The shareholder representatives present quickly realized that the profits from patent licensing would not belong to either of the two companies that Kechuang will spin off in the future.
This part of the profit will be retained in Kechuang Biotechnology.
A very important part of Kechuang Bio's profit source is patent licensing, not only patent licensing for brain-computer connection technology, but also patent licensing for endorphins.
Together, these two areas contribute more than 80% of Kechuang Biotech’s revenue and profits.
In the era of globalization, many companies rely on patents to make a living.
In the era of mobile Internet, the most famous company taking this route is Qualcomm.
Qualcomm is a chip design company, somewhat similar to HiSilicon. Most of Qualcomm's chips are manufactured by TSMC and Samsung.
In the previous years of the smartphone war, domestic mobile phone manufacturers were proud to obtain the latest Qualcomm chips.
Every year when rice releases its flagship phones, it is emphasized that the new flagship phones are equipped with the latest Qualcomm chips.
Later, due to excessive performance, people gradually paid less attention to chips. Coupled with the economic downturn, most people changed their phones less and less frequently, and the heyday of smartphones also passed.
Even so, Qualcomm collected 1.5 billion in patent licensing fees in a single quarter, in meters.
Of course, Kechuang Biotechnology, a monopoly company that holds brain-computer connection technology for mobile phones, has more revenue from mobile phone patent licensing than Qualcomm.
After all, Apple does not use Qualcomm's chips, but uses Kechuang Biotechnology's brain-computer connection technology.
Even in brain-computer connected VR, the main chips used are still designed by Qualcomm.
“I agree with splitting up the future of science and technology innovation.”
Almost all the shareholder representatives present agreed to split up Kechuang Future.
Everyone realizes that a new era of VR is coming.
Brain-computer connection patents are licensed to other consumer electronics companies, which will greatly increase the penetration rate of VR.
The amount of money that Science and Technology can invest in promotion and marketing alone is limited.
And if giants in the field of consumer electronics enter this field one after another, consumers will be surrounded by VR marketing.
This is the power of trends.
It is difficult for one company to achieve similar trends no matter how powerful its technology is.
Take smartphones as an example. Global shipments of smartphones are 1.3 billion units a year. If one mobile phone is obsolete every five years, that means the number of mobile phones in the world is 6.5 billion.
Blue Star has 7.9 billion people and 6.5 billion smartphone owners, which means there are 82 mobile phones per 100 people.
There are 100 million units of brain-computer connected VR, and less than two units per 100 people.
With the entry of consumer electronics giants and various new forces, brain-computer connected VR will soon usher in explosive growth.
"The Evil God"
The shareholders here are all Internet giants, and everyone is happy to see this happen.
I am worried that there is no new profit growth point.
Brain-computer connected VR will soon usher in a new round of explosion.
...
After the meeting, the relevant news soon became known to everyone who should know it.
Top Internet companies and top investment banks and securities firms all know that Kechuang Future has decided to open up technology licensing for brain-computer connection VR.
Ren Yu reported the matter to Pony after finishing the meeting.
After listening to this, Pony quickly realized that this was both an opportunity and a challenge:
"As for the share redistribution plan, you are solely responsible for this."
Ren Yu nodded and said: "Okay, I would like to ask, among the two newly established companies, do we prefer the hardware company or the VR system company?"
Pony asked, "I want to hear your opinion first.
After all, it was you who went to this meeting.
What do you think the other shareholders thought at the meeting? "
Ren Yu said with a smile: “The only disadvantage of VR is that you can’t observe other people’s micro-expressions and eyes.
But I guess everyone tends to hope to get more shares of system companies.
After all, VR systems are a monopoly business.
Even if Kechuang Biotech licenses patented brain-computer connection technology, all companies that want to enter this field must use Kechuang Future’s VR system. "
In fact, this kind of involves monopoly.
But there are thieves in the future of science and technology. They have never been able to connect the brain to the computer. VR is also VR. There are so many VR companies on the market and there are so many VR systems at the same time.
If they create a new term for brain-computer connected VR, they will be punished even worse by the Europa League and Amerika.
After listening, Pony said: "The main reason is that the hardware company does not have the patent for the brain-computer connection VR technology.
The patent rights are still in the hands of Kechuang Biotechnology.
In this case, it is obvious that the potential of the brain-computer connected VR system is greater. "
"When redistributing equity, we also focus on the equity of VR system companies."
Goose Factory can be said to be one of the first domestic companies to reap the benefits of monopoly.
Both QQ and WeChat have formed a substantial monopoly in the field of communication software.
But I really don’t have a monopoly on the operating system.
Mainly because Windows and Android don’t give them a chance.
Goose Factory did not have the strength to build an operating system before.
Pony continued: “Another very important thing is that a new wave of VR is coming.
We still have a very important thing to do next, which is to find good companies in the VR field to invest.
In the VR era, it forms our moat. "
Ren Yu: “We have been trying to negotiate with Red Fox Studio, and now it is Red Fox Entertainment.
They have always refused to agree.
It feels like they want to go the route of MiHoYo.
Just keep making games, and then continue to invest the profits in the development of new games. "
Red Fox is a company that Zheng Li has been involved in before. With the start-up capital and game engine provided by Zheng Li, it has become a first-line company in the domestic VR game field.
"The Feather of Breaking the Law" has won critical acclaim at home and abroad.
At the same time, the Cthulhu art style they create with their own characteristics is even more popular abroad.
Pony seemed to remember something: "The founder of Red Fox Entertainment seems to be an employee of Goose Factory, right? I remember hearing you say that before."
Ren Yu nodded and said, "Yes, most of their initial team members were goose factory employees."
Pony: "Let's talk again. We can give each other maximum autonomy."
While Pony was talking to Ren Yu about investing in the VR field, Young was also talking to Zhang Lei about it.
"Zheng Li still has the courage to realize that the brain-computer connection VR technology will be licensed to external parties. This time is just right.
I have spent three years building the brand and then opening up the lower-level patented technology to the outside world. This rhythm is well grasped. "
Young was full of praise for Zheng Li. He had always admired Zheng Li and believed that he was one of the most powerful entrepreneurs in China over the years. He could even eliminate him.
Zhang Lei also has his own understanding of Zheng Li.
For all domestic investors involved in the technology field, Kechuang Biotech is an unavoidable case.
Zhang Lei shook his head and said: "This kind of thing should not be planned by Zheng Li.
This was most likely discussed by the executives of Science and Technology Biotechnology, and Zheng Li only made the final decision. "
"That's amazing. Originally, what managers need to do is make decisions." Young explained.
Zhang Lei nodded and said: "That's right, we are busy behind the scenes.
The manufacturer war that we have seen before in the field of smartphones is about to be seen again.
First there was a war between hardware manufacturers, and then there was a war between software manufacturers. "
Young asked: "What type of business are you planning to invest in this time?"
Zhang Lei suddenly sighed:
“To put it bluntly, investing in application companies in the VR field is no different from investing in mobile Internet.
In essence, both are Internet businesses, but Internet businesses in different fields.
There are business model dividends and algorithmic dividends in the Internet business. If you enter the market early, the cost of developing new customers in this track is almost 0.
The sooner you start on a new track, the more customers you can develop.
And if the algorithm is more powerful than competitors, it will be able to retain users.
In the end, the enterprise with business model dividends and algorithmic dividends will be the winner. "
This is exactly the case for Byte. Even if it is targeting different tracks, Byte is still cannibalizing user groups in other segments.
The length share of short videos in the mobile Internet field is more than twice and nearly three times that of online videos.
Today, when big data is popular, big data and algorithms help the elite to "understand" the preferences of every low-level individual, "discover" the needs of these low-level groups that they themselves are not aware of, and create products that are most suitable for them.
Pinduoduo is the best product under the algorithmic dividend, where the elite harvests and the bottom pays.
Young applauded: "The analysis is correct, so choosing the right company is very important. The first-mover advantage is very important, but sometimes the algorithmic dividend of the company itself can largely make up for the disadvantages of latecomers."
“Or to increase first-mover advantage.”
As for investing in all the companies in a track, it would not be a loss if the Gu King that wins in the end can be listed on the market.
This kind of gameplay is relatively common in the biomedical field. In the Internet industry, it has been almost impossible in recent years.
Because when a company enters the C round of investment, it is the company that chooses the capital rather than the capital that chooses the company.
A company will not allow its capital to be invested in its direct competitors at the same time.
For example, in the battle between Mobike and OFO, Mobike will never accept hedging bets from investors.
Even in the mobile travel war back then, between Didi and Kuaidi Dache, the capital behind them could not bet on both sides.
Instead, the capital side forced Kuaidi to merge with Didi.
Zhang Lei asked: "Are you planning to invest in hardware manufacturers this round?
Like the smartphone war, Nubia, Meizu, Smartisan, etc. have emerged.
Would you choose to invest in similar companies? "
Young said without hesitation: “No.
There is no business model dividend for hardware, and there are very few algorithmic dividends that can be enjoyed.
What hardware products compete for is the ability to fold costs, the design ability to make functions smooth and easy to use, the channel ability to deliver products to consumers, and the marketing ability to get consumers to spend money.
It is difficult for a startup to possess all of the above capabilities at the same time.
In the era of mobile Internet, the reason why people chose to invest in these mobile phone brands was because it was a new thing on the market at that time.
At the same time, the collapse of Nokia's mobile phone business and the failure of Microsoft made us realize that this is a brand new field with opportunities for everyone.
But that’s not the case in VR.
Let’s not talk about the companies ahead of us, such as Kechuang Future, which have had a head start for three years.
The field of VR alone is actually very similar to the mobile Internet, and the supply chain is already very mature.
When the supply chain matures, it is difficult for new start-ups to take off. "
Zhang Lei added: “I think so too.
Now it's like the second half of new energy vehicles. Those who can get tickets to play are the winners of other tracks. They have the blood and capital to play.
In 2016 or 2017, the new energy vehicle industry was in the ascendant. For brands such as Xpeng, NIO, and Ideal, the supply chain technology was immature, and it was normal for everyone to lose money.
Investors can accept losses and are willing to persevere.
Now, supply chain technology has matured and everyone is profitable. New startups start from scratch, integrate suppliers, and finally push products to consumers.
It will definitely be a loss in the early stage, and I don’t even know how many years it will be a loss. Of course, investors are not willing to invest in such a company.
Even if rice is used to build cars, it has been at a loss for two years, right? "
Young: “So instead of investing in hardware manufacturers, it is better to wait for the stock price of Kechuang Biotech to fall before buying more.
Or find ways to get involved in the next round of financing for science and technology innovation in the future. "
Zhang Lei lamented: "That's too difficult. There will be no shortage of money in science and technology innovation in the future.
And even if they want money, the shareholders behind it can afford it. "
"That's not necessarily the case," Young explained.
According to the news I have received, Kechuang Future’s hardware company is likely to need financing.
Because they want to design their own chips and put the self-developed chips into the next generation Pico Verse, which is a mid-to-low-end product for brain-computer connected VR. "
Zhang Lei asked: "I remember that it was rumored a long time ago that Kechuang would develop self-developed chips in the future."
Young nodded and said: "Yes, the results are about to come out now.
Then the subsequent design and manufacturing of chips is a huge expense.
It is estimated that appropriate external financing is still needed. This is an opportunity.
I can’t trust startups, but I still trust science and technology for the future.
Backed by Kechuang Biotechnology and holding patent advantages, Kechuang will always have a place in the future in the field of brain-computer connection VR. "
Whether a company obtains financing has little to do with whether the company has money.
Although Kechuang Biotech has money, it does not mean that Kechuang Biotech will invest funds in its affiliated companies without reason.
For example, Apple is not short of money. It has 200 billion yuan of liquidity on its books, but Apple will still raise external funds.
For example, in 2022, Apple chose to issue 5.5 billion yuan of corporate bonds in Americen's high-rated bond issuance market, with a term of up to 40 years.
Sometimes it’s not best to pay all your own money.
Zhang Lei's eyes lit up after hearing this: "This is indeed an opportunity. It seems that I have to think carefully about how to operate it.
Science and Technology Innovation is also ranked first among the projects I have known over the years. "
Young nodded and said: “In addition, after other consumer electronics companies enter the field of brain-computer connected VR, new hot spots will be born.
In the next three to five years, investment focus will be on VR-related companies, and a number of new giants will be born.
I don’t know if I can seize the opportunity this time. "
