梅花创投创始合伙人吴世春：保持足够耐心 早期投资在中国仍是“好生意”

Core Viewpoint - Current fundraising is challenging and the exit cycle is lengthy, with the time from angel round to IPO potentially taking about 12 years. However, early-stage investment in China remains a "good business" if sufficient patience is maintained [1] Investment Strategy - Invest in future scarcity rather than current trends [1] - Make independent judgments in non-consensus situations [1] - Only invest in projects with absolute confidence [1] - Be cautious of hype and technology bubbles [1] - Investment is counterintuitive and counter-cyclical; focus on "narrow paths" and "long roads" [1] - Timely error correction and loss-cutting are essential [1] Importance of Brand and Exit Strategies - Emphasize the importance of brand building and diversification of exit strategies [1]