評論
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You know, Baidu was founded at the beginning of 2000,
百度成立于2000年初
and quickly NASDAQ reached its historical high of 5,000.
不久，納斯達克指數創下5000點的新高
I remember it was March of 2000.
那是2000年的3月
Then it dropped to about 1100 a little over a year later.
但是，一年多時間里又跌回1100點
That is a very difficult time for people
對于互聯網行業來說
in the Internet industry.
那是一段困難時期
I think it's much severe than what you have experienced in
甚至比過去兩年的經濟形勢
the past year or two for the general economic situation.
還要嚴峻
During that time, it's just the very early
那段時期
days of Baidu's startup experience.
正逢百度成立
That's why when we officially entered the recession or the
由于金融危機而導致的經濟衰退
challenging situation caused by the financial crisis,
使得公司處于困境
I keep asking myself, "What should we do?"
我一直自問，我們能做些什么？
What I learned during the last downturn,
能從上一次經濟蕭條中學到什么
especially in the early 2000
特別是在2000年初
that when the Internet bubble burst,
互聯網泡沫破滅的時候
I guess, some of you still remember,
大家可能還記得
it's quite an experience for many of the companies and many
那是一段不平常的經歷
of the people who work for those Internet companies.
對互聯網產業影響深刻
We were lucky to raise the first round of
幸運的是，我們在泡沫破滅之前
money before the Internet bubble burst.
完成了第一輪融資
But the challenge is that we really didn't
但問題是
have a business model at that time.
那時公司沒有一個商業模式
We didn't have a feasible business model,
或者說沒有一個
let's put it this way,
可行的商業模式
because when we started,
因為公司成立初期的商業模式
the business model is to provide the backend search
是給門戶網站公司
technology to the portal companies in China.
提供后臺搜索技術
We did that, we came up with very good
我們開發了
Chinese search engine technology,
很好的中文搜索引擎技術
and we signed up a lot of the Chinese portals
并在短期內，和許多門戶網站公司
in a very short period of time.
簽了合約
That includes SINA, Sohu, Netease, Yahoo!
包括，新浪，搜狐，網易，雅虎中國
China, and any major portal company
以及其他主要的
you can think of in China.
門戶網站公司
