At 8am on September 9th, Zhang Quanling, the host of CCTV, published a long article entitled "The Second Half of Life" in Weibo, confirming that he had left CCTV to join the venture capital field and become a partner of Niuzi Fund.

It is reported that the partners of Niuzi Fund include Fu Sheng, CEO of Cheetah Mobile, Li Xueling, CEO of Duowan Games, Yao Jinbo, CEO of 58 City, and Su Mang, President of Fashion Group. At present, the fund has invested in three projects focusing on content production and will invest globally in the future.

Zhang Quanling said in her long microblog that the change originated from a false alarm of suspected lung cancer at the beginning of 20 15, but it also gave her the impulse to see the world from another angle.

Zhang Quanling believes that at the age of 42, it takes courage to jump out of the fish tank, out of his accustomed environment and out of what he is good at.

Zhang Quanling finally chose to take risks for his dream.

Zhang Quanling, whose identity has changed, is getting busier and busier. In the short time before she boarded the plane at noon, www.thepaper.cn and Zhang Quanling chatted about her views on current entrepreneurship and the future investment direction of Niuzi Fund. When talking about a good project, the newspaper can also feel Zhang Quanling's excitement by phone.

WSJ: As a partner of Buffalo Fund, what do you think is the most important thing for investors?

Zhang Quanling: All entrepreneurial teams will not be perfect in the initial stage. Most entrepreneurial teams valued by investors often have the following three points:

First, you must have a dream. You are fighting for your dream and have a long-term goal instead of just getting investment. People's different goals will lead to their different behaviors in the process of starting a business.

Second, with a particularly strong open learning ability, there will be constant changes in the process of starting a business. No entrepreneur can meet everything after the initial stage of starting a business, so whether an entrepreneur has an open learning attitude will mean whether he can correct his own route from his own lessons and other people's experience in the process of starting a business.

Third, the most important thing is that entrepreneurs need to have strong adaptability. Because in the process of starting a business, you will encounter too many difficulties that you simply can't imagine. Resilience is a quality that you should have when facing difficulties.

WSJ: Did you choose to leave CCTV and invest in Buffalo Fund because of your dream?

Zhang Quanling: That's for sure. I left my job because of my own dream, which will definitely play a particularly important role in the process of starting a business. I can't help but get excited when I see a good project. I hope to help these entrepreneurial teams with dreams realize their dreams.

Paper: As a global investment institution, Niuzi Fund has seen many projects of entrepreneurs from China and the United States. What do you think is the difference between entrepreneurs in China and those in the United States?

Zhang Quanling: There are many differences between Chinese and American entrepreneurs. In the United States, many entrepreneurs really start their businesses for their dreams, and their desire for success is not very strong. What impressed me was an American project to study rocket launch. There are only four people in this team, and the shelves in their office are full of previously failed designs. They call it. Failure museum? They didn't set a time frame for their success, but they did it purely for their dreams.

Many times, innovation happens in these places that you think are impossible, but the enthusiasm of American entrepreneurs is not as good as that of China entrepreneurs. This happens to be the reason why there are few shanzhai in America. If you want a cottage project, it means that you have to catch up with the previous team when you start late, but the low execution of the United States can't do this, so they would rather create something that others have never thought of, and the innovative experience is born. In China, when a project is on fire, it will drive a group of people to go in this direction, often lacking innovation. But I think what is needed now is China's super execution and innovative thinking of the United States, which is the greatest potential in the future.

Newspaper: Is that why you joined the training camp? The combination of the two.

Zhang Quanling: In the process of training camp, we have both the perspective of China and the perspective of the United States. We will also invest in some American projects in the future, because I think you can't just think that the Internet is just the Internet now. It permeates every aspect of society like water. When you look at the Internet in the traditional field, you will think that it is a black hole with infinite possibilities, but the Internet has no complete advantage over the traditional field, so if you want to win, you must stand in the middle between the Internet and the traditional field, not too Internet-oriented or too traditional.

WSJ: Did you join the Buffet Fund on behalf of traditional fields?

Zhang Quanling: As a global company, Cheetah Mobile itself has some advantages in the Internet, but I am familiar with traditional fields and have rich contacts. The cooperation between the two parties can effectively integrate resources. At the same time, we hope that Niuzi Fund will also stand in the middle and help entrepreneurs innovate from a global perspective.

Paper: At present, the three investments of Niuzi Fund are all content projects. What attracts you to these three projects?

Zhang Quanling: At the beginning of my investment, I chose to find suitable projects in my familiar industries. As a media person, I am definitely more familiar with content projects. I think that in the era of mobile internet, content is an entrance, and there is a huge imagination behind the entrance, just like the window of a department store, which attracts you to walk in, but there will be various services after you walk in. We can't just regard the content item as a single content output, but it can be a way to help the target population locate accurately.

Paper: What kind of investment direction will be considered in the future?

Zhang Quanling: Those projects that start businesses in China, but are not only satisfied with developing in China, but also want to complete their own globalization will be our focus. Our partners include Fu Sheng, CEO of Cheetah Mobile, Li Xueling, CEO of Duowan Games, Yao Jinbo, CEO of 58 City, and Su Mang, President of Fashion Group. These people are from different fields, and these related fields are the scope of our future investment.

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