After this period of learning, I've realized I'm not Hermione; I'm just a Muggle with no real talent who accidentally wandered into the magical world.
Zheng Li explained: "Every individual has their own talents."
Not everyone is suited to be a mage.
Zheng Li recalled that in the Mage Alliance, only a very small minority could become mages.
Most people, after receiving basic education, are merely magic apprentices.
Because of the well-established welfare system, many people become addicted to the virtual world after leaving school and entering society, and they can only use life-related magic.
During the centuries-long war between the Mage Alliance and the Empire, the Empire also gained some understanding of the social structure of the Mage Alliance.
The Empire believed that the Alliance was wasting resources and failing to make good use of the power of each individual.
However, in Zheng Li's view, based on the established mechanism, the virtual world can provide each individual with sufficient choice while respecting individual choices.
This is the source of the Mage Alliance's enduring success.
Having visited so many countries on Earth, he believes that no country on Earth currently has a similar mechanism.
Because cultivating each individual in this way is simply impossible given the current level of productivity on Earth.
Li Miaomiao nodded and said, "That's right, everyone has their own talents."
However, for the vast majority of people, they don't have the opportunity to try different directions and realize their talents.
Trying things out comes at a cost, also known as the cost of trial and error.
A small number of families can afford to give their children the opportunity to try and fail, but at most they can only afford the cost of one or two attempts. However, with only one or two attempts, it is difficult to find out what they really want to do.
The reason I was able to start a business with you back then was largely due to the fact that my parents were willing to provide me with the resources to make mistakes.
Many people don't have that opportunity.
Zheng Li added, "Virtual reality can reduce the cost of trial and error and provide a richer education."
Li Miaomiao nodded and said, "In three months, our picofuture global shipments have exceeded 50 million units."
Yesterday, global shipments of brain-computer interface VR devices officially surpassed 100 million units.
The online education sector has once again become a hot sector after the "double reduction" policy.
Countless companies are flocking in.
Currently, the companies that are doing relatively well include major internet companies such as Tencent, ByteDance, and NetEase.
Traditional online education companies such as New Oriental and TAL Education Group are also making a strong statement.
Ali recently acquired a partial stake in TAL Education Group.
JD.com also wants to enter the online education industry.
TAL Education Group was formerly known as Xueersi, and it has a good relationship with Ali (a popular Chinese internet celebrity).
Many years ago, Ali acquired a subsidiary of TAL Education Group called First Voice AI Education.
When Babytree went public in Hong Kong, its shareholders, besides the founder's family, included Ali Group, Fosun Group, and TAL Education Group.
Fosun is best known in China for Fosun Pharma, which has been involved in mergers and acquisitions for many years, and its capital operation strength far exceeds its R&D strength.
Of course, Fosun Pharma is still much better than Zhifei Biological Products. Fosun Pharma has an annual revenue of 30 billion yuan and invests 3 billion yuan in research and development.
Zhifei Biological Products Co., Ltd. generated 15 billion yuan in revenue from selling vaccines and invested 300 million yuan in research and development in 2020. In 2021, it generated 30 billion yuan in revenue from purchasing vaccines and invested 500 million yuan in research and development.
In this era of competing to be the worst, Fosun Pharma is considered a relatively good company.
However, when compared internationally, the top ten global biopharmaceutical giants have a revenue-to-R&D investment ratio that fluctuates around 5:1, with the lowest not exceeding 15% of revenue allocated to R&D.
Returning to the online education industry, due to their cooperation in capital operations over the past few years, Ali and TAL Education Group have a very close relationship.
It involves not only official capital operations, but also private relationships.
The founder and chairman of TAL Education Group is Zhang Bangxin, a student of the second cohort of Hupan University, which was founded by Ma Yun but has been shut down in recent years.
Zhang Bangxin was the only representative from the education industry in that year's Lakeside University cohort.
The overt capital operations and private interactions between TAL Education Group and the Ali Group have made the relationship between them beyond what outsiders imagined.
After the emergence of brain-computer interface VR, Tencent increased its investment in online education, and Alibaba also spared no effort.
First, it made a large investment in TAL Education Group, and at the same time, it fully supported TAL Education Group's online education in the VR industry.
"Currently, the top five companies in the market are mainly Tencent, ByteDance, New Oriental, TAL Education Group, and hog farms."
"However, miHoYo and Bilibili have risen rapidly in this field. Using anime-style costumed characters as teachers in VR online education makes it easier to gain the favor of parents and adults."
By 2026, children born in the 1990s and even the mid-1990s will become the main customer group for online education.
Therefore, their acceptance of anime and manga is not so much a degree as a preference.
"In addition, there are some startups that have received investment from angel investment firms such as IDG, Sequoia Capital, and Hillhouse Capital.
Previously, Cheng Gang had also acted as a go-better friend for one of the online education companies, Tianpu Education.
That company claims it aims to bridge the gap between geniuses and ordinary people through their collective efforts, hence the name Temple Education.
Cheng Gang probably also owns shares in it. He hopes we can invest in Tianpu Education and is willing to transfer his shares to us at a very low price.
I reckon if I loosen my stance and negotiate further, Tianpu Education could operate without any upfront investment. All they need to do is add "Kechuang Bio" to their shareholder name, and attracting venture capital afterwards will be incredibly easy.
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