Venture Godfather Yan Yan Entrepreneurial valuation bubble far more than real estate 工号9527为您服务�����

Venture Godfather Yan Yan: Entrepreneurial valuation bubble is far more than real estate September 21~22 days, two days of entrepreneurship in the country’s top 2016 innovation and autumn summit held in Hangzhou. Yan Yan, founder and managing partner of the Asia Pacific Fund, delivered a speech entitled "a lost opportunity" at the opening ceremony. Sharp views are as follows: now, China’s venture capital appreciation far exceeds the appreciation of real estate! What is the root cause of this phenomenon?" Three key words: money, people stupid, policy bias." "In ten years, the amount of money has increased by a factor of 10, which is not true in human history." "The world belongs to you, and it belongs to us, but in the final analysis it belongs to the grandchildren." The following is the full text of the speech, finishing by Entrepreneur: economic malaise, difficult, many people feel puzzled and confused. So in such a big environment, our investment opportunities in the end where? More and more money, but also more and more difficult to make this era full of confusion, we may feel the most obvious is that more and more money around, but less and less opportunities to make money. Almost everyone will say it’s hard to make money now. Traditional economy, in the past, the gross profit margin is likely to reach more than 15%, net profit of about 10% of the business is still quite a lot of. But now net profit can be 5%, is already very very rare. More and more entrepreneurs, people really make money less and less. More people are selling out, telling stories, very few real cash flow business, including the Internet now we are keen on the lips, said to be the capital of winter, but the valuation of startups is high. Now what is expensive in China, what is the most expensive? Everybody thinks it’s a house. After G20, the price of Hangzhou overnight price increase of 25%, people are queuing to buy a house. One day I saw a picture in Ji’nan is not a set of houses to buy now, but one to buy a house. Is the house expensive? China’s most expensive is the valuation of start-up companies. Yesterday, the team recommended to me a company, the company’s annual income of about 4 million yuan, its valuation is $100 million. This reminds me of the 1958, the so-called "great leap forward" how bold, how much production per mu, hundreds of thousands of pounds of rice, people can sleep in it. Now, China’s venture capital appreciation is far more than the appreciation of real estate! What is the root cause of this phenomenon? The three key words: money, people stupid, policy bias. Ten times the amount of money in circulation increased by more than 10 times the first money. A long time ago, we would never have thought that the Chinese would one day become the richest man in the world. Have a fun data. In 2001, China’s broad money (M2) circulation is 15 trillion and 800 billion yuan. By 2015, the broad money (M2) was about 150 trillion. In other words, in ten years, the circulation has increased by a factor of 10, which is not in human history. Therefore, the root cause of many phenomena is that the amount of money increased. Of course, there are some special situations in china. Because the yuan is not convertible, so a dollar in, you need more than 6 yuan to get it back.相关的主题文章:

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