Baidu winter

Cover Baidu winter finance

fenghuangcaijing· 2016-06-26 19:40:10

"no company is public opinion and public relations crisis down, the emergence of systemic risk only in the strategy, product, company culture and a series of links, the company will be defeated again and again in the problem. "This print journalist Song Weiliu

starring Intern Shen Yuzhe / text

6 8, Hilton Hotel Dali top executive lounge, just finished a speech Robin Li half leaning on a comfortable white sofa, taking into account the attack and pressure in the past month Baidu suffered, his face is somewhat unexpected.

"I've been wondering why we come to this? "Robin Li to" finance and economics "the reporter says.

2016 at the beginning of the year, even the most pessimistic analysts do not think the Internet, the total market capitalization of $65 billion, 2015 net profit of more than $5 billion 190 million, an increase of 155% Chinese Internet giants at home will encounter so badly.

4 12, a cancer of the university student Wei Zexi through a Baidu sponsored links to try to accept treatment after the death of the treatment, the next more than a month, Baidu has become the focus of the question. Public opinion, Baidu should be responsible for this.

and Baidu crisis, Wei Zexi brought a rare event - a lot of media including one-sided accusations against the "people's Daily" and the official Xinhua news agency, the listed company has been overwhelming criticism. On social networks, users called for a boycott of Baidu, and others called for Google to return to china. While some of the size of the competitors, then took the opportunity to play - a website CEO to write an open letter to Robin Li, said Baidu's rise to become China's largest flow entrance, leading to a large number of enterprises decline.

at the same time, Baidu became the first government departments to investigate the object, after it has been as Google's opponents, the government's regulatory window by the official support. "The government behind Baidu has put away the umbrella. "An Internet commentator on the" finance and economics "reporter said.

6 13, Baidu lowered its quarterly revenue forecast. Baidu is expected in 2016 second quarter revenue of 2 billion 810 million 28.2 billion dollars, lower than the previous estimate of 3 billion 50 million 31.2 billion dollars. Moodie, a rating agency, released a report in June 15th, Baidu expects 2016 revenue growth will slow from 35% in 2015 to 15%.

more direct impact is the stock price. As of June 17 U.S. stocks closed at $163.71, Baidu shares fell 15.7%, within two months, the market value fell from $68 billion to about $56 billion 300 million, has shrunk to about $11 billion 700 million. Ali ($192 billion 700 million) and Tencent ($204 billion 800 million) of the market value of 1/3. Some comments that Baidu is saying goodbye to the BAT camp.

in the country's largest answers community know peace, there is a called "Baidu employees how to see the Wei Zexi incident" post, Baidu employees, former employees, partners with 672 answer. An employee cited "The Shawshank Redemption" in a sentence: "enough time, you hate the wall, slowly, you used to live in it, eventually you depend on them. Another Baidu employee, said he had a week to eat in the restaurant has been afraid to open invoices, because they do not want to let the waiter and the neighbor table to hear that he is Baidu.

from the reputation to the stock price, from income to trust, Baidu is in crisis.

at this point from Baidu's share price is the highest point in the past 19 months (November 28, 2014, Baidu's stock price reached $251.99, the market value of $86 billion 800 million). In earlier in 2011, Baidu's market value for the first time more than the Tencent to become the first Chinese Internet companies. In the same year, Robin Li became the richest man in China, and made a speech, saying that Baidu wants to win the respect of the whole world for china".

believes that most of the industry evaluation, Baidu today's situation, not because of a specific event, but a process of the days and months multiplying. It reflects the systematic problem, this problem is based on business ethics, business, strategy, business management oriented, and in the public opinion and competition under the amplification, the emergence of a comprehensive result.

only examine the research and explore how Baidu is in crisis, in order to know the China star technology companies how to get out of the crisis.

is the alienation of competitive ranking

under the premise of not illegal to pursue the maximization of business value, is the embodiment of Baidu's commercial values, but also the bottom line of Robin Li. But in relation to the people's livelihood and other important issues, the only commercial value is not enough

into the first week of summer in 2016, Baidu is undoubtedly the beginning of winter.

is the world's largest Chinese search engine, because the Shaanxi youth Wei Zexi's death is pushed in the teeth of the storm. Led by the national network office led the establishment of the joint investigation team announced that the results of the survey, Baidu search related keywords competitive ranking results, the objective of the choice of medical treatment has an impact on Wei Zexi.

PPC, which buy keyword search results before several positions, and then to sell auction advertising businesses to link. The company (later renamed Overture) was founded in 1998 and, since then, almost all the search engine business model was born out of this, including Google.

since 2006, Baidu has not been entirely in accordance with the bid to arrange the results. 2009, Baidu launched phoenix nest system, the introduction of the competitive ranking in the quality of (including the click rate, creative quality, account performance, etc.), the price and the quality of the common decision sort.

competitive ranking itself is a reasonable and legitimate, is widely used in business models. All the world's search, all of the ads are competitive ranking. 360 Zhou Hongyi, chairman of the company in an interview with the financial reporter, said. 360 search engine market share in China after Baidu, which claims to occupy about 30% share.

search engine is a tool, tool is without sin. Baidu competitive ranking was criticized, the problem is not in the competitive ranking of this business model, and in the realization of the path and guidelines for this business model.

, for example, in the advertising or the normal search results on Google is the confusion degree, strong labeling, Baidu is weak labeling; for example, before November 2011, Google does not sell advertising to sell only the left side of the page, on the right side of the page advertising, while Baidu started selling the left side, and each screen advertising number more than Google, later more and more; in the field of medical treatment should be cautious, Baidu could not resist the temptation of business.

2016 in May, Robin Li in an open letter, he wrote that the short-term KPI (key performance indicators) to chase the company "and users away".

2000 years of the Internet bubble is about to burst, Robin Li founded Baidu. Five years later, Baidu listed on the Nasdaq, the U.S. capital market has created more than 200 years of overseas companies, the highest single day record.

over the past ten years, the company is like a high-speed train. Its market value has increased by 27 times, with total revenue from 319 million yuan in 2005 to 66 billion 400 million yuan in 2015. It takes great returns to shareholders, and realize the flow of value maximization, but also the advantages of this migration to the mobile terminal (Baidu currently over 50% revenues from mobile), from this perspective, Robin Li is a successful entrepreneur, he created a huge commercial value of listed companies.

in the huge profits and returns, the medical customer's contribution to Baidu can not be without. According to the April 2015 International Bank released research reported that its estimate for 2013 and 2014 Baidu Internet search revenue was 28 billion 600 million yuan, 42 billion 900 million yuan, which estimates the contribution to the Department of Putian Baidu's revenues were 22%, 19%, and the promotion of Baidu medical income contribution more.

on the first day of the birth of, Robin Li will put forward the three law of the search engine". From which the "confidence law" can get a glimpse of Baidu on PPC philosophy: who have confidence in their own website, who in the front row. And the confidence of the performance is willing to pay for this ranking.

he told the financial reporter, for the user, is not a commercial promotion is not important, it is important to have this result to meet his needs. "Competitive ranking results and user search results correlation is the highest, may not hurt the user experience. For this kind of idea, we have not been the result of the promotion and natural search results are so clear. "He paused, added, but it did bring a lot of complaints.

based on the above law, Robin Li believes: sometimes natural search results but no competitive ranking results. Such as search, dry cleaning shop to join, advertisers are Baidu after the audit, there is quality assurance, and in the natural search in the dry cleaning shop to join, the company does not exist, no one knows.

6 month 8, Robin Li in an interview with the financial reporter, said the event, Wei Wei, and Baidu signed a contract is a top three hospitals, it is a complete qualification, showing the legitimate business. Later, Baidu removed all the police system of hospital advertising, this is a measure of the most relevant and Wei Zexi events.

China's third largest search engine Sogou CEO Wang Xiaochuan on the "financial" reporter said, "health care is a special industry. We need to undertake the social responsibility to help users identify. "

Zhou Hongyi thinks," search engine three law "in the medical industry is invalid. Because the health care is a serious shortage of supply of the industry, the regular hospital is not to spend money on the search engine advertising.

"finally led to this (medical) industry, the more money, basically all the bad guys. He said, competitive ranking like drugs, smoking is difficult to quit after. May 2016, 360 search announced to give up all medical business promotion.

in the weak supervision of the community, companies often need to have higher moral self-discipline, to bear part of the original government to assume responsibility. Well known Internet critic Hong Bo on the "financial" reporter, said that Baidu is not born with its body mass and influence of the mature business ethics.

"if the promotion is more clearly marked, we accept the extent will be higher, I am no problem. "" "Wei Wei incident" after the outbreak, Robin Li on the "finance and economics" reporter said. After the rectification, Baidu control business promotion information accounted for less than 30%, while strengthening the commercial promotion of the words marked intensity.

under the premise of not illegal to pursue the maximization of business value, is the commercial value of Baidu, but also the bottom line of Robin Li. But in relation to the people's livelihood, the only commercial value is not enough. "The two cultures eventually need to focus on a dead college student to release all of the conflict. "A Tencent Inc source said.

"Baidu has the potential to become a great company, of course, the future may also be. But right now, it's just a profitable company. "A senior person who worked for Baidu years ago said.


"the company if the deviation of the words must be a culture and values out of the question. Robin Li said, this is what he is now the most worried about

we are very early on the awareness and put forward this problem. "The former Baidu employees said that Baidu had internal debate, with Yu Jun as the representative of the product team to completely change, cancel the advertiser" grey zone, and then Baidu COO Shen Haoyu as the representative of the operations team against. "This is the only reason for Baidu to be a great company in the future," said a senior product team at the conference. "At the end of the two sides reached a consensus - gradually changed.

at this meeting, Robin Li did not show up. Shortly after

, the CCTV crisis broke out - in October 2008, CCTV two days after another reported that Baidu's sales staff to help customers fraud, and even the existence of extortion suspected of extortion.

6 month 8 days, Robin Li to the financial reporter recalled, when the CCTV crisis is more because Baidu in the sales system management does have loopholes. "We quickly blocked the leak. "

used inside Baidu, sales representative, commercial power and the power of the product on behalf of the user, they contain each other, well-matched in strength, compromise. Until 2011 - 2009, Yu Jun, Bian Jiang, Li Jian as the representative of several generations of Baidu product director have left, breaking the balance of the balance. Baidu

in the rapid expansion of the sales network in 2003 2009, Baidu is also the peak period of product innovation. At that stage was born, such as Baidu post bar, know, Wikipedia and other Baidu's history of the most star products. At that time, 21 of Baidu's product line, with the amount of users billions of dollars of products is 7 -8. December 2003, Baidu records a month on the line six products at the same time.

"conflict is the mother of innovation. "A former Baidu product director told the" finance and economics ".

"all of our work is to obtain information even this thing. "The former director said, they believe that any action to prevent the spread of information is immoral. Even if the spread itself is not moral, they also want to spread the information, knowledge, to meet the user. This is why they want to do Baidu Library of the reasons for the risk of piracy.

a former Baidu employee told the "finance and economics" reporter, Baidu has a lot of unknown principles, it is the principle of product technology sector, but not the principle of the entire company. For example, Baidu MP3, using only the chain, do not download any songs on your own server; early Baidu firmly do subscription packages and customized ringing tone game; Baidu news, the principle is no manual editing, before 2009, Baidu news without any editing posts.

"remember Baidu in order to users of the 1 points and the night to track down the problem. Every year to know the friends will listen to their voices, will be more responsible for each code, every feature. Responsible for Internet users, only the achievements of today's Baidu. "An old employee who is still in the Baidu office, said.

with early product concept and values of the people on behalf of Yu Jun left Baidu, the original two forces began to unbalance well-matched in strength. From now on the results of the point of view - business began to dominate the search, and technology, products for commercial services.

"most product lines have a large (commercial) pressure. "One Baidu employee said.

2016 years in February, because of the right to operate the right to hemophilia it contracted to third party partners, Baidu post bar event. Background is the first time it was posted in 2015 for the first time in the commercial, and this time from the bar was set up in the past 12 years.

is a Baidu staff told reporters, many problems have seen today in the Baidu search, search for a keyword, what to see first, after seeing what "largely is not a technical problem, but the problem of product concept".

relatively speaking, in Baidu, technology, market, sales system, staff promotion opportunities for more. The current senior vice president, Baidu search company president Xiang Hailong 15 years ago, is the general manager of a Baidu dealership in 2005, his company was acquired by Baidu, Baidu to join the dragon.

to the dragon is not tall, serious in speech and manner. The subordinate said he never entertaining clients, has led the team to maintain the high speed growth of more than 200% for three consecutive years, 2007 was promoted to general manager of the branch to the dragon of Beijing, three months after he was promoted to vice president of Baidu Inc sales. 2011, to become vice president of commercial operations of the Baidu Inc. In 2015, became one of the three business groups in Baidu search business group (SSG) person in charge. In 2016, SSG and mobile services group (MSG) merged into Baidu search company, to become the Dragon CEO.

Baidu a total of three SVP (senior vice president), responsible for the technology of Wang Jin in December 2013 was promoted to senior vice president of Baidu, in charge of sales to the house in October 2014 was promoted to SVP. In June 22nd this year, Zhu Guang became Baidu's third SVP, Zhu light in 2008 to join Baidu, Baidu is the first to be responsible for marketing and public relations business.

other part of the staff is that, the promotion is very difficult, especially in the early days of the product system, almost impossible promotion. "A former Baidu employee said that Baidu's seven founders of the Guo Dan and Cui Cui leave, the position or Baidu senior director, and at that time they have worked for the company for ten years. Mu Rongjun, co-founder of the United States and the United States to leave the technical manager of Baidu, the hands of only a few dozen shares in the hands of the company.

in this round of adjustment, Baidu map, Post Bar and other products are also classified in to the Dragon 's.

"Baidu has a very thick thigh, called the search, called realized. Instead of playing a user habit is not training into new markets, as this quarter to the company to earn more than 500 million, the completion of KPI, promotion faster, more money. "A Baidu search company, the current employee said.

"those new to the people, including the top, they are in the end what is the value of Baidu? There may be a misunderstanding. Robin Li said.

in recent years, with the rapid growth of Baidu, a large number of departments, the number of expansion, which directly brought about the value of the early Baidu dilution. Robin Li said, this is his most worried about things.

Baidu's corporate culture is easy to rely on, early 80% of the people are product technical staff. "And now 50 thousand employees have 20 thousand people aged less than two years, the past three years, the number of our employees has doubled, and their feelings for Baidu, Baidu culture into the integration is very limited. "The Baidu middle class told reporters," we not only to defeat the outside, as well as internal. "

" in Baidu for smooth edges. "Baidu a high level of staff said. In Baidu work, just started six months is very tired, to adapt to the pressure is not. However, the value of Baidu's assessment is very strict, 360 degree grade, fill in their own scoring, the superior grade, the lower grade, peer rating. "

2014 years, Baidu has erupted within the enterprise culture of the controversy. Cause is a post within the network, there are staff that Baidu's corporate culture is a problem, and the management is still very good corporate culture of Baidu - they have argued for thousands of pages. The

argument is the result of Baidu, made a series of cultural Yetan, staff together, share the culture of the Baidu story.

a person eight years ago in the Baidu product department told the "financial" reporter, when they joked that Baidu's dream is that only Baidu, no internet. Users can index and search for any information and services you need on Baidu.

"this needs to be more powerful and more crazy heart, they are the most proud of the Chinese Internet group of people. And now, it's hard for you to find this kind of pride in Baidu. "He seems to have some frustration.

reason Mr

"he feels he is in a sense of crisis, but why does the whole company look like there is no sense of crisis? "

2015 February 17th, two days from the Spring Festival, Robin Li went to the office of Baidu Nuomi to turn a circle, found that the company has not had a holiday, there are many employees did not come to work.

before he had just learned that WeChat's red envelope with 269 million yuan to win the exclusive interactive cooperation with the Spring Festival gala. This is known as a rational and calm entrepreneurs control his emotion, executives decided to call out to eat a meal together, it made him angry situation -- more than half of the executives have not leave in Beijing.

Robin Li had never publicly on the high level and employees to vent their emotions, he is always very calm, and sometimes even make people feel that he did not have the temperature. And this time, a lot of Baidu people rarely feel his dissatisfaction.

2015 in July, at the Vc firm DCM at the CEO summit in San Francisco, at about 150 entrepreneurs and investors before, Robin Li said to regret the leading Baidu into the mobile Internet era, no sooner take action.

in the creation of Baidu 15 years, Robin Li has always focused on the search for this thing, the vast majority of products and technical innovation is only the main business services. At the same time, the overwhelming importance index, because the data do not lie - thanks to Robin Li early in the work experience, the financial information provider by covering the source of information and the preparation of the world's largest number of published index, to subvert the traditional industry news. Robin Li in here for the "Wall Street journal" developed the world's first real time network of financial systems.

in Google, KPI is a "goal", it is often set high, and has a considerable degree of tolerance. And Robin Li will KPI as a commitment. Less commitment, more cash in the Baidu is regarded as one of the tenets of corporate culture.

in the early speeches and interviews, Robin Li's most often emphasized that, "do what you like and good at things, to give up the unrealistic dream.

Robin Li said that Google spent two years, please 20 artificial intelligence scientists developed AlphaGo. In Baidu this project will be denied. We will ask, you spend so much energy to do a thing in the end to achieve what kind of value? He believes that Baidu's most important resources should be placed in the direction of more market prospects, rather than to develop a robot will only go under.

Robin Li cautious, alert and cautious about costs and benefits. One had worked in the Baidu marketing department staff said that the subordinate handed Robin Li a contract signed, he will start from the first page, a word a word to see, sometimes the contract is very thick, he also insisted on reading. In this process, Robin Li often after he will not to utter a single word, two questions, answer to sign, not answer clear again. "No matter you are ready, he can always put forward a few problems that make you unexpected. The former employee said "

, a Baidu employee is a meeting with Robin Li that he is doing a EXCEL table, which details the performance, weight, price of seven or eight car seats, size, and even the width of the trunk. The staff said that in China's richest man, you may be the last one to make a EXCEL table to weigh the people buy a car. Robin Li looked at each other and said, "we still have to stay rational. "

" I am not the most adventurous person, I take the risk of my analysis, research, I think this risk is worth the risk. Robin Li said.

Robin Li is not in the traditional sense of the Chinese entrepreneurs, he believes that the power of technology and digital, do not believe people; more independent decision-making, do not love social.

Post Bar incident part of the reason, it is derived from Robin Li excessive reliance on the power of the mechanism. He told "finance and economics", in the commercial before it, he asked his subordinates, selling it will not bring some serious consequences? He got one of his most convincing answers - to ensure that there is no accident, "we have a set of mechanisms".

later thought, no matter what kind of rule, even if there are one thousand times to do the right, but as long as a mistake, the consequences will be very serious. "He said. After the end of the Baidu comprehensive cessation of the commercialization of the disease bar.

into the mobile Internet in the first two years, the company has been questioned because of the conservative strategy, one of the important reasons, Baidu's decision-making system is focused on a person.

an entrepreneur told reporters that the reason he left Baidu is unsuccessful in Baidu internal business, he wrote a 78 page PPT to Robin Li, but Robin Li soon after a year without approval, the Department of financial appropriation, so he left the venture.

a Alibaba executives told the financial reporter, in Ali, Ma Yun's strategic thinking is in the air, the bottom of the whole feeling. But Ma is not specific things to make instructions, so the space is great.

"at Baidu, if Robin Li does not make a decision, others will not make a decision. "A partnership with Baidu over the investment bank Robin Li, at the meeting he often starts not to utter a single word finally settled.

in May this year, Baidu dismissed the vice president of the company, there is the father of Baidu promotion, the king of the title, on the grounds that the company's interests". Last year, the whole company gave him a big party and issued a trophy, the trophy is written on the number 15, which he joined Baidu's fifteenth years.

"Robin Li is extremely Yinren, restraint", a middle Baidu to "finance and economics", he can only according to the data and index to deal with everything, but he is very difficult to face, to a person, so he always choose to avoid, but once unbearable, he will make a bit ruthless decision. "Maybe Robin Li should have come earlier, not more ruthlessly, to deal with an old employee. "

" may be in other companies is six months, not to leave. For Baidu is not even a year, I think for two years, three years, if you still can not become Baidu's people within three years, I really do not want you. But in the three years, he may have been with a number of people have lost. Robin Li said.

in the Tencent, Ma Huateng Zhang Zhidong is still the company's partner in the BSFLP, Ali, Ma Yun has more than and 30 partner ali". And now Baidu, only Robin Li and 50 thousand employees.

, a former Baidu told reporters, Robin Li once saw an article entitled "Baidu veteran entrepreneurs seven Musketeers full employment," Robin Li into the Regal isolationist report, "the moment the mood is very low. "

" in the early days, all people can argue with him. So some people like him, some people don't like him, but now these are not important, because everyone is guessing what the boss is thinking? "These people said.

Robin Li told the financial reporter, because sometimes afraid of being misunderstood, so many years he has been to suppress their own expression. "In fact, I am really afraid, a long time will be numb, will be used to and around the person familiar with the communication. Robin Li said that Baidu needs to constantly recruit these young people, and constantly cultivate young people.

to some extent, indicators and data has become the most direct and effective communication tool for him and his staff.

Robin Li said, "Wei Zexi event" let him for so many years insisted the idea of more or less doubt. "We may not be so pragmatic, maybe we should add some idealism, so that everyone will like you more. A Baidu

two years ago, the middle management meeting, Robin Li carefully prepared a PPT page, a display of Alexander library photos, he said: "Alexandria has the world's first, discharge the first, they collect books in the import cargo, these books are regarded as more important than the treasures of gold and silver. In the end, they built the Alexander library into the world of civilization, and Alexandria became the center of the world. "

" I want to build the center of Baidu innovation. "The entrepreneur said, everyone seems to have a surprise. One of the participants said: "what did we do wrong? "

and miss

" in a sense, our approach is relatively conservative, as do the search is a matter we kindness knows no bounds, can do more. "

character determines destiny, fate and come back to strengthen the character.

in the industry view, Baidu's development over the past 11 years is a smooth, it is lucky to avoid the impact of the Internet bubble, and without any cash flow pressure on the enterprises in the same period in very rare. 2010 after Google's withdrawal from China, Baidu more lonely, it is in its own main field invincible hand.

Chinese search is an oligopoly market, a large number of companies rely on Baidu's flow beyond the imagination of outsiders - in 2011, the U.S. group has more than 50% of the traffic from Baidu. This advantage even extended to the mobile era, in the early days, the traffic is the largest source of traffic is Baidu maps.

in the heyday of Baidu, because of its dependence and fear, entrepreneurs will make Baidu shares in order to win over 2008, is entitled to exclusive cooperation in Baidu video, to Baidu to pay 3 million yuan, and the donation of less than 1% of the shares, and cool 6 network with Baidu to pay 6 million yuan in cash and 3% shares of the gift, finally won the Baidu. At that time, Baidu to advertising and other resources to the replacement of some of the shares of the new company, in order to establish a rule.

since then, the Internet from the information age into the social and trading era, Baidu is no longer the only overlord. When Baidu needs to invest in the planned price, it reflects the conservative, cautious side. They tend to clear the market prospects of the industry gathering resources for investment, rather than those who are upset or having a correct understanding of the company. The period of the investment in Baidu holdings, accounted for a large share, is typical of Iqiyi and where the holding.

2014 years later, in order to expand the scope of their respective forces, BAT have scrambled for start-up companies. Baidu obviously felt the pressure, it has invested in Shanghai river network (holding 12.5%), Uber (15% stake), I bought net interest in medicine network, excellent letter shot 28 enterprises, involving various electricity providers, second-hand car trading, online ticketing, online education and other vertical areas. At the same time, no longer seek holding.

according to the international authoritative financial data provider Dealogic to "finance and economics" the data show that from 2008 to 2015, Baidu shares a total of 48 companies. Among them, 2008 and 1 in 2010, 2011 and 2012, each of the 5, and then gradually accelerate the pace of investment in 2013 7, 2014 10, 2015 has reached 18.

contrast Alibaba, from 2008 to 2015, a total of 109 companies. The Tencent shares a total of 126 companies in seven years.

2013 invested $91 for the acquisition of 1 billion 850 million is considered to be the focus of the outbreak of Baidu anxiety. 360 chairman Zhou Hong admitted that he had two to go to Xiamen to persuade Hu Zemin to raise price Baidu 91 wireless CEO. A

close to the group who told reporters that early Baidu had the opportunity to 2 billion yuan valuation of the U.S. investment group, group 5% of the shares held by the United States, but in the end Baidu chose a cheaper $160 million holds a controlling stake in glutinous rice nets 59%.

years later in the fall of 2015, the U.S. group and commented on the final negotiations, they hope to complete the merger within two weeks. In the last few days, Baidu broke in, given the U.S. group of 50 billion yuan valuation, hoping to contribute to the merger of the United States and the United States and glutinous rice. "Too late. "These people say.

Robin Li said that the meaning of glutinous rice for Baidu is that it allows Baidu to truly connect people and services, which is the biggest reason for his support for glutinous rice. But it is undeniable that the O2O investment project is boundless to contain Baidu. According to the

analysis of Nomura Securities earnings for Baidu Q1 in 2016, the Q1 profit fell 18.6%, mainly due to the continued investment in O2O. Guoxin Securities February 29, 2016 published research reported that Baidu future risks mainly exist in the O2O competition and increase online advertising growth rate is lower than expected. Comment on a $

fund partner, Baidu in the mobile force on late, is also the most anxiety. At the same time, Baidu's investment in O2O, no car, finance and other emerging business investment, the need for a large number of financial support. The

search business has become the biggest transfusion channel, to its imbalance in endless demands and pressures. This is a cycle of Baidu's current predicament. "He said.

accept the "financial" reporters interviewed a number of people believe that Baidu should make more far-reaching layout in the early advantage of the vertical industry to support more in-depth, industry chain, from the information service layer to deep layer. Because of an ecological platform, only video and travel is far from enough.

, a Jingdong executives told the "financial", early Jingdong more than 70% traffic from Baidu, Baidu in 2010 and had the opportunity to take a pack ah business platform to the Jingdong, the Jingdong investment in exchange for 15 to 20 percent shares, Robin Li not agree. These shares are worth $5 billion 800 million today.

but the Internet is like this, it is destined to miss a lot of things.

out of the winter

Baidu appeared today's crisis, there are technical, product reasons, there are management, cultural reasons. Compared to the former, the latter to Baidu's challenge to greater

, we have a long time did not give users a truly innovative new products. "Robin Li said, to some extent, Baidu is still too conservative. "We need to innovate, so we have a lot of Baidu's lack of tolerance for Baidu will be much higher. "

" in one of the main business income of the company is amazing it is difficult to do innovation, "a group of Alibaba executives told the" financial "," even if is the same for Google, but if a company only succeeded in a product, it is difficult to say that it is the vision or luck. "A WeChat employee

told the" financial ", everyone laughed at Baidu today, but he believes that the Tencent and the Alibaba today are not dominant advantage, once the emergence of new technology through the crisis, close at hand.

in many ways, Baidu has the advantage of leading the world in the Chinese company, which has an advantage in terms of data and expertise. According to foreign media reports, at present, Baidu depth speech recognition system was selected by the Massachusetts Institute of Technology, the 20 thousand and 160 breakthrough technology, speech recognition accuracy rate has reached 97%, more than Google.

Baidu is one of the largest companies in the world to invest in artificial intelligence technology. Within the past three years, Baidu's R & D costs accounted for 15.3%, 14.2% and 12.9%, respectively, while Google was 12.9%, 14.9% and 16.3%, respectively, an upward trend. They are trying to open up the territory in the search business, even if the search revenue still accounted for Google and Baidu's total revenue of 90% and 96%.

no car may be the next Baidu truly innovative products - although the process will be extremely difficult. But its greater significance lies in that it will be the first Baidu and search, and even the information unrelated to commercial products.

two years ago, Baidu invested $300 million to build an artificial intelligence center in Silicon Valley, the center currently has more than 200 employees, a large part of them for the Baidu automatic driving service. Wang Jin, general manager of the unmanned business unit in March this year to accept the financial reporter, said that no one will be the largest Baidu so far in the capital investment projects.

"finance and economics" was informed that the recent Baidu 5 years to increase the size of the loan from $1 billion to $2 billion, has been obtained from 21 banks lending commitments. Robin Li said the money will be used for unmanned vehicles, degree secretaries, business cloud and other new product lines to support.

contrast BAT in the other two - Alibaba in March has signed a $5 3 billion year loan agreement, the Tencent is planning to expand the $2 billion of bank loans to $4 billion. The purpose of these loans are used in domestic and foreign enterprises to acquire shares "and" to include the acquisition, expansion project".

"although the adjustment of competitive ranking will bring revenue decline, but the price is that we have to accept the. Robin Li said.

Baidu has been trying to create a new outside the search, the size of the source of income. Robin Li said that too.

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