“It takes time to clear the bubble. The financial crisis that swept across Asia last year has not yet emerged from Southeast Asian countries.
The Nasdaq bubble can be seen as a continuation of last year's Asian financial crisis. It will take time for the bubbles in the market value of Internet companies to be squeezed out.
The true value of a company and capital market pricing are two different things. In my opinion, this round of Nasdaq's decline will continue until it falls below the true value of Internet companies, or even much lower than their true value.
The true value of a company is US$10 billion. Affected by the bubble, its capital market pricing soared to US$50 billion. In the process of clearing the bubble, there is a high probability that US$10 billion will not be the end point.
Its pricing will reach 5 billion, 2 billion, or even 1 billion US dollars.
Therefore, the Internet winter caused by this round of Nasdaq bubble clearing will last longer than everyone expected.
So what I want to say is confidence, confidence is needed while waiting for the cold winter to pass.
As long as you think your business has a future and hope, then stick to it.
There is no cold winter that will not pass, and no spring that will not come. "
The audience here was also not impressed by Zhou Xin's words, and the Nasdaq index only fell 10%.
It's far from cold winter.
Some people even feel that Zhou Xin is exaggerating and exaggerating.
From 50 billion to 1 billion, it fell to 1/50 of its original market value. Is this possible? A big question mark was drawn in everyone's mind.
"Since the cold winter is coming, I plan to give you some investment. Everyone should know that I established an investment company in China called Emerging Investment.
The actual manager of Xinxing Investment is Wu Shiqiang, the bank manager who helped me when I was promoting the earliest version of NewPay in San Francisco. He was the department manager of the San Francisco Branch of China National Bank at the time.
The office of Xinxing Investment is just over the Financial Street. I believe that some entrepreneurs in the audience have seen Shiqiang and know about the existence of Xinxing Investment.
But we haven’t invested money yet, so when I returned to China this time, Shi Qiang and I talked about this matter, and they all said that entrepreneurs in China think that emerging investors only listen to stories without spending money.
So this time during the Internet Conference, I would be at the nearby Marriott Hotel every afternoon, and I rented a conference hall there for a short period of time.
Investors are welcome to come to me with your business introduction. I expect to invest US$1 billion in China this time.
Of course, there is still a threshold for meeting me in the end. You must first send the company introduction to Xinxing Investment via email. Shiqiang will do a preliminary screening, and I will screen again. Finally, each one will be notified to come to Marriott for a detailed chat.
The more detailed the company introduction, the better, including the resume of your founder team, current product status, and what you plan to do in the future. The more detailed you write, the more accurate judgment I can make. "
After Zhou Xin finished speaking, the conversation in the audience suddenly increased.
Zhou Xin continued: "One more thing, although NewPay is my company, when I seek investment, I require A/B shares, that is, the same share with different rights structure, but I cannot accept it during the investment process. this structure.
But there is one situation where your business has great potential. "
After Zhou Xin finished speaking, thunderous applause erupted from the audience.
This is a timely help.
Affected by Nasdaq, many Internet companies have reached the stage of signing contracts, but as a result, the investors have a red light.
Even in Asia, the approval process has been completed. As long as the Americen headquarters provides the loan, the deal will be completed. Americen headquarters is delaying.
This kind of contract has been signed and the money is stuck.
How can a startup company have the energy and capital to fight a lawsuit? This is a transnational lawsuit.
US$1 billion from emerging capital is simply a life-saving straw for many companies.
Everyone was willing to chat with Wu Shiqiang because the big boss behind him was rich.
Now the big boss talks in person, which is as attractive as direct deception from the boss.
In addition, this was an Internet conference sponsored by the Chinese government, and Zhou Xin’s public speech meant that there was no possibility of not voting.
A boss of Zhou Xin's level would not copy their ideas.
As for whether the Internet winter is true or false, it does not affect their desire to obtain investment from Zhou Xin.
If the Internet winter is real, this is the only chance.
"Should we talk to Zhou Xin?" Even Jack Ma, who had just received five million US dollars, could not resist the temptation and asked Tsai Chongxin.
Cai Chongxin nodded sharply: "Of course, do you know what it means to be in the foreign investment circle? His status is worse than God.
Newman is not only the top entrepreneur and entrepreneur, he is also a first-class investor. It is said that he has a pair of eyes that can see through the essence of the Internet.
No one on the Internet would question Newman's decision. So far, he has only invested in two companies, Google and Baidu. These two companies focus on search engine technology and pose a great threat to Yahoo, accounting for half of the search engine market respectively.
And I also believe in Newman’s judgment about the cold winter of the Internet. If this is really a cold winter, the more sufficient ammunition reserves the better.
Receiving Newman's investment will be of huge benefit to us from subsequent financing to listing. He has a good relationship with Goldman Sachs.
In short, even just chatting with Newman and hearing his views on B2B e-commerce will be of huge benefit.
More importantly, Newman should be the only investor who is likely to accept the AB share structure now. "
China's Internet has yet to prove its age, and China's Internet founders have no confidence in front of overseas investors.
As for not being selected, Tsai Chongxin has never worried about this. Goldman Sachs’ investment in Ahri is the best proof.
Ah Li had just received five million US dollars and still had room for choice. For Goose Factory, there was no room for maneuver at all.
"I won't watch the next show. Go back and prepare a plan. Li Qing, go find out about Zhou Xin's preferences.
Let’s go back to the hotel and write the company introduction as quickly as possible.
Forget it, Zhidong, you stay here and listen to what else they say, we'll go back first. "The pony horse is in a hurry. If you don't hurry, there's nothing you can do."
If he can no longer attract investment, he will sell the house, and he will not sell it alone, but the entire Goose Factory founder team will sell it together.
Pony Ma is not confident that he can persuade everyone to sell their houses and start a business with him.
If given the choice, who would want to start a business by selling everything else? Wouldn’t it be nice to take investors’ money?
The peak conversation on the stage was still going on, and a large area was already vacant in the audience.
Anyone who can come here to participate in the Internet Conference is unscrupulous.
Zhou Xin showed an awkward smile to the other three, spread his hands and said, "Sorry, I should announce this news after this event is over."
"It's okay, this is your freedom. One billion dollars is just a small number to you. Are you really optimistic that China's Internet has such great potential?" Bill Gates asked.
Zhou Xin nodded: "Yes, China has a population that far exceeds that of other countries. Although the number of people online now is limited, the number of people online will increase as the price of computers decreases.
Moore's Law determines that this speed will be very fast. "
“Internet Conference opens in Beijing
The Internet Conference opened in Beijing today. The most eye-catching news of the day should be that Zhou Xin, the newly crowned richest man in Asia, announced a total investment quota of US$1 billion, all of which will be invested in Chinese Internet companies."
“How do you evaluate Zhou Xin’s announcement to invest one billion US dollars in Chinese Internet companies?”
"Zhou Xinqing, at a time when both Wall Street and Silicon Valley are not optimistic about the Internet, stood up and announced that he would invest US$1 billion in Chinese Internet companies.
I am now in Silicon Valley, and this news undoubtedly injected strong information into Huaguo Internet. When the Nasdaq just opened, China.com, the first stock of Huaguo Internet, soared 41%.
As the only representative of China's Internet concept, China.com's performance has undoubtedly laid a good foundation for subsequent Chinese Internet companies to be listed on Nasdaq.
This is also a major benefit for Chinese Internet companies that have not yet been listed or even have not received investment. This gives overseas capital the confidence to invest in China's Internet.
China.com surged after the Nasdaq opened today, but it still couldn't stop the overall index from falling further.
In addition, unlike Zhou Xin’s massive investment in China Internet, another black swan was born today in America.
At nine o'clock in the morning, Judge Thomas, who was responsible for prosecuting Microsoft's monopoly case, had just released a 207-page legal document, confirming that Microsoft's monopoly and suppression of competitors harmed consumers.
This verdict was different from the 1997 Microsoft monopoly case verdict. At that time, the court did not have enough direct evidence to prove that Microsoft was abusing its monopoly power. In the end, it only made Microsoft pay a fine of US$2 million.
As soon as this document comes out, the highest judgment Microsoft will face may be to split into two companies. Affected by this unexpected incident, Microsoft's market value plummeted by 30%, and the entire Nasdaq sector plummeted.
CDC is the only green stock among the stocks I follow, and it continues to rise.
Zhou Xin’s investment of US$1 billion is undoubtedly a major benefit, but I am cautiously optimistic about how effective this benefit will be in the overall environment.
The trend of Nasdaq has also cast a thick shadow on the subsequent listing of China's three major portals, Sohu, NetEase and Sina. "
"I was at the Internet Conference today. When Mr. Zhou announced the news, half of the people at the conference left. I guess they were all busy going back to write company introductions.
Wu Shiqiang, the founder of Xinxing Investment, was sitting in front of me. As soon as Mr. Zhou finished speaking, Wu Shiqiang immediately picked up the phone. I guess there was also an Internet entrepreneur who had Mr. Wu's contact information who was looking for him.
After the agenda of today's meeting was over, when I chatted with other colleagues, everyone said that this was a timely help, and no one thought that one billion US dollars was too small.
Because I saw a saying today that compared to Mr. Zhou’s net worth of hundreds of billions of dollars, US$1 billion is too little.
What they mean is that the figure of 1 billion is an exaggeration, but it is less than one hundredth of Mr. Zhou’s net worth. This kind of statement is really disruptive.
Overseas capital, such as Goldman Sachs, has an asset management scale of hundreds of billions of dollars. Do they invest more than $100 million in China's Internet?
And at this difficult time, spending one billion US dollars is really a kind of trust. Using money to express trust and support for China's Internet. After this incident, I admire Mr. Zhou even more. "
Goldman Sachs' asset management scale was US$52 billion in 1995. By 1997, this number had become 165 billion US dollars. In 1999, no matter how bad it was, it was more than 200 billion US dollars.
"The senior executives of our company are also writing a company introduction. We hope to have the opportunity to meet Mr. Zhou. After that, we will come and talk to you about our feelings."
This is one of the hottest questions on the Internet after the Internet Conference. Another question is: "How to see the peak dialogue at the Internet Conference?"
"What Jerry Yang and Gerald talked about were practical issues that would be encountered in the process of enterprise development. What they talked about was very practical. If you can understand them, you can avoid some pitfalls in the future.
What Zhou Xin said was very practical, his actions were very practical, and he was unambiguous about whether he was right or wrong. I have money, but everyone has no money now, right? Come and get money from me.
Let’s talk about the content, confidence, Internet people who can start a business have confidence, it doesn’t need him to say it. No matter how confident someone wants him to risk his entire family's fortune to start a business, he may not dare to do so given his words.
So I feel weak.
As for Bill Gates, no wonder he has been criticized by those in Silicon Valley. In the past, information was not circulated enough and he only had a halo. In fact, after listening to it, what he said was worse than Gerald.
Because I was there to listen to him when he came to Shuimu in 1997. What he talked about this year was almost exactly the same as what he talked about three years ago.
To put it bluntly, Microsoft means you innovate. The more innovative you are, the better. If you don’t innovate, how can I learn from it?
The problem is that the reference is not good. MSN cannot compare with AOL, not to mention Yahoo. I think he should think carefully about why the things he makes are not good when he has nothing but money and a lot of marketing resources.
I don't recognize Microsoft's achievements, but they just can't do it well in the Internet era. They are a mess in the field of innovation, but they have been deceiving others to innovate. This is a bit funny.
If it is Zhou Xin who is said to be innovative today, I will definitely be convinced.
I also wrote a company introduction to send to Wu Shiqiang. If I can meet Zhou Xin, I will tell you my detailed feelings. "
Almost the entire Zhongguancun exploded because of Zhou Xin's words. Almost all Internet companies wanted to get investment from Zhou Xin.
He even wanted to grab the title of No. 1. Zhou Xin invested in the first Internet company in China. What a great title.
Pony Ma, Zhang Zhidong, Zeng Liqing and other five members of the early founding team of Goose Factory gathered in a standard room in an unknown hotel in Yanjing.
Five young men gathered in a room, which seemed a bit crowded.
"Beep~Beep~Beep~" Zeng Liqing's phone rang, and he picked up the phone:
"Hello, who are you?
Got it, okay.
Don't worry, we will let you know as soon as we make any progress. "
Pony Ma turned his eyes from the laptop to Zeng Liqing and asked: "Who is calling me so late?"
I went to bed and updated 8k today. I had a meeting in the morning and had to go to work tomorrow, so I updated 8k. I was touched by my own efforts!
So I beg everyone to buy a monthly pass, subscribe or something!
(End of chapter)
