The second day of the Techcrunch Beijing 2014 is well under way, and the first keynote speaker this morning is Dave McClure, founder of accelerator 500 Startups. For markets that have access to 50-100 million users (such as Japan) there is no need to go global, said McClure. McClure also highlighted that there is a large growing global market, especially markets that speak English, Mandarin, Spanish and Arabic. In terms of investment, McClure advised investors not to treat startups as real estate by pouring a lot of money into a few startups because of the high failure rate. Instead, he advocates taking a portfolio approach, investing in 20-50 startups instead of placing all one’s eggs in just two to three baskets.