It has been roughly 20 years since the establishment of the “Three Great Portals" - Netease, Sina, and Sohu. The history of China’s rapidly evolving information industry is just as magnificent as the first and second Industrial Revolution. The market value of the entire industry has grown exponentially from under a hundred billion in 2004 (the year I ‘strayed' into the venture capital business) to around 700 to 800 billion today. Tencent's market value went from about 1 billion US Dollars at its IPO in 2004 to 260 billion US dollars today. It has since been recognized as one of the most valuable Asian companies, along with Alibaba.

Cao Yi established Source Code Capital in 2014. Today, the company’s investments span numerous segments, including Internet finance, industrial Internet, gaming, media and entertainment, online-to-offline, as well as the increasing presence of Chinese virtual/digital products in the global market.

In 2015, the success rate of China’s Internet companies was only around 5%. “how can one increase the success rate of one’s company,” or “how does one achieve breakthroughs under the shadows of Internet giants like Tencent and Alibaba”?