So quickly I realized that we were too optimistic about the future of Internet in China.

很快我就意识到,对于中国互联网的未来看的太过乐观。

斯坦福公开课 - 百度CEO李彦宏演讲：全球最大搜索引擎的发展课程节选

When we brought US$1.2 million back to China, it was like peanuts comparing to a lot of other Internet startups in China.

当我们成功融资120万美元回到中国,相比其他新兴互联网公司,这些钱简直就是九牛一毛。

斯坦福公开课 - 百度CEO李彦宏演讲：全球最大搜索引擎的发展课程节选

I think that's the three most important reasons for what happened in the Internet space in China.

以上这些就是主要的三个原因,来解释中国互联网市场的现状。

斯坦福公开课 - 百度CEO李彦宏演讲：全球最大搜索引擎的发展课程节选