive IP of the host is equivalent to river beds, protecting its own traffic and forming a private domain. In ordinary times, it will naturally have good weather, but when the historical waves come, the river bed will also be washed away.

The more open and circulating, the less effective the private domain is, I don’t believe that in the 5G era, two or three IPs, can build a fence of hundreds of billions of dollars to block the flood peak. You are just too serious about the old concept, so quickly train your way of thinking, otherwise it will be your only destination when the new wave appears. I don’t want Baren’s investment to be wasted.”

"As you say that, aren't the host manufacturers going to finish playing?"

"Nokia and Motorola can fall, what is the host?" Chu Yuanxi thought for a while, "But it is not absolute. The hosts can continue to cut off their old users. The old IPs must use the new host to launch new games. The old host cannot carry it, so the user can be cut off. What do you think of this method?"

"You are just immoral and you..."

"Just kidding... Actually, I think the OEM may adapt to the times, right? Make use of the advantages accumulated in equipment and be the first to enter VR or something. In the future, it is likely that the VR field will be the C position of the host factory station."

After Chu Yuanxi finished speaking, he went back with satisfaction. In the afternoon, Zheng De called Yuan Jing and invited him to participate in a venture capital forum. On December 4, the forum would like to select the annual ranking of Tianchao Equity Investment in 2019. This is a ranking for investment institutions and investors. Because it has been held in more than ten worlds, the initiator is also a big shot in the industry and can invite important guests, so it is still a very important ranking.

In terms of rankings like this, it doesn’t matter which one ranks, because there are too many py relationships in it, and the key is that there are more than one name. There are angel investment rankings, early investment rankings, investor rankings, active rankings, and even fundraising rankings.

What is more excessive is that when it comes to investment, we must artificially divide the rankings of "venture investment" and "private equity investment" that are not parallel at all. The organizer can be said to have taken great pains to better distribute the honors.

Because of this, the lack of name on the list will make it more embarrassing to be a high-end investment institution. Zheng De was on the list a few years ago, but he has all failed in recent years, so he attaches great importance to it this year.

Zheng De was very active during this period and gave people a feeling of being a tiger. In fact, Chu Yuanxi knew that they were not rich on the books, so he really didn't get any rewards, because he didn't hit any iPo in the whole year.

In the first 11 months of this year, after hitting the IPO, there were 50 companies with a return of more than 1 billion based on book value. Therefore, as a main investor in early private equity, Zheng De did not have much advantage when comparing book returns this year.

However, the popular indicator for the fund industry this year is DPI, also known as the investment capital dividend rate. In this regard, Zheng De's statements handed over are very bright.

The simplest understanding of the so-called capital dividend is that it does not consider how the fund exits. As long as it makes money and exits, it is a good investment, and it can be divided into profits instead of losses. Those funds with high book returns look very good, but when the lock-in period passes, they know how much is left on the book. And if you want to exit, you need a bull market. The open market in the bear market also lacks liquidity. Early investors want to exit? You can sell it without limits!

One of the highlights of Zheng De was that he invited Du Shuang to invest in self-media in the first half of the year. After that, I don’t know whether Du Shuang knew shame and then braved or because she was eager to increase her voice after investing in Fang Shiling? It may also be that Yuan Jing’s kindness changed his depressed and unsuccessful mental outlook when he invested in Daxia, and in short, he became very active.

And he is different from Yuan Mu. Yuan Mu is looking for projects in the field of IP self-media. He will do research when he sees good things, so his energy is relatively scattered and it is not easy to form a correct methodology. Du Shuang only does Douyin short videos, and almost only does urban outdoors, shopping malls, and exploring shops. The indoor contents of these indoors are also classified as outdoors, of course, mainly street photography beauties.

This concentration makes it easy for him to try and make mistakes quickly and find the most favorable investment path.

Just as the second half of last year began, two major players in Douyin, Kuaishou has turned its firepower in the short video track, providing extremely important support for the short video e-commerce environment. Therefore, advertising for goods has been increasing and increasing volume, because merchants can make money through Douyin and Kuaishou’s advertising.

This kind of real money will reach wherever it goes. Therefore, a large number of m grow like bamboo shoots after a rain. In this process, the support of the capital market will inevitably be needed, making investment and financing extremely active. Du Shuang happened to catch up with this wave of **. After entering the market, she found that she had the opportunity to exit calmly during the early investment process. Some people were willing to take over the market in the medium term and buy "certainty", and then he started to take small steps and run quickly.

In fact, buying and selling in the equity market is a manifestation of confidence. The open market is nothing more than a supervision by the China Securities Regulatory Commission and an additional layer of nominal protection. In the open market, if someone is willing to trade opportunities and some are willing to take the risk of buying, equity transactions can also be carried out.

At the same time, Douyin m is a subject matter that speaks with data, which is very suitable for early trading.

The reason why many non-public equity transactions are difficult is that due diligence is very difficult. If investors want to invest some money, they must be particularly experts to avoid being deceived. Unless it is a celebrity product like "Come in Troubled Times", the data is public and there is very little room for hiding cats, so it will be easier to trade.

The situation of Douyin m is similar, because there is a situation on Douyin that the cost-effectiveness of fake volume is not as good as posting real content to attract real fans. So whether you buy or sell, just look at the data, then examine the content, and think about the future monetization situation. It is very transparent.

Therefore, Du Shuang has made dozens of investments in the past six months, and a small half of them withdrew after a few times of value increase, and the profit multiple of the exit actually reached a high of 6.3 times!

This is quite terrible. You should know that the highest returns of my big A-share iPo are in 2010 and 2017, which are only more than 8 times. In a relatively bleak year, such as 2015 and 2016, it only has more than twice.

Du Shuang's investment is not big, it is a small project of millions of dollars, but after fast in and out, it forms a profit of hundreds of millions, and it is not on the books. This is a group of people's krypton gold eye when counting DPI. The key is that this rate of return is extremely fault tolerance, and you are not afraid of half of the investment.

However, this is not the main reason why Yuan Jing is very timid. Many people are optimistic about Zheng De because there is a legend that the capital market will recover in 2020. Whether it is my big A-shares or venture capital sector, it will usher in the heat wave. They all say that the previous suppression was too harsh, and the economic cycle cannot always decline.

Under this tone, Yuan Jing has invested in Baren Entertainment, a well-off life for more than a year, and there is also a large-scale snow project. These are either already star projects or have huge potential. Once the capital market recovers next year, it may explode.

Among them, the snow project that Chu Yuanxi hadn't been concerned about for a long time has actually expanded the plate several times. Yuan Mu knew that he was busy. Every time he expanded the investment agreement, he would just say a few words and ask him to sign it. Chu Yuanxi never asked in detail.

This time, Yuan Jing's assistant called and said in detail. He then found that the plates on the snow project had been more than 4 billion yuan, and he ate into a scenic spot chemical project and several ski resorts, and extended to the upstream equipment field. Therefore, his share was diluted to 1.3%, which was three times faster than the 20 million he invested in.

"Okay, OK, Wuzhou Hotel on December 4th, right? I'll definitely go."

"Uh...Mr. Chu, can you provide a brief explanation of Baren and Xiaokang?"
Chapter completed!