July 22nd news, this morning, happy network founder Cheng Binghao published an open letter, the depth of reflection on the network in eight years of mistakes and missed opportunities. Yesterday morning, happy net the United States listed 5 failed, will return to A shares, while founder Cheng Binghao announced his resignation.

Cheng Binghao summary, happy network from 2010 began to decline in user activity, and finally become a mobile phone game company, is no longer a platform company. As for the ultimate cause of this outcome, he believes that neither false nor happy net, micro-blog WeChat, but in two, one is to steal food to stop, also has the life cycle; the two is not just a social acquaintance, to become the largest pillar of a product.


the following is the full text of the open letter:

in 2008, I and several colleagues of sina founded Kaixin (Beijing Kaixin Information Technology Co., Ltd.), until now (2016) I left, a total of eight years, this is my own summary and farewell to the past eight years.

actually I thought a summary is far from complete, this text sums up the lack of more tricks, but the enthusiasm of many friends care and attention I received yesterday, the mobile phone battery used up soon, especially the media friends raised a lot of questions, but now a rush rush. Maybe in a few years, I can do a happy net summary 2.

happy network the most brilliant time, has been numerous interpretation (including my own interpretation), I am here mainly from the perspective of brilliant interpretation.

in 2009, many people think that happy net has the opportunity to become a super Internet Co, but I failed investors and employees is happy, the net was started from 2010 to user activity decline, and finally transformed into a mobile phone game company, is no longer a platform company, 2015 profit of tens of millions of large happy people. This is the crystallization of people happy smart and struggle, but indeed from 09 years to see the "best possible" from. Why?

The following is about

, I saw the reason, but this is certainly not the final answer to this question, a replay this is my personal do, welcome.

first find the reason from the person, my personal limitations:

I start before no comprehensive unified management over a line of business, mainly engaged in products and technical management, for sales, market, investment and financing, corporate strategy, corporate governance, financial, legal, no practical experience, some of the media commented that I "not enough business".

does not focus on the management of non product technical personnel, such as sales, marketing, business development, management and technical personnel of these people is completely different, for me to have a learning process.

I like to set high goals for myself. There are no difficulties to create difficulties.

typical work