Entrepreneurship topic: Starting from scratch

IBM has also come to China for venture capital. The second spring of China's Internet industry is coming, albeit in a faltering manner. Although it has been only five or six years since the last bubble burst, people always like to forget in their memories and reminisce in their forgetfulness...

No matter what, good times seem to be coming, but the key issue is whether you can hold out until the day of "universal liberation." Getting venture capital money may be the aspiration of the majority of the warriors striving in this industry. However, getting venture capital does not necessarily mean success, and failing to secure venture capital does not necessarily indicate failure. Thus, I am reminded of Gordon's record of a period of railway stock speculation on Wall Street in *The Great Game*. In mid-19th century America, undergoing a tremendous transformation from an agricultural society to an industrial one, railways were undoubtedly the best tool to drive this change. As a result, railway stocks became the most pursued objects by Wall Street brokers and investors. Regardless of the quality of railway assets, the performance of railway operations, or the existence of management, as long as it was a railway stock, there was no worry about raising funds. Naturally, this led to a mix of good and bad actors, numerous scandals, and even blatant frauds where a railway company would issue a bond and then disappear without a trace. This speculative history brought 20 years of painful self-discipline to reshape integrity on Wall Street, inevitably followed by a painful "stock market crash" and nearly a decade of economic depression. Today, setting up an IT company, raising venture capital money, going public, or being acquired is consciously or unconsciously repeating the path of speculation. Almost all entrepreneurs define their goals as securing funding, neglecting the true value of themselves or their startups, and forgetting that "the market is the sole criterion for testing enterprises"... "The chance for an entrepreneur to get venture capital is like standing in a swimming pool under clear skies and getting struck by lightning, and this analogy is still overly optimistic." Perhaps when you hear this, you should rethink the purpose of entrepreneurship and the positioning of your business.