Wu Xiaobo: Development and Research of China's Internet Audiovisual Industry

Wu Xiaobo

In the network audio-visual industry, there is a channel of its own, which is Wu Xiaobo Channel. Today, we must listen to what kind of sharing Miss Wu brings. I believe Wu Xiaobo’s “Agitating for 30 Years” and “Understanding 100 Years” are familiar to everyone. Beginning in 2014, Teacher Wu Xiaobo had a “Wu Xiaobo Channel” in iQiyi, a financial talk show. I saw a very high score of 9.1 points. Wu Xiaobo shared a unique observation on the development of the network audiovisual industry. The following is the full text of the speech:

Wu Xiaobo: I would like to thank the host. Actually, I have no idea about the development of the network audiovisual industry because I am the only “outsider”. The only relationship I have with this industry is to open a “Wu Xiaobo Channel” on this year’s love bizarre. They gave me a data. Among the people who watched each issue, more than 70% were 80 and 90 were 1/3. This is a data that I am particularly surprised by. My long-term writing in finance is a particularly boring industry. For many years my readers are probably 50s, 60s, and 70s. This time, I opened a channel for love and I also opened a public number in Tencent’s WeChat. The background data of the public number is also similar. After 80, it accounts for more than 60%. I am grateful for the Internet. I am grateful to these platforms for my readership. I was 10 years old. This is a great benefit to me from the internet.

In our generation, the biggest change in ours is indeed the Internet. Two days ago I was chatting with an old friend of the Internet industry in Beijing. We recalled a question. Who invented the word Internet? When the first translation came in, it was called the information highway. Afterwards, how did we count and how could we not remember who it was? We knew that the term appeared in the official media. It should be around the end of 1994 and around the second quarter of 1995. Everyone thinks that this term is actually a very “genius” and sums up almost all the characteristics of this technology. The first is “mutual interaction”, which has changed the mode of one-way transmission in this country and society. In addition, in a variety of ways, the familiar and unfamiliar people are linked in a virtual world. The third is the formation of a virtual network. The first is the information network, which later turns into a network of product information. The future may become entertainment. The network that pays credit, so the word “internet” is indeed very genius. The Internet in China has been moving in the early stages and developed under the shadow of the Internet in the United States. Today, the development of the Internet in many areas in China, especially in commercial applications, has caused a total overtake of the United States. Our Internet population surpassed that of the United States last year. Today, the number of smart phone shipments per month is U.S. Times, the profitability of e-commerce, Alibaba's net profit rate was 38% last year, Amazon they looked to be crazy. The huge profits of online games such as Tencent in China are also unimaginable by the United States. The development of China’s Internet is indeed very rapid now.

How can we examine the rise of China's Internet in a global context? Now it has become a problem. I recently wrote about Tencent and spent a lot of energy on Internet companies and industries. I talked about my superficial views.

First of all, we have seen in the Internet field that there are two Internets in the world, one is American-style and the other is Chinese-style, which may also be the basic pattern of the world. However, it is completely different in many modes and values. The birth of the American Internet in Silicon Valley continued spiritually with the results of the 1968 North American student rebel movement. This group of people maintained the spirit of subversion of the existing order in the western United States. In the mid-1990s, when Yahoo went public, Business Week published a photo of Yang Zhiyuan. I remember it was a scene 20 years ago, but I still remember it clearly. Yang Zhiyuan sits in a boss' chair, wearing jeans and barefoot. This is the first barefoot entrepreneur on "Business Week" and represents the spirit of extremes and geeks. Second, the development of the Internet in the United States is time and space, and it is in a state of sharing and loss of control. Third, it is exogenous. The United States hopes to export its values ​​to the world through the Internet. Fourth, he believes that it is "not evil," and the bottom of values ​​is very clear.

In China, we see that the development of the Internet is very different from that of the United States. The birth of the Internet in China was a "think money" from the very first day, and the relationship with the spirit level was not great. The first batch of Chinese Internet, to Zhang Chaoyang, etc., they described the first batch of business class, that is, want to make money, was informed by a group of very pragmatic people. The second is the state of being controlled from the beginning, and the oligarchy features are obvious. Now we have moved from the PC side to the mobile side. This year I looked at iResearch's data. We now use a maximum of 20 apps per day and 3 companies that belong to BAT. For example, we only have one social network and there will be many social networks in the United States. Third, we are entirely endogeneous in the face of China’s demographic dividend and business model innovation. The fourth evaluation of all Internet companies is basically no value only, we use the price-earnings ratio to evaluate.

In the past 20 years of the Internet in China, we have achieved great commercial success. Since 1994 and 1995, Beijing has had its first local area network. By 2004 or so, it took us about 10 years for China’s Internet to plagiarise the US Internet. At the time, all people were saying that imitation was the biggest innovation. This also makes sense in the business school and it is also a classic theory of business school. So, no matter what you do as a portal or search, including QQ, it is also a comprehensive imitation. Sohu's earliest name, SOHOO, was an imitation of Yahoo. Now it is SOHU. After the Internet bubble, China’s Internet began to find its own way. In 2001, NetEase made profits via SMS. After Baidu found a bid ranking, Tencent found a virtual item model. After 2004 and 2005, there was a full rebound. The self-confidence in China's Internet industry is growing. I was deeply impressed. In 2001 and 2002, we opened an Internet conference. Basically, two of the four speeches were Americans, and Americans talked about trends and technology. In 2004 and 2005, Chinese people increasingly ruled such forums. Basically, Chinese people tell their own stories, and Americans do not quite understand them. I wrote "Tencent Biography." They told me that Americans did not realize that in 2009, when a company in Shenzhen called Tencent, it was very powerful. In 2008, they didn't know Tencent, and they looked at the Internet in Shanghai and Beijing. From 2004 to 2014, Chinese Internet companies formed a brand new business model. We call BAT. We are not the same as the United States, and not the same as the Asian region. Our online video and online games are very early in China and imitate the Korean and Japanese models. However, today, Gong Yu and Liu Dele, they will lead Youku and love strangeness in the future. Their future model must be the "China model." The imagination of China’s per capita demographic dividend is beyond the imagination of other countries. Mr. Liu said that in the 500 million users of Youku, the average person only contributed 8 yuan. Mr. Liu is a financial background. If he turns 10 dollars quickly, he will make a profit in 16 blocks, and he will make more money than Alibaba in 24 dollars. The innovation of this business model is completely different.

If China and the United States do another research, the Internet has transformed and influenced Chinese society in the past 20 years far more than the transformation and influence of American society. I went to Boston in 2005 to do a four-month visiting scholar. In 2005, the Americans told me that now we rarely talk about the Internet. We mainly talk about how to overcome cancer. How can we turn seawater into fresh water and have entered a new era? The revolutionary wave that focuses on biological sciences, materials, and energy revolutions. In the past 10 years or so, China’s biggest change has come from the Internet. We have used information-based revolutionary methods to recreate very old social systems and very old industrial and traditional industries. China is now in a “result of the third wave and the re-building of the second wave”. This is a very typical Chinese-style road.

For example, in terms of communication, from portals to blogs, to microblogs, and to WeChat, the public opinion environment has changed. Everyone can now express your thoughts on the Internet, even though the boundaries are very clear. The way we obtain information is not from the perspective of the top-down pipeline. It has become more and more "flat."

In the process of the country from traditional farming country to modern country, China has kicked the Internet in our ass.

Social network, QQ was born in March of 1999. For the first time in China, there was a virtual person, that is, QQ. The biggest difference between QQ and traditional people is that we originally lived in the streets and units. QQ created a virtual person so that we could find another person in the virtual space. Today, China’s major Internet consumer population starts with QQ people, from QQ people to QQ space to WeChat circle of friends to unfamiliar streets, which makes Chinese people, although each of us has an account, but in the virtual world we get rid of the account and become self Liberated people.

The third is e-commerce, Ali, Jingdong, has caused a great impact on the real economy. In China's real economy, the original marketing model of China was first hit by the northern Guangzhou Guangshen, and then by the city, county, and town. With the Internet, all were squeezed. Yesterday I saw a news that China's largest down jacket company closed more than 6,000 chain stores in the first half of this year. This shows that the world has been completely flattened. The service industry has also undergone great changes. E-commerce, the impact on the real economy, on the one hand is destroyed, on the one hand is regenerative.

In terms of credit, it is internet finance. On the one hand, it has caused a huge impact on traditional banks. If the Bank of China’s China Banking Regulatory Commission stopped the virtual credit cards and virtual payments in March, it may not be possible to see the credit cards in your pockets today. Another great contribution, finally on a big data platform, finally built everyone's credit and corporate credit. Every time we spend, every trip, every video and audio is recorded, we finally become a true “transparent person”. Because of this transparency and big data, everyone in the future, the Internet helps us establish our credit system and help companies establish their credit information. Alibaba launched a foreign trade loan this year. No mortgage is required. The maximum limit is 10 million. Ali can do it because these companies, all foreign trade data can be run out on Ali's big data platform.

In terms of communication, socialization, e-commerce, and credit, in fact, the transformation of American society in these areas, such as the American credit system, was established many years ago. The part of e-commerce is not as big as China's. The Amazon of Americans, the real economy of the United States and the impact of the chain service industry are far from China’s size. The Americans’ preference for socialism and madness are also not as large as Asians. When I was texting that year, I studied that Americans used text messages for one year, equivalent to our one-year New Year's greetings, and thought about our social madness.

In the future, no one can see clearly. We all live in another very uncertain world. But I think that the concept of being very strange to us will change us. China’s quarterly shipments are around 90 million. Almost all business relationships, social relationships, credit systems, and learning models, as well as the need for entertainment, have shifted to mobile phones on a large scale and have become our bodies. Part. Chinese people spend 3 hours a day on their mobile phones. They spend more time talking to my daughter and my wife. These 3 hours are cut, and they are cut and combined in 5 minutes, 15 minutes, 20 minutes, and 30 minutes. The mobile phone broke the time into pieces. Then there was the Internet of Things. In 1998, there was a book. When we saw it, it was hard to imagine. At the time, it was predicted that all future products would have a chip, any piece of clothing, glasses, tables, or even a brick in a building. There will be chips, and the world will consist of chips. We heard the news 16 years ago was very shocked, because the chip is very expensive, but we now feel that it will become a reality. This is now being overcome in technology. Big data makes everyone very transparent. Everyone's consumer behavior becomes very transparent and ultimately makes the world very transparent. In the future, profits will not be generated in the information asymmetry, but in the technology itself, the creativity itself. Why are we now very optimistic about the cultural industry, optimistic about software development? A big factor comes from this place. In the future, there will be circles, and everyone will live in their own circle. After 60 and 70, the consumption habits of 90 will be very strange. The future will become circled, which should be very obvious in the entertainment industry.

I asked my daughter a few days ago. Who is your favorite singer? She said that it is Luyi, I do not know who is Luyi. I only know Yao Chen. Yao Chen had a problem this year. Her ex-boyfriend said that she was derailed. There are 400,000 posts on Weibo. I think it is very powerful. Luhan said "Hello everyone" on the Seventh Day of this year, and followed up with 17.32 million tracks, which exceeded the records of the world's Guinness. It is very hard to imagine. In the post-90s circle society, the favorite entertainment star and the commercial behavior enjoyed by him are completely incomprehensible to his father. In the future, if you ask a college graduate, what he knows about sports shoes brands and billionaires like to run Beijing Marathon like sports shoes brand is completely different, in the future society will become circled.

In the financial revolution, very significant changes will occur in the financial industry in the future. I think China will become a financial capitalist country in the next economic cycle.

In the video, I transferred the PPT that I had previously obtained from Airui. This was a "who ruled our cell phone" on Wu Xiaobo's channel. I was shocked to see this figure. Of the APPs used by the Chinese, seven of the 20 most commonly used are video websites. Three worlds are ruled by video. This industry is indeed at the forefront of a blowout.

In the future, these things will happen one by one. The real economy will be increasingly discussed with the Internet. I went to Quanzhou two days ago. Quanzhou has the most sportswear and sports brands in China. There are 11 listed companies from this industry. I watched three companies, and I couldn't stop shopping all the time. Consumers were losing and each CEO was talking about us and the Internet. One CEO and I said that after I saw “Dear,” I wondered if I could add a chip to my sneakers and sell them to Chinese children so that the children could be found after they were lost. They found Baidu cooperation and really developed such shoes. They talked to China's top three operators about the flow-year-old agreement. With such chips, children lost more easily found, and the children walked in a small way every day. Whether it is stable or not, these big data can be transmitted to the backstage to analyze your child. Some of these things are happening in the traditional manufacturing industry.

The community, in all industries this year, especially in the cultural industry, is the newspaper industry. The newspaper industry this year should be said to be a steep decline. We have a blue lion publishing company. We had a situation in 2010 when paper books fell by 20% to 25% every year. At the same time, the sales section of the online store has grown by 50% every year. In 2010, this has happened in the traditional publishing industry. Afterwards, it was the transformation and reshuffling of the publishing industry. This industry has also taken place in the newspaper industry. It is likely to happen in the video industry in the future. This is an irreversible event. When all information is disseminated by the one-way elite creative communication, each person becomes non-linear reading in the social information flow. From the government to every enterprise and every individual is thinking about a problem, how do we produce one? News, as well as allowing the people to see this news, is a very big problem. Including my personal consumer experience, I almost no longer look at any news client, not only do not read newspapers, do not watch TV, and do not read the news client. For a person who makes a living from financial observation, my 100% information comes from a circle of friends. Social networking controls almost all of my information. The knowledge supply, after my 60s, the reason why I have to engage in the "Wu Xiaobo Channel" is, I must first thank Love Odd for opening this unplayable program for me. I have found that my column writing and book writing has long caused my audience to age. I have to integrate my ideas into younger people and embrace the Internet. What I think will happen in the future is the turn of generations. I have done an interesting survey. What age is the “ruler” of the current Internet in China? When did you start a business? I later discovered that Sina, Sohu, NetEase, Baidu, 360, Jingdong, and others had entered the Internet business from the fourth quarter of 1998 to the fourth quarter of 1998. The seeds of 16 years ago were sprouted by this wave and they informed China's Internet. The annual entrepreneurship population in China is about 2.4 million, and 100% is 80 years old. The use of the Internet by the population is also mainly post-80s and post-90s. This is the fact for the next 10 years. After 80, 90, and 00 friends, how to "kill" friends after 1964 and 1974, or friends from 1964 to 1974 used capital to "control" them.

Such changes will occur in different industries. The final problem is that our country, which is able to use the Internet, is a demon that ran out of Silicon Valley in 1990. This devil can make our country truly open. The essence of the Internet is freedom, openness, and loss of control. The last sentence is Tommy. Ratio: The rise and loss of self-consciousness is the ultimate criterion for judging the prosperity and decline of civilization. This situation still occurs in our Internet industry.

My speech is over. Thank you!