Yu Yongfu: The Era Of Traditional Internet Entrepreneurship Has Basically Ended.

The era of traditional Internet entrepreneurship has basically ended, which means that the traditional Internet has no meat left.

So it's best to keep these Soup for 80 and 90.

The following is the full text of Yu Yongfu's speech:

Yu Yongfu: Thank you for the introduction of the host. I should say that the veteran of the mobile Internet has just entered the conference hall, feeling like ten years ago.

The second point is that there are many beauties on the road doing all kinds of promotion, but the only difference is that they are dressed more conservatively this year.

On the road, I suddenly wondered, which industry should I belong to? Because when you do lots of documents, you have to choose your own industry in the next menu.

Originally from my association with mobile Internet entrepreneurs, I did not hesitate to choose IT, but IT understood differently. In tradition, IT's understanding should be the information industry. When it came to the Internet, it understood IT as the Internet technology industry. In fact, the Internet has been developing for 20 years.

As an old soldier, I am thinking, as a 40 year old person, do I still have to work with the post-80s and 90's?

Today, I want to share with you that Yongfu expects to retire from the IT industry.

But where to start again? This is a topic I've been thinking about last year.

At this age, I will be restless. I am almost 40 and I have to move restlessly. So where do I fight from 40 to 50? I find it difficult to work hard in the IT industry. I have found a way, DT, but when I choose the industry, there is no DT yet. I hope DT will become an industry someday.

What is DT? In fact, it is the data technology industry.

To share with you some ideas from IT to DT, Ma Yun Ma was the first to put forward this view. I think this point is quite accurate, and it has been operating in this industry for many years.

The core of IT is that every one of us must pass a technology and turn it into an application to serve consumers.

So at different latitudes, we have to let our products win the users eventually, that is to say, you have to make products, and this product also needs to be an actor, eventually to win consumers.

But in fact, DT has changed a lot, that is, let the business and platform of DT business go backward. Your data is no longer a product and service directly facing consumers, helping more IT people to win the entire consumers.

I think that with age, you can go back. Actually, this is the biggest change.

If DT can't bring incremental to this industry, I think it's not very meaningful. I shared a point with you. I think it's not very meaningful to use the Internet industry in taxis. A total of 80 thousand taxis in Beijing, with a better technology to hit the car, means that another part of the people are less convenient to get taxis. There are only 80 thousand taxis in Beijing. But similar technologies such as special cars are applied to the whole industry. Actually, I think it's very valuable. The most important thing is to change the supply and demand. There are lots of new supplies that actually make our trip easier.

So any technology, IT technology or DT technology, the most important point is to bring incremental and incremental to create value.

The application of several figures enables you to understand my thinking.

Everyone has a scene, that is, a hotel on a business trip, whether it is an economic hotel or a five star hotel. Where is the worst experience? When you check in, you have to register and leave the store when you leave.

But do we really need such a link? Why do we need such a link? Because this link is actually a very important reason because of the lack of a good credit and financial system for Internet finance.

If every one of us is going to book a hotel, who will be staying? A series of information such as his ID card can be given to the hotel. Can I get to the hotel just like taking the card of the house or the two generation ID card directly to the door? Why do I have to check in at the front desk? Actually, I think the whole Internet industry will develop further. I think China has a great opportunity, that is, the opportunity of the credit industry.

The whole Chinese economy is developing too fast and too fast. In fact, our accumulation of credit is insufficient.

The credit system, like Alipay, is in fact a good way to turn the past credit data into everyone's credit assets.

You do not have to register at the hotel, then go back to the store.

Of course, there are still some government required identity cards to verify, but can be done by electronic means.

For example, I am carrying the marketing of the big data of Alibaba as a whole. In fact, the Internet has been doing more than ten years of marketing and marketing, but there are still huge problems in the two links, that is, the important draught in the next 5-10 years. One is the modern media purchase or the traditional media purchase.

There is no difference between the purchase and the traditional media purchase. This is not a very sunny, very data oriented process.

The second is the whole launch, for example, we see advertisements in a media, on Sina and Youku, all people see the same thing, but like Procter & Gamble has a large number of products, such as cosmetics, the cosmetics it produces are both used by men and women.

In fact, when women browse the content, they should give women related products. If a man browsing, he should give him men's related products.

For example, when I saw it on Sina, if I saw it, the advertisement for me was a lady's cosmetics. I never bought it for my wife. This is not male chauvinism.

The entire marketing industry, the traditional marketing industry, also involves data purchase and analysis.

Actually, in the business of Gao De, I really experienced this business as everyone for me and for everyone.

The whole trip is actually one of the biggest problems in all the big cities nowadays.

However, there is a limit to the ability to collect data of the entire road surface in traditional ways.

Now, we think that the largest traffic data in Beijing, for example, is not the traffic control bureau. It is not because the whole layout of the traffic management bureau is quite expensive. Only on the main road, there are some necessary systems on the main road, but what about the data in the whole area?

In the 13 year of this year, I think a very important point in the professional field is that today's data is for everyone and for everyone.

Everyone who uses data becomes the creator of real-time traffic big data.

Over the past six months, we have speeded up the opening up of the traffic information public service platform of the whole high Germany.

This is not an opening for commercial purposes, but a real consideration for me and for everyone.

We introduce the traffic bureau, pportation department and other professional partners related to the pportation industry. For example, we see that from the south to the north, the traffic police in Shenzhen, the traffic police in Wuhan, the traffic police in Tianjin, the Beijing traffic station and so on have all joined the High German traffic information public service platform. We let the value of the whole traffic information finally be generated, for example, avoiding the congestion in real time, so how can Beijing do so many cars and so many congestion?

Just now, I gave three examples that are closely related to the life of everyone, such as hotels and sesame credit, like the Internet promotion just now, like the whole traffic trip.

In fact, these industries, you can say that it is a traditional industry, it is not the Internet industry, it is not the DT industry, but our industries look ahead, the next 10 years, is still a sunrise industry, how do these sunrise industries upgrade? I think the core of the most important depends on the fact that through the DT big data, only through the big data of DT can the whole industry generate incremental and generate variables.

So this is to share with you about the data industry.

Share more about entrepreneurship, because every time I mention it

It must be related to entrepreneurship.

Yongfu is also an entrepreneur.

So, looking back, I think the Internet has been developing rapidly for more than ten years. We have both good news and bad news.

From the perspective of bad news, the era of traditional Internet entrepreneurship has basically come to an end. What does this mean? It means that there is no meat left in the traditional Internet.

So I also suggest that colleagues who work hard for 10 years on the Internet do not work hard on the Internet. Why?

So we'd better keep these Soup for us after 80 and after 90.

After 70 or 60, we will switch to battlefields and move to new areas.

So, for the traditional Internet from the US, China's traditional Internet, the whole industrial structure has basically been set, so the scale of entrepreneurial opportunities has been very few, but there are still many entrepreneurial opportunities in some application and service levels.

In addition to the traditional Internet, what will happen next 10 years? The Internet Conference will have to thrive for another 10 years.

I think the most important one is to think about 10 years later. Will anyone else discuss the Internet industry again? I don't think anyone will talk about the Internet industry in 10 years, because all industries are already Internet.

So the word that may be discussed is called "Networking" and "data". But no one will discuss the Internet industry, and all of them are already Internet. What is actually accelerating in the past 10 years? What is accelerating is our traditional definition of Internet and non internet convergence.

This is the main theme of the next ten years. Is the competition for big companies still the Internet?

I would like to share this with you.

The two are in.

There are two things that matter.

First, what is the core of their integration? Not technology. In fact, technology has already played a role.

At the time of these two integration, the core point is actually data.

Second, in the process of integration, we should be awed. I use a word called "awe" and awe of the non internet industry, because Internet technology is actually a means when such a non internet industry can finally succeed in pformation.

For example, I shared on the first day of Gao De, I said that in fact, Gao De is a very typical integration of traditional geographic and Internet industries, but in the end, we can do a map well, in fact, we need the ability of Internet plus the professional ability of map.

But ultimately, to succeed, the competition is still a geographical major.

So this is a point to share with you.

Finally, I think that after the worst of times, we will see the best times. Because compared with 10 years ago, entrepreneurship and innovation, the environment of today's external environment is getting better and better. Why? At least, more and more money. Now we find that financing is much simpler than 10 years ago. You know, at the end of 2006, when I was in the first round of angel investment, how many investment did Lei Jun and others invest? 2 million yuan.

How much is the bigger financing we created in 2007? 10 million dollars, today is sprinkled water. Do you know what the market value of Tencent is listed? How much is the market value of Baidu listed? Many companies now have a small amount of financing.

I hope I can retire at IT, start again at DT, and start a new business with everyone.

Thank you.

Yu Yongfu believes that in the next ten years, the entire Internet will evolve from the era of IT (Information Technology) to the era of DT (Data Technology). Enterprises need to study how to make data driven business and turn data into business.