"Everyone says that AI is strong, how many people on site have truly experienced the power of AI?" At the first summit of "Focusing on New Quality Productivity and Building a New Ecology for Venture Capital" held on July 6th, renowned entrepreneur and Chairman of Xiaopeng Motors, He Xiaopeng, gave insights on the potential for venture capital in cutting-edge technologies such as artificial intelligence, which resonated widely among attendees. In an interview with Southern Finance's full media reporter, He Xiaopeng also conducted an in-depth analysis of the latest trends and challenges in the field of venture capital.
Looking back at 22 years of experience in venture capital, He Xiaopeng stated that the field of Chinese venture capital has formed a huge ecosystem, and he and many colleagues have participated in this process, witnessing the golden age of Chinese venture capital. He revealed that in the past 22 years, his personal cumulative investment has reached about 700 million US dollars, and the investment layout he represents the company has also exceeded one billion US dollars. In addition, he also participated in the acquisition of a company worth over a billion dollars and successfully sold a company worth about 700 million dollars. "Although the road to entrepreneurship is full of thorns, every leap is a ladder of growth.".
On site, He Xiaopeng also mentioned his observations of the China US Entrepreneurship Exchange Conference. He introduced himself to participating in several conferences in the United States that focused on venture capital and corporate development. In one of the most significant conferences, the number of Chinese and American entrepreneurs was comparable, with almost half of China's top 20 or top 30 companies attending. However, it was difficult to find Chinese small businesses among startups. Among the two to three hundred industry investors on site, only one Chinese representative was seen. He said, "This to some extent reflects the lack of initiative in the Chinese business community at that time to cross borders, actively explore the external world, broaden cooperation channels, and insight into international trends. This phenomenon is worth pondering.".
Looking ahead to the future, He Xiaopeng is full of confidence in the direction of AI technology. "Everyone says AI is strong, how many people on site feel how strong AI is?" He used the latest version of GPT and the rapid progress of autonomous driving technology as an example to demonstrate the powerful capabilities of AI in data processing, predictive analysis, and predicted that AI technology will lead the transformation of new operating systems and production relations. He stressed that the future operating system will rely more on AI technology, and the traditional CPU and algorithm will be gradually replaced by GPU and deep learning, which will inject strong power into the development of the Internet and the digital economy.
However, He Xiaopeng also expressed deep concerns about the current Chinese venture capital environment. He observed that some investors exhibit a conservative attitude when facing emerging technologies, preferring to pursue short-term returns and ignoring the long-term value of technological innovation, which to some extent restricts the financing and development of innovative enterprises.
Taking Xiaopeng Automobile's diversified layout in the fields of autonomous driving, flying cars, and robotics as an example, although they received capital support in the recent round of financing, they still faced many challenges throughout the entire financing process. Investors believe that it deviates from the traditional business scope or is difficult to achieve rapid profitability. However, with the changing economic environment, the potential of these fields is gradually being recognized. But this investment philosophy of pursuing rapid success and neglecting long-term layout undoubtedly adds more uncertainty to the growth path of innovative enterprises.
"The current financing environment is vastly different from the past, and many investors are unwilling to take risks and hope that companies can provide guarantees." He Xiaopeng pointed out that the Chinese investment industry is gradually shifting towards a risk-free investment model, resulting in many hard technology projects being difficult to advance due to a lack of long-term financial support. "The investment industry plays an important role in supporting innovation and long-term development, but this situation reflects the transformation of China's investment industry towards risk-free investment, which goes against the original intention of long-term investment in hard technology." He Xiaopeng called for the establishment of a more diversified investment system. "China needs investors at different stages to support various types of enterprises from early to mature stages, rather than just pursuing short-term risk-free returns.".