In baseball, there are two types of hitters. One is to hit any ball and give it your all; the other is to only hit high probability balls. Ted Williams, the "best hitter of all time" and American hitter, is the latter.

Li Zhu, founding partner of InnoAngel Fund, also mentions this cross-border story in his speech.

The following is a partial extract of essence:

1. New strategies are necessary to overcome cycles. A deep understanding of the overall environment is a necessary prerequisite for analyzing and selecting investment tracks. When challenges and opportunities coexist, we will find that: firstly, the current era is one of consumption downgrade; Secondly, it is also an era of technology going global; Thirdly, the US dollar interest rate hike and tightening of listings affect the underlying logic of investment; Fourthly, AI is driving significant changes in the new cycle.

2. We need to move up and move forward. In a market where capital is still lacking, we must firmly support entrepreneurs who stand at the forefront and only invest in key innovations in the industry chain. Everyone's abilities and cognition are limited. Therefore, we emphasize the importance of the 'focused circle'. In the investment process, we will only choose industries that we are familiar with and in line with trends to avoid blindly following the trend.

3. Technological innovation is the most important track. We need to search for and invest in companies in multiple industries that have the potential to become industry leaders. These companies not only have a say in the domestic market, but also need to have the ability to go global and expand their business with a global perspective. This is both an early investment opportunity and an opportunity given by the times.

4. The core criteria for early investment judgment is innovation, growth, and sustainability. Innovation emphasizes high barriers to entry, scarcity, and high gross profit margins, requiring deep research and accumulation to solve key industry problems; Growth refers to the continuous expansion of the market, ensuring that the enterprise can occupy a certain market share and achieve scale; Sustainability is related to the risk of technological substitution and requires the use of deductive methods to predict future technological trends. And they are the cornerstone of the capital value of technology projects.