Yang Yong and His Circle of Friends
The value of crowdfunding varies too. A high-value crowdfunding functions as both a transaction and an incubator. It adds value to the project, as well as creates the space for imagination. Today, such projects as 1898 café, represent a new model of crowdfunding: integrating capital, values, social resources and culture of the public. More importantly, there is a wide space of imagination: it allows latent resources to be converted into business opportunities; it enables fast aggregation of a substantial amount of resources and makes it possible to do something big; it reduces the risk of entrepreneurship and innovation; it gives the power of voice to those professional with real capabilities to get it right.
Crowdfunding is nothing new. Traditional fund-raising also relies on the public for capital. However, crowdfunding has created a new mode of fund-raising. Unlike the traditional large-scale fund that can afford some transaction costs, the scale of crowdfunding is relatively small. It therefore requires more efficient communication. Otherwise, the costs would be too high. Fund and crowdfunding are not supposed to be exclusive, but to play different roles at different stages of a project. This platform is not for projects at a very early stage, because more investors here are amateurs and require much more risk control measures compared to the professional funding bodies. However, the expectations for return of investment are not as high. It is more of a model of benefit-sharing that offers mutual support.
Crowdfunding will become a new model for the future as the society develops. A good crowdfunding project can satisfy the public’s demands for investment and meet their needs of social communication. Although crowdfunding is supposed to be centerless, it often requires a core initiator at the early stage and an enthusiastic promotor at the later stage, who organizes events, pulls together resources, and creates a sense of participation and belonging. But one has limited time and energy. It is likely the sense of participation and belonging will be weakened as one takes part in more projects. For better returns, it is sensible to choose a suitable crowdfunding project and engage intensively in the project.
Yang Yong, the architect of this mode of crowdfunding, has no intention to be restrained by the café project. Many consulted him to initiate a wide range of projects, including schools, hospitals, vegetable patches, dumpling houses, and even logistics, satellite many more unexpected ideas. Everything is still “on the way” though.
Top Talk
Zhao Jing: Legal Innovation in the Internet Age
Zhao Jing led his team and completed a number of important investment projects, for which he was rated one of the highest ranking solicitors in the AsiaPacific region by a number of international rating agencies and professional organizations, such as Chambers and Partners. Under his leadership, Zhong Lun Law Firm has become one of the first and the most prestigious organizations to provide comprehensive legal services for the Internet industry.
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Zhang Dian: the Way to Investment, the Way to Entrepreneurship
Company & Case
Bluera Group: For the Dream of a Blue Sky
Zhan Tianyou, the chairman of the Bluera Group, is a doer and has a packed schedule. After setting up Bluera Group in August 2014, he visited the local governments and car manufacturers, and soon set up eight joint ventures.
“Now haze is everywhere in China. New energy vehicles are critical to the sustainable development of the country.” said Zhan Tianyou, “Our purpose of setting up this company is to realize the dream of restoring the old-time blue sky in Beijing.”
As to the future, Zhan Tianyou hopes to lead Bluera Group to become one of the top three firms in China within 10 years, and become one of the world's top 500 in 20 years. “We will not change directions easily. We will stay on three plates and cover five industries. We will stick to our goals and work hard to move forward!” Zhan Tianyou is ambitious and motivated.