Some things sound like jokes, but after experiencing them, they are hard to let go. Once, at a board meeting, a person who served as an HR executive in a large company bluntly said in front of everyone, 'Wang Feng, you are a person who has achieved nothing.' This statement caught me off guard, making me feel both angry and helpless.
This board meeting ultimately ended on an unhappy note, and what I regretted more was that because my mood was disturbed by this statement, I missed an important investment opportunity. At that time, Bitcoin was still around 4,000 dollars, and I originally planned to buy 200 million RMB worth of Bitcoin, but I hesitated and became uneasy and ultimately gave up. Looking back, I really should have been more decisive at that time.
Interestingly, the next day, this executive called me and said he was just a worker with no right to evaluate me and asked me not to take it to heart. His apology relieved me somewhat, but this incident became a node in my memory, often prompting me to reflect.
Although regret is unavoidable, being cautious is not without its benefits. Over the years, the companies I have been responsible for have survived tenaciously, no matter how difficult the circumstances. This relies on the team's efforts, the support of my brothers, and the trust of investors in me. These are all important reasons for my perseverance to this day.
The entrepreneurial journey: from Blueport to now, has always been a 'miracle of survival.'
In 2014, Blueport Interactive successfully went public in Hong Kong. This was a milestone in my entrepreneurial journey and a 'miracle of survival.' Every step of entrepreneurship feels like dancing on the edge of a knife, and this listing validated the efforts of me and my team.
Not long after Blueport went public, I received an invitation from Zhou Hongyi. He asked me, 'Do you want to join 360 and work together? You are already in the tools software business and understand games, and we have traffic products and distribution channels; isn't this a strong collaboration?' Zhou Hongyi even offered the position of co-president. In the middle of the night at the Ritz-Carlton Hotel in Beijing, he held a book by Kai-Fu Lee titled (Be the Best Version of Yourself) and said to me, 'Don't always think about the myth of making 10 billion in three years; if someone can lead a company to go public in eight years, they are already a top entrepreneur.' His words left a deep impression on me and made me reflect more on the path I have taken.
In the peak period of 2015, Blueport Interactive had nearly a thousand people developing online games simultaneously, gathering elite employees who had joined from major companies like Tencent, NetEase, and Kingsoft. The company provided shuttle buses for commuting and offered four meals a day in the cafeteria. At that time, Blueport was full of combat power, fighting all the way from Zhongguancun to Wangjing. However, the reality of entrepreneurship is often cruel, and after the peak, challenges will always come.
When the company began to encounter difficulties, I decisively laid off employees and optimized costs at the first sign of trouble, never allowing the company to fall into an unsustainable predicament. As a boss, I always adhere to one principle: never delay employee salaries and never let severance compensation become a dispute. I know this is not only a responsibility to employees but also a guarantee for the company's long-term development.
Along this journey, although there have been shining moments, I have also experienced hardships. But no matter how harsh the environment, I have always adhered to my original intention, leading the team forward on the entrepreneurial path. These 'miracles of survival' have made me understand more clearly that the true confidence of an entrepreneur comes from a sense of responsibility and execution towards oneself and the team.
Investment insights: The winner's mindset and the wisdom of cash flow.
As an investor, I have invested in hundreds of companies in the internet and blockchain fields, some successful and some completely failed. More than a decade ago, I invested in a game company called 'My Name is MT,' earning 140 million RMB, which was my first hundredfold return in life. The founder is my younger brother, and he jokingly said at that time, 'Boss, you've made a fortune, can you give us a bonus?' The next day, I directly transferred 14 million cash to their team as a reward.
One day, an angel investor asked me why I did that, and I simply replied, 'Because I want to.'
However, not every investment story is so beautiful. In the blockchain field, I have invested in hundreds of projects, and many founders do not even refer to me as their investor when we meet, instead calling me a friend, which I don't mind. For me, investing is not a threat or pressure, but empowerment and companionship.
Today, even in such a turbulent market, the companies I am responsible for can sustain at least eighteen months of salary reserves. This is thanks to the teachings of my former boss Lei Jun — cash flow is more important than anything else. In the balance sheet, income statement, and cash flow statement, only cash flow is the lifeline of a company's survival.
Reflection: Leaving room for others is leaving a way out for yourself.
I often tell myself that life and entrepreneurship are both long races. I gave up on Bitcoin and missed some opportunities, but I also preserved the survival ability of all my companies. This path may not be glamorous, but I feel no regret.
Sometimes, others' evaluations of you may be one-sided, but as long as you stick to your beliefs and do not go with the flow, you will eventually find your own path. Leaving room for others is leaving a way out for yourself. In the future, I will continue to carry this belief and walk more steadily and further.
