The Millennium Semiconductor Survival Guide

"Newman, everyone is waiting for you. If I remember correctly, this should be your first time in New York, to see Wall Street.

This is the financial center of the world. Wall Street has a very long history. We are very happy to see the arrival of new blood here today. "Henry Paulson led the Goldman Sachs team to welcome Zhou Xin at 10004 85th Street in the Financial District of Manhattan.

Unlike Jerry, who has hundreds of vice presidents at Goldman Sachs, Henry Paulson is an executive at Goldman Sachs and one of the nine members of the committee.

After George Doty joined Goldman Sachs at the earliest, Goldman Sachs established a management committee. At the beginning, there were eight members. Later, the entire management committee gradually increased to about 20 people.

The duo of Henry Paulson and Jon Kerzan spearheaded the change from the management board to the executive board, again reducing the size of the board to nine.

Henry Paulson is a powerful figure in the real sense of Goldman Sachs, ranking among the top two in Goldman Sachs' executive committee.

He joined Goldman Sachs in 1974, and later jumped from Goldman Sachs to the American government in 2006 as the Secretary of the Treasury. Although he sold all Goldman Sachs shares during his tenure as Treasury Secretary, he sent $12.9 billion to Goldman Sachs through AIG public funds during the financial crisis. Goldman Sachs was also the company that took the most AIG public funds at that time.

It was Henry Paulson who led Time Warner's acquisition of Quora.

After Time Warner was acquired, in just two months, its market value soared from the original 20 billion US dollars to 130 billion US dollars, surpassing Yahoo and becoming the first Internet company with a market value of over 100 billion on Nasdaq.

If you look at Time Warner as an Internet company.

The stock market performed so well that Time Warner did not make any changes to Quora, and Quora's products and services remained the same.

After the completion of the acquisition, Quora’s operating data was only made public through Time Warner. In Time Warner’s semi-annual report for the first half of the year, the number of paid users of Quora, the number of subscribers of Quora Golden Selection, and the profit of Quora were all included in Time Warner’s semi-annual report. the most notable part.

It was Quora's good performance that made Time Warner's market value soar, and this acquisition became another classic case of Henry Paulson.

Zhou Xin shook hands with Henry Paulson and a large group of Goldman Sachs executives behind him: "This is my first time in New York.

New York is more prosperous than San Francisco, and it is also a pleasure to meet all the elites in the financial industry.

Before I came to American to study abroad, I had the idea of ​​working on Wall Street. At that time, I thought that if I had no talent in scientific research, Wall Street would be the most suitable place for me. Because the salary here is enough. "

This was Zhou Xin’s idea when he just went to Berkeley in his previous life. At that time, he considered using his Ph.D. to work on Wall Street.

I forgot it later, mainly because Zhou Xin felt that he had a little talent in integrated circuits. Since he was talented, there was no need to go to the financial industry.

Henry Paulson: "Newman, if it's you, the Goldman Sachs committee wouldn't mind an extra seat."

Speaking of Henry Paulson, fortunately, he was the Secretary of the Treasury in 2006, and ten years later in 2016, he will be the Secretary of the Treasury in 2016. After 2020, he may not be sure how he will be investigated.

During his tenure on the Goldman Sachs committee, he visited China more than 70 times, and the English media claimed that he had a close relationship with the Chinese elite.

"Starting this afternoon, we will conduct a three-day roadshow on Wall Street in the next three days. Investors on Wall Street heard that Newman was coming, and their enthusiasm for participation was extremely high.

This is the most popular roadshow I have ever seen. All the investors I know are asking me when Newman will come. Remember to give them an invitation letter for the roadshow. "

The road show will involve all the management team of the company, not only the management team but also the accompanying daily office staff.

Later, Zhou Shouzi, who became popular all over the world because of his participation in the Tik Tok hearing, was previously an executive of Xiaomi.

During the Xiaomi Roadshow, I took a group photo with Lei Jun, Lin Bin and other six executives on Wall Street.

After a brief chat with Goldman Sachs, Aimo was Zhou Xin's secretary, responsible for helping him deal with various administrative tasks, and was recruited by Zhou Xin from the earliest law firm.

Aimo was the first to regard Zhou Xin as an available partner. Later, watching Zhou Xin rise like a rocket, and realizing that Zhou Xin was the best marriage partner she could get in touch with, she always wanted to have a breakthrough in relationship with Zhou Xin.

It's just that Zhou Xin didn't seem to be seduced by her at all, so that Ai Mo wondered if he was not attractive enough.

After leaving Goldman Sachs, Aimo looked at Zhou Xin with admiration, "Boss, generally other companies let Goldman Sachs take charge of the IPO, and Goldman Sachs will help them conduct roadshows in major cities such as Boston, Chicago, Los Angeles and New York to stimulate investment. People's interest in companies and IPOs.

Because these cities also have corresponding financial institutions, it is necessary to introduce this IPO project to enough institutional investors, analysts, fund managers and hedge funds.

But Riot Games doesn't use it, just because you are the boss behind Riot Games, and Newman's name is the best proof. "

Aimo has been in charge of docking with Goldman Sachs, and she has also been deeply involved in the listing of Riot Games, so she knows it is normal to be so specific.

It feels good to be flattered by a beautiful woman, but I have always been a beautiful woman. After a lot of experience, it’s just like that. Zhou Xin’s immunity has already been full: “Because of Time Warner’s good stock price performance.

In addition, the IPO price of Riot Games is not high, with a valuation of only 15 billion US dollars. There are too many Internet companies in Nasdaq that have a higher market value than Riot Games. However, no matter in terms of potential or current performance, Both are far worse than Riot Games.

Therefore, participating in the IPO fundraising of Riot Games is an opportunity for them to make money, and it is a big profit. No one will live with making money.

Not to mention that I hold an IPO roadshow in New York, even a slightly larger city has planes flying over. Even if I hold an IPO roadshow in Antarctica, a large number of investors will come to participate by icebreaker. "

Fist Games plans to sell 50 million shares on the day of its listing, with a price range of $50 to $60 per share. Riot Games has a total of about 300 million shares.

In other words, the valuation of the fist is between US$15 billion and US$18 billion.

In the current situation where the entire bubble has been inflated, this valuation can be said to be very low.

"But it is still very powerful. The boss has only been around for more than a year. The combined market value of the two companies you established as the founder, Riot Games and Quora, has exceeded 100 billion US dollars.

This is already a very exaggerated figure. said Aymo.

To be able to study in law school in American, and to be able to find an internship in a law firm while studying, is at least a middle class in American. Because of his parents, Aimo has seen many entrepreneurs since he was a child.

But she has never seen such a successful and young entrepreneur as Zhou Xin. In Aimo's view, Bill Gates is the only entrepreneur who can compare with Zhou Xin in the past two decades since the rise of the Internet.

Zhou Xin is now a representative of Silicon Valley, Bill Gates is not counted, he is in Seattle, not only is Seattle not in Silicon Valley, but it is still a long way from San Francisco.

"I have held two roadshows in New York before, and we have met a large number of professional investors in the first two days.

It is a great honor to hold a roadshow on the Nasdaq Exchange today, where we can meet more investors and introduce to you the value proposition of Riot Games, our revenue and financial performance.

and what we will do in the future. "

The general theme of the roadshow is the company's history and future plans. However, because Riot Games really has no history at all and its establishment is too short, Zhou Xin's introduction focuses on future plans, revenue and growth potential.

The roadshow for the first two days was held in the conference hall of the Marriott Hotel on Wall Street, which can accommodate 300 people. Investors who came to the conference filled the conference hall.

During the roadshow, some people kept finding Jerry, expressing their desire to participate in the IPO roadshow of Riot Games.

Later, Goldman Sachs saw that the three-day roadshow was too short, and the number of investors who wanted to come was far more than 900.

Therefore, the roadshow on the last day was simply changed to the NASDAQ exchange, where the venue is larger.

But it still can only accommodate 1,000 people, and even when the entire venue is full, people are still pouring in.

“Fist Games has been established for a very short time. When we held a road show two days ago, the biggest question for investors was that many companies are now operating online video game stores.

The share they give is lower than that of Riot Games, which is 30%. According to the information I know, the lowest share of online sales channels is 10%.

And there are not one or two online sales companies with such a low share ratio.

First of all, I would like to introduce the value proposition of Riot Games, which can answer your question to some extent. "

Three words appear on the PPT behind Zhou Xin: community, service, and feedback.

“I believe that the investors here have a certain understanding of Riot Games, knowing that Riot Games is mainly composed of two parts, the electronic community and the online store.

The online store is the main source of profit for Riot Games, and the electronic community has no profit points.

Let me first define a concept, which is user stickiness, which refers to the frequency of continuous use of products by users when they use Internet products or services.

According to the internal data of Riot Games, after the users of Riot Electronics Community complete the registration, the proportion of revisiting the webpage exceeds 90%.

For other game websites in the same industry, this figure is generally between 30% and 50%.

The following data comes from a questionnaire survey. After users choose to use the Riot Game Store to buy video games for the first time, they will first search for the game on Riot Games when they buy a video game next time. This ratio also exceeds 90%.

That is to say, users who have used the fist game store, most of them, when they buy games again, their first reaction is, I want to buy through fist games. "

This is to make up for yesterday, there is more tonight