The eldest person who had passed sixty years had a thick silver hair, but there were not many wrinkles and his face was always smiling. He was very talkative, energetic, and immediately excited when he talked about Silicon Valley. Although born in Italy, he has no obvious accent. Since the 1980s, Pierrot has lived in Silicon Valley and witnessed the development and changes of Silicon Valley in the past 40 years.
He is the author of "Silicon Valley Hundred Years History - The Great Process of Technological Innovation and Entrepreneurship (1900-2013)". It is considered to be "the most comprehensive and systematic description of Silicon Valley's uniqueness and successful mysteries."
At the "Tengyun Think Tank Innovation Summit" on December 20, Pierrot had just concluded a discussion with several Chinese experts on "Discovering China's Innovation Power." “In Silicon Valley, we don’t talk about innovation. Innovation is something that happens naturally.†We met at the backstage of the 100-year auditorium at Tsinghua University, and Pierrot seemed impressed. He relentlessly resigned to expose the problems in Silicon Valley. In Pierrot’s eyes, the big companies in Silicon Valley bought all the startups and were destroying them. The following is the content of the interview:
Chinese investors intensify Silicon Valley bubble
Reporter: Some Chinese angel investors can invest in dozens of projects a year. How do you see this phenomenon?
Pierrot: I have never heard of this in Silicon Valley. In the West, investors who want to take you will protect you, not just give you money. They really want to know what you are doing and meet every week to listen to your progress. Strictly speaking, you vote for so many cases a year, and there are so many hours to do these things. Perhaps some investors can invest 10 to 20 companies, but the core is still angel investors in the care of the startup company as a child. I want to raise my children; I want to help your business grow; I introduce you to others. So I heard that there are so many investors investing in so many cases. It's really strange to me.
Reporter: In Silicon Valley, how many companies do angel investors usually invest in a year?
Pierrot: Most angel investors are very cautious, investing in one project a year, or two to three. They will follow very carefully. However, there is now too much money. This will create a terrible situation.
Reporter: In recent years, more and more early investors have gone to invest in Silicon Valley projects. How do you think?
Pierrot: The reputation of many Chinese investors is not good. Of course, for those eager to obtain funds from China, the reputation of these Chinese investors is great. However, we have to think that many Chinese investors are not wise. We have seen many of their investment cases, and sometimes we are really hard to understand. A lot of money goes into the fund or incubator. We do not understand why we should do this.
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