DEMOCHINA panel: Kunlun's Fang Han and VCs on when startups should speed up or slow down

创业邦 · wechat · 2026-10-17

At the 2026 DEMOCHINA panel "Fast and Slow for Tech Companies," Kunlun Tech's Fang Han, Joy Capital's Liu Erhai, Lenovo Capital's Lin Lin, and Daily Interactive's Fang Yi debated startup pacing:

Fang Han: timing the window is common sense—too early and you become roadkill, too late and you get nothing. Kunlun's AI short-drama workbench launched only after overseas distribution proved the market; in overheated tracks, "fast" means fighting the strongest teams.
Liu Erhai: only 4.7% of funded early-stage companies achieve scale; doubling down on Momenta reflects faith in the coming decade of auto intelligence. His strategy: "agility + fault tolerance," citing Situational Awareness's plunge from $45bn to $10bn in a week.
Lin Lin: before sprinting, ask whether it's a startup's or a big-tech's opportunity, whether the direction is right, and whether your technical moat is thick enough. Embodied AI may take 10-15 years; brain-computer interfaces and quantum computing are long-cycle bets. Pursue "speed at minimal cost."
Fang Yi: "fast when fast, slow when slow"; raise money fast, spend it slowly—burning marketing dollars before product experience is ready kills startups.
Parting advice: think independently and survive toughly (Fang Han); agility plus fault tolerance (Liu); find resonance between technology, industry, and passion (Lin).

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DEMOCHINA panel: Kunlun's Fang Han and VCs on when startups should speed up or slow down

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