{"events": [{"year": 2007, "title": "家里的电话", "eventId": "ev_new_family_pressure", "outcome": "你给妈妈看了一个你投的项目上了新闻的报道。她虽然不太懂，但很开心。'那我跟王阿姨说，我儿子投的公司上电视了。'Health+5，Network+2。", "choiceIndex": 0}, {"year": 2008, "title": "马拉松完赛", "eventId": "ev_health_milestone", "outcome": "你用了2小时45分钟完成了半马。冲过终点线的那一刻你哭了——不是因为累，而是你意识到生活中不只有BP和term sheet。Health+15，Network+5（一起跑步的行业朋友）。", "choiceIndex": 0}, {"year": 2009, "title": "跨部门协作", "eventId": "ev_new_cross_dept", "outcome": "你坚持要签一份合作协议，明确收益分成。对方不太高兴但同意了。项目后来成功了，你拿到了应得的份额。Track Record+2。", "choiceIndex": 0}, {"year": 2010, "title": "副业诱惑", "eventId": "ev_new_side_hustle", "outcome": "你拒绝了。朋友说：'你太保守了。'但你知道分心是VC的大忌。Track Record+2。", "choiceIndex": 1}, {"year": 2011, "title": "创始人的礼物", "eventId": "ev_anecdote_founder_gift", "outcome": "你写了一封详细的反馈邮件。创始人后来告诉别人——你的反馈让他修改了产品的三个关键设计。Network+13。", "choiceIndex": 0}, {"year": 2012, "title": "联合投资邀约", "eventId": "ev_network_coinvest", "outcome": "你第一次以领投方的身份出现在行业媒体的报道中。虽然这个deal本身回报一般，但你的名字开始被更多圈外人知道了。AUM+5，Track Record+2，Network+3。", "choiceIndex": 0}, {"year": 2013, "title": "招人季", "eventId": "ev_new_team_expansion", "outcome": "你招了第二选择。虽然没有第一名那么亮眼，但踏实肯干。Track Record+1，Network+3。", "choiceIndex": 1}, {"year": 2014, "title": "大单来袭", "eventId": "ev_chain_bigclient", "outcome": "你调动了自己的所有关系，帮公司招到了关键人才、对接了合作伙伴。项目交付成功，公司迈上了新台阶。Network+8，Track Record+6。", "choiceIndex": 0}, {"year": 2015, "title": "老同学的微信", "eventId": "ev_new_old_friend", "outcome": "你把朋友引荐给了一个熟悉的LP。LP看了BP后没投，但你们的人情还在。朋友很感激。Network+8，Health-2（人情债也是债）。", "choiceIndex": 0}, {"year": 2016, "title": "洗手间的偶遇", "eventId": "ev_anecdote_bathroom", "outcome": "他礼貌地点了点头，擦了手就走了。你意识到——在这种级别的投资人面前，你的项目根本不值一提。你错过了从他那里得到真正有价值建议的机会。", "choiceIndex": 1}, {"year": 2017, "title": "总部视察", "eventId": "ev_new_vip_visit", "outcome": "你花了三天准备了完美的汇报材料。视察官对你的表现很满意，但你的其他工作堆积了一周。Network+8，Health-6。", "choiceIndex": 0}, {"year": 2018, "title": "老股转让", "eventId": "ev_chain_secondary", "outcome": "你转让了30%的老股，收回了当初投资的12倍。LP非常满意——这是基金成立以来第一次有现金回报。AUM+20，Track Record+4。", "choiceIndex": 0}, {"year": 2019, "title": "SPAC的诱惑", "eventId": "ev_anecdote_spac", "outcome": "SPAC流程确实快。公司挂牌了，估值确实翻了一倍——然后三个月后跌了70%。你帮LP在高位套现了一部分。AUM+15，Track Record-3。", "choiceIndex": 0}, {"year": 2020, "title": "新闻联播", "eventId": "ev_chain_news", "outcome": "你和创始人连夜开会，制定了业务收缩和公关策略。虽然痛苦，但主动调整总比被动挨打好。AUM-6（业务缩水），但避免了更大的损失，Health-7。", "choiceIndex": 0}, {"year": 2021, "title": "彻夜未眠", "eventId": "ev_anecdote_sleepless", "outcome": "创始人慷慨激昂的陈词打动了投委会。追加投资获批。但六个月后数据没有恢复——\"季节性波动\"变成了\"结构性下滑\"。你学到了一个昂贵的教训，AUM-10，Track Record-7。", "choiceIndex": 1}, {"year": 2022, "title": "Carry分配", "eventId": "ev_new_equity_review", "outcome": "你放弃了Carry的争夺，转而要求：以后1000万以下的项目你自己拍板。合伙人同意了——这比Carry更值钱。Track Record+3，Network-3。", "choiceIndex": 2}, {"year": 2023, "title": "媒体采访", "eventId": "ev_career_interview", "outcome": "PR团队赞赏你的谨慎。但错过了这次曝光机会，你的同行上了那篇采访。你读完后发现——其实也没什么大不了的。", "choiceIndex": 1}, {"year": 2024, "title": "第一次投委会", "eventId": "ev_career_first_ic", "outcome": "你的pre得到了三个合伙人一致点头。mentor拍了拍你的肩膀。Track Record+4，Health-5。", "choiceIndex": 0}, {"year": 2025, "title": "体检报告", "eventId": "ev_health_gym", "outcome": "你每天早上六点起床跑步，戒掉了加班时的泡面和啤酒。三个月后复检，指标大幅改善。Health+12。当然——少了很多社交饭局，Network-3。", "choiceIndex": 0}, {"year": 2026, "title": "春节的问候", "eventId": "ev_anecdote_cny", "outcome": "你给mentor、一个你信任的创始人、和一个长期支持你的LP分别发了不一样的新年祝福。他们的回复让你觉得——在这个浮躁的行业里，真诚依然是一种竞争优势。Network+8。", "choiceIndex": 0}], "investments": [{"year": 2006, "amount": 8, "isLead": true, "sector": "pc_internet", "status": "resolved", "outcome": "breakeven", "projectId": "p_2005_portal", "outcomeText": "用户增长到百万级遇到瓶颈，资金耗尽前以成本价出让。", "projectName": "潮汐门户", "maturityYear": 2008, "returnMultiple": 1.1199333776719869}, {"year": 2007, "amount": 6, "isLead": true, "sector": "pc_internet", "status": "resolved", "outcome": "failure", "projectId": "p_2006_job", "outcomeText": "流量获取成本远超预期，资金耗尽。", "projectName": "招才猫", "maturityYear": 2009, "returnMultiple": 0}, {"year": 2008, "amount": 5, "isLead": true, "sector": "gaming", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2008_game2", "outcomeText": "精品页游在细分玩家群中站稳，稳定盈利回报3倍。", "projectName": "烽烟游戏", "maturityYear": 2009, "returnMultiple": 2.446071531136986}, {"year": 2009, "amount": 14, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2009_im2", "outcomeText": "在垂直人群（游戏/校园）中找到差异化空间回报3倍。", "projectName": "轻语", "maturityYear": 2010, "returnMultiple": 6.6564592395164075}, {"year": 2010, "amount": 5, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2009_appstore", "outcomeText": "手机厂商预装商店成为主流，第三方商店边缘化。", "projectName": "应用集市", "maturityYear": 2013, "returnMultiple": 0.8950216612778604}, {"year": 2011, "amount": 13, "isLead": true, "sector": "saas", "status": "resolved", "outcome": "breakeven", "projectId": "p_2011_cloud", "outcomeText": "大厂云服务降价倾销，创业公司利润被挤压殆尽。", "projectName": "云鹏科技", "maturityYear": 2012, "returnMultiple": 1.014452304784209}, {"year": 2012, "amount": 5, "isLead": true, "sector": "saas", "status": "resolved", "outcome": "breakeven", "projectId": "p_2012_analytics", "outcomeText": "友盟被阿里收购后开始免费化，第三方工具边缘化。", "projectName": "数析科技", "maturityYear": 2014, "returnMultiple": 0.8944254586473108}, {"year": 2013, "amount": 14, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2016_newretail2", "outcomeText": "在社区店模型跑通后稳健扩张回报3倍。", "projectName": "果速达", "maturityYear": 2014, "returnMultiple": 2.421502553508617}, {"year": 2014, "amount": 12, "isLead": true, "sector": "o2o", "status": "resolved", "outcome": "failure", "projectId": "p_2013_food", "outcomeText": "食品安全事故+学生中毒事件，品牌崩塌。", "projectName": "味达外卖", "maturityYear": 2015, "returnMultiple": 0}, {"year": 2015, "amount": 11, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "breakeven", "projectId": "p_2015_overseas_tool", "outcomeText": "亚马逊自建工具免费化，第三方SaaS被边缘化。", "projectName": "越境通", "maturityYear": 2016, "returnMultiple": 0.9953398517332972}, {"year": 2016, "amount": 10, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2015_knowledge", "outcomeText": "知识付费退潮+盗版泛滥，GMV持续走低。", "projectName": "蝉鸣课堂", "maturityYear": 2019, "returnMultiple": 0.9552876366302372}, {"year": 2017, "amount": 16, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2015_ai", "outcomeText": "产品和销售遇到瓶颈增长放缓，被国内云厂商低价收购。", "projectName": "灵智科技", "maturityYear": 2020, "returnMultiple": 1.1958694375120105}, {"year": 2018, "amount": 26, "isLead": true, "sector": "semiconductor", "status": "resolved", "outcome": "breakeven", "projectId": "p_2019_semi", "outcomeText": "技术路线验证但商业化缓慢，被产业链整合回报接近成本。", "projectName": "芯元芯片", "maturityYear": 2021, "returnMultiple": 1.1551057416945696}, {"year": 2019, "amount": 18, "isLead": true, "sector": "healthcare", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2020_medai", "outcomeText": "在肺结节和眼底筛查两大场景建立壁垒回报4倍。", "projectName": "睿医科技", "maturityYear": 2020, "returnMultiple": 3.942457584477961}, {"year": 2020, "amount": 26, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "failure", "projectId": "p_2021_ev_battery", "outcomeText": "实验室数据无法在产线上复现——这是硬科技最常见的死法。", "projectName": "锂能科技", "maturityYear": 2022, "returnMultiple": 0}, {"year": 2021, "amount": 31, "isLead": true, "sector": "semiconductor", "status": "resolved", "outcome": "huge_success", "projectId": "p_2019_chip2", "outcomeText": "在安防和自动驾驶领域找到杀手场景，被地平线收购回报25倍。", "projectName": "星际半导体", "maturityYear": 2024, "returnMultiple": 21.281976457089183}, {"year": 2022, "amount": 14, "isLead": true, "sector": "fintech", "status": "resolved", "outcome": "breakeven", "projectId": "p_2024_web3", "outcomeText": "中国明确禁止加密货币相关业务，国内业务全部关停。", "projectName": "链启未来", "maturityYear": 2023, "returnMultiple": 0.9772692950442434}, {"year": 2022, "amount": 18, "isLead": true, "sector": "aigc", "status": "resolved", "outcome": "breakeven", "projectId": "p_2022_aigc_text", "outcomeText": "大模型太烧钱A轮后无法继续融资，团队被大厂收编收回成本。", "projectName": "语思科技", "maturityYear": 2024, "returnMultiple": 0.8762024088762701}, {"year": 2023, "amount": 23, "isLead": true, "sector": "healthcare", "status": "resolved", "outcome": "failure", "projectId": "p_2023_aidrug", "outcomeText": "核心管线临床失败——这是制药行业每天都在发生的事，AI并没有改变概率。", "projectName": "创药科技", "maturityYear": 2025, "returnMultiple": 0}, {"year": 2023, "amount": 29, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "huge_success", "projectId": "p_2023_space", "outcomeText": "连续三次成功发射后被国家航天局纳入供应商体系回报35倍。", "projectName": "星际航天", "maturityYear": 2026, "returnMultiple": 30.742199500352143}, {"year": 2024, "amount": 21, "isLead": true, "sector": "aigc", "status": "pending", "outcome": "huge_success", "projectId": "p_2025_aigc_video", "outcomeText": "在电商视频生成场景做到极致，被字节收购回报30倍。", "projectName": "幻象科技", "maturityYear": 2027, "returnMultiple": 29.964225090807304}, {"year": 2024, "amount": 14, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "failure", "projectId": "p_2024_overseas_ai", "outcomeText": "翻译质量被用户群嘲，品牌声誉一落千丈。", "projectName": "AI远航计划", "maturityYear": 2025, "returnMultiple": 0}, {"year": 2024, "amount": 18, "isLead": true, "sector": "aigc", "status": "resolved", "outcome": "breakeven", "projectId": "p_2022_aigc_code", "outcomeText": "大厂推出免费竞品，独立工具的生存空间被急剧压缩。", "projectName": "码力科技", "maturityYear": 2026, "returnMultiple": 0.8326619160361588}, {"year": 2025, "amount": 25, "isLead": true, "sector": "semiconductor", "status": "pending", "outcome": "breakeven", "projectId": "p_2022_quantum", "outcomeText": "技术路线重大调整，之前的研发投入全部打水漂。", "projectName": "量子飞跃", "maturityYear": 2028, "returnMultiple": 1.1409324576146902}, {"year": 2025, "amount": 26, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2024_embodied", "outcomeText": "具身智能的ChatGPT时刻迟迟不来，烧完钱后估值腰斩。", "projectName": "灵巧机器人", "maturityYear": 2026, "returnMultiple": 1.167833580914885}, {"year": 2025, "amount": 25, "isLead": true, "sector": "ai", "status": "pending", "outcome": "moderate_success", "projectId": "p_2025_embodied2", "outcomeText": "在汽车总装环节实现柔性自动化突破回报4倍。", "projectName": "灵巧对手——铁臂科技", "maturityYear": 2028, "returnMultiple": 4.6990865569585}, {"year": 2026, "amount": 25, "isLead": true, "sector": "aigc", "status": "pending", "outcome": "moderate_success", "projectId": "p_2022_aigc_rival", "outcomeText": "在视频理解和生成场景找到PMF回报5倍。", "projectName": "言思的对手——万象智能", "maturityYear": 2028, "returnMultiple": 14.75277116834186}, {"year": 2026, "amount": 21, "isLead": true, "sector": "aigc", "status": "pending", "outcome": "huge_success", "projectId": "p_2025_aicustomer", "outcomeText": "在银行和保险行业大量部署，替代人工客服50%工作量回报12倍。", "projectName": "语小助", "maturityYear": 2030, "returnMultiple": 8.537414352362976}]}