My Age of Investment

The students in the audience exclaimed, and unknowingly, Facebook has been online for six and a half months, and has 500,000 users!

Many of them have also engaged in entrepreneurial projects, but the best ones are only 10,000 or 20,000 users.

Then the number of users will not increase, there is no opportunity to expand, and no financing can be obtained, and the project will be yellow.

They were very curious about how Facebook managed to jump from 10,000 to 100,000 to 500,000.

The hostess obviously did her homework and asked everyone what they wanted to say.

"Daren, can you tell us how Facebook got out of Stanford and into other colleges?"

Xia Jingxing nodded, picked up the microphone, and began to answer questions.

"it's actually really easy!"

"Any website, or project, if you want to become bigger and stronger, must have a certain quality."

"Replicability!"

The students in the audience pricked up their ears and listened carefully to the class, not letting go of the slightest detail.

The old man John looked at Xia Jingxing with a smile, more and more like a successful entrepreneur!

Xia Jingxing started the personal pretense session.

"Replicability, do you understand the word?"

The students in the audience showed a thoughtful expression, and they roughly understood the literal meaning, but they did not know the specific explanation.

The hostess also asked very cooperatively, "Can you talk about it in detail?"

"Okay, let's take Facebook."

"On Stanford's campus, people can search for an alumnus through Facebook and connect with each other."

"Everyone likes a football player and can join the group to discuss him."

...

"These features are also very needed for other university students, and can impress and attract them."

"That's the equivalent of copying what we did at Stanford to other universities, and there's no acclimatization."

"I call this reproducibility, and it's also the basis for a website, a business project to grow bigger and stronger."

"Many people have started their own businesses. You can think about it. Those projects they did before did not have this characteristic."

Many people in the audience thought about it.

It seems to be the truth. The projects they have done before are so little interesting, no wonder the number of users is not enough.

The hostess asked again: "What skills or characteristics do you think a good entrepreneur should have?"

The students in the audience were all looking forward to it, hoping to hear a certain trait in themselves from Darren's mouth.

"Dongchengli, entrepreneurs with this ability can see the gaps in the market and the needs of users."

"Execution, which is an essential ability to beat the competition in the competition."

"Perseverance, entrepreneurship is an endless marathon, which is a test for both body and spirit."

...

Xia Jingxing poured a large pot of chicken soup directly on the stage, and the students present couldn't stop nodding, but it was himself!

The hostess did not neglect the principal, and soon began to question old John again.

"Mr. Hennessy, what advice do you have for entrepreneurship students?"

Old John smiled softly, "I have only one suggestion, keep trying and making mistakes."

The hostess emphasized: "Trial and error?"

Old John nodded and smiled, "Yes, it's just trial and error."

He pointed to Xia Jingxing and said, "For a lucky person like him, there are always a few who have made great achievements in their first business."

"In fact, including Daeron, it can't be said that it will be successful in the future."

Xia Jingxing nodded slightly and cooperated with the old man's performance.

In fact, he was already drawing circles for the old man, how could he curse students like this?

I want to write down this sentence, when the business is successful,

Take it out and slap in the face.

Old John looked at the young faces in the audience. Everyone's face was full of desire and longing for success, much like him when he was young.

I always thought that I was born extraordinary and destined to achieve a great career, but when I left the school gate, I found out that you are just one of the many living beings.

"Success in starting a business is always a small probability event, and most people are doomed to fail."

Although Stanford encourages entrepreneurship, Old John feels that he still needs to remind the children.

As expected, the students under the stage felt as though they had been splashed with a basin of cold water.

"But you can never be sure of success or failure until you do it."

"Each failure can increase the success rate of the next round of startups by one point."

...

The old man John spoke very sincerely, and every sentence was from the bottom of his heart.

But how much can the students in the audience listen to? Only they themselves know.

People love to hear success stories so much that they have an illusion: I can do it too!

After the old man John finished speaking, when it was time for the questioning session, the students who had been listless were refreshed again.

Most of the people asked Xia Jingxing questions because they were both students because they were close in age and wanted to learn something useful from him.

"Daren, I would like to ask about the number of founding teams. How many founders are suitable for startups?"

A white boy stood up and asked a question with a microphone.

Xia Jingxing had more say in this matter, looking for a partner was like looking for a wife.

When you meet the right person, it is to do addition and even multiplication;

If you encounter the wrong person, that is to do subtraction.

Xia Jingxing replied: "I think three to five people are better, but the specific number of people still needs to be analyzed for different industries.

Like those technology-intensive industries, the founding team may be larger.

However, as far as the general industry is concerned, the number of core members should not be too large, otherwise, after the dilution of the equity, it will lead to the lack of the right to speak, and it will be difficult to implement a plan.

When there are more people, the voice is more messy, and a lot of precious time may be spent on communication instead of developing products and promoting the market.

When choosing a founder, it is best to choose someone who complements you, with complementary resources or complementary personalities.

Take Facebook as an example, I have three founders, Doggy and Kristina.

Kristina is outgoing and is in charge of operations;

Puppies are introverted and obsessed with technology, and are responsible for technical work such as product development.

I know a little bit of technology and a little bit of operations. I'm mainly responsible for the company's long-term planning, project financing, and seeking partners.

The three people are each responsible for one piece, there is no internal friction, and all energy is used to promote the development of the company. "

After Xia Jingxing answered, there was thunderous applause from the audience.

At this point, it was the turn of the second audience member, a black boy.

He asked, "Daren, I just listened to you, looking at user needs.

I found that many students like listening to music, so I want to make a music dating site, do you have any good suggestions for me? "

Xia Jingxing thought for a while and replied, "Copyright is a big issue, and it takes a lot of money to get the authorization from the record company.

Before you, there was a music sharing site called Napster.

At its peak, the company had 80 million registered users.

But its existence has eroded the interests of the five major record companies.

After two rounds of lawsuits, the company lost the case and officially declared bankruptcy two years ago.

If you're confident in getting users to pay for online music, I think you can try it.

But the premise is that the benefits you share with the record company can satisfy those people. "

The black boy was poured a basin of cold water, and he hung his head and said nothing.

This kind of person Xia Jingxing has seen many times, he did not conduct sufficient research on the market, and started his own business for the sake of starting a business. He was a typical speculator.

The black boy handed the microphone to a white girl who raised her hand not far away.

The girl was blond and blue-eyed, a little baby fat, and looked very innocent and lovely.

She stood up and asked with a smile, "Daren, I want to know what you expect from Facebook, or what valuation or market value do you think Facebook can reach in the future?"

Xia Jingxing recognized who this blond girl was, another of the thirty famous alumni in Stanford's century-old history.

Their level 02 is really a hidden dragon and a crouching tiger. In addition to Kevin Strom, this one is also famous!

Jack Ma spoke with her;

Zippedton was full of praise for her;

Kissinger wishes her a happy birthday;

The President of the United States invited her to a state dinner;

Media tycoon Murdoch rushed to give her money;

Known by the media as the next Steve Jobs and Bill Gates;

...

PS: Thanks to book friend cj Lang for rewarding in name only!

Thank you all for your votes, I will try my best to collect them!