Morningside capital Yuan Ye how to grasp the essence of the needs of users of products from the dea

Mr. Yuan Ye

is the investment circles of cutting-edge, born in the 87 years, for only five years of investors, by virtue of their unique judgment, has made the second shot, then,, snowball, next to a large number of star enterprise.

1: uncertainty

if you want to ask the circle of friends of the Internet industry what is the deepest feelings of this industry, most people can not do without the word "change".

indeed, the industry is changing too fast, not only changes in user demand, financing environment is changing, entrepreneurial opportunities seem to become less difficult. The reason may be related to entrepreneurship and investment has always been in a highly uncertain environment. We are committed to changing the search for certainty, and with great failure at the expense of the progress of science and technology ecosystem and the achievement of a small number of companies.

in fact, some factors have been relatively constant, such as the nature of the user’s needs, the essential function of the product.

in the uncertain environment, entrepreneurs like a continuous discovery and iterative rules break the rules find again, like investment is iterative and entrepreneurial accompanied a + + + distribution observed cognitive recovery. This environment, contrary to most common sense, natural science tells us the formula and the law, and through a certain amount of training to strengthen the brain experience ability.

most of the scenarios, induction and experience to benefit people, to avoid the huge disaster and loss, and further strengthen the fear of rules and experience, this mode of thinking gives a sense of security. However, in the context of venture capital and investment, more significant opportunities come from innovation rather than empirical incremental innovation.


2: To explore the essential needs of

Although there is often a high degree of uncertainty in the area of innovation innovation,

can still look for relative certainty in the process of change. When we talk about where the opportunities for the next 5-10 years will be and how will the user’s needs change, we may have to look at the other side of the question: which needs are relatively fixed, and the direction of which needs to be determined?

individuals can not continue to lead the market, the business model will be based on the direction of the stability of the demand, the focus of resources continue to strengthen it, you may be a lot of chances of success.

Amazon founder Geoff · Bezos (Jeff Bezos) found that consumers need to lower prices, faster delivery, more choices, and that the three demand will not easily change over time, even if the change of direction is to determine the relative, so Amazon will continue for many years the three directions put all resources and reinforcement your competitive advantage.

back to the Internet startups, in recent years, the growth of the super Unicorn Uber and Airbnb, are relatively true