The Millennium Semiconductor Survival Guide

If it was just a merger of Google and Baidu, Henry would not go out in person and find Zhou Xin as a lobbyist.

The significance of this incident is that they hope to make the merged Google listing a landmark event, rebuild investors' confidence in Internet companies, and take the opportunity to profit from it.

Preparations for the merger of Google and Baidu began in June, and it happened to be listed in early 2001, which is the new year, which means that the millennium Internet crisis has passed.

The potential benefits to Goldman Sachs are incalculable. If there was no storm effect brought by Zhou Xin, it would have been PayPal's listing to take on this important task.

However, PayPal's listing was far from achieving the expected effect, and later it forced Google to go public.

When Google went public, there were more than one billion dollars in cash lying on its books, and there was no shortage of money at all. Wall Street investment banks used various means to force Google to go public.

Because he rejected Henry's first two requests one after another, it was difficult for Zhou Xin to refuse the third request.

But he didn't say anything to death, but said that he would talk to Robin about the merger of Google and Baidu.

The next day is worse than hitting the sun, and the pony horse also came to American. Zhou Xin thought about forming a game and called the pony horse and Robin.

"Brother, come and sit down. This is Pony, Pony Ma, the founder of Tencent. QQ is their product." After Zhou Xin introduced Pony to Robin, he continued:

"Pony, this is Robin, Robin Li, a senior from Yenching University, just ten years older than me.

I stayed at Yanda for only one year, and my brother stayed at Yanda for four full years. He is the founder of Baidu, a very popular search engine at American. "

The reason why Pony came to American is because the company qq is doing very well in China.

In the process of communicating with Pony, Zhou Xin told him that the profit of selling enterprise software in China is very thin. Most enterprises do not have the concept of informatization, and the market is also very narrow.

On American's side, both demand and profit far exceed the current Huaguo. Zhou Xin intends to hand over the enterprise communication software of the company under his name to Tencent.

Among them, Matrix has the greatest demand. Matrix has more than 1,000 employees, most of whom are R\u0026D personnel, involving multi-departmental collaboration.

Instant messaging software such as QQ can greatly improve the efficiency of collaborative office work.

It is equivalent to Zhou Xin wanting to cooperate with Pony to jointly build enterprise QQ into an enterprise-side instant messaging software, first using Matrix and Riot Games as the foothold, and promoting it to other companies by the way.

Originally, Zhou Xin wanted to chat with Bill Gates and make the enterprise QQ become Microsoft's office software, but this is a meat bun beating a dog.

Microsoft developed instant messaging software as early as 1997. After they bought Enterprise QQ and found that it was a good thing, they would imitate a similar product at a faster speed, and then use their powerful resources to promote it.

Therefore, the disadvantages of selling enterprise qq to Microsoft far outweigh the advantages.

And to sell to other companies, the later other Internet companies realize, the more advantage they have.

"Pony, hello, I have been hearing from my domestic students that there is a very popular software in the Internet community in Huaguo, which is QQ, and your QQ show is also very distinctive.

ICQ than American took the lead in finding a profit model. "Robin has been paying attention to the development of the domestic Internet industry.

If Zhou Xin hadn't invested in Baidu, he would have returned to China to start his own business.

"Hi, I've also heard about Baidu. Baidu's valuation last year seemed to exceed US$100 million. Compared with Baidu, Tencent still has a long way to go." Tencent's aggressive attack is connected with his own personality.

Robin went on to say: "Haha, I read the news, the younger brother also invested in Tencent, and we all work for the younger brother.

So the younger brother called me to eat, and I came without any hesitation. This is hard work. "Robin teased.

Because he had dinner with Henry two days ago, Zhou Xin knew that Robin was under a lot of pressure. He could tell from the other party's expression that even though he was joking, the sadness on Robin's face had not completely dissipated.

It is hoped that the pressure to promote the merger of Baidu and Google will be transmitted to Zhou Xin. Goldman Sachs, as a representative of Wall Street, tried to persuade Zhou Xin to put pressure on Robin.

Google, which has almost monopolized the search engine market in later generations, can't resist such pressure, let alone Baidu now.

After chatting with the two, Zhou Xin asked, "Robin, have you been under a lot of pressure recently? Goldman Sachs came to me and asked me to persuade you to accept the merger between Google and Baidu."

Robin showed a look of resentment: "It is said to be a merger, but in fact Baidu was acquired by Google.

Goldman Sachs is still powerful. Recently, previous investors have been persuading me to accept Google's acquisition.

After Google acquires Baidu, I can get the shares of the merged company, and then they will promote the listing of the new Google. After the listing of the new Google, the market value will definitely skyrocket.

I can benefit enormously from it.

Not only investors are persuading me, but even Baidu's internal executives have similar ideas.

Because they all have option incentives, it's good for everyone.

Relying on Baidu itself, it cannot be listed in the short term. Even if it is listed in the short term, it will not enjoy the premium brought by the monopoly in terms of market value like the merger of the two companies.

After all, in terms of second-generation search engine technology, Baidu and Google together have monopolized the market.

So except for myself, almost everyone is persuading me to let go.

Brother, do you want to persuade me too? "

Zhou Xin waved his hand: "I'm not here to persuade you, I just want to hear your thoughts.

When I invested in Baidu, we reached a gentleman's agreement. I will not interfere with Baidu's specific operations, and will agree with you on major issues.

Although we have not signed a concerted action agreement, but I will still abide by it.

I can get huge benefits from the merger and listing of Baidu and Google, but this huge benefit is nothing more than hundreds of millions of dollars, and I still don't like this benefit. "

To be honest, from the bursting of the Nasdaq bubble and the surge in S\u0026P 500 blue-chip stocks, the weekly new book profit is close to tens of billions of dollars.

Although there will be losses after cashing out, he really doesn't like the benefits brought about by the merger and listing of Google and Baidu.

If Baidu and Google can continue to fight and disrupt Google's development process, it will make him happier than this little gain.

It's not that Zhou Xin has opinions on Google, but that in many things he wants to do, Google will be a direct competitor.

For example, the mobile operating system, without Google, he can directly dominate the mobile operating system market other than Apple.

If there is Google, even if Matrix acquires Android, Google will develop other open source operating systems to compete.

There is also public cloud services, which will also have one less major competitor.

Moreover, search engines require a large number of servers, and Google's data centers in later generations have been built to the bottom of the sea.

The existence of Baidu means that Zhou Xin has mastered half of Google's server supply, which is also related to the entire chip industry chain.

After listening to Zhou Xin's words, Robin felt a little regretful. At the beginning, Zhou Xin's shares accounted for nearly 50%.

The two people's agreement on persons acting in concert is just a gentleman's agreement, and it has not been put on paper.

Therefore, in order to prevent follow-up financing, Zhou Xin’s shareholding ratio was further expanded, causing him to completely lose control, and he tried to dilute Zhou Xin’s shareholding in the next two rounds of financing.

It is only now that I know that this trick is to drive away wolfs and tigers, and Wall Street investment institutions have much more requirements than Zhou Xin.

Robin smiled wryly: "From the point of view of voting rights, the two of us combined have close to 65% of the voting rights.

As long as we remain consistent, the other party will not be able to force Google and Baidu to merge within the scope of the rules.

But the problem is that all executives seem to have been persuaded, they all want Google to buy it, and then make a fortune by going public.

People's minds change, and if it continues like this, the executives don't have the mind to focus on their work, and the company cannot maintain normal operation. "

Pony listened and memorized, these experiences may be used in the future.

After listening, he realized that venture capital institutions not only have a warm and tender side, but also an aggressive and bloody side.

Zhou Xin asked: "Brother, what you need to think about is whether to accept the merger of Google and Baidu.

If you make up your mind not to accept it, just replace all these executives.

Replacing the entire executive team will not affect business operations. After the launch of Baidu's advertising distribution system, it is already on the right track.

These executives are disobedient, wouldn't it be good to replace them with obedient executives?

Are there fewer Internet companies going bankrupt in Silicon Valley during this period? Three-legged toads are hard to find, and two-legged executives are everywhere.

To repurchase their options, isn't the cash on the book used at this time?

If you are not ruthless at this time, when will you wait?

If you want to maintain control over the enterprise, be ruthless when it should be. Baidu is equivalent to your child, and these executives want to help outsiders take your child away. "

Robin has an extraordinary desire to control the company, and is too indecisive in internal management, lacking the courage of a strong man to cut his wrists.

If it were Pony, this group of executives who were not focused on corporate management would have been fired.

It was also evident in the food delivery war in later generations, Baidu Nuomi spent money to send food delivery riders home for the New Year. Meituan and Ele.me keep food delivery riders by increasing subsidies. Don’t go back and give me your food delivery for the Chinese New Year.

Robin nodded: "Let me think about it again."

Zhou Xin said: "If you think about it, please reply to me as soon as possible, so that I can prepare."

Zhou Xin knows that it is not a problem to reject Wall Street all the time. They have already suffered a lot from the bursting of the Nasdaq bubble.

Only a few big investment banks have escaped this catastrophe, and even the big investment banks have no way to avoid any losses.

Zhou Xin intends to throw out the NewPay A round of financing that was going to be raised, to distract attention and give some comfort to Wall Street.

Originally, NewPay was a bargaining chip in Zhou Xin's hands. At the current scale, if it wants to continue to grow bigger and stronger, it is inevitable to introduce powerful investment institutions.

In order to become a national-level electronic payment application, there must be enough communities of interest.

So at this point in time, it is appropriate to throw out NewPay financing.

In the long run, Baidu's value will not be lower than NewPay, even if Baidu is only half of the original Google.

"Wall Street investment institutions only think about profits, they are completely profit-driven organizations, and they only see short-term interests, and don't care about long-term interests.

Therefore, when choosing an investment institution, the investment institution established by Silicon Valley entrepreneurs will be better than the investment institution on Wall Street. "Zhou Xin finally concluded.

"I'm not putting gold on my face, even if I'm not as rich as I am now, I only have a net worth of one billion US dollars, I will support my brother's decision.

I can tell you a more naked logic, that is the price.

Even if Google does not merge with Baidu, they will go public sooner or later based on the search engine's profit model and Google's market share.

Waiting for Google to go public before acquiring Baidu, the price they can offer is several times or even dozens of times higher than it is now.

Now it’s a certain degree of uncertainty. The market value of all Internet companies is falling. Why can Goldman Sachs guarantee that after the merger of Google and Baidu, the listing will definitely rise?

Waiting until the situation is clear before listing, Goldman Sachs' underwriter fee ratio will also be lower. "

Robin nodded frequently, "When I was communicating with other entrepreneurs in Silicon Valley, they put forward a point of view, that is, to regard Wall Street investment banks as tools rather than partners.

If you think of Wall Street investment banks as partners, sooner or later they will take advantage of your trust in them. "

This is because I have suffered a lot, so I can say that.

"Pony, you're alright. You only have me as your investor now. The help I can provide you is obvious." Zhou Xin said.

Pony smiled shyly: "Newman, your product insight is far beyond my reach.

We have been skeptical about the QQ show before, but the actual effect is far beyond our imagination.

At present, our point card sales channels are only spread to first- and second-tier cities, and all cities in Guangdong Province.

It has not yet sunk to third- and fourth-tier cities in other provinces.

But the QQ show has brought us tens of millions of revenue every month.

At least server costs and staff salaries are met.

Just relying on the QQ show alone has achieved breakeven, and the income of the enterprise QQ is pure profit.

It's just that many Internet companies on the market want to be an enterprise QQ, and we are facing great competitive pressure. "

Zhou Xin said, "Have you ever played "Game of Genting"?"

Robin: "Played."

Pony horse: "I've seen the video and know what game it is."

Zhou Xin continued: "The charging model of "Game of Thrones" is very similar to that of QQ Show.

The QQ show is a virtual image of characters, and "Game of Thrones" not only sells avatars of characters, but also sells the game environment.

Users are willing to pay for these virtual products because they are willing to pay for virtual products to enjoy differentiated services when free services are of sufficient quality.

The premise that the QQ show can be sold is that QQ has a large audience, and the premise that the avatar of "Game of Genting" can be sold is that the game itself is of excellent quality. "

The Ravens are back in Diligence update status!