“The questions just now are all at the product level, or they are just for the product Quora.
For practitioners in Silicon Valley, every product of Newman is worthy of in-depth study, starting with the earliest form of electronic payment. "
After Charlie finished speaking, an animation appeared on the screen behind him. The content of the animation was that after a person ran to the bank to complete a transfer, he received a six-digit verification code on his computer.
"Newman creatively brought verification codes into the world, organically combining computers and mobile phones.
My friends in the financial industry all said that this is an incredible invention. The SMS verification code provides an unprecedented convenient and fast way to confirm the authenticity of the financial business.
In the past, we needed to confirm a transaction by requiring a password and signature, and we needed to go to the site to verify the identity to complete the transaction. Now we only need to pass the mobile phone verification code to complete the transaction clearly and accurately.
More and more banks are considering forcing customers to bind their mobile phone numbers when applying for bank cards.
More and more banks are applying for SMS verification code patents from NewPay. Even now, when we see a string of six-digit numbers and letters anywhere, we will subconsciously think of SMS verification codes.
And this was just Newman's first idea, what an incredible thing.
Newman, how do you feel about this yourself? "
Zhou Xin was very proud of his idea to use SMS verification codes to bypass traditional offline game distribution channels.
This method is equivalent to taking advantage of the gap between traditional payment and electronic payment and finding the backbone of the two.
The verification code was invented by von Lewis, but it is impossible to verify who invented the SMS verification code. Twenty years later, this thing was almost as full of water as water in all applications.
Zhou Xin thought for a while and said: "The SMS verification code was purely because I made "Angry Birds" at the time, and when we were discussing cooperation with the distribution channel, their commission was too high.
In order to avoid taking commission, I came up with an idea.
I just didn’t expect SMS verification codes to be so useful. "
Zhou Xin paused for a moment and said: "This is just like when Babbage invented the earliest computer, he would not have thought that computers could be applied to such a wide range of scenarios in the future.
Most of the inventions in human history came from flashes of inspiration in daily life. I just captured this flash of inspiration. "
Zhou Xin thought to himself, I have captured so many auras that I have intercepted the aura of the next twenty years.
Charlie picked up the information he had prepared and asked: "So far, there are about four hundred Internet companies in the entire American stock market, and about two-thirds of them are in a state of loss.
People think this is normal because Internet companies have not yet found a stable profit model. Some people think that Internet companies that have not found a profit model cannot enjoy such high valuations. What do you think of this? "
Zhou Xin knows that this is a bubble, but with his identity and the fact that Riot Games is still operating and listed, he cannot burst this bubble:
"The Internet is definitely an invention that changed the entire era. The value market of Internet companies will give it a fair valuation. The market is cruel but fair.
People's patience is also limited. The market value of companies that have been unable to find their own profit model will fall, while the valuation of companies that can find their own profit model will naturally rise.
The Internet is a new thing. It was only in recent years that the entire market realized the value of Internet companies. It is still in the initial stage of understanding value.
Over time, Nasdaq, New York, and Amerikan Stock Exchange, these places will naturally form a complete and accurate valuation system for Internet companies.
Now the entire system and even the entire market are in a process of exploration. "
Charlie asked this question to pave the way for the next question: “But the Internet companies you established have found a stable profit model.
According to the New York Times, in the past six months, the Riot Games Store has dominated about 30% of game distribution in the entire electronic game market, participated in more than 50% of game distribution, and about 90% of game development. The publisher expressed that they would consider Riot Games as their distribution channel.
I believe this number will rise as NewPay becomes more popular.
Relying on game releases, Riot Games is expected to achieve a profit of US$50 million in the first half of this year, and the market values it at close to US$10 billion. "
At the close of trading on May 28, 1999, Amazon's share price per share was US$2.97, with a total of approximately 6.88 billion shares and a market value of approximately US$20 billion.
Although Riot Electronics Community has not been listed on the market, it has achieved profitability. Amazon has not yet achieved profitability at this time, and profitability is far away.
The electronic game market is booming, and the Riot Games community and its own game store occupy an absolute leading position in this field.
In the field of online video game distribution channels, Riot Electronics Community had an even more obvious lead than Amazon in the field of online shopping at that time.
Amazon's competitors at the time were Ebay, but Riot had no competitors. There were even voices within Microsoft saying that it would fully acquire Riot Games.
Charlie continued: “NewPay’s profit model is also clear. The money NewPay users deposit in their NewPay virtual accounts can be used for short-term arbitrage.
In fact, the business model is similar to that of a bank. You can not only do short-term arbitrage, but also do asset allocation.
For example, the long-term stable part of the funds can be used to purchase long-term treasury bonds, and then the liquid funds can be allocated into monetary funds. You can even use part of the money to make angel investments.
This configuration takes into account both returns and risks.
Similarly, Quora quickly found a profit model and gained revenue through commissions from paid Q&A.
When other entrepreneurs in Silicon Valley first started their business, they rarely thought about how they were going to be profitable and how they were going to make money.
Most people do it first, and then after receiving angel investment, investors will force them to think about it.
But you don’t need investors to force you, you have already thought about it.
From Silicon Valley to Wall Street, all investors are waving their money to invest in you.
Even if you just write a word on paper and tell them, I want to do this, they will give you money without hesitation.
I'm curious, Newman, do you care about having a stable profit model when starting a business? "
Zhou Xin’s real idea is that I simply want to engage in electronic payment, and all industries revolve around electronic payment.
Since there will be transactions, isn’t it just a commission? This is what the giants of later generations did, from WeChat’s WeChat tax to Apple’s Apple tax.
Another important reason is that he knows that the Internet bubble will burst and he will sell off assets, but he still has to consider his reputation.
After all, we have to set up an investment fund in Amerikan to raise a large amount of US dollars, so reputation is very important.
Therefore, even if the company founded by Zhou Xinxing will be affected when the Internet bubble bursts, its valuation will come back sooner or later with the recovery of the Internet.
The superficial answer is: "Maybe it's because I have been afraid of poverty since I was a child. My parents died when I was very young, so my life has always been very tight.
I have a special acumen about money. When I started my business, I didn't know much about how to go to investors to ask for money. All I thought about at the time was how to make a profit for the business I established.
This is probably where I differ from traditional entrepreneurs in Silicon Valley. "
After Zhou Xin finished speaking, Elmo Wasser's eyes were wet in the audience, "Oh~" She used to be a trainee lawyer in a law firm and was sent to serve Zhou Xin specifically.
Later, after she helped connect people to invest in Google, Zhou Xin invited her to be his secretary.
Firstly, it’s because the other person works really hard, and secondly, it’s also good to find a familiar beauty to be eye-catching with.
This interview program also allowed Ai Mo to know Zhou Xin's life experience for the first time. Compared with her father who is a lawyer, Zhou Xin's growth process is undoubtedly much more difficult.
Charlie also looked shocked: "Sorry, I didn't mean to mention your sadness."
"It's okay. I always believe that what everyone has and what they lose is conserved. Although I unfortunately lost my parents, God has also given me insights beyond ordinary people. Of course, I always think it is because they are blessing me in heaven. the result of."
Zhou Xin was admitted to the junior class of Huaguo University of Science and Technology, and then went abroad to study for a doctorate. His extremely smooth academic career was not only based on hard work, but also on talent.
When you gain a talent, you will inevitably lose something. What he lost in his previous life was the ability to empathize with others. When others felt sad, excited, or happy, Zhou Xin was at a loss, and a question came up in his heart: What about it?
Of course, we still don’t have the ability to empathize. After Quora’s paid Q&A function was launched, when their team opened champagne in the office to celebrate, Zhou Xin sat in the corner and applauded silently.
It is difficult for him to integrate into such an atmosphere.
“I just heard that Riot Games was going to be listed. This is simply the best news. I can’t wait to invest in Riot Games.
I believe that Riot Games will have a very good performance when it goes public. Will NewPay and Quora be listed later? "
Zhou Xin replied: "I don't know, going public is too troublesome. It's already a headache for me to run one company to go public, let alone to run two other companies to go public."
Charlie asked some more questions and ended the interview.
This episode of "Charlie Rose" in which Zhou Xin participated as a guest was greatly welcomed.
At the same time, the content of this program is also filled with major online forums and even traditional media, because a lot of information was disclosed for the first time by Zhou Xin himself.
"Newman is the best representative of the American Dream. He was born in poverty, has excellent academic performance, and achieves success through his own efforts."
"Are you kidding me upstairs? Does Newman rely on hard work? Doesn't he rely entirely on talent?"
I updated 9k today and my diligence scares me.
Secondly, after SMIC is established and built, it will start to engage in semiconductors and promote localization substitution around the upstream and downstream of SMIC's industrial chain.
The protagonist has never engaged in chip foundry in his previous life, does not understand this area, and has no connections, so he will definitely not be able to do it on his own.
Finally, for the sake of Crow’s hard work, please vote for me! Please subscribe!
(End of chapter)
