Editor’s Note: this is Wifi master key Li Lei Lei Feng network hard creating a public class speeches.
Following is a speech:
Particularly honoured today by invitation from Lei feng’s network, you can come to share. I think my lecturer is not fit, everyone is on the road with some friends or classmates. Today I will mainly talk about sharing economy, before that make a self-introduction.
I have two roles, one is even there is network co-founder and Vice President of operations.
Another was Chen style Tai Chi the 20th generation.
Why do this? Because when I was 16 years old my teacher has been studying his indoor disciples. My teacher asked me one day, Li Lei, do you know what is the best thing? I was thinking a lot, such as achieving freedom, have a decent job, and when a generation of martial arts, these are all things I felt very happy. But later, the teacher said, you’re wrong, in fact most happy is to make other people happy.
I do the sharing economy when they really feel the joy.
What is the sharing economy?
Someone told me, the sharing economy is a concept. There were people willing to share your stuff to someone else, such experiments abroad, called “dictators experiment”. Is a group of people into two groups, one group called “dictators”, another group called “not a dictator”, dictators have $ 100 to spend, can also be distributed to non-dictators, they can all enjoy. Finally proved that most of the “dictator” willing to pay 30% to 40% money to non-dictators.
Very favorable experiment to prove the existence of a shared spirit, which is to define the sharing economy abroad. There are three elements, referred to as “3P”, “people and the planet, and profit”, people mainly refer to in such a sharing of economic mechanisms there are two kinds of people, and those who call contributors, and those who call recipients. Then, the second element is a platform, and the third is on a platform that everyone can obtain the relevant interests. In other words, these two structures formed on the people in the form of a complete business model, and enable it to operate continuously to achieve the status of a sharing economy.
As early as in 1978 put forward a sharing economy, so popular why two years? We take a look at the history.
1978 shared economy for the first time in this proposal, and in 1998, when, in fact, we had a shared economic, only that it failed that. PC Internet age when for the first time, had many shared economic products, such as the familiar BT, download software, everyone in College when they are using it to download. And Baidu knows, many people answer the question who is this audience group. I remember that there’s a more interesting question: “I find that my urine is getting sweet for two days, got diabetes? “Bottom, someone said, you taste you can go to a mental hospital for two days. Many funny jokes in the Baidu search to know, that was the PC Internet shared economic prosperity for the first time.
Later, especially in these two years, sharing the frequency of the word economy more and more, for what? We take a look at this pic: Paul Frank iPhone 6 cases
This picture I was very touched because when I was a kid, growing up in this environment. May be in another ten years, the poor may say, no WiFi in our family. That time while the condition is not good, but they still have a very innocent smile and full of happiness. When we saw that, we smile on my face involuntarily, and the heart will have a compassion. That is if I have the ability, I would like to take out part of my income or energy to help them, I believe that many people would feel like this, the right more important than ownership.
I remember jiuji years when there was a movie called the party a party b, the last of which a bridge is to GE their own homes to couple of terminally ill, achieve their dreams in Beijing. GE said, I think it is justified, he said, I do it for the sake of others, edify themselves.
So, a very important factor is the concept of change in order to share the economic development of a premise.
Again, for example. Beijing evening traffic is blocked, eight-minute journey can get 1.5 hours. Here to share data, Beijing’s population is 5 million unit of private cars, taxis 90,000 vehicles, how do we make everyone better traffic services, but also have a very good car experience? Actually a lot of only one of the passengers on the bus, there are few two three people if we pull off 1 million cars, and then put these people to the remaining 4 million vehicles, the situation would be better? This is the second factor.
We will look at several cases of shared economic, the first is Uber, the second is the Airbnb, is now a very successful model, their valuations are on top of the billions of dollars, and the third is our home.
Earlier this year, we completed a round of financing for $ 1 billion into the Unicorn enterprise. Abroad, become a prerequisite to Unicorn enterprise is required in a round to get a US $ 1 billion, and financing. Like Twitter and so some companies abroad in a round to achieve a $ 1 billion valuation. Our year-end Awards last year, give each a Tesla, including incoming call girls, 3000 bucks a month, got a Tesla. One day, a colleague told me that he signed up for Uber, this software is very good. I said where? He said I’m Uber 70 per week, weekend time, Uber can return to 7000 pieces. I said so well. But the company doesn’t seem very good for us, because this all Uber 40, don’t go to work every day, more than the company earned, so I was very angry, and then I signed up for a second day, I had to pull a Uber. (Laughs)
That feeling is not the same, because you appear as an Uber drivers when you don’t feel you are a taxi master, you will feel you are a car owner. And when commenting on, will evaluate the car very well, great service, you will feel your position is very high. And you will feel that you are green travel, green travel model.
In addition, I sometimes appear at 10 o’clock in a science building, the downstairs, and then open the Uber began to receive orders. If the ten points when I was still working, the employee may work diligently, and well suited to our entrepreneurial company; 2nd, his Uber, proven product performance can be the 3rd most important, playing Uber is not an invoice, he claims, the staff is very good.
(Laughter) a joke, a lot of people ask me, you do the sharing economy for such a long time, have any experience to share with you. Here I speak of three elements.
Sharing economies share?
Subversion 1, remodeling experience.
This graph is very interesting, I like it very much. This is a group of migrant workers after a hard working day, and returns to his quarters, each man took out a cell phone and opened up a new world. They were the happiest time of day, might appear in this period of time. When I see a group of people, there are many people in when using a mobile phone in the corner, I found that mobile Internet is in itself a kind of subversive, what are we going to be more subversive?
Master key does what, exactly, we do two things change:
1th wireless to subvert wired. Before everyone with a network cable and a laptop to use the Internet, today we can completely throw away line, solve Internet access with WiFi problems.
2nd is to use wireless to subvert the cable. Everyone takes Internet traffic charges in the past, 2G, 3G, takes traffic charges in the case, but after you’ve used skeleton keys, traffic charges completely eliminate, millions of people can be networked.
So I think this is a subversive product. I’ve also tried the other products, the principle is very simple, is to help you compress the flow of 2G, 3G. Because when we are accessing the Internet, such as reading the news, the picture takes up a lot of traffic resources, we put these pictures on our server to compress and then back to you, so that your own traffic dropped by about 20%. We think this product is very good, very subversive, and help users to solve the problem, but why we are pushing for a long time or not?
In 2012, when the venture is far from now on fire. We thought, isn’t this bad name, was renamed “flow sanitary napkins”, but still fails to attract eyeballs to download. Then we thought, this is not a subversive, it did take the cost to 30 a month, now it takes 25 without completely impressed, so we feel real products to be disruptive is to really ask yourself.
2, to establish a shared security system
3.15 the year when referring to fishing there WiFi. Fishing because WiFi is a hardware problem, is it in here for a reason, this reason is a router for fishing, do not set a password, and would advise anyone to go to the router, will give your information away, so we imagine that this problem is not a software problem, it is a hardware problem. That is, phone Shang not loaded WiFi universal key, or not loaded any security software also will to joint not with hot of WiFi, is loaded not loaded software with it of risk actually no more big of relationship, but we products from began on thought has may some equipment Shang of risk, so we do we of efforts to avoid such of things, so we do has security detection, including cloud fishing WiFi of recognition, this is from we began of when, will consider to, Then we did some safety tips, to further ensure everyone’s safety.
A lot of shared economic strategy, is to start operation strategy. This picture is our second year when you start an Office where, as you can see, there’s a House.
This is all beside the house demolition site, only one a single family, in fact, it is a neighborhood, not removed, so our office there for a very long time. I once talked a little girl running for a long time, because we’re hiring, so let her interview, she probably went to this location is so scared, she called me to say, he says you are inside a small house? I say yes, you talk to come. Then she said, I still forget it, I’m a little afraid, I’ll go, I’ll talk to you later.
This is my first employee experiences when thinking is still very bitter. I chatted with her for a long time, even for emotional communication, but still had to go, I was very sad. I think this is no good, so I also not six months to recruit a person. Especially when you are in the early, finding it hard to recruit the best people.
Later I went to the big customer service center, there are many little girls, well go into a pool, all brothers to the hiring, the more reliable. I was a little girl, that was fine, but after a couple of weeks she said a Word to me, Lei said that’s not the life you want, I say, you go to the life you want. Third girl came to me saying a Word, as long as you can show me tomorrow, I would tell you to do. She doesn’t care too much about myself every day how hard, how tired, she went to see the data, she will go to Baidu index, see if that curves up very well, she will go to see her daily active users is rising every day, so the little girl followed me for three years, also got a Tesla. Tesla the day her classmates call her, this thing really is your company? She told me excitedly.
So this is very important, we were able to start, but it is not as Grand as the rumored gave a great deal of capital to support. You see, we are a small house, was very classic line up with strategy.
A keyword can get involved is to seed the user, access to seed the user later spread is very important to you.
For example, Uber early on when user is CEO of seed or elite like the CEO, because when they said a lot of people will go to, he is likely to drive a Rolls Royce to pick up a passenger, could all be one topic at a time, therefore, facilitate word of mouth and Word of mouth marketing.
Universal WiFi key start, exactly opposite, Niggaz we seed users are the users.
Is so cock wire user groups, they all have some unique characteristics. The first characteristic is that they are very need to flow, but economic fundamentals are not very strong, so they are very sensitive to traffic, when he saw such a product, he is very easy to try, this is a factor.
The second factor, of these people are living lives of people.
For example student groups, migrant groups or farmers ‘ groups, who are living together, so the mouth forms a very good environment.
3rd is also very important, is that these people have to show off.
Like we five a people with to dinner, came to this restaurant, then I no asked waiter to password I on directly even Shang has, I on with others shows off even Shang has, and you no, you also have entered password, to password, more trouble, this group people on have asked you has what approach, has what inventions, a said suddenly spread has four or five a people, this four or five a people yihou again to dinner of words on and will effect a people, so such of spread will very very to fast.
So here, we used the strategy was to rely on such a group of people to spread. There is an interesting story, someone sent us an email saying thank you master key.
He said chasing a girl before, she says, you cost me, you want to be my girlfriend. Girl, we can try, he gave her a WiFi key, on the results where there is WiFi, equivalent to the flow, they are still in one piece. This speed is very fast, and the impact is very big, it is said we can start strategy.
3, unique product cold start operation strategy
Finally, our company unique. We are the network set up the day at noon each day have the habit of fighting, Tai Chi I took them a few times a day, from which we find slowly, companies we are doing when using the philosophy of Tai Chi. Weak, for example, many people may not come into contact with Tai Chi, may not be enough image, I give you two look: Paul Frank case
Tai Chi are actually slow the process, fast, slow, and you feel more slow. Tai Chi’s slow-not in the mood to assume nothing, but thinking, gathering energy, the thick product sends thinly, gathered at one point and then broke out.
To the philosophy of slow play fast, in the process of company it is important: not to do wrong, do as much as possible, each iteration as trial and error.
So far this year, we did a three-year period only three major versions have been issued. Smaller companies in the process of growing up, especially if growth better, a lot of investment Chamber of Commerce asked you a question: what if the BAT than you?
So WiFi master key the product, spent two years, from 2012 to 2014 without any news. In 2014, one thing we all know is the Tesla come to China, it spread very quickly. Many people like to take the opportunity to market, like sister Liu and milk tea, including UNIQLO events some time ago, and this process, we only remember UNIQLO, these three words, just remember they want to marry the thing, a few people will remember you want marketing of products?
This process must be done in a different, we considered in Tesla’s time, for example, has anyone done this thing, and if no one did, and then spread, you can try to do. Sure enough, everyone is willing to share in his own circle of friends said the family boss, may also do so by his boss, has spread this time, after transmission continues to spread. So thought of Tai Chi have been affecting our company to do things. Slow play fast, or not to do, to do it through thoroughly, this is our style.
Today, a lot of people here are from entrepreneurial companies, you might think, which shared the economic sector may also occur, if we look at this set of charts.
This table is very image, let us first look at the Hilton this data. Founded in 1919, now has nearly a century of history, only 715,000, while Airbnb is established in 08, and now less than 10 years, already has 1 million, valuations are the same. But after the time difference is very big, this is the shared economic and disruptive impact of good data of case evidence.
Here, I would like to talk a little venture-side of things. Because we recognized this year for a stake raised, took over more than 20 shares, 65 million Chinese Yuan to do equity recognized discs.
We have a lot of confusion, some users do not have to use universal WiFi key, because they use the phone. In January 2015, at our first version, used to be the Android, he said how could you have so much, I went back but we are no one, then I say you ask. Some people come back and say, I finally found it, I went to the taxi, taxi drivers, nine out of ten people of them with, so I think it’s a user volume of products.
Such a process, a round told us that truly understand the product is your users. Recognize this equity raise is a good case in point. Many users to drop us a feedback, have wanted to buy three copies of the. We had one that was 1.3 million, in fact, to buy three really is not the average person can do it. However, many users say, I used your products for two years now, I feel good, so I’m willing to vote. I felt at that time, private capital is very active, with shared economic way to do some private capital to come in, is good for all aspects of business.
So we think the wind may be a way to share the economic subversion, then like finance, health care, education and even see more.
My hometown is in Hebei, one of my nephews coming to Beijing to see a doctor for three o’clock in the morning to line up in the hospital, released after doctors told him the three words will be back, in fact, completely at home inside the medical resources is to solve this problem, but because of information asymmetry, they all go to the big city like North Canton assured. If we can solve these problems, are likely to also have a shared economic good.
Looking to the future, and even knowledge will be shared to the economic approach to business, and do a better job. Imagine every morning after getting up the first thing to do is to go online to get a task finished the day’s events, took the day’s pay. Everyone can experience more of the industry, can feel more happy, and so is our economy to share some superficial knowledge, thank you very much.
Following is part scene exciting question and answer:
Q: If BAT company plagiarism (which) do? Because I think the technological bar is not very high, and will not hurt the BAT where the value of the existing model, for WiFi the imitation of a master key, BAT and a day to get out, Tencent and Ali do the promotion is very simple.
A: the sharing economy one of the biggest barriers to competition is the big data. Master key has 2 billion hot spot, the hot not BAT a copy of data to get. But someone in your platform using your product data, is less willing to travel far and produce data. We have the willingness to share the number of hot spots in the hundreds of thousands of people, which is accumulating on my platform, so not necessarily BAT out the products people are willing to go to their platform.
Includes 360 and Tencent have the same mechanism with us, sharing WiFi product, we use two years building a product, network speed, stability and security have all been accumulated for a long time. People think networking is equivalent to a master key, directly on your WiFi, because the experience is better, to see the WiFi is connected to, but today the company has a product, focus not so much failed last time, are less likely to use your products.
And these giant’s products, each product has a feature. Such as letters, its function is to chat, it pushed e-commerce and other things, but did seem to be more than companies like Ali. Each company will have functional natural brand, and we feature brand makes plenty of advantages, and then beyond it is very difficult. I admit, if there are sufficient human, material and financial resources, the client can get its own research and development in one or two days, but the accumulation of data is not a company in a short period of time to complete.
We announced in last December when the O2O strategy because WiFi is really a node O2O, connected online is a good, reliable Internet services on line, line 2 billion hot pair coordinates. Dang you even Shang WiFi Flash on will appeared a scene, we put this O2O of service called scene of, like today you came to this café, so you of property is catering, we to you push sent of service may is this between Café of information, this recommended believes it of into rate than General of General suitable sex to precision have more, so we is in O2O field put tool class products back extends.
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Millet WiFi amplifier
I believe we will have an embarrassing question, WiFi signal that is home always feels strong enough when we think about adding a Repeater to increase signal coverage range. New millet and millet millet WiFi amplifier is also the router to see how its experience.
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