Zhihu cloud rings the bell, bitcoin can buy Tesla, new regulations on user privacy collection come into effect on May 1, software boom, etc


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Zhihu cloud rings the bell, bitcoin can buy Tesla, new regulations on user privacy collection come into effect on May 1, software boom, etc

Pic from <See You On The Moon>

2021,More Together.

/News Briefing.

It is said that Microsoft wants to buy discord at a price of more than 10 billion US dollars

Discord, the game’s voice & text chat software, has expanded to other forms of social networks and is said to be making a deal worth more than $10 billion. Microsoft is in talks with discord to buy the service for more than $10 billion, but the deal is not imminent, and discord may choose to go public, according to a report by Bloomberg.

Slack launches clubhouse style studio function

Stuart Butterfield, CEO of slack, joked that new features of slack are being tested: asynchronous audio messaging, clubhouse style voice chat and instagram style slack stories. The Executive announced the news in a live broadcast at clubhouse, adding:“Good artists copy, great artists copy.”Slack also launched a new general DM system last week, called connect DMS, which allows any slack user to send messages directly to any other slack user. It was immediately pointed out that the system could lead to harassment and abuse.

New rules on user privacy collection will take effect on May 1

The government has made new regulations on user privacy collection of information applications — users of short videos, news, browsers and other applications can try out basic services on these platforms without providing personal information. The new rules, which will come into effect on May 1, cover 39 application categories, including instant messaging, online shopping, payment, taxi, short video, live broadcast and mobile games.

In the United States, you can buy Tesla directly with bitcoin

Last week, Tesla allowed U.S. users to choose to buy Tesla with bitcoin – Elon Musk’s love for bitcoin.

/Key IPO

Zhihuyun rings the bell

Chinese startups are more willing to reshape themselves and eat away at their success.

Zhihu cloud rings the bell, bitcoin can buy Tesla, new regulations on user privacy collection come into effect on May 1, software boom, etc

Zhihu, the largest Q & a platform in China, started trading in New York at the price of US $9.50 per share at the low end of its IPO range, and the market valuation of Zhihu is about US $5.3 billion. Assuming that the Underwriters do not exercise their option to purchase additional DRS, we know that the total size of the IPO and the private placement in the same period is $772.5 million. With Zhihu’s massive IPO, some Silicon Valley executives and investors may begin to pay more attention to the 10-year-old Chinese company, which was once simply regarded as “China’s quora.”.

Q & A is still the core of Zhihu, but the service has far surpassed its American counterparts.

“I think quora is a very good product, but it’s still similar to quora 10 years ago,” said an investor in innovation ventures, who is Zhihu’s seed investor and quora’s largest external shareholder, with a 13% stake.

“Zhihu has grown up and is becoming a multi-faceted knowledge centric super app, while quora is still a question and answer website with mobile apps,” he added.

In addition to promoting Q & A, Zhihu has also been involved in other forms of knowledge sharing, such as premium content, live and audio, online education, and now they are very mature.

According to its prospectus, today, about 70% to 80% of its revenue comes from advertising, although other businesses such as membership and e-commerce are also growing, indicating that it is trying to diversify its cash flow.

Some people say that the reason why Chinese start-ups are different from American enterprises is that they are willing to cooperate“Reshape yourself and nibble at your success.”.

“Because they know that if they don’t, their challengers will, and they’re ambitious to make developing super applications a dream. I think American entrepreneurs tend to build something very good and relaxed, work with other companies, and stay in their comfort zone. “One investor said he was the president of Google China at the end of the 21st century.

“I really think that Silicon Valley and American entrepreneurs should look to China for ideas or inspiration for different ways of doing things.”

From 2019 to 2020, Zhihu’s monthly active users will increase from 48 million to 68.5 million, which indicates that the platform’s vigorous development has surpassed the small customer group of Chinese technology elites, investors and scholars it initially attracted – a new mother may ask for post natal tips on Zhihu, and Foxconn workers may share her factory story on the website.

Zhihu’s revenue increased from 670.5 million yuan in 2019 to 1.4 billion yuan in 2020, while its net loss decreased from 1 billion yuan to 517.6 million yuan_ At first glance, commercialization seems to be incompatible with Zhihu’s principle of open user collaboration. Usually, respondents are not financially motivated.

It is always a delicate thing to balance the commercial interests of products and the interests of users. The bottom line is to be alert and thoughtful about the advertising or sponsorship content allowed on the platform_ Restrictions may mean less advertising revenue, but the 2016 medical advertising scandal at search giant Baidu shows that user trust can be easily lost. On the other hand, proper and responsible advertising can bring greater returns to advertisers and platforms.

In terms of innovation, not all users appreciate Zhihu’s new features. China Kwai recently has increased its tiktok input, which has become the default medium for many Chinese users to get information, thanks to more affordable network connections, and industry pioneers such as jitter and fast hands.However, some users think that short video is close to entertainment in essence, which is a bit abrupt for Zhihu, who is more serious and pays more attention to words.

I know that there are other interests to be balanced. Its shareholders include Tencent, Baidu and Kwai Fu. The three companies themselves are super applications, because they have a very wide range of functions. They all have corresponding agreements with Zhihu. For example, Zhihu’s content should appear in wechat’s search results.

Although joining hands with giants can promote the user growth of small companies, the dependence on outsiders may also restrain a start-up company, force it to give up a large number of shares prematurely, and damage the interests of multiple allies, who may become competitors themselves.

/ Some Thoughts.

Software boom

Tesla is bullish because it is a software company, and bearish because it is a car company.

Ten years ago, Marc Andreessen published an article in the Wall Street Journal entitled “software is eating the world.” he believed that the role of software in the economy had fundamentally changed.In the past, IBM, Oracle or Microsoft sold technology to other companies as a tool. They sell computers and software to General Electric, P & G and Citibank. Now there is a new generation of companies that develop software, use it themselves, and then move into and change another industry——Just as airbnb doesn’t sell software to taxi companies and hotel companies, instacart doesn’t sell software to grocery companies, and transferwise doesn’t sell software to banks.

It is useful to compare it with electricity, cars and trucks. Wal Mart is built on trucks and highways, but Wal Mart is a retailer, not a trucking company – it’s just using trucks to change retail. Now people are doing the same thing with software.

But it’s also interesting to look at specific industries that have been damaged by software, and what’s going on. The first – obviously – is music recording. Technology has had a huge impact on the music industry, but no one in today’s technology world spends too much time thinking about it.

15 and 20 years ago, music was a way to sell devices and keep people in an ecosystem, but streaming subscription services meant that music no longer had a great strategic impact – if you switch from iPhone to Android, or even from spotify to Apple Music, you won’t lose an entire music library. At the same time, relative to the development of the technology industry, the absolute size of the market is negligible – the record industry’s total revenue last year was less than $20 billion (half the peak level in 2000), while Apple’s revenue was $215 billion. No one cares about music anymore.

Similar things happen in the publishing industry. Amazon accounts for half of the market, and e-books have become a real business (though they are still a niche market),Self Publishing has become a new vertical field. Like music, Amazon has no strategic leverage. Last year, the total revenue of the U.S. book market may be $25 billion, while Amazon’s revenue in the United States is $260 billion. No one in the tech world cares about online book sales or e-books.

However, more fundamentally, for music and books, most of the debates and problems are about the music industry and the book industry, not about technology or software. Why can’t artists make more money from streaming? No one cares about similar problems.

The same thing is happening now in the film and television industry. Technology has broken the old model and changed all the rules, but the problem about the new model is the film and television industry’s own problem, not the software problem.If the movie was part of a streaming subscription service, what would happen to Tom Cruise’s share of total revenue? How long does Netflix TV play last? Where will sports copyright go? It’s all about Los Angeles, not Silicon Valley.

Netflix uses technology as a wedge to enter the TV industry, but all the problems eventually become the problems of the TV industry itself. At the same time, just like music and books, movies and TV have limited strategic value for big technology platforms – Amazon uses it to drive prime subscriptions, while for apple, video content is a marketing tool. Content is not king.

Today, technology companies are interested in TV not because of its content or sales equipment, but because the US $65 billion advertising spending may be working. More broadly, it is because in the past, as an independent market for advertising, marketing, retail rent, shipping and other businesses, it is now becoming a large and highly replaceable Tam market, It’s worth $7 billion to $800 billion. Not many people care about Real TV.

There’s an old joke that consultants are like gulls – they fly in, make a lot of noise, make a mess of everything, and then fly out. It’s almost the same_ The impact of technology on the media industry – it changed everything and then left_ Now it’s also happening in the retail industry – everything technology, software and the Internet do to media is now happening in the retail industry. Technology will change everything again, but once the dust settles, the problem will be mainly the retail industry itself, not technology.

In fact, the same view applies to Tesla’s automation upgrade, which is obviously a software problem, but if it is replaced by electric vehicles, the problem is not so clearTesla is bullish because it is a software company, and bearish because it is a car company.

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