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寒武纪板块,寒武纪估值

发布时间：2023-12-06-00:02:00 来源：网络区块链知识寒武纪区块

寒武纪板块,寒武纪估值

近年来，寒武纪板块一直是投资者关注的焦点，特别是它的估值。寒武纪板块是一个广泛的概念，涵盖了投资者可以投资的众多资产，其中包括股票、基金、债券、期货等。

寒武纪板块的估值是基于众多因素的，包括公司财务状况、投资者的风险偏好、市场行情等。其中，公司财务状况是估值的重要参考，因为它可以反映出企业的发展情况，以及企业未来的发展潜力。

另外，投资者的风险偏好也是寒武纪板块估值的重要因素，投资者的风险偏好是指投资者愿意承担的风险水平，可以从投资者的投资行为中反映出来。投资者的风险偏好越高，寒武纪板块的估值就越高。

最后，市场行情也是寒武纪板块估值的重要因素。市场行情反映了市场对资产价格的反应，如果市场行情良好，资产价格就会提高，进而提高寒武纪板块的估值。

总之，寒武纪板块的估值是一个复杂的过程，其中包括公司财务状况、投资者的风险偏好和市场行情等多个因素。因此，要想更好地把握寒武纪板块的估值，投资者需要综合考虑这些因素，才能更好地把握投资机会。

请查看相关英文文档

『一』Which majors at the University of Science and Technology of China are most worth studying

Registration for Grade 18 first-year students.

I dare not say the best among the best, but we are second to none in the biology major.

First of all, our conditions are excellent.

Let’s take a look at the statistics from Qingta:

(Incomplete statistics, but the School of Health and Science has almost the highest proportion of girls. What are you waiting for, why don’t you major in biology?)

『二』The “Cambrian Explosion” of the Internet of Things is coming

■Views in this issue

The Internet of Things is regarded as the third wave of the information industry after computers and the Internet. Driven by technological development and social needs, the "Cambrian Explosion" of the Internet of Things is coming.

Currently, the enabling role of the Internet of Things in the digital transformation of various industries has been very obvious, and the meteorological industry is also one of the beneficiaries. The development of the Internet of Things will eventually completely change the meteorological industry. With the rapid increase and interconnection of Internet of Things devices, the channels for obtaining meteorological data will be broadened as never before, and the quality and accuracy of meteorological observation data will also be unprecedentedly improved.

The Internet of Things is inseparable from the development of artificial intelligence and cloud computing. The three are like the three keys that open a treasure. Only when they are turned at the same time can the door of the treasure be opened. Blockchain puts on an "armor" for the Internet of Things to prevent weather data from being tampered with or stolen by hackers.

■This issue’s guest: Zhang Ming, senior engineer of the Meteorological Observation Center of the China Meteorological Administration

Chen Zuan, deputy general manager of Huafeng Meteorological Media Group

Anhui Provincial Meteorological Bureau Li Jianbang, Senior Engineer of the Office of Weather Modification

542 million years ago, there was a period of time when a large number of higher organisms appeared, and species diversity increased explosively - this was the Cambrian Explosion of Life . As for the cause of the outbreak, some scientists believe that it is because certain creatures (such as the famous trilobites) evolved eyes. After having eyes, these creatures began to chase and prey on other creatures. More importantly, the eyes, as a kind of sensor, can collect a large amount of data. As the amount of data increases, the brain's learning cycle will accelerate, thus further promoting subsequent biological evolution.

The Internet of Things is regarded as the third wave of the information industry after computers and the Internet. From an evolutionary perspective, the Internet of Things is actually the "eyes" evolved by human society. The "2019 Global Internet of Things Development Research Report" released this year by "BI Intelligence" pointed out that it is expected that by 2025, the number of global Internet of Things devices will exceed 64 billion, much higher than the 10 billion in 2018 and 90 billion in 2017. 100 million. It is predicted that by 2035, there will be more than 1 trillion IoT devices capable of storing sensors in the clouddata.

The "Cambrian Explosion" of the Internet of Things is coming.

The past and present of the Internet of Things

The Internet of Things, as the name suggests, is the Internet where things are connected. It is somewhat incredible to say that the concept of the Internet of Things originally came from a sell-out lipstick.

In the 1990s, when MIT professor Kevin Ashton was working as a brand manager at Procter & Gamble, he discovered that a brown lipstick was always out of stock, but there was actually one in stock. Quite a few. So he began to think: If a wireless communication chip using radio frequency identification technology (RFID) is built into the lipstick packaging, and there is a wireless network that can receive the data from the chip at any time, then retailers can know at any time What products are on the shelves and restocked in a timely manner. The concept of "Internet of Things" was thus proposed, and Kevin Ashton was therefore called the "Father of the Internet of Things."

RFID is one of the core technologies of the Internet of Things, and its earliest prototype appeared during World War II. At the time, the British Army used radio transmitters coupled with radar to identify enemy and friendly aircraft. After 2000, RFID technology was widely used, and the Internet of Things based on logistics and supply chain management began to be built. "When we need to connect all 'things' together, an important issue is how to determine who is who, and radio frequency identification technology is to solve the 'uniqueness' problem and label each 'thing' with a unique identity tag." Zhang Ming said.

In addition to identifying each other, objects must also be able to collect and exchange data, which requires mention of sensors. This term may sound a bit unfamiliar to you at first, but in fact there are sensors everywhere around us, such as weather satellites, surveillance cameras, drones, etc., which can all be regarded as sensors that collect data. In addition, there are a large number of sensors on mobile phones, such as GPS, gravity sensors, infrared sensors, cameras, ambient light sensors, etc. In this sense, a mobile phone is actually an IoT integrated device. In the future, smartphones with rich built-in sensors can function as measuring instruments, collecting data such as temperature, atmospheric pressure, and atmospheric tides.

In addition to radio frequency identification and sensor technology, the Internet of Things also includes intelligent processing and embedded technology. According to Zhang Ming’s analysis and judgment of future trends, the rapidly developing 5G technology will become a major milestone in the history of the development of the Internet of Things, allowing the “Internet of Everything” to fundamentally get rid of the constraints of the network environment and greatly reduce the construction cost of the Internet of Things. , and make the service level of the Internet of Things improve by leaps and bounds.

In short, the real Internet of Things is a network-connected sensor that automatically captures and analyzes data and makes decisions on its own. This requires machines to have the ability to learn and make decisions independently, and the entire process no longer requires human intervention.

Meteorology + Internet of Things

China InformationThe "2018 Internet of Things White Paper" released by the Institute of Information and Communications Technology pointed out that the scale of the global Internet of Things industry increased from US$50 billion in 2008 to US$151 billion in 2018. Under the influence of the rapid growth in the number of connections and Metcalfe's Law, a new round of applications of the Internet of Things in various industries has begun, and the growth rate of implementation has accelerated. The enabling role of the Internet of Things in the digital transformation of various industries has become very obvious.

As an applicator of big data, the meteorological industry has accepted the empowerment of the Internet of Things early. In some developed countries, IoT technology has been widely used in meteorological monitoring and early warning, weather forecasting, meteorological information transmission and meteorological services. For example, the United States has applied IoT technology to achieve fully automatic ground observation. In June 2012, the National Weather Service of the United States successfully developed a wireless emergency warning system using Internet of Things technology. The system can determine the affected area based on the path of severe weather, thereby searching for signals from all mobile phones in the area and automatically matching the sending group, which not only improves the accuracy of early warning, but also avoids information disturbing residents. The Japan Meteorological Agency built an earthquake sensing and early warning system based on the Internet of Things in 2007.

The Korea Meteorological Administration uses RFID technology to monitor weather changes. By deploying wireless sensors, it establishes an automatic weather system to monitor temperature, air pressure, humidity, wind, precipitation, snowfall, visibility, clouds, Real-time monitoring of surface and underground temperatures and other elements and tracking of weather systems have effectively improved meteorological service capabilities and support levels.

"In China, Internet of Things technology has been applied to meteorological information monitoring, meteorological information release services and professional meteorological services, and some application systems and products have been initially developed." Li Jianbang said.

The Internet of Things has fully unleashed the potential of objects such as mobile phones, vehicles and even umbrellas, making them a means of obtaining weather data. Sensors of all kinds will soon be everywhere, which means weather data will be everywhere. "The development of the Internet of Things will eventually completely change the meteorological industry." Zhang Ming said that with the rapid increase and interconnection of Internet of Things devices, the channels for obtaining meteorological data will be broadened as never before, and the quality and accuracy of meteorological observation data will also be improved. Unprecedented improvement.

Internet of Things and Artificial Intelligence, Cloud Computing, Blockchain

No matter how powerful a person is, he can only observe certain aspects of things, and his observations The scope is mainly limited to the area that can be reached by human senses. In order to obtain a macro perspective or even a "God's perspective", we need to continuously expand our perception capabilities and let our "tentacles" continue to extend. One of the biggest functions of the Internet of Things is to give human society a "God's perspective", which greatly expands human perception and opens up a new dimension of information collection.

If the Internet of Things is the "eyes" evolved by human society, then artificial intelligence is the "brain". The current total amount of meteorological data is approximately 23PB, and the amount of data generated every day alone isUp to dozens of TB. In fact, meteorologists are overwhelmed by such a volume of data, and there is no time to explore the value of much data. Just imagine, when the number of IoT devices reaches tens of millions or even billions, the amount of data they generate will be unimaginably huge, and the amount of previous data cannot be compared to it. At this time, using artificial intelligence to process sensor data almost becomes the only option. In addition, if such a massive amount of data is all deployed on the business end or locally, the cost will increase exponentially as the volume of relocated data doubles. Business units that are already overwhelmed by too many systems will be even worse. Cloud computing can deploy all resources required by business systems in the cloud, and artificial intelligence can process massive meteorological data directly on the "cloud".

More importantly, fed by massive meteorological data, artificial intelligence will grow at an astonishingly fast rate. By then, "super artificial intelligence" may appear, and this technology will become super intelligence. Eventually, the intelligence of machines will exceed the collective intelligence of humans.

"The development of the Internet of Things, artificial intelligence, and cloud computing are inseparable. The three are like the three keys that open the meteorological treasure. Only when they are turned at the same time can the door to the treasure be opened. Simply put the objects The meaning of connection is very limited. Only by making this connection intelligent can the potential of the Internet of Things be fully released," Zhang Ming said.

However, one of the biggest problems currently faced by the Internet of Things is information security. Once it is invaded by hackers or viruses, the consequences will be disastrous. Fortunately, blockchain with high transparency, traceability and tamper-proof characteristics provides a good solution to this problem. Once the meteorological data is uploaded to the chain, the time and content of the upload will be open and transparent, and once it is uploaded to the chain, it will be difficult to tamper with. The content will gradually become legally binding, so it can be traced to the source and held accountable. This will facilitate data processing for different institutions. Exchange and sharing provide a basis for trust, and technology is used to solve trust and security issues.

"The combination of the Internet of Things and blockchain technology will produce the blockchain Internet of Things, and the blockchain Internet of Things can significantly reduce security risks." Chen Zuan said, more importantly, blockchain As a transaction processing tool, it is a revolutionary innovation for the Internet of Things, and many human-computer interactions will be replaced by rules-based interactions between machines. In addition, a successful IoT solution must have a strong value proposition. Each device in the IoT can act as an independent business entity, sharing capabilities and resources with other devices at extremely low transaction costs. It is conceivable that through technologies such as blockchain-based smart contracts and smart ledgers, we can turn every observation device in the meteorological Internet of Things into a transaction point and economic value creation point between owners and users. The series of changes promoted by the combination of IoT and blockchain technology will make the physical world as fluid, personalized and efficient as the digital world.

『三』 Analyze how to provide richer computing power from the perspective of computer hardware design

Since the Internet in the 1990sSince the birth of Internet technology, new generation information technologies such as mobile Internet, cloud computing, big data, and artificial intelligence have continued to develop and gradually mature, and have increasingly penetrated into all areas of the economy and society. The global outbreak of the new crown epidemic in 2020 has once again Further accelerating this trend, the digital economy has become a new stage of world economic development, that is, the world's economic development has entered the era of digital economy.
The Party Central Committee, the State Council and governments at all levels attach great importance to the development of the digital economy. Since the promulgation of policies such as "Made in China 2025" and "Action Outline to Promote the Development of Big Data" in 2015, the central government and local governments at all levels have successively launched a series of measures for the development of the digital economy and supported six regions including Xiongan New Area, Zhejiang, and Fujian Build a national digital economy innovation and development pilot zone, and support Beijing, Shanghai, Shenzhen, Xi'an and other places to build national new generation artificial intelligence innovation and development pilot zones. In 2020, the country further proposed to strengthen the construction of new infrastructure and clearly included data as a new factor of production in policy documents. These will lay a more solid foundation for the development of the digital economy.
In the era of agricultural economy, land, water and tools are key resources. In the era of industrial economy, energy, raw materials, machinery and equipment, and production processes are key resources. So what are the key resources in the digital economy era? The key resources in the digital economy era are data, computing power and algorithms. Data is the raw material of the digital economy era. Data is continuously generated in various economic activities. More and more organizations regard data as an asset. At the policy level, data has become a new type of production factor. Computing power is equivalent to machine equipment and productivity in the digital economy era. Data products or applications for various scenarios are inseparable from the processing and calculation of computing power, and the demand and requirements for computing power are getting higher and higher. Algorithms are a production process in the era of digital economy. Algorithms for different application scenarios and fields such as images, speech, and natural language processing are also emerging in an endless stream. The improvement and improvement of algorithms can increase the efficiency of computing power and mine more data value.
This article focuses on analyzing the content of computing power, introducing the overall situation of the computing power market, the characteristics and trends of current computing power development, and key computing power supply methods.
1. The demand for computing power is growing rapidly, and investment in computing power has multiple economic values
Computing power is computing power. The core is CPU, GPU, NPU, MCU and other types of chips. Specifically, it is composed of computers, servers, high-end computers, etc. Performance computing clusters and various smart terminals are carried. In the era of digital economy, the explosive growth of data, the increasing complexity of algorithms, and the increasing demand for computing power. Computing power is the infrastructure and core productivity of the development of the digital economy and plays an important role in economic development. According to the "2020 Global Computing Power Index Assessment Report" jointly released by IDC and Inspur, every time the computing power index increases by 1 point on average, the digital economy and GDP will increase by 3.3‰ and 1.8‰ respectively.
With the continuous development of the digital economy, the key to the digital economy such as artificial intelligence, Internet of Things, blockchain, and AR/VRThe demand for computing power in the field will also explode. According to the report "Ubiquitous Computing Power: The Cornerstone of an Intelligent Society" released by Huawei, it is expected that by 2030, the total demand for computing power from artificial intelligence, Internet of Things, blockchain, AR/VR, etc. will reach 33,900 EFLOPS, and will jointly The computing power is required to be anytime, anywhere, on demand, and any object (Anytime, Anywhere, AnyCapacity, Any Object). Among them, the artificial intelligence computing power will exceed 16,000 EFLOPS, which is close to half of the overall computing power demand. The GPT-3 model developed by OpenAI involves 175 billion parameters and requires 3640PFLOPS of computing power. Currently, there are also domestic research teams following up on the research of the Chinese GPT-3 model.
Computing power investment has multiple economic values. It not only directly drives the development of the server industry and upstream chip, electronics and other industries, but also the value of computing power will drive the transformation, upgrading and efficiency improvement of various industries, bringing greater indirect benefits. Economic Value. According to the report "Ubiquitous Computing Power: The Cornerstone of an Intelligent Society", every US$1 invested in computing power can drive about US$4.7 in direct industrial output value growth in the fields of chips, servers, data centers, smart terminals, high-speed networks, etc.; in the transformation of traditional factories In the scenario of smart factories, every US$1 invested in computing power can increase the related output value by US$10.
2. Characteristics and trends of computing power development
With the increase in data size, algorithm complexity, and application diversity, the requirements for computing power are becoming higher and higher. The current development of computing power shows three characteristics. First, a variety of architectures are blooming. Second, centralized computing power and edge terminal computing power are developing rapidly. Third, dedicated computing power is becoming increasingly popular.
In recent years, multiple computing power architectures have coexisted and developed rapidly. In the past, the computing power of the x86 architecture had an absolute advantage. Intel and AMD basically monopolized the X86 computing architecture market. Haiguang Information obtained the authorization of the x86 architecture through cooperation with AMD. Nowadays, the share of computing power based on the ARM architecture continues to expand, especially on the mobile terminal. ARM architecture computing power has become mainstream. Huawei HiSilicon and other major products are based on the ARM architecture. In addition, Tianjin Feiteng's products are also based on the ARM architecture. As the demand for computing power such as artificial intelligence continues to increase, the demand for GPU computing power continues to increase. Nvidia has an absolute advantage in the GPU computing power market, and AMD has also taken a share of the pie. The superimposed demand for Bitcoin mining computing power has led to the increase in GPU computing power on the market. Cards are in short supply. In recent years, several GPU entrepreneurial teams have emerged in China, such as Cambrian, Denglin Technology, Suiyuan Technology, etc. In addition, computing power such as Risc-V, integrated storage and computing architecture, and brain-like architecture are also emerging. However, these computing powers have just started and require a relatively long cultivation process in terms of application ecology and other aspects.
Centralized computing power and edge terminal computing power are developing rapidly. As the 7nm process becomes increasingly mature, the computing performance of CPUs, GPUs and other applications based on the 7nm process has been greatly improved.Improvement, the current 7nm process computing power is mainly centralized computing power, and the processor computing power part of mobile smartphones has also adopted the 7nm process. TSMC's 7nm process has achieved scale and has begun to tackle the 3nm process; SMIC's 7nm process is still in the process of technical research. With the continuous increase in 5G and IoT applications, the demand for computing power in edge terminals is increasing, especially in fields such as autonomous driving, smart security, and smart cities. Horizon autonomous driving chips have been mass-produced, NVIDIA Jetson products are widely used in embedded terminal products, and other edge terminal chip startups targeting specific fields are emerging in endlessly.
Dedicated computing power for specific fields such as images and speech is becoming increasingly popular. On the one hand, the chip process is getting closer to the limit of Moore's Law. On the other hand, there are the power consumption requirements of IoT smart terminals. Special chips for specific fields are emerging in an endless stream, and more and more giants are involved. Google's TPU has computing power customized for machine learning, Alibaba's Hanguang NPU has computing power customized for neural networks, Xilinx's FPGA computing power, network research and development of Honghu chips for the voice field, as well as Yunzhisheng and SiSheng Bichi, Tanjing Technology, etc. have also launched smart voice-related chips, and Beijing Ingenic, Yuntian Lifei, Yitu Technology, and VeriSilicon have launched dedicated chips related to vision and video processing.
3. The computing power supply is mainly based on public cloud and self-built computing power, supplemented by various methods
The current computing power supply mainly includes public cloud, supercomputing center, self-built computing power and local computing power. force center, etc. Among them, public clouds and self-built computing power centers are the main sources of computing power, and various methods such as supercomputing centers and local computing power centers complement each other.
The supply of large-scale computing power is usually carried through data. The continuous increase in new data centers will drive the supply of computing power resources to continue to expand in the future. According to statistics from the China Electronic Information Industry Development Research Institute, the number of data centers in China in 2019 was approximately 74,000, accounting for approximately 23% of the total number of global data centers, of which large data centers accounted for 12.7%; data center racks in use The scale reached 2.658 million, a year-on-year increase of 28.7%; the scale of data center racks under construction was approximately 1.85 million, a year-on-year increase of approximately 430,000. Since the country has vigorously supported the construction of "new infrastructure" in 2020, data centers have become an important part of the "new infrastructure" in areas with computing power demand such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Pearl River Delta, as well as areas with concentrated energy resources in the central and western regions, such as Inner Mongolia, Shanxi and other countries are promoting the construction of new large and medium-sized data centers.
With its stability and ease of use, public cloud has become the preferred method of computing power for many enterprises, especially small and medium-sized enterprises. According to incomplete statistics, the total number of Alibaba Cloud servers is close to 2 million, and the total number of Tencent Cloud servers exceeds 1.1 million. No exact data has been found on the total number of servers from cloud vendors such as Huawei Cloud, Network Cloud, JD Cloud, and AWS. It is conservatively estimated that servers from various cloud vendors The total number also exceeds 5 million units. And after the country announced strong support for the "newAfter the construction of "infrastructure", Tencent announced that it will invest 500 billion yuan in the next five years for the further layout of new infrastructure projects such as cloud computing and data centers. Alibaba Cloud announced that Alibaba will invest 200 billion yuan in the next three years for the construction of future-oriented data centers. and major core technology research and development, the network announced that it expects the number of network intelligent cloud servers to exceed 5 million by 2030. Major cloud vendors continue to increase investment in computing power, and the supply of public cloud computing power will be more abundant.
Self-built computing power has become the preferred method of computing power for governments, large enterprises and other organizations concerned with security due to its security and autonomy. Governments, banks, universities and central enterprises, etc. usually build or lease data centers through self-built or leased data centers. Methods to build their own computing power to meet the computing power needs of their various businesses. Many Internet companies choose to use public cloud services at the beginning, but when their scale develops to a certain level, they usually start to build or lease data centers to build their own computing power. Power. Some other types of enterprises are unwilling to put data and business on public clouds such as Alibaba Cloud due to security, business confidentiality and privacy considerations, and often choose to build their own computing power by hosting servers. , smaller enterprises can use it locally. In June 2020, Kuaishou announced an investment of 10 billion yuan to build its own data center, planning to deploy 300,000 servers. Large Internet companies such as ByteDance are continuing to increase the construction of data centers.
Supercomputing centers and local computing power centers are effective supplementary methods for computing power supply and are suitable for application fields with large-scale computing needs. As of 2020, there are eight national supercomputing centers approved by the Ministry of Science and Technology, namely The National Supercomputing Center is Tianjin Center, Guangzhou Center, Shenzhen Center, Changsha Center, Jinan Center, Wuxi Center, Zhengzhou Center and Kunshan Center. The main computing power resources of the supercomputing center are mainly CPUs. The newly built supercomputing center and the update and upgrade process will supercompute. The computing center has gradually increased its heterogeneous GPU computing resources. The supercomputing center has better met and compensated for the demand for computing resources in scientific research in universities, especially in the fields of scientific computing such as industrial simulation, biological information, new materials, meteorology, and oceanography. . Major domestic provinces, cities and regions have basically invested in the construction of local computing centers, focusing on serving the needs of local scientific research and industrial development, such as Taiyuan, Suzhou, Fujian and other places. At present, the scale of local computing centers is usually not large, and the number of computing nodes is Most of them are between 200-500, mainly serving the computing needs of local meteorology, industrial simulation and biological information. In addition, since 2020, artificial intelligence computing centers are being built in Wuhan, Nanjing, Zhuhai, Xuchang and other regions, which will be used to a certain extent. to make up for the current shortage of large-scale AI computing power.
Conclusion
As the infrastructure of the digital economy, computing power is also the productivity and engine of the digital economy era. It has increasingly become the key to national competitiveness in the digital economy era. Reflection. According to the "2020 Global Computing Power Index Assessment Report" jointly released by IDC and Inspur, the computing power construction of China and the United States is in a leading position in the world. The computing power of the United States is in terms of scale, efficiency, application level, etc.are ahead of China. In addition, from the perspective of computing chip supply, U.S. companies such as Intel, AMD, and Nvidia account for almost the majority of the global market share. It can be seen that China still needs to increase investment and strengthen research and development in the construction and development of computing power, and make up for its shortcomings while giving full play to its advantages, thereby laying a more solid foundation for the long-term development of the digital economy.

『四』What substantial impact does the digital economy have on individuals?

Software

A study by IDC (International Data Corporation) said that services Software will grow at an annual rate of 90%. By 2004, the software market value will reach US$7.8 billion. In the next 12 months, application software will transform from personal computers to network servers and online application services.

Information

Digital Economy
Digital Economy
It is simply the greatest wealth for online content providers, but they must make life real Tell the readers. On behalf of many Internet content service providers (ISPs for short), most online information is free, which is a serious challenge to ISPs. In order to cope with this challenge, ISPs must combine the Internet industry with traditional industries, and must work with technology experts to protect their products.

Education

For children and adults alike, it is a rapidly growing factor in the digital world, and educational technology will create significant changes in the coming years. SIIA said: "ISPs and Internet companies are shifting their business models to B2B (here, of course, it refers to ISPs or other Internet companies providing school education and corporate training) and B2C (referring to ISPs and other methods that provide part-time training and distance correspondence courses)."

Customer Rights

SIIA said that customer rights have also become an important factor affecting the digital economy and promoting its development in the past few years. Now this right must be expanded and must be To protect private issues such as user information and addresses, it is necessary to discover the true needs of customers. E-commerce sellers must learn more about the strict personal privacy protection policies provided in the next 12 months.

Business Digitization

In the past 10 years, almost all industries in the United States have become digital. From accounting to warehousing, from personnel to scheduling, digital technology is everywhere. Through this digitalization process, American companies have also tasted the benefits. The digitalization process of American companies will continue in the next 12 months, and B2B will lead the way.

Digital Economic Policy

Of course, with so many companies pouring into the digital economy, they must have clear industry regulations, especially in the areas of personal privacy and e-commerce taxation. on a question. Without clear assessments and recommendations, the future of the digital economy can only remain in the hands of policymakers, not those who willThe digital economy becomes possible in the hands of innovators and entrepreneurs.

『五』 Cyclicity - the destiny of all things

When I was studying energy transformation in physics in my first year of high school, I came up with an idea: the earth is evolving according to the coded information of higher-order civilizations. of. Alien civilizations arrive at the earth loaded with information through sunlight, and generate vital signs through energy conversion: light energy is converted into heat energy, and heat energy drives the combination of particle structures. The information programmed in the light waves guides the combination of particles to form a single cell body, which is then combined to form a multi-cell body. Cell bodies eventually form animal and plant bodies (mass energy). Mass energy (such as coal) can be converted into thermal energy and nuclear energy, and then into kinetic energy and electrical energy. The further transformation process of energy is accompanied by the advanced evolution of living organisms. The discovery of energy conversion in both industrial revolutions promoted the further development of mankind.

This period is a long process and a cyclical development of the earth. Among them, the early biological history that experienced the Cambrian explosion of life, the age of reptiles that experienced the age of dinosaurs, and then the age of mammals, and the age of humans... This is also what I imagined when I was studying gravity in high school: the demise of the dinosaurs is Caused by falling meteorites.

That is, the universal gravitation is equal to the gravitational constant times the product of the masses of the two objects divided by the square of their distance. Among them, G represents the gravitational constant, and its value is about 6.67 10ˆ-11 unit N·m²/kg²

Why animals and plants in the dinosaur era were very tall, because the earth’s gravity at that time was relatively small , just like people will grow taller if they stay on the moon for a long time. So relatively speaking, the mass M of the earth has become larger as time goes by. According to the Big Bang theory, the distance r between the earth and the surrounding planets or satellites has also become larger. Slight changes in these two indicators directly cause the gravitational pull of the earth and surrounding planets and satellites to become smaller, which leads to insufficient power to maintain the movement of meteorites around the earth, resulting in meteorites falling and causing the mass extinction of the dinosaurs. Of course, this was just a very simple idea at the time, and I felt that it was in high school that I really knew astronomy and geography, and I was full of curiosity about life and even the universe. I mention this now to explain that the development of life on earth is still inseparable from the development of cosmic cycles. A small abnormal movement in the alien universe is enough to wipe out all species. The development of the earth cannot escape the cosmic cycle. When the Big Bang stops or even collapses, Can the earth still exist in such harmony?

The earth has cycles, and civilizations also have cycles. The four seasons of the year, spring, summer, autumn and winter, the waxing and waning of the twelve months, and the three hundred and sixty-five days of day and night, all set the cycle of the annual cycle of time. When the earth's ice age intensified, the severe cold drove the nomadic people to move south, and also intensified the invasion of the southern farming people, thus accelerating the process of dynasty change. Xia, Shang, Zhou, Qin, Western and Eastern Han, Three Kingdoms, Two Jins, Southern and Northern Dynasties, Sui, Tang, Five Dynasties and Ten Kingdoms, Liao, Song, Xia, Jin, Yuan, Ming and Qing, which dynasty was short-lived and which was long-lived were all closely related to the climate of the earth at that time. When the North Atlantic Warm CurrentWhen it is strong, it is also when marine civilization rises and expands. The cycle of time and place affects the cycle of civilization. In China's modern period, Western civilization was in its prime of life in midsummer, while China's feudal dynasties were in their twilight years in late winter. Using twilight years to fight against the prime of life was naturally like a mantis's arm, unable to withstand a single blow. The invasion of civilization is due to the asymmetry of cycles. It is a moment that many ambitious heroes dream of. It is not the fault of civilization and barbarism.

Civilization cycles gave birth to the current economic cycle, from germination, growth, expansion, bubble to decline. During the 40th anniversary of China's reform and opening up, it also experienced the "Black Monday" financial earthquake in the United States and Europe in 1987, the Asian financial turmoil in 1997, and the financial crisis in 2008. It basically follows a ten-year cycle. However, because it had just begun to grow and was relatively closed, it had little impact on China's economy. Even in 2008, it was able to withstand the harsh external environment through flood irrigation policies. Just like human beings as the primates of all things, children of several years old are not afraid of tigers and beasts, and can even play with pythons in their hands. In the early stage of reform, the Chinese economy was able to cross the river by feeling the stones because of the courage of newborn calves who were not afraid of tigers. Roll up your sleeves and work hard, and thrive by taking advantage of the demographic dividend and the Internet technology wave. But now as the population ages, the demographic dividend disappears, and the technological dividend is gradually saturated from teenagers to young adults, the growth cycle of all things in midsummer is coming to an end. Waiting to see the current policy trend, it has basically changed from offensive to conservative to investigate. Risk-oriented economic and financial policies may be the main tone in the next few years, seeking progress while maintaining stability. No wonder many large companies now have to set up government policy research departments. Evergrande recently poached Ren Zeping from the State Council Research Center as chief economist, and his annual salary was posted online; Boss Wang, who earns hundreds of millions at every turn, also sheds tears. Recalling hardships and remembering sweetness shows determination. China's economy has passed its thirties and is entering the age of forty!

The economic cycle directly affects the growth cycle of organizations and individuals. From "Pigs can fly when the wind comes" to "Many pigs are killed when the wind goes away" to "Pigs grow wings and fly freely", the dividends of the times are shortening, the cycle is accelerating, and Moore's Law is accelerating or even failing. Only by transforming from the bubble can we not become cannon fodder and decline, but usher in the germination of higher-order dimensions. The old Fanke learned from Lei Jun's product extreme thinking to make a shirt worth several hundred yuan. It is no longer possible to create a Xiaomi version of Fanke. The product is dead, the industry is booming, and the times are changing too fast. From traditional industries that look for the Internet to increase traffic offline, to new retail that opens offline stores on the Internet and increases the flow of people, online and offline integration, if you can’t enjoy one place, find another place, and if you can’t enjoy both places, play together, and play again If you don’t want to change, look for the third place besides online and offline—blockchain? Parallel universe? Outer space? From satisfying a sufficiently detailed vertical field to meeting all the needs of customers, the super-user mentality can serve the daily necessities, food, housing and transportation of the 5,000 upper limit friends on WeChat. If each person only needs to pay you two yuan per month, can you achieve a monthly income of over 10,000 yuan?

Ten thousandEverything has a cycle, the macro affects the micro, the micro forms a tower of sand, forming a macro of its own, but none of them can escape the fate of higher-order cycle control!

『Lu』In 2019, the artificial intelligence bubble is about to burst

According to the China Academy of Information and Communications Technology, a subsidiary of the Ministry of Industry and Information Technology of China, the global investment in the field of artificial intelligence reached US$43.5 billion in the first half of 2018, of which China's investment scale reached US$31.7 billion, accounting for more than 70%. As of September 2018, the number of artificial intelligence companies in the world was 5,159, including 1,122 in mainland China. Beijing has become the city with the most artificial intelligence companies in the world with 445.

The popularity of artificial intelligence in China is evident.

The crazy influx of capital into the artificial intelligence industry has also spawned a large number of bubbles. An investor pointed out: "Recently I met an underwear manufacturer and he also said that he was an artificial intelligence company. This is a very abnormal phenomenon. Now, the bubble in the artificial intelligence field is particularly serious."

How is China’s artificial intelligence industry developing? What are the manifestations of the artificial intelligence bubble? What impact will the capital winter have on the artificial intelligence industry? Recently, we interviewed Zhou Quan, a partner at Inno Angel Fund, to talk about his views on these issues.

Zhouquan’s Inno Angel Fund mainly focuses on the fields of artificial intelligence, big data, and smart hardware and pan-tech, and has invested in projects such as Infer Technology, Micro-Motion World, Intelligent Traveler, and Future Black Technology.

Text | Zhu Dan

"Bubbles" are bound to exist

When capital begins to pay attention to an industry When the time comes, bubbles will definitely arise.

In the past year or two, artificial intelligence projects have been sought after by capital. We have observed that it is very easy for scientists from scientific research institutes to start businesses and obtain financing. For example, Cambrian from the Chinese Academy of Sciences, and Shenjian Technology co-founded by Wang Yu, a permanent associate professor of the Department of Electronic Engineering at Tsinghua University, etc.

In 2018, Horizon’s Series B financing amounted to US$1 billion. With so many investment institutions investing, there must be their investment logic.

Yu Kai, the founder of Horizon, is the former executive director of the Internet Research Institute. He has a high IQ and research ability. At the same time, he can bring together the top talents in the industry, and Horizon’s valuation is directly proportional to the number of scientists in the company. Although Horizon currently has no product sales revenue, it has sufficient talent accumulation, and the premium offered by the capital market will be several times higher.

The scarcity of top projects also brings a certain premium to Horizon. Capital is willing to give Horizon such a high valuation because it must be convinced that its future market space is large enough. If a great chip company can appear in China in the future, the current leading chip company has a greater probability of success.

Making an investment does not mean that the current value of the project is one dollar, so just give it one dollar. Capital gives it aOne hundred yuan, betting on the possibility that it will become ten thousand yuan in the future.

In my opinion, capital pursuit is also beneficial to the development of the industry. After the Internet bubble burst in 2000, a large number of companies went bankrupt, but China's Internet and Alibaba were created. Whether it is an artificial intelligence bubble or a technology bubble, the winner takes all. After experiencing the baptism of the capital winter, China will definitely precipitate some great artificial intelligence companies in two or three years. This will be very important for our country to shift from real estate resource-based economic growth. It is beneficial to be driven by technological innovation.

In 2019, the artificial intelligence bubble will burst

In the past two years, artificial intelligence projects have received the most financing and the highest valuations. Many VC projects are priced at IPO prices, and even some artificial intelligence angel round projects are priced at Pre-IPO prices, which is extremely unreasonable.

This year the entire industry has entered a capital winter. In my opinion, the artificial intelligence bubble will also burst in 2019, and some artificial intelligence companies with no hematopoiesis capabilities, no landing scenarios, and no revenue will bear the brunt.

As the crown jewel and pioneer in the field of artificial intelligence, autonomous driving has now also reported news of layoffs, shrinkage, and company team discord. Because driverless driving is very difficult and takes a long time to be implemented, there is no income in this process and it depends entirely on capital investment. Investors are now cautious, and autonomous driving will definitely bear the brunt. In 2019, the arms race in the field of autonomous driving will be unprecedentedly fierce.

When projects go for financing now, the industry standard is to cut the valuation in half. (This valuation is relative. The valuation of good projects is very strong, and we will not invest in bad projects no matter how low the valuation is.) Now, the overall project valuations tend to be reasonable. The valuation of excellent and leading projects will not be too cheap, but it is no longer like before, with one price in the morning and one price in the afternoon. If you don’t invest in the evening, you will have no chance. Nowadays, entrepreneurs are more rational, and they also hope to find investors with resources and brand endorsement.

Anxious investors

Whenever the storm comes, investors are also very anxious, fearing that they will miss the opportunity. Therefore, there are also some investors on the market who do not understand artificial intelligence technology and make decisions based entirely on their feelings.

If investors know the operating income and profit of a project and can invest based on the valuation of listed companies, then elementary school students can also invest. Investors will be more likely to succeed only if they invest in industries that they understand and have knowledge about. If you just chase the wind, you will definitely end up with nothing. Just like the blockchain that became popular in 2018, this phenomenon clearly exists.

Inno’s investment in technology projects mainly focuses on three points:

First, God. Technological innovation is different from model innovation, and there are certain entrepreneurial thresholds. Technological innovation requires 10,000 hours of accumulation, scientists have accumulated scientific research, technology and team accumulation in the past five or ten years;

Second, enter the field. If scientists start a business with good technology but no ability to implement it and cannot find practical application scenarios, it is impossible to succeed. Therefore, we hope that in addition to big scientists, big professors, and experts providing technical support in the team, there will also be young people rushing to the front line to do market BD and recruit people. Such a team is more likely to succeed;

Third, Can go to sea. Nowadays, technology competition is global competition, and we hope that entrepreneurial teams should have an international perspective.

Scientists who want to become entrepreneurs need to cross a gap: from technology to products, and products to markets, they need to face many challenges. Inno will help entrepreneurs connect with their lack of industrial resources, government resources, and VC resources, and accelerate the development of projects through in-depth post-investment services.

There are many subdivided areas in the artificial intelligence and big technology industries. If investors do not conduct in-depth research on the subdivided industries, it will be difficult to make professional judgments on the project.

In 2015, we invested in Future Black Technology when it only had an idea and a PPT. Now it has completed three rounds of financing and its valuation has increased dozens of times. When making early investments, most projects are in their infancy, just like the situation of black technology in the future. This requires investors to judge whether the market for the project's products and technologies is imaginative, and whether it can develop into a company with a valuation of billions in three to five years.

A company making low-orbit satellites found us when its valuation was very low. At that time, we did not have enough knowledge and research on this industry, so we missed it in the end. This reminds us that when making early investments, we must remain sufficiently curious about new things, always remain humble and tolerant, and constantly improve our knowledge. If you rashly reject a project because you don’t understand it, you will miss a lot of opportunities.

The era of technological innovation

In the past few years, most of China’s startup companies have been model innovations, and China’s population base Large, coupled with the dividends of mobile Internet, companies such as e-commerce and sharing economy have developed very rapidly in the past few years. However, the Sino-US trade war in 2018 made us soberly aware that China lacks its own core technologies, and many "buildings" are built on the foundations of others.

In terms of general trends, China does need technological innovation:

On the one hand, the costs of foreign companies in China are rising by 100% every year. Escape from China and move to Southeast Asia has become a trend. China no longer has a cost advantage in manufacturing shoes and shirts. We need some innovative companies with core technologies such as robotics companies, artificial intelligence companies, chip companies, and smart manufacturing to fill the gaps in the industry.

In addition, China has trained 60 million university graduates and 4.5 million graduate students in the past 10 years.The proportion of overseas students returning home is also increasing. China has slowly shifted from the demographic dividend in the past to the engineer dividend (highly educated demographic dividend). With enough engineers, it provides a good foundation for China to shift from traditional real estate to technological innovation.

In the field of artificial intelligence, the current gap between China and the United States mainly lies in basic technology research and high-end technical talents. For example, in the chip and semiconductor industry, which requires long-term technology research and development and capital investment accumulation, China lags behind the United States in terms of algorithms. However, China’s population base and market are large enough to obtain a large amount of data. Therefore, China is ahead of the United States at the application level.

For example, Inno Investment’s “Inference Technology” uses deep learning technology to assist doctors in analyzing medical imaging data such as DR, CT and MRI. When this company found us, we decided to invest on the same day.

When I voted, I believed that this company would surpass similar foreign companies in the future and even become a global company. The founder of Infer Technology is a Ph.D. graduate from the University of Chicago. The team's algorithm technology is no worse than similar projects in the United States. Their advantage is that the medical imaging data they obtain far exceeds that of the United States. In terms of medical volume, a Chinese tertiary hospital can obtain more data in one day than its U.S. competitors can obtain in a month; in terms of privacy data protection, in the United States, if a company wants to obtain a patient's imaging data, it requires the patient's signature. , very complex, and Chinese startups have huge advantages in this regard.

One of the reasons for the Sino-US trade war is that the United States sees China’s ambitions and grand plans in the fields of artificial intelligence and smart manufacturing. This is the commanding heights of the United States’ industry. If China wants to do something, the United States will definitely suppress it comprehensively. Artificial intelligence and smart manufacturing are future trends, and China will not give up catching up.

The next ten years will be an era of technological innovation.

Strive to survive and live longer

This year, I hope to dig deeper into intelligent connected cars and intelligent manufacturing Two directions:

Cars are a trillion-level market. Since the invention of automobiles, they have not changed much compared to mobile phones and computers. Now the automobile industry has ushered in an inflection point of change. In the future, automobiles will be an intelligent means of transportation. For example, making calls is not the main function of mobile phones now, and driving may not be the main function of cars in the future. Instead, it will become a smart terminal and a detection terminal.

In the past 10 years, Apple has led to the explosion of the smartphone industry chain, giving rise to white horse stocks such as OFILM and Sunny Optoelectronics, whose market values have increased tenfold. In the era of smart cars, as Tesla builds factories in China, investment opportunities in the smart connected car industry chain have also emerged, such as driverless vehicles, key core components, V2V, V2X, connected car information security, etc. .

In terms of smart manufacturing, Japanese factories 20 years agoAlready very advanced and automated, most of China's production capacity in the textile industry, clothing industry and some heavy industry industries is very backward.

A year ago, I visited many 3C manufacturing companies. Defect detection still required manual inspection by female workers. They had to stare in front of a magnifying glass for a whole day, and their originally good eyes eventually became useless. If machine vision is used, it can not only free people from tedious and boring work, but also greatly improve accuracy. Many domestic chip manufacturing industries in China even require manual handling of chip wafers. I remember clearly that an operator fell while moving chips and lost hundreds of thousands in one fell swoop. In the end, he was fired. This was not the case in Japan. Full automation has been achieved long ago. When we eliminate unreasonable industries and excess production capacity, some new forces will definitely emerge.

In the past four decades, China has enjoyed rapid development due to the dividends of reform and opening up. China's housing prices have never fallen in the past 20 years, constantly challenging everyone's imagination. In the next three years, from an internal and external perspective, China's economy will be in a period of adjustment, with economic slowdown and a capital freeze being the norm. Because China has a huge population base and engineer dividends, it may be another period of rapid development in three or five years.

But in the winner-takes-all environment of 2019, entrepreneurs should Be more pragmatic, seek progress while maintaining stability, manage your cash flow well, do more deterministic things, and don't expand blindly. When capital is abundant, companies can do aggressive things. Now the business operations must be more stable and strive to survive and live longer.

If you are an entrepreneur and are interested in this topic, you are welcome to add WeChat: hizhudan for discussion, please indicate your name + company + title.

『撒』 What are the well-known brands of domestic autonomous driving chips?

Currently, Black Sesame Intelligence is the global leader in autonomous driving computing chips, with the most advanced domestic chip products and always maintaining large computing power. Chip leads the industry for 1 year以Up. It has Huashan series of chip computing platforms (No. 2 A1000, No. 2 A1000L, No. 2 A1000 Pro). A1000 Pro is currently the autonomous driving computing chip with the highest computing power in China. It adopts a heterogeneous multi-core architecture, 16-core Arm v8 CPU, 16nm process, typical power consumption is only 25w, supports 16-channel high-definition camera input, and supports ASIL-B level functions. Safe,内 Equipped with ASIL-D level safety island, it has the characteristics of high performance, low power consumption, safety and reliability.

『8』 I have a good investment project, how to find venture capitalists

What is the most important thing to start a business and run a company? It’s capital, it’s money. For entrepreneurs, the best financing method and the fastest way to replenish the blood and strength of the enterprise is to introduce venture capital, and use the funds and capabilities of these venture investors to make their enterprises stronger as quickly as possible. Of course, the first problem is to find venture capital.

Channels, connections, finding resources

First of all, you need to look at the amount of funds you need. Usually venture capital will not invest in projects that are too small, because the input-output ratio is really not very good. It is appropriate, so generally speaking, projects worth hundreds of thousands can use crowdfunding and other financing methods.

2/6

If the amount of funds needed is sufficient and your project is really affordable, then you can find venture capital as your investment channel. First, go to the venture capital directly. The way to invest is to check the website of the venture capital company, which has contact information, call them for consultation, and look for opportunities to communicate.

3/6

Venture capital companies all have their own company offices. If the distance is not too far, you can go directly to the front desk for consultation. Remember to bring the project plan with you. Books and other materials are available. If you can come across the right opportunity, you may be able to make further progress.

4/6

Venture capital companies usually have their own accounts on self-media. You can follow them and make inquiries. If they are interested in your project, they will make an appointment with you. for negotiation.

5/6

If you have friends or acquaintances who know VCs, you can ask them to help you connect and get to know VCs through the power of connections.

6/6

Showcasing your projects and capabilities by participating in entrepreneurship competitions is also a good way to gain the attention of venture capital, because entrepreneurship competitions usually attract a lot of attention High, especially if your ranking is relatively good or your performance is particularly outstanding, it is easy to meet venture capital investors who are interested in you.

Investors can usually be contacted through the following channels:

1. Ask friends for recommendations: such asIf you have friends in investment institutions, then they are the best candidates - if friends endorse you, then your project will have a much greater chance of being contacted by investors.

2. Find a reliable FA: A reliable FA will also give you some guidance on your project and help you find a suitable investment institution. The reliable judgment standard is: they will tell you the list of institutions that they will likely recommend, and tell you in advance the charging conditions, their information and cases that can be found online. Of course, FA also has its own project judgment criteria.

3. Send an email to the institution’s mailbox: The institution’s official website will provide their project delivery address. You can deliver BP to them, but this method is relatively inefficient because good investors routinely The project is already saturated, and I basically won’t read the BP recommended in my mailbox.

4. Participate in industry events: You can also meet some investors by participating in venture capital industry events, but unless you can get their attention to successfully deliver BP to them, you often even add WeChat Less than.

5. Deliver BP to investors through entrepreneurial platforms: Some entrepreneurial platforms have investors settled in them, providing entrepreneurs with channels for BP delivery.

There are two points to note when looking for investors:

One is to find the right institution - to find an institution that is in line with your entrepreneurial direction. They have a lot of experience in these aspects. They are knowledgeable and can provide you with some good suggestions.

Another thing is to find the right and reliable organization - there are several types of unreliable ones. The first type is that you can’t find business information and website information online at all; the second type is that you need to find it first. They charge you money; the third type comes to cheat you with food and drinks and disappears from the world. We have all encountered these, so everyone should keep their eyes open and be more careful.

If your project is not one that is favored by capital, you can also consider the following financing channels:

1. Find a bank loan. The core profit model of bank loans is to earn interest differentials through capital allocation. For most banks, safety is the first priority, so collateral is usually required as collateral. This also means that when seeking bank funds, you need to consider what you can use as collateral, and what means you can use to repay the final loan before you have a reasonable profit model.

2. Join government support projects. Under the guidance of national policies, every province and city has launched some plans to support start-up companies. Companies that receive support can obtain a certain amount of low-interest or even interest-free loans. The cost of using such funds is relatively low, but the problem is , the review conditions are stricter and the waiting time is relatively long.

You can chat with Ali Xie Shihuang

Xie Shihuang's resume: Xie Shihuang's phone number and WeChat email can be viewed on the "Sunac Wings" public account. Xie Shihuang, co-founder, investment general manager, senior director and head of the company’s product development department of Alibaba Group, Shenyang University of TechnologyBachelor's degree in Engineering. On October 18, 2016, the 2016 Hurun IT Rich List was released, and Xie Shihuang ranked 20th with 16.5 billion yuan. On October 10, 2019, the 2019 Hurun IT Rich List was announced: Xie Shihuang ranked with 3.6 billion yuan 1148 people.

Investment area: no limit

Single investment amount: 0-hundreds of millions of RMB

Investment style: Financial investment | Strategic investment

『九』 What substantial impact does the "digital economy" have on individuals?

A brief summary of the digital economy is: high-speed communication capabilities enhanced by information technology and accurate forecasting capabilities, making the economy itself intelligent. This is why the concept of "information economy-knowledge economy-smart economy" was mentioned after "Industry 4.0".

It may be difficult for people to predict what impact these improvements will have on the future economy, because this is the first change in human history without any historical reference.

But this is not the first time in the history of life. Similar changes occurred about 600 million years ago when single-celled organisms evolved into multi-celled organisms. The next big event was the Cambrian explosion of life.

What plays the same role as the Internet is the neural network formed by nerve cells. What plays the same role as various platforms is the network corresponding to functions such as movement, emotion, language, and thinking. With the support of the same communication system, all cells eventually formed a new individual, which also completely changed the way individual cells interact with the new individual. The development of the digital economy will also completely subvert the way individuals interact with society.

How does the digital economy affect the way we live and work?

1. The digital economy can key enterprises to every user function. Led by new technologies such as blockchain, artificial intelligence, big data, the Internet of Things, and cloud computing, the digital economy gradually integrates the functions of enterprises and individual markets, and plays an increasingly obvious role in allocating resources.

2. The digital economy can help relevant regulatory agencies and departments perform their functions effectively. The digital economy relies on relevant technological means to promote the formation of a more closely matched supply and demand relationship.

3. The digital economy provides huge convenience for employment and entrepreneurship.