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25-05-2024, 04:40 PM
IIRC, I think it's Xunzi who said 登高望远.
Which I concur and in my Investment, I no longer look into too nitty gritty or the need to weigh a "investment" in order to know it's fat or not.
In a glance, it should be obvious it's fat otherwise would not be too interesting an opportunity to look upon.
Seems like totally not related and own-self talk own-self "shuang" hahaha.
It's just to say, look back to my investment logic on Tencent:
Is Weixin still a fertile ground? Is the ecosystem still running well? << Yes
Are its Products & Services still providing good values to its Users? << Yes
Are the Products & Services still expanding? << Yes
Looking at particular product/service such as Video Account is like focusing on a Big Tree and missing the fertile ground.
It might be one of the big potential growth now and in future, but it shouldn't be the only one and I do hope it's NOT the future. Imho, I don't think this product has much values to society in large.
So drilling into 1 product it's akin of looking into a game such as the party game and think hey they are losing to NetEase still. At any time, any of their products sure have risk of losing to others.
Don't get me wrong also, I do think their VA is still far behind Douyin or behind Kuaishuo also, but so what, if they need to rely on VA to grow, I would not have invested in them.
I wouldn't be surprised if one day another super good App can replace Weixin, but in my investment logic, it wouldn't be soon or in my foreseeable future or at least the odds of that is super low.
To me, there're several positive reinforcements from the 2024-Q1 webcast.
The main one is it reinforces my understanding of the power of ecosystem or the fertile ground.
Which I concur and in my Investment, I no longer look into too nitty gritty or the need to weigh a "investment" in order to know it's fat or not.
In a glance, it should be obvious it's fat otherwise would not be too interesting an opportunity to look upon.
Seems like totally not related and own-self talk own-self "shuang" hahaha.
It's just to say, look back to my investment logic on Tencent:
Is Weixin still a fertile ground? Is the ecosystem still running well? << Yes
Are its Products & Services still providing good values to its Users? << Yes
Are the Products & Services still expanding? << Yes
Looking at particular product/service such as Video Account is like focusing on a Big Tree and missing the fertile ground.
It might be one of the big potential growth now and in future, but it shouldn't be the only one and I do hope it's NOT the future. Imho, I don't think this product has much values to society in large.
So drilling into 1 product it's akin of looking into a game such as the party game and think hey they are losing to NetEase still. At any time, any of their products sure have risk of losing to others.
Don't get me wrong also, I do think their VA is still far behind Douyin or behind Kuaishuo also, but so what, if they need to rely on VA to grow, I would not have invested in them.
I wouldn't be surprised if one day another super good App can replace Weixin, but in my investment logic, it wouldn't be soon or in my foreseeable future or at least the odds of that is super low.
To me, there're several positive reinforcements from the 2024-Q1 webcast.
The main one is it reinforces my understanding of the power of ecosystem or the fertile ground.
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
"The flowers that bloom in the spring, have nothing to do with the case".