At a time when confidence in China is reaching a new low, we at China Money Network think perhaps it’s time to look beyond all those bearish headlines and try to focus a bit further down the road.
Luo Zhenyu, the founder of an immensely popular personal media and knowledge sharing show Logical Thinking (Luoji Siwei), recently said something that we really love reading — not only because his version of China’s future is rosy, which is comforting to people like us who live here, but also because he just might have a better chance of being right.
He lives here all his life and has succeeded thanks to this land and its people. Three months ago, some of China’s most successful investors, including China Media Capital and Qiming Venture Partners, made an investment in Mr. Luo’s start-up at a reported valuation of US$208 million.
Here is what he said at the beginning of 2016 in a public speech. Let us know what do you think!
– China’s economy will be good in the next twenty years. How good? Unbelievably good. Just go back 30 years, nobody in 1986 could ever believe that people’s lives could be this good in 2016. It’s the same going forward 20 years. People today can’t imagine how good our lives will be in 20 years.
– Our generation of Chinese are on a boat that’s moving forward very rapidly. Because the boat is moving quickly, everyone on the boat, no matter what you do, cannot be doing terribly.
– Grab any value investments in China now, and you will do very well. For example, properties in Beijing. I don’t think there is any doubt that Beijing’s property price could double again in the next ten years.
– I’m a good friend to a well-known economist Andy Xie. He is forever bearish on China’s economy. He has a nickname among Chinese economists: a watch that has stopped moving. But he will still be right twice a day. Should you listen to someone like him? I wouldn’t.
– The most stupid way to manage wealth is trading stocks everyday. People are spending valuable time on something that has very uncertain outcomes. I think their life is pathetic. From market open to close, they must stare at a screen and worry about market ups-and-downs. I think their life is not worth living.
– For our generation of people, the best way to manage wealth is to live in China, to live around best Chinese entrepreneurs, and to live around the best Chinese start-ups.
– Many young people ask me: should I start up my own business? I tell them, don’t think about this question. Instead, ask yourself this question: if the smartest people you know decides to start up his own business, will he ask you to join him? If you have made yourself valuable to the people around you so that the best talent of your professional circle wants you to join their start-up, then you will enter a promising career path.