Roundtable discussion: When we are talking about Metaverse, the new era of the Internet may have arrived | WISE2021 King of New Economy Conference

Metaverse may be the future, but if this future comes to mind, it requires continuous exploration and innovation on the industrial side.

From December 13th to 15th, the 36Kr WISE2021 New Economy King Summit was held in Shanghai. This year we will take the “Hardcore Era” as the theme. “Hard core” is the challenge and opportunity brought by the current era and the general environment to Chinese new economy enterprises. On the one hand, companies are required to pay attention to technological innovation and find their own “hard core” barriers; on the other hand, they are required to give back to the society and show more “hard core” “Nuclear” responsibility and responsibility. As we move from the “application era” of business model innovation to the “hard core era” of technological innovation, we have gathered together with hundreds of hard core companies to focus on macro policies, smart manufacturing, semiconductors, new energy, new consumption, etc. The track, comprehensively discuss how to build hard-core competitiveness driven by innovation in various fields.

Metaverse, which is what we often call Metaverse, may be one of the hottest topics in the Chinese investment circle in 2021. Facebook even changed the company name to Meta. Bill Gates also said that it will be in Yuan in the next 2-3 years. Meeting in the universe. Some people say that the Metaverse is the real direction for humans to explore the new digital world, while others say it is a technology scam. So what is the Metaverse? What is the bottleneck in the realization of the Metaverse? Regarding the investment in the metaverse industry, which areas should be focused? In order to answer these questions, 36Kr invited four guests to discuss this topic:

Jin Ming | Gao Hu Capital Management Partner

Zhuang Minghao丨Vice President and Chief Strategy Officer of Quwan Group

Guo Cheng|President of STEPVR

Sima Huapeng|Founder & CEO of Silicon-based Intelligence 

Roundtable discussion: When we are talking about Metaverse, the new era of the Internet may have arrived | WISE2021 King of New Economy Conference

Round table discussion scene

The following is the selected content of the roundtable discussion on the theme of the Metaverse:

Jin Ming: This is the first round table forum of our conference, and what we are talking about is also a hot topic at this moment. Next, I would like to ask everyone here, what is the “Metaverse” in your mind?

Guo Cheng: For me, because STEPVR is a company that does VR, I hope to divide the matter of “Metaverse” into “Meta” and “Universe” to explain, which basically accords with the word from English. The definition of Metaverse Universe, if you look at the “universe” alone, I think it is a world that can provide us with unlimited imagination. The imagination is very rich. Today, all the forms and products that appear in the universe in reality, including lifestyles, are There is a copy between Metaverse and Universe, but what I want to emphasize is “meta”. The reason why the “universe” is different from the region of the world today is because this “universe” is generated by a computer. It is a purely digital world, surpassing all the limitations of physics on us. If we can go to a universe such as meta , Is undoubtedly colorful, the key is how to meta come out of such a universe.

In the past few days, the circle of friends has madly forwarded a “spiritual” world defined by Qian Xuesen. He said that if we go to see Cyberspace, it will repeat the senses of sight, hearing, touch, and smell, and generate it with a computer. After this feeling is generated, people can Arriving in a virtual world, he called this world “spiritual realm”. We can think back to see how we defined this definition three or forty years ago. It is very similar to the “metaverse” and Metaverse universe imagined today. The key point is how to make a machine and a system to realize vision, The synchronization of the five senses of hearing, smell, touch, and vestibular sensation makes each of us feel as if we are in an immersive world. This is my understanding of the term Metaverse. This is also my basic understanding of Virtual Reality and Metaverse, and the word formation method is similar, Virtual Reality comes out, so this thing is also what STEPVR has been doing for the past nine years. This is my understanding of Metaverse. A basic understanding of.

Sima Huapeng: We are a company that does virtual humans. We have been doing artificial intelligence and virtual humans just now, and we have been doing it for more than three years. In fact, as early as when I was in college, I thought that human beings were in the virtual simulation environment of supercomputers, in a Meta, it was just another species that created us again. Many ancient sages and sages questioned the Meta environment we are in, just like the Buddha said in the “Diamond Sutra”, “When you see all forms, you see the Tathagata. All forms are false.”

Looking at ourselves, I have always thought that we live in Meta. It’s just that the Meta parameters that we are in are relatively poor, including birth, old age, sickness and death, wars, plagues, and other things. And the next Meta we want to build should be an upgraded version of real life, and it is to condense humanity’s yearning for a better life. platform. Whether it is based on NFT, decentralized DAO, or AI technology, this civilization is called a silicon-based civilization and is based on quantum mechanics. The Metaverse, in fact, carries everyone’s yearning for a better life. Building this platform together is like building an ideal country. This is the Metaverse in my mind.

A new civilization may be produced here, which is a very big impetus to the civilization of our entire humanity. Under this civilization, we will have a lot of new production relations, new distribution methods, new interpersonal relations… …I hope to create such a world, and we are willing to participate in the creation of such a world.

Zhuang Minghao: Let me give a very simple example. Friends who are about the same age as me or older than me should remember that China had an online survival experience in 1999. The content of the experiment was to find a dozen young people in Beijing. Let them stay in the hotel for three days, and then give them a computer to keep them alive. Can you imagine, if you travel back to 1999 from this point in time, how do you explain to them the smartphones and the Internet that have become popular today? How to explain the live broadcast? How to explain the live delivery? How to explain takeaway? How to explain all the things we do online? In the past 22 years, if we cross again, after 22 years, what would happen to you at that time? Maybe some people have bolder ideas, and maybe some people have more conservative ideas. It doesn’t matter. You probably think about what will happen at the current speed of technological development in 20 years’ time. That might be the Metaverse.

Jin Ming: Thank you, everyone, there are 10,000 Hamlet in the hearts of 10,000 people, and there are also 10,000 Metaverses. We imagine what the future Metaverse will look like. From what Mr. Zhuang just said, looking back at 20 years and looking forward at 20 years, assuming that the Metaverse we have in mind can be realized in the future, what is the path to realization? What are the steps? What is the approximate timetable?

Zhuang Minghao: The industry is relatively rational. Everyone knows that the realization of the Metaverse is a long-term affair, not even five years, but ten or twenty years as the calculation cycle. Because this matter involves a lot of technology stacks, including many related technologies introduced by the previous two guests. The current development status of each technology stack is not the same. There are some segments of the technology that are already relatively mature, just like Gartner will release the technology curve every year, all emerging technologies will experience from no one knows, obscurity, and begin to appear. The signs of growth then explode quickly. Many people pay attention to you, reach a very crazy high expectation, then quickly fall, reach the valley of despair, and then slowly return to rationality.

At this point in time today, among the Metaverse technologies we imagined, some technologies are in the first half, and some technologies have reached a relatively more rational and mature stage in the stage of climbing or high expectations. For example, the virtual person-related technology introduced by Silicon-based Sima has almost grown into a state of rational growth. These different technological developments are dynamic and unbalanced. You will find that different manufacturers and different stakeholders will find their own paths based on their existing businesses and accumulated advantages in technology, and all roads lead to Rome.

Jin Ming: Thank you Mr. Zhuang. Mr. Sima, we know that Silicon-based is a company focused on artificial intelligence technology. How do you interpret the path, time, and technical path we just talked about from your perspective?

Sima Huapeng: Silicon-based intelligence is a company that ” creates people in the laboratory”. We create a large number of virtual lives, which we call silicon-based life, which is different from our carbon-based life. As early as 2017, there was only voice, such as calling and customer service. Since 2019, avatars have been produced, and they are now lifelike, and they have made a qualitative leap in application in many scenarios. For example, on today’s National Memorial Day, we “replicated” Ms. Zhang Chunru at the Memorial Hall of the Victims of the Nanjing Massacre, so that she could tell everyone about the history in the venue. The reproduction, cloning and learning of life are the core business of our silicon-based intelligence.

We believe that there will be several stages in the development of the Metaverse.

The first stage, like the gloves recently released by VR or Meta, I think it is a manual driving mode, a bit like we use physical sensors to indifferently or puppetly mobilize virtual humans in another world in this world.

The second stage is similar to semi-autonomous driving. The virtual avatar in the virtual world has a certain ability to automate operation. For example, when I go to work, he does not forget to make money in it, and can do many things for me. But can we achieve an emotional expression in Meta? He is like our child. We taught him many things. He slowly became independent. When we were young, we might be holding him or driving him in the car. Then he disconnected from us physically and became an emotional connection. So I imagine that in the future Meta, my virtual person has a certain sense of autonomy. I called the first stage the “Ready Player One” stage, which means that the equipment tied to my body is like an avatar. When the body breaks, it breaks immediately there.

And in the final stage, just like the recent “Out of Control Player”, my virtual person awakens, he has a lot of my thoughts, my logic, and my consciousness in it, but with his autonomous consciousness, he can be inside. Making friends, traveling, posting vlogs, etc., is equivalent to him creating some of his life in it, and I look at him from a distance, and have a very deep emotional connection with him. This is what I mentioned at the beginning, and I often feel that our Creator looks at me in this way.

The future Meta needs a large number of intelligent virtual humans, not a group of virtual humans controlled by puppets. This is the reason why we are virtual humans as an artificial intelligence company, because humans are the yardstick that defines everything, including in Meta. We believe that human beings are the core, so we have invested large-scale technology in human replication and human cloning, especially the emotional and ideological cloning, because now the technology of TTS and image cloning is very mature, and the more difficult thing is the church. His other in-depth skills, and in this process, Meta will become the best place to train him, this will be the golden stage of AI development.

Guo Cheng: Brother Sima said very well. In fact, we are the journey of a thousand miles starting with a single step. We are doing the first stage. At this stage of “Number One Player”, we feel that we have recovered from the visual, auditory and vestibular senses, and we will recover soon. Tactile devices are placed together in offline stores. Friends present and online can search the offline VR space of “Future Battlefield”. In the near future, everyone can see and feel the first stage of meta in the “Future Battlefield”. Experience.

At this stage of experience, like “Number One Player”, if everyone has watched this movie, the final recognition of this device is that it will grow into a universal treadmill covering an area of ​​about 2.5 square meters, underfoot, and give it to you. Robots that provide tactile sensations, including the tactile gloves displayed by Meta (Facebook), are expected to be introduced to the market within next year, and we will mass produce them on the market. Next year, around June, we will use the equipment in the first generation of “Ready Player One”, which has the five senses of hearing, vision, vestibular sense, touch and smell, and restores the five senses, allowing you to experience another universe. The device, like a device that can enter the Metaverse door, is introduced to the market. We currently have almost two hundred cooperative stores in the domestic offline, and it is growing rapidly at a rate of 50 per month. It will be traditional next year. After the New Year, it is estimated that our speed will advance to 100 to 200 or more every month.

Basically, our online audience or the audience present, if you want to experience the Metaverse at this point in time or in the next one or two months, I recommend “Future Battlefield” to everyone, and I will also put an advertisement here. , We can experience today’s Metaverse through this door. All these devices are designed and produced by STEPVR. We are a R&D, production and designer of equipment and operating systems. In fact, a very realistic thing. In fact, when we were talking about Metaverse, when we were talking about the first stage of Metaverse, we were talking about a set of technology and equipment that can restore the five senses, which is very hard-core. Who will restore the five senses first? Allow users to enter the Metaverse, who can get the first ticket in the Metaverse competition, thereby occupying a place in the metaverse.

So I personally think that our STEPVR development stage, this time in the middle of next year, is a very important time for my company and even for the industry. We have read too many meta promotion online, and watched There are too many meta stories, we need to experience meta in a place where we can feel it in detail. Is this thing in “Ready Player One”, is it in the book “Avalanche”, is it in the novel of “The Matrix”, a Metaverse imagined in this kind of film and television works, I believe in STEPVR Here everyone will find a relatively satisfactory answer.

Jin Ming: Let’s imagine a bright future. Of course, the future will not be smooth sailing. What is the biggest bottleneck or difficulty that everyone may encounter on the road to realize the Metaverse?

Zhuang Minghao: If the thing we are talking about today is a concrete product or system, then in the process of realizing this thing, many of the technologies we are currently talking about may have reached the physical limit to some extent. If the technology itself is not adjusted or changed according to the existing development path, we will not see the possibility of a quantitative change to a qualitative change in the short term.

To give a very simple example, for example, before everyone would think that Quest2 is the staged result that we can see on the special VR glasses equipment this year, but there are still many problems that need to be improved, such as physical heating, Weight, resolution, computing power, cloud server architecture, support for the number of people who can be online at the same time, and the separation between the current centralized nodes. Although the ideal state of most technologies will generally follow the path of the technology curve, but because there are too many technologies involved in the Metaverse, it is necessary to take a step forward in each link, and everyone can take a big step as a whole. However, at this node, there may be some technical links that have temporarily encountered some bottlenecks, and it is difficult to move forward, or even within the next five years, this will affect the overall process at some point.

Faced with this problem, manufacturers need to make trade-offs, a game of boundaries, and a trade-off between commercialization and idealization. But this is the state that almost all emerging things have to experience, and it is this kind of trade-off that gives excellent and innovative entrepreneurs space to play, just like we saw Jobs release the iPhone that year, no one before him thought of it. In doing so, he solved the problem in another way and brought the world into the era of smart phones.

For Metaverse, from the perspective of the technology stack, many subdivision technology modules are in a similar state. If there are breakthroughs in certain core technologies within the visible 5-10 years, the development of Metaverse will enter a new level. Both the user experience and the many landings in the industry, including commercial scenarios, will be extremely exciting. Great promotion. If there is no opportunity for breakthroughs in certain technologies within a visible short period of time, it is possible that the upsurge of discussions on the Metaverse will return to a relatively low state as many users lose or actual technical difficulties.

Sima Huapeng: This year is indeed the first year of Metaverse, whether it is the listing of ROBLOX or the name change of Facebook. However, I think an important event this year is that Google released a product called STARLINE (English accent). It can reconstruct the video conference of two people at the end, and solve the transmission problem of the video conference in this way. It is equivalent to when the two of us were chatting, it was reconstructed by understanding the semantics of my image and passing it to the other side. I think this is a very important technological milestone for the realization of Metaverse in the future. The current Metaverse, whether it enters Roblox or other platforms, is pixel-level things, and the overall details are very poor. This is a big limitation in current technology. Looking back at the STARLINE conference, the effect was very good. A very important core technology in the future Metaverse is similar to this kind of intelligent computing power, which needs to achieve semantic compression, so as to solve such a large-scale online problem. Refer to how humans use semantic compression to transmit images. Our Tang poems can write very beautiful scenery in a few poems and a few sentences. In the future, when humans see this poem, they will restore the scenery in their brains. Come out, this is a very clever point. The META we build needs to learn this kind of intelligent computing power based on semantic compression.

The technology of STARLINE is similar to our technology stack. We believe that in the future Metaverse where millions of people are online, or tens of millions of people are online, there must be a core technology, which is semantic compression. You can see that Microsoft has recently implemented a large-scale Metaverse in its video conferences. In fact, a big role is to reduce bandwidth, because in this process, a large number of performances and behaviors are actually semanticized. After semantics, they will be compressed and transmitted. Go to the other side and show it in real time. This is a very important node for Metaverse to break through in the future. It is also a node we have been doing in the entire technology investment field. Otherwise, it would be impossible to achieve so many people online at the same time.

You can see that there are many high-resolution games that support dozens of people online at most. If you want to do a concert of tens of thousands of people and really support so many people online at the same time, the refined modeling will encounter very big problems. If AI can be used for semantic compression, for example, telling you that there is a tree there, which is rendered in real time using computing power on the end, instead of rendering it through data transmission, this is a very big technological change. This technology will disrupt and challenge the future cloud computing and cloud rendering.

Jin Ming: Mr. Guo, what do you think is the biggest potential challenge?

Guo Cheng: STEPVR is a hard-core technology company. Just now, the two of you were talking about a technical challenge and a technical challenge. I want to say something different. On the contrary, in fact, STEPVR includes my own development over the years. We actually don’t have that strong sense of fear for a stronger technology. We do the longest for a stronger technology. It took seven years to break through the single-point technology. It took seven years to do this. Starting with parts and components, we have been mass-producing principles, algorithms, and final experiments, and finally achieved Airbus, to make it. For aircraft modeling, the equipment provided by us is used.

In the actual process of doing this, various difficulties will be encountered. When doing VR or Metaverse, the biggest difficulty for a company is that it requires a lot of upstream and downstream links and single-point technical links. . However, you can finally be sure that what you are doing is correct. After you finish all the technical aspects, go and sell to consumers and sell to the market. Only then can you verify whether this thing is correct or not. Extremely scary. You will feel stage fright when you are doing it, because we are not sure about the direction and product we are doing on the way.

Although we have sufficient confidence that this matter is right, there is still a wrong process. This process is actually the most painful and the one that everyone finds the most difficult. It’s like me going to develop an atomic bomb. Only at the last moment, the intensity of the explosion is indeed the crack of the atomic bomb, and I am sure that this thing is done right. . Just like this year, when we saw our consumers spend 400 to 500 yuan per person in the store, and 60% of consumers who have repeatedly spent more than 5 times, they feel relieved. Because countless technical points have been built in the past nine years, this industry has no upstream and downstream. If you want to make the entire chain complete, you have to make all the chains and finally sell them.

I think in an innovation, especially technological innovation, when the two words “technology” and “innovation” are put together, the difficulty of this matter actually lies in the uncertainty of the future, and its fun is also You bet that the certainty is right, and then you keep moving in this direction, and finally you really do it in this direction. When you see that it is finally completed and right, the degree of inner joy is satisfied, although the process is extremely difficult, But at the same time can get the greatest joy.

Zhuang Minghao: Let me add that the popularity of “Metaverse” today has to some extent doubled everyone’s confidence in this matter. Without these discussions, many participating companies might not have such firm confidence. It is precisely because more and more people are participating in it, believing in the Metaverse, and the scope of consensus is getting wider, that will allow everyone to move forward firmly in that direction. This kind of confidence is very important. Entrepreneurs need it, ordinary people need it, and the industry also needs it.

Jin Ming: Thank you. We just said that this year is the first year of “Metaverse”. There was a landmark event in this first year-Facebook changed its name to Mata. Zuckerberg spent more than an hour explaining to people all over the world what Meta is. I don’t know if you have read it and how do you feel after reading it? I don’t know what advantages and disadvantages other startups in this field have when they face competition. Any suggestions?

Sima Huapeng: It took Zuckerberg more than an hour to announce to the world that he changed his name to Meta and explain what Meta is. I think that an old organization like it is upgraded to a new organization, and an organization of this size, generating this level of genetic change, is still very challenging as a whole. As an entrepreneur, I have a deep experience. A start-up company like Silicon-based Intelligence has made many changes in the four years since its establishment. I have encountered considerable challenges in leading these changes internally.

Many entrepreneurs have read “The Innovator’s Embarrassment”, this level of self-subversion is still quite a challenge for large companies. In particular, several key elements of Metaverse: NFT, DAO, WEB 3.0, etc., for their highly centralized organizations and platforms, there is a low-level conflict with these core elements.

I think it should not be so easy for a large organization like Facebook to overthrow its current advantages, come back on the road, and start again. Of course, I also wish Facebook, dare to subvert your own company, it is a great company.

I think that new startups have no burdens and belong to a new species. In this process, they have a lot of inherent subversive capabilities. In particular, I very much agree that technology is the core of the Metaverse, and many innovative technologies come from small companies. Small team.

We have made a lot of technological breakthroughs in the field of AI, especially like this year we have made many innovations in the technology of digital humans and virtual humans. In the process of commercialization, you will see many interesting technological breakthroughs. point.

Why do we have confidence in this track? It’s because we have a lot of products that are co-created with many large banks. In other words, banks have been laying out “metauniverse” for a long time. They cloned their own account managers in large numbers and exported virtual customer service and other “metauniverses”. Serve”. They have used hundreds of millions of users to polish a lot of technology with us, which has become a certain first-mover advantage for us.

Of course, among these, I also want to talk about the challenges. Metaverse must be a globalized platform. In today’s general environment, whether we should go overseas to do business or focus on the local area, and there will be a lot of uncertainty in the process. These challenges will exist for a long time in the future.

Guo Cheng: I don’t know if there are BAT or other giant companies today. If so, how offended it is. In fact, looking at the breakdown of giants, the reason why a giant is called a giant is because of the large number of people, the money, the long journey, and the accumulated advantages. If you look at it in the field of metaverse, first of all, look at how long it takes to go does not work in this matter. As Sima Huapeng said just now, it has already ran for a hundred meters, but it’s not actually the one hundred meters. Mi is just fine. During this period of time, if the Internet company has already launched a long distance on the mobile Internet and PC Internet, but in fact, this matter involves a new business format generated by a new terminal device. When new business formats and new terminal equipment produce a new ecology, we usually see a startup company, a new company, a new life form, and that’s why it’s not 100 meters on both sides, many At that time, one hundred meters seemed to be one hundred meters, but they were facing each other, not one hundred meters in the same direction.

As for the second thing, if we imagine that all five senses are restored, it is a matter of hard-core technology. If we compete with hard-core technology, it is not actually a matter of comparing who has more soldiers, it is a matter of comparing who has more heroes. A single-point technology is the most efficient if it can be done by a group of 3~5 people. If it can be done, 3~5 people will do it, and it will be the most efficient; if it can’t be done, it’s the most efficient. This is the reason why it can’t be done.

If we look at a new ecology, I usually talk to the team, and usually I also talk to some friends, especially a new ecology, especially related to the ecology of new devices and a new terminal. If you work hard The most terrifying thing about subsidizing it is not that the money you subsidized may be spent for nothing. It may be because you subsidized it, and you have subsidized it from a computing platform into a small toy for the household. You become a small toy through the subsidy. In a different market, if the market for two or three hundred dollars is a market for small household toys, it is easy to buy two or three hundred dollars, and you don’t need to think about it when you buy it. This is the most terrifying thing. If a giant strongly subsidizes this matter, the scariest thing is not to subsidize the money, but because of the time and technical cost of the subsidy.

Starting from the start of the entrepreneurial team, a new type of terminal equipment, like I make every day in STEPVR, the decision of what this equipment will eventually look like this product will look like, this matter I remember the original Google CEO said: “All great products All were born in small teams”. Because when great products are born, for example, the first generation of Apple mobile phones may not even be able to make calls when they are developed internally. All these things are in by early work. The huge organization is not an advantage, but a disadvantage. , This is our way of looking at giants.

Of course, as a start-up company, when you see that giants have these disadvantages, you are not afraid of them. At the same time, you have to charge against a city wall for ten years, and work hard against one place. Don’t change, but continue to fight. , Work hard enough to seek truth from facts. Because all your resources are limited, money is limited, and people are limited. When you take advantage of this advantage, I feel that the competition of giants on this track is not a competition with huge potential energy differentiation, but a head-to-head, or even a start-up. The team also has more advantages in the competition.

Jin Ming: There are also many friends in the investment industry in the offline and online audiences today. The three companies have also taken investments. You know investors and the investment industry very well. On the topic of “Metaverse”, can you give us some suggestions for the investment industry? Which areas and what kind of players should you focus on?

Sima Huapeng: I am a firm believer in “Metaverse”. For this track, I hope to use the words in the “Tao De Jing” to describe, “The corporal hears the truth and laughs. It is not the truth not to laugh.” Recently, everyone is laughing at everything that carries “yuan”. Many listed companies release “Metaverse”-related things to bring the stock price rhythm. This is normal.

For any new things, in this rapid development process, there must be a bubble period. In this bubble period, some better companies will eventually come to the fore. In this bubble period, we think that it is worthwhile for everyone to look at some relatively good targets, such as VR companies and some companies that do virtual people, digital people, and silicon-based life, as well as many hard-core companies that do underlying engine algorithms.

Guo Cheng: I think that when any technological innovation appears, especially when an industry is unexplainable in the initial stage, and there is a certain bubble in the initial stage, I hope to start with the end when I start a business. First think about what will happen in the end, and at what time period is the probability that this event will happen. If this event happens, something else will definitely happen in the surrounding area. Let’s pursue a certainty and do it. Enterprises are also pursuing certainty.

No matter how you talk about “Metaverse”, you must have a “gate” (the entrance to the Metaverse), so I have invested in “gate” for a long time. I think it is certain to make this “gate”. It’s a bit late to start a gated company until today, because there are already people like me running ahead. But let’s imagine that if there is such a door, one of the points involved is “data compression”, and “data compression” is something that the company that does the door will not do; and it involves “data compression”. For the problem of “transmission”, the company that does the door hopes to have a tool to help it solve the problem of “data transmission”, such as my company.

Based on the above-mentioned situation, will there be some similar opportunities in the early stage, will there be early Internet cafe management software, Internet cafe cash register software, and the overall ranking of Internet cafes. After this business format appears in Internet cafes, there will be opportunities to organize the competition industry. . In fact, if these things are certain to happen, Mr. Jin said just now that he should not talk about this matter around his company. Put aside the hard technology and put aside the door, if you let me jump out of the hat I wear and enter into new things. , I will seriously think about it, and carefully review the history of science and technology. When technology is facing this point in time, what will happen in two or three years, to do that thing, to invest in that thing.

Zhuang Minghao: I was also an investor before. I just left the investment industry for half a year. At this point in time today, Chinese first-line investors are very hardworking and diligent, so at this point in time, a group of companies that conform to the concept of “Metaverse” have been seen by everyone. Before I left the investment industry, I was looking at projects in this direction. When I left, I wrote a PPT. On the last page, I wrote four sentences: First, “Metaverse” is a “frame”; Second, sell dog meat by selling sheep’s head. Most of the companies that I see today are actually selling dog meat by selling sheep’s head. Third, Meta is a way of thinking. We put aside those noisy discussions. Whether we are talking about the evolution of technology, changes in business models, or looking back on what happened in history, we can take today’s The matter of Meta at the time point was used as an idea to guide this decision. The last sentence is a correct nonsense, and most companies in this cycle will become “cannon fodder.”

Jin Ming: Thank you three for their wonderful sharing. We are full of expectations for “Metaverse”. Maybe the 36Kr conference in the future can be held in the “Metaverse”. We look forward to this day soon. Thank you!

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