Plum Ventures Founding Partner Wu Shichun: AI Investment No Longer Pays for Flashy Demos and Grand Narratives

Deep News17:40

At the 2026 Sustainable Global Leaders Conference, Wu Shichun, Founding Partner of Plum Ventures, attended the forum on "Long-Term Capital and Resilient Growth" and stated that entrepreneurship has now shifted from model innovation and traffic supremacy to value innovation and results supremacy.

AI investment no longer pays for dazzling demos and grand narratives. All questions boil down to one thing: has value increment been created?

He pointed out that the valuation logic is also switching, from PE and PS to MSR: the consumer sector is still calculated by PE, ordinary technology sectors by PS, and China-US competition industries by MSR, priced according to scarcity.

After the value anchor returns, companies that only have technical demonstrations, rely entirely on open-source repackaging, and have no resource barriers will die off in large numbers.

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