{"events": [{"year": 2007, "title": "TS拉锯战", "eventId": "ev_anecdote_ts_drama", "outcome": "你礼貌地退出了竞争。\"估值不是一切\"——你对创始人说。两周后创始人又联系了你：对方在尽调中发现了问题撤回了TS。你现在有了谈判的主动权，Track Record+4。", "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": "大单来袭", "eventId": "ev_chain_bigclient", "outcome": "创始人听了你的建议，在服务大客户的同时没有放弃中小客户。后来大客户确实缩减了预算，但公司没有伤筋动骨，Track Record+2。", "choiceIndex": 1}, {"year": 2010, "title": "标题党", "eventId": "ev_anecdote_media_misquote", "outcome": "你花了一整天时间给每个被投公司的CEO打电话解释。他们大多表示理解——但有一个CEO说：\"我希望下次如果你要公开说什么，先告诉我们一声。\"Network+5，Health-2。", "choiceIndex": 0}, {"year": 2011, "title": "年终排名", "eventId": "ev_career_ranking", "outcome": "MD坦诚告诉你——不是你不好，是今年的明星项目恰好都在别人手上。耐心等待，机会会来。Network+8。", "choiceIndex": 1}, {"year": 2012, "title": "团建翻车", "eventId": "ev_new_team_dinner", "outcome": "你利用这个意外场景，把几个平时见不到的跨部门同事拉到了一起。效果出奇地好——人在脆弱的时候更容易合作。Network+7，Health-5。", "choiceIndex": 2}, {"year": 2013, "title": "Carry的传说", "eventId": "ev_anecdote_carry_talk", "outcome": "你坦诚的回答引来了两种反应——有人在笑，有人点了头。一位比你资深的合伙人私下说：\"能承认这一点，说明你有自知之明。大部分吹自己carry的人都在撒谎。\"Network+8。", "choiceIndex": 0}, {"year": 2014, "title": "电梯演讲", "eventId": "ev_new_elevator_pitch", "outcome": "你聊了十分钟宏观经济和企业数字化。企业家礼貌地交换了名片，但你能感觉到他没有被打动。Network+4。", "choiceIndex": 1}, {"year": 2015, "title": "朋友圈风波", "eventId": "ev_chain_founder_wechat", "outcome": "你发了一条微信：\"最近压力大？出来喝一杯？\"创始人秒回：\"不好意思，不是说你。\"但你注意到他删除了那条朋友圈。Network+5。", "choiceIndex": 0}, {"year": 2016, "title": "竞对的谣言", "eventId": "ev_anecdote_rival_fund", "outcome": "你发了一份详细的portfolio更新，数据充分、逻辑清晰。LP们不仅没有被谣言影响，反而对你更加信任了。Track Record+6。", "choiceIndex": 0}, {"year": 2017, "title": "IPO窗口期", "eventId": "ev_new_ipo_window", "outcome": "你选了最稳的项目。过会很顺利，但市场反应平平。Track Record+3，Network+3。", "choiceIndex": 1}, {"year": 2018, "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}, {"year": 2019, "title": "技术突破", "eventId": "ev_chain_breakthrough", "outcome": "你以最快速度完成了追加投资的流程。三个月后公司的估值翻了五倍。AUM+15，Track Record+7。", "choiceIndex": 0}, {"year": 2020, "title": "天上掉馅饼", "eventId": "ev_new_random_luck", "outcome": "你果断投了。一年后这个项目估值翻了三倍。Track Record+4，AUM-6。", "choiceIndex": 0}, {"year": 2021, "title": "监管约谈", "eventId": "ev_new_regulatory_call", "outcome": "你动用了所有关系，找到了一个前监管官员做顾问。合规整改方案很快出来了。项目保住了。Network+6，AUM-4（顾问费）。", "choiceIndex": 0}, {"year": 2022, "title": "赛道转换", "eventId": "ev_new_track_switch", "outcome": "你开始恶补新赛道的知识。前三个月很痛苦，但半年后你成了新赛道的半个专家。AUM-8（切换成本），Track Record+2。", "choiceIndex": 0}, {"year": 2023, "title": "屠龙的冲动", "eventId": "ev_career_startup", "outcome": "你礼貌地拒绝了。但回到办公室后，你看每一份BP的眼光都变了——你更理解那些数字背后的挣扎。Network+13（创始人们更信任你了）。", "choiceIndex": 1}, {"year": 2024, "title": "彻夜未眠", "eventId": "ev_anecdote_sleepless", "outcome": "第二天你给出了反对追加的理由。你的逻辑严密，投委会同意Pass。三个月后那家公司因为核心客户流失而陷入危机。你救了基金一笔钱。Track Record+6，Health-5。", "choiceIndex": 0}, {"year": 2025, "title": "竞业风波", "eventId": "ev_career_noncompete", "outcome": "你付了一笔和解费。虽然肉疼，但事情很快平息了。AUM-10。你觉得不值得但也没办法——在VC这行，扯上官司就是输了。", "choiceIndex": 1}, {"year": 2026, "title": "FA的BP轰炸", "eventId": "ev_anecdote_fa_bp", "outcome": "你花了三个小时读完了200页。第198页上写着免责声明：\"以上所有数据均为项目方提供，FA未进行独立核实。\"Health-2，但你对行业又多了一层理解。", "choiceIndex": 0}], "investments": [{"year": 2006, "amount": 17, "isLead": true, "sector": "pc_internet", "status": "resolved", "outcome": "failure", "projectId": "p_2007_antivirus", "outcomeText": "与杀毒巨头陷入公关战，被对手免费策略反噬，用户流失殆尽。", "projectName": "铁壁安全", "maturityYear": 2007, "returnMultiple": 0}, {"year": 2007, "amount": 12, "isLead": true, "sector": "pc_internet", "status": "resolved", "outcome": "breakeven", "projectId": "p_2006_search", "outcomeText": "Google退出中国后市场格局固化，公司转型企业搜索，勉力维持。", "projectName": "领航搜索", "maturityYear": 2008, "returnMultiple": 0.8924891913309694}, {"year": 2008, "amount": 5, "isLead": true, "sector": "gaming", "status": "resolved", "outcome": "breakeven", "projectId": "p_2008_game2", "outcomeText": "一款爆款后无以为继，团队被挖去大厂，公司名存实亡。", "projectName": "烽烟游戏", "maturityYear": 2011, "returnMultiple": 0.8860905633307994}, {"year": 2009, "amount": 8, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2010_reading", "outcomeText": "短视频崛起蚕食阅读时间，用户时长持续下降。", "projectName": "书香阅读", "maturityYear": 2012, "returnMultiple": 1.0862828455865383}, {"year": 2010, "amount": 17, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "failure", "projectId": "p_2012_ecom_mobile", "outcomeText": "供应链和物流投入不足，用户复购率持续走低。", "projectName": "掌上购物", "maturityYear": 2011, "returnMultiple": 0}, {"year": 2011, "amount": 5, "isLead": true, "sector": "gaming", "status": "resolved", "outcome": "breakeven", "projectId": "p_2010_mobilegame", "outcomeText": "一款大作失败后元气大伤，被收购仅收回成本。", "projectName": "灵跃游戏", "maturityYear": 2014, "returnMultiple": 1.1789063267409805}, {"year": 2012, "amount": 10, "isLead": true, "sector": "saas", "status": "resolved", "outcome": "failure", "projectId": "p_2012_office", "outcomeText": "功能被钉钉/企微完全覆盖，客户零成本迁移。", "projectName": "云协科技", "maturityYear": 2013, "returnMultiple": 0}, {"year": 2013, "amount": 9, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2017_edu", "outcomeText": "双减政策冲击所有K12赛道，少儿编程也未能幸免。", "projectName": "蒜头编程", "maturityYear": 2016, "returnMultiple": 0.9460475093685092}, {"year": 2014, "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": 2015, "returnMultiple": 1.0966802889481189}, {"year": 2015, "amount": 16, "isLead": true, "sector": "fintech", "status": "resolved", "outcome": "breakeven", "projectId": "p_2017_blockchain", "outcomeText": "监管突然出手禁止ICO，项目方跑路前你勉强拿回了本金。", "projectName": "链联科技", "maturityYear": 2018, "returnMultiple": 1.127715136948973}, {"year": 2016, "amount": 19, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "huge_success", "projectId": "p_2016_crossborder", "outcomeText": "被阿里巴巴国际站收购作为海外B端入口回报8倍。", "projectName": "购通全球", "maturityYear": 2019, "returnMultiple": 6.601070309532807}, {"year": 2017, "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": 2018, "returnMultiple": 0}, {"year": 2018, "amount": 12, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2020_privacy", "outcomeText": "技术很酷但客户不买单——隐私计算的ROI说不清楚。", "projectName": "暗盾科技", "maturityYear": 2019, "returnMultiple": 0.9896303683519364}, {"year": 2019, "amount": 32, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "failure", "projectId": "p_2021_autopilot", "outcomeText": "一起严重安全事故让监管全面收紧，公司无限期停摆。", "projectName": "驾途科技", "maturityYear": 2020, "returnMultiple": 0}, {"year": 2020, "amount": 21, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2021_cobot", "outcomeText": "工业巨头推出更具性价比的协作方案，创业公司无力竞争。", "projectName": "协智制造", "maturityYear": 2021, "returnMultiple": 1.1587958098389208}, {"year": 2020, "amount": 26, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "breakeven", "projectId": "p_2021_ev_battery", "outcomeText": "量产工艺迟迟无法突破，融资消耗殆尽被低价收购。", "projectName": "锂能科技", "maturityYear": 2022, "returnMultiple": 1.1374802144244314}, {"year": 2021, "amount": 31, "isLead": true, "sector": "semiconductor", "status": "resolved", "outcome": "failure", "projectId": "p_2019_chip2", "outcomeText": "国际供应链断裂，无法获得先进制程代工。", "projectName": "星际半导体", "maturityYear": 2022, "returnMultiple": 0}, {"year": 2021, "amount": 23, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "failure", "projectId": "p_2018_group_buying", "outcomeText": "巨头1分钱补贴碾压，团长被高额佣金挖走，业务全面溃败。", "projectName": "近邻优选", "maturityYear": 2023, "returnMultiple": 0}, {"year": 2022, "amount": 14, "isLead": true, "sector": "fintech", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2024_web3", "outcomeText": "合规化转型做数字版权交易平台回报3倍。", "projectName": "链启未来", "maturityYear": 2024, "returnMultiple": 6.502249288782477}, {"year": 2022, "amount": 14, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "breakeven", "projectId": "p_2024_overseas_ai", "outcomeText": "大厂推出免费竞品，独立工具的付费转化率远低于预期。", "projectName": "AI远航计划", "maturityYear": 2023, "returnMultiple": 0.9054668766446412}, {"year": 2022, "amount": 9, "isLead": true, "sector": "aigc", "status": "resolved", "outcome": "failure", "projectId": "p_2023_aisafety", "outcomeText": "OpenAI/Anthropic自研安全方案成为行业标准，第三方工具被边缘化。", "projectName": "校准智能", "maturityYear": 2024, "returnMultiple": 0}, {"year": 2023, "amount": 29, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2023_space", "outcomeText": "在遥感卫星星座组网中找到稳定订单回报4倍。", "projectName": "星际航天", "maturityYear": 2026, "returnMultiple": 15.124424164462834}, {"year": 2023, "amount": 25, "isLead": true, "sector": "semiconductor", "status": "resolved", "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": 2026, "returnMultiple": 1.0013373346999288}, {"year": 2023, "amount": 17, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "breakeven", "projectId": "p_2023_overseas", "outcomeText": "地缘政治导致主要市场被封，被迫收缩估值缩水。", "projectName": "远洋电商", "maturityYear": 2026, "returnMultiple": 0.891838306002319}, {"year": 2024, "amount": 34, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2023_fusion", "outcomeText": "聚变衍生技术(中子源/材料测试)意外找到商业应用回报5倍。", "projectName": "核聚动力", "maturityYear": 2025, "returnMultiple": 33.97841597288846}, {"year": 2024, "amount": 17, "isLead": true, "sector": "aigc", "status": "pending", "outcome": "breakeven", "projectId": "p_2024_digitalhuman", "outcomeText": "平台突然禁止AI数字人直播，所有客户一夜停用。", "projectName": "影分身", "maturityYear": 2027, "returnMultiple": 0.9322860282845796}, {"year": 2024, "amount": 28, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "failure", "projectId": "p_2025_lowalt", "outcomeText": "一起事故引发全社会对低空飞行安全的质疑，行业被监管冰封。", "projectName": "云翔科技", "maturityYear": 2025, "returnMultiple": 0}, {"year": 2025, "amount": 25, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "breakeven", "projectId": "p_2023_energy_storage", "outcomeText": "储能电芯价格雪崩，在手订单大面积取消估值腰斩。", "projectName": "蓄能未来", "maturityYear": 2026, "returnMultiple": 0.9592198344878852}, {"year": 2025, "amount": 25, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2025_embodied2", "outcomeText": "工业客户决策周期极长，烧钱速度跟不上签单速度。", "projectName": "灵巧对手——铁臂科技", "maturityYear": 2026, "returnMultiple": 1.1424169393256307}, {"year": 2025, "amount": 18, "isLead": true, "sector": "healthcare", "status": "pending", "outcome": "breakeven", "projectId": "p_2024_synbio", "outcomeText": "量产放大遇到瓶颈，产出效率远低于实验室水平。", "projectName": "创世纪元", "maturityYear": 2027, "returnMultiple": 1.078896661102772}, {"year": 2026, "amount": 23, "isLead": true, "sector": "healthcare", "status": "pending", "outcome": "breakeven", "projectId": "p_2023_aidrug", "outcomeText": "临床数据不如预期，AI制药的光环褪去融资困难。", "projectName": "创药科技", "maturityYear": 2028, "returnMultiple": 0.9756728248670696}, {"year": 2026, "amount": 21, "isLead": true, "sector": "aigc", "status": "pending", "outcome": "breakeven", "projectId": "p_2024_datalabel", "outcomeText": "GPT-5级别的合成数据质量远超人工，标注需求大幅萎缩。", "projectName": "标注先锋", "maturityYear": 2027, "returnMultiple": 1.1751060833223166}]}