Previously, there was only one player in the entire brain-computer interface VR field: Kechuang Future.
This is similar to the early days of smartphones, when only a handful of manufacturers, such as Apple and Microsoft, were making smartphones.
The mobile internet truly took off only after domestic brands like Xiaomi, Huawei, and OPPO/Vivo entered the market, giving rise to a vast market.
Now, the decision by Kechuang Future to license its technology to external parties signifies the first clarion call of a new internet era.
Zhang Lei usually speaks with a touch of literary flair.
For example, at the ESG Global Leaders Summit hosted by Sina Finance, Zhang Lei said: Pessimists are often right, but optimists win the future.
Compared to other investors, Zhang Lei, who was the top liberal arts student in Henan Province's college entrance examination, often presents a scholarly side in his speech and communication.
Young, on the other hand, is a pure STEM guy with a PhD in chemistry, and he also has his own views on tech stocks:
"It's just the two of us today, so I'll be blunt."
Smartphones and 4G networks have bridged the potential demand of the vast lower classes and the supply capacity of the elite class.
For example, before Pinduoduo emerged, no one realized that there was such a huge demand for online shopping in county towns.
The same applies to Douyin and Kuaishou. Previously, the only form of entertainment for the lower classes was television, and movies were only affordable for customers with a certain level of spending power.
Short, fast-paced videos can provide users with feedback much faster than television.
In the first half of the brain-computer interface VR era, we need to invest in target customers who have a certain level of spending power.
Because even existing players in the smartphone field, as well as foreign consumer electronics companies, have entered the fray.
However, due to cost constraints, the price of brain-computer interface VR can only reach a maximum of three thousand yuan.
This price is unaffordable for China's vast number of low-income users.
Regardless of how well-developed the technology and other companies Kechuang Future may be in collaboration to build the capabilities for brain-computer interface VR,
In the short term, VR will remain an entertainment tool, not a productivity tool.
Therefore, in this context, the value of 'Douyin' is far greater than that of 'Kuaishou'.
The value of 'Tmall' is greater than that of 'Taobao'.
Young shared his insightful views on investing at different stages.
His point is simple: the overlap between users who can afford brain-computer interface VR and Douyin is greater than the overlap between Douyin and Kuaishou.
Zhang Lei nodded and said, "The difference between VR and smartphones is that VR creates new demand, while smartphones discover potential demand."
The two are fundamentally different in their positioning.
A key reason why I'm optimistic about VR is that brain-computer interface VR largely solves the problem of insufficient immersion in traditional VR.
The latest Futureverse even makes it a little hard for me to distinguish the boundaries between the real and virtual worlds.
That's really amazing.
In this day and age, the vast gap between the rich and poor and the high-pressure pace of life make people more likely to become addicted to the virtual world.
Meanwhile, the lower classes' immersion in the virtual world helps tech giants achieve higher valuations.
Tech giants use higher valuations and greater profits to develop more advanced technologies and more addictive business models.
This is a positive cycle that continuously exacerbates users' addiction.
In the VR era, this phenomenon will definitely become even more severe.
To elaborate further, in this era, the only ways to turn your life around are to either become a programmer and join the ranks, or to make money through the platform.
Or restrain yourself, curb consumerism, and focus your energy on saving and buying assets.
Of course, most people cannot withstand fluctuations in the macroeconomic situation and the specific economic situation around them, even if they save money.
However, saving and then buying assets is the only way for most people from the lower class to turn their lives around.
Especially if you happen to be caught in a financial crisis and have cash on hand during it.
Take the 2008 financial crisis as an example; America's financial crisis was caused by the collapse of its real estate market.
Back then, the real estate market saw a 20% drop, with a cumulative decline of 33% over five years. However, it has completely recovered in recent years, and the property values in core areas have even increased significantly compared to before the financial crisis.
Buying assets to hedge against inflation also requires buying core assets.
New York's housing prices quickly returned to their original levels and continued to rise, while North Carolina's housing prices have remained within a 5% fluctuation range for twenty years.
"Therefore, human nature is the biggest driving force behind the rapid development of the Internet."
Internet professionals are constantly discovering and creating new needs for people.
Zhang Lei and Young would talk about macro-level things, but they would never talk about any projects they were currently optimistic about.
In any field, competitors are always rivals.
Both of them have excellent judgment, so if you mention a project you've been working on recently, the other party is very likely to snatch it away.
Truly good projects with a well-established and mature founding team will generally not lack investment.
If Lu Zhengyao wanted to start a business, there would be plenty of people willing to invest in him.
Of course, the situation in recent years is different from that in previous years.
Between 2016 and 2019, there was plenty of money but few good projects on the market; after 2020, there is both little money and few good projects.
In recent years, investors have shown a greater preference for companies with stable returns, such as resource and energy companies, while their enthusiasm for internet companies has declined.
It's because the benefits of PCs and mobile internet have been largely exhausted, but the situation is different now.
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