My Age of Investment

Chapter 762

"At present, we and Northern Light Venture Capital have jointly invested in two companies, both of which are companies in the semiconductor field. They are GigaDevice, which develops memory chips, and Spreadtrum Communications, which develops mobile phone chips."

Looking at Xia Jingxing, Fu Jixun reported: "The founders of these two companies and Deng Feng have one thing in common: they were born in Tsinghua University, studied in the United States, worked in Silicon Valley, and returned to China to enter the semiconductor field.

At first I thought it was an accidental phenomenon, but after serious research, I found that it was inevitable.

Why do you say that?

In 1956, China proposed to "March into Science" and listed semiconductor technology as the focus of development.

The following year, the Department of Radio Electronics of Tsinghua University established the Semiconductor Teaching and Research Group.

In 1980, Tsinghua University established the Institute of Microelectronics on this basis, and in 2004 established the Department of Microelectronics and Nanoelectronics.

In China, no university has a history and background in semiconductor research comparable to Tsinghua University.

The founders of Spreadtrum, Chen Datong and Wu Ping, are the first batch of Ph.D. graduates from Tsinghua Electronics Department. They are 77 and 79 respectively.

However, when they graduated with a Ph.D., China's industrial technology was still very backward. Without funds and equipment, there was almost no way to focus on the microelectronics major.

In the daze of "learning something but not using it", they all went abroad with the crowd.

Chen Datong, a postdoctoral fellow at Stanford, joined OmniVision in 1995 and became the founder.

Chen Datong described the team at that time, "80% are Chinese, 80% of the Chinese are foreign students, and 80% of the foreign students are Tsinghua graduates."

In the entrepreneurial soil of the United States, Howe, a member of the Tsinghua University team, became the first company to turn CMOS image sensors into products, and landed on NASDAQ in December 2000.

In 1999, the state issued "Several Policies for Encouraging the Development of the Software Industry and the Integrated Circuit Industry", known in the industry as "Document No. 18", which strongly encouraged overseas high-tech talents to return to China to start businesses.

We all know what happened next. Wu Ping, Chen Datong, and Zhu Yiming all came back to start their own businesses.

They studied this major in university, and they also worked in semiconductor companies in Silicon Valley. When they returned to China, they were supported by Tsinghua's alumni circle.

Therefore, it is not wrong to say that Tsinghua students support half of China's semiconductor sky, because this is the fact. "

Xia Jingxing smiled and nodded, "You're right. Not only semiconductors, but also the Internet in Silicon Valley. Many employees are also from Tsinghua University."

In a previous life, some scholars said that there are more than 20,000 Tsinghua students in Silicon Valley. The data is not false, because there are so many.

"Yes,

If we want to invest heavily in the semiconductor field, we must first seize talents, second, improve the employment environment, and third, capital.

Talent, first of all, we must retain, and secondly, we must strive for return, and even recruit some non-Chinese engineers.

The employment environment must be improved to make them feel that they have a place to play, and to provide a salary that is not much worse than that of foreign countries, including housing, transfer of ownership, children's education, and a bunch of other issues.

And the sum of all these problems is a problem of funds. "

Fu Jixun stared straight at Xia Jingxing, and said in a cautious tone: "The threshold for this industry is very high, it is a technology-intensive industry, and the technology gap with foreign countries for decades is as difficult to bridge as a gap;

Various semiconductor companies in Europe, America, Japan and South Korea are also forming alliances with each other, and their relationship with each other is deeply rooted;

In addition, state forces are intervening, and leading technologies and companies cannot be bought with money. "

Xia Jingxing knew that Fu Jixun was reminding him to think twice. Once he entered semiconductors, his profits would be passers-by, and he might drag the company down.

Ordinary entrepreneurs enter this field with trepidation and fear at every step.

But he is different. He has invested in so many potential companies, backed by strong assets in the future, and is not afraid of these risks of failure. At worst, all losses should be accrued.

"Semiconductors must be developed, and they must be developed in a big way. This is the basic line of Envision Capital that has not wavered for 40 years!"

Looking at the boss with a solemn face, Fu Jixun was stunned for a while, but after realizing it, he said that he was really frightened.

"Is the layout to forty years later?"

Li Ying had an unbelievable look on her face, she really didn't know what Xia Jingxing was thinking.

"right!"

Xia Jingxing nodded. Without a golden finger, he predicted that around 2020, the layout of the semiconductor industry would achieve some achievements and gain some benefits.

But at that time, it was not up to the international leading level, and we had to continue to spend money to catch up. Before 2050, we should be able to fully see the effect, and draw a successful conclusion to this huge investment.

This is still a relatively ideal result. If there is an accident in the middle, it may fall short.

"Why are we investing in semiconductors, shouldn't the country be the leading force?"

Liu Xiaoduo frowned and said, "I think South Korea used the low-price strategy to drag down Japan and take away part of the semiconductor market share. And because of the support of the Americans behind it, it helped South Korea to check and balance Japan."

Xia Jingxing didn't expect the little secretary to understand this grievance, so he gave her a thumbs up, "That's right! Semiconductors account for a quarter of South Korea's exports. If you want to steal this market, will all countries come here?" Fuck us?"

"That's for sure, and there may be technology blockades, raw material blockades, and equipment blockades."

Fu Jixun sighed, "If it's just a low-end market, it's the same whether we have us or not, but if it's a high-end market and grabs a large part of the market share, all countries with relevant interests will not sit idly by.

We are just a company, or an investment company. If we start a business with the idea of ​​confronting one or even several countries, is it too beyond our own capabilities? "

"You are right, if we are just an investment company, we may not need to go to semiconductors."

Xia Jingxing explained: "But my industry is not just an investment company, but also automobiles, home appliances, mobile phones, Internet of Things and smart wearable devices, etc. These end products all need consumer semiconductors, and the number may reach hundreds of billions in the future.

If we can’t complete the commercial closed loop, it’s not a crime to be slaughtered. What if the confession is cut off? "

Xia Jingxing still hasn't finished his sentence. The total assets of automobiles, home appliances, mobile phones and so on may be as high as several trillion yuan. But if controlled by others, it is easy to be destroyed like a rootless duckweed.

Gree has an advertisement that says it is good to master the core technology.

Considering the future dispute between China and the United States, he is afraid that he can enjoy a more luxurious package than Huawei.

"No way? Such a thing as cutting off the supply will have a great impact on the reputation of the company."

Fu Jixun thinks that the boss has persecution paranoia? Now is the era of global industrial division of labor. If a company includes all businesses, doesn't it become a trust?

"Think about how the United States dealt with Japan. In the 1980s, Japanese semiconductors drove a large number of Silicon Valley companies to bankruptcy, and Intel was almost driven to death.

Japan is still an ally of the United States. You said that China wants to develop the entire semiconductor industry chain and change from a semiconductor importer to an exporter. How will they deal with us? "

Fu Jixun stopped talking. If the situation mentioned by the boss occurs, it is not impossible to do it according to the urine of Americans.

This has nothing to do with morality, what is being fought for is real interests.