Bill Gates: Baidu is not easy to beat Google in the search market

Editor’s Note: recently, Bill Gates participated in United Kingdom financial times (Financial Times) on “FT 2015” leadership and Innovation Forum, Gates talked about innovation in technology, science and technology bubble, as well as renewable energy and climate change.

Following is the interview text, sorting from Tencent technology:

Q: why do you think innovation is accelerating?

Gates: the magic of software is that it can deal with all kinds of issues, and copying costs are negligible. Change in the next 50 years will be over the past 250 years.

Q: in the world of the movie Blade Runner, robots will take over the world. Do you think that the world is still very far away, and we don’t have to worry about?

Gates: for a considerable amount of time, the robot will be friendly.

Q: do you think that workers be replaced will be a very serious problem. So what areas most at risk?

Gates: high schools and the educational level of workers will be replaced. We are fast destroying manufacturing jobs, this is a good thing. This will reduce product cost, and people will need more. This also means that, if not very well educated population, will be affected by this. And if you want to create jobs, you will need to provide subsidies. bluetooth mini speaker

Q: who will provide subsidies?

Gates: Government and society if they expect people to employment.

Q: Uber economy, what do you think of London taxi drivers say?

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Gates: the real problem is that no one is driving a car. Uber just reorganized the labor resources, making it more dynamic. The real revolution will be based on the machine.

Q: are there too many companies involved in the fields of science and technology today?

Gates: who invented the “steam engine” of people, if you see them, you might think, they’re a bunch of arrogant assholes. But changing the world is still “steam engine”, other issues irrelevant. bluetooth portable speaker

Q: the technology company’s valuations are too high?

Gates: I don’t think number of IPO (initial public offering) technology company before, but I’m not bearish. Indeed, many of these companies have high valuations. But the fact is, these companies to change the rules of the game, such as drug discovery, agriculture, communications, media and entertainment.

Q: so, we have not seen the tech bubble?

Gates: the problem is not as serious as a 2000 to 2001 March. But they still have a few pre-IPO companies cannot go on.

Q: can you talk about, how we respond to climate change?

Gates: people were misled. For example, in the use of solar panels, they might think that as long as the light conditions during the day is good, then you can replace the traditional sources of energy. Say this is boring, because you still need to keep the living room warm during the night. This type of system is the key to reliability. You may not need an exterior energy during the day, but by night, you still need a traditional power plant. We are trying to implement a 30% solution, but with the creative bottleneck. And as these devices get a subsidy and therefore not competitive from an economic point of view.

Q: tell us a little about the “high flow” situation.

Gates: energy exists in many parts of the Earth, one of the jets. Different from the near-surface wind, the Jets almost always exists. However, the use of such energy is very difficult, because you need a kite-like structure, surface altitude of 20,000 feet (6096 meters). You need to study, and if at such high altitude gain energy, then what kind of transmission system? You need to deal with the weather to ensure continuous power generation. Some innovative companies in this field.

Asked about the role of Government. United States former President Ronald Reagan has said, most terrifying words in the English language are: “I’m from the Government and I’m here to help you. “Do you agree with such a view?

Gates: to solve these problems, the Government played a vital role in the process. Voices of the poor, the poor little market value. Therefore, the Government needs most responsible for non-profit activities and charities to take small. You can imagine, the Government away from the education, justice and energy. Somalia is such a test.

Q: you once said, success is a lousy teacher. So what is the specific meaning?

Gates: all very successful people had been misled by some. They do not understand the real magic of luck and ability elements. They should be more involved in the failure of some activities.

Q: what has been your biggest failure?

Gates: Microsoft, I failed to include search marketing, mobile marketing, as well as many other areas.

Q: If you want to want to be innovators provide a piece of advice for young people, then what is?

Gates: technology is changing everything. Entrepreneurs are using technology to a group of people, but the real game-changing technology. If you wish to promote the change, you need to choose some kind of advanced technologies and to participate in it.

Q: you said it, more than 20 years old you are very busy, so now this is still the case?

Gates: in my more than 20 years old, I do not believe that a vacation, not to believe in the weekend. They told me that I need to attend Board meetings, so I still need to go to the company on Saturday morning. Now, I’m not as enthusiastic as more than 20 years, 30 years old. I was focused on one thing, namely, day and night building a good software company. I know all the staff car, I can tell them when to work and when off duty. But as he grew older, no one can maintain the strength. At present, I have family and friends, I believe that the holiday and weekend, but has not reached the level of leisure of Europe.

Q: moving away from fossil fuels, investing in renewable energy sources and energy storage devices, what do you think of this?

Gates: I think the reduction of fossil fuels and addressing climate change without a clear relationship between. Students are concerned, as well as the Pope’s concerns is a good thing. But we should pay more attention to programmes to address this issue.

Q: you mentioned a number of private technology companies are overvalued. Uber valued at $ 50 billion, Palantir for $ 20 billion, while the Snapchat more than $ 15 billion, which company valuations are too high?

Gates: when Microsoft worth 500 billion dollars, taking into account inflation-we are the world’s most valuable company. I asked Buffett, for a company is overvalued, CEO should be how to do? Should I say, our valuations are too high? This is an interesting case. Even if you know the company’s future profits will be 3 times of the current times, such valuation multiples higher.

At that time, many companies use stock options as incentives. You have given them enough stocks, so that they can purchase their summer vacation villas. You will find that after a period of time, they took all of the villas, but nothing later, because expectations have been fulfilled. Therefore, we no longer will be an important part of stock options as compensation.

Q: How do you feel about Alibaba, the company, as well as China’s role in the global digital industry?

Gates: us and European companies trying to enter the Chinese market, and Chinese companies are trying to develop the United States market, the success of these initiatives deserve attention. So far, they have not been too successful. Unless there is a real change in the rules of the game, otherwise the situation is very difficult. From my personal experience, Baidu is not easy to beat Google in the search market.

Q: in the process of opening up the global market, Chinese companies should improve corporate governance?

Gates: well, Murdoch whether he needed to change his corporate governance? I’m not sure, for the success of future businesses of the company, corporate governance is a key factor. These are world-class companies, are conducting world-class research.

Q: can you talk about some lessons in your early career?

Gates: in my more than 20 years old, one of my basic theory is that IQ is most important. I’ll recruit outstanding physicists, biologists, and all the rest of the wise men, and assign tasks to them. Due to the high IQ, so they will find a way to complete the task.

I thought that I should not let smart people working for stupid people, we will have the intelligence hierarchy. However this situation did not last for a very long time. At the age of 25, I find intelligence in a variety of formats to display. Some knowledge of marketing and management, and the negative correlation with IQ. It made me very confused.

Q: your Foundation for the Bill and Melinda Gates Foundation. If you do not have to marry Melinda, this is going to be your career development path?

Gates: when Melinda and I had just met, and we have discussed how as a clever way to give back to the society wealth, and it is the responsibility of our lives. There is no doubt that her ideas shaped our vision of the Foundation.

Then Deputy Editor of the financial times John Thornhill (John Thornhill) personal interviews on Gates, this interview focuses on his second career–charities, as well as the successes and failures of Microsoft, the following video:

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