For engineers in the internet industry, what comes to mind most often is the Scalability of systems — for example, how to improve a system as traffic, compute, and storage grow, with all kinds of horizontal and vertical scaling options. Besides services, the Scalability of a team is also critical.

1. People Matter More and More Why is the valuation of the internet industry significantly higher than that of manufacturing? Among equally excellent companies in their respective industries, Tencent’s PE is as high as 30+, while Gree’s PE is only 10+. The internet industry is characterized by being asset-light: no expensive complex equipment, no need for large production plants.