42章经 × Oasis Capital | You've Received an Offline Podcast Invitation

In 1895, Italian inventor Guglielmo Marconi achieved the first successful long-distance radio wave transmission, earning recognition as the pioneer of radio technology. At the time, no one foresaw the invention's future significance. Over the following century, human communication would no longer rely on a single medium. Radio signals traveled from Europe to North America, across the Atlantic to the Pacific, and audio storytelling opened a new chapter in how people exchange and spread information.

Radio's defining moment came on November 2, 1920, when Westinghouse station KDKA, under Conrad's direction, began broadcasting. Its inaugural program: news of Warren Harding's presidential victory over James Cox. A century later, the emergence and evolution of podcasting has amplified countless voices, giving rise to entirely new forms of audio narrative. In just a few short years, podcasting has grown into a global industry — reshaping audio media entirely.

In the summer of 2023, Oasis Capital and 42 Chapters recorded a conversational podcast. Seventy minutes yielded over ten thousand followers and some invaluable feedback. Traditional Chinese medicine describes intangible vitality as one's "essence, energy, and spirit" — for founders, this might manifest as a gleam in their eyes. Oasis gives this entrepreneurial vitality more concrete form: "restraint when times are good, keeping your heart in check; resilience when times are hard, persisting through difficulty; continuous self-iteration and breakthrough evolution; transcending time and cycles." In post-investment work, financial and operational metrics matter, but they're ultimately outcomes. One thing we pay close attention to is the health and growth of the founder-CEO — this core asset, in a meaningful sense, determines a company's floor and ceiling over considerable stretches of time. We've been fortunate to witness some exceptional founders. In early or difficult stages, we might invest some capital and lend a hand. Further along, we're grateful they bring us along to discover new worlds. Investing inherently goes against human nature; it's a practice of self-cultivation with every deal. The elevation of vitality comes through repeated cycles of opening and closing, evolving and breaking through, ascending toward higher energy states. As the Yellow Emperor's Inner Canon puts it so well: "Rise and fall with all things through the gates of growth."

—— Vcer_Leon

From AI to new scenarios, to entrepreneurship, to long-termism, to philosophy — an hour packed with information. The later reflections on life experience and vitality could genuinely move you to tears.

The DAU segment completely rewired my thinking. Taking a data metric and reframing it as a personal pronoun — instantly opens up a new world.

The perspectives on information, imagination, and history are genuine insights you rarely hear through other public channels.

"Long-termism" truly requires surviving through cycles of ups and downs before you can genuinely understand its benefits and advantages. Otherwise it's just a concept everyone seems to love quoting, impossible to truly know and practice. —— Xingzhe

After using Xiaoyuzhou for so long, this is the only episode I've listened to three times.

—— Haley海

The 1987 film Radio Days contains a line: "Radio was a way of escaping from the depressing reality of the Depression." We believe that in our present era, our voices can bring inspiration and resonance to more people.

Nearly a year has passed, and Oasis is returning to the 42 Chapters podcast. For this session, we're inviting readers to join us for an in-person recording, to participate in completing this episode together. The discussion will circle back to a topic intimately connected with radio itself — high frequency and low frequency. In radio broadcasting, the different wavelengths produced by high and low frequencies determine transmission range and coverage. In investing, high and low frequencies interweave, representing the conviction and belief behind strategy. For this event, we've reserved twenty minutes of dialogue time, hoping to extend from the topic "AI, People, and Vitality" into different angles for thinking about this world, exploring new possibilities.