It's just that Michael Moritz didn't expect that before Zheng Yan could say anything, Bill Miller jumped out first. However, he also has to admit that what Bill Miller said is true, although Apple's current market value is not low, there is no profit.

Looking at Michael Moritz, whose face was full of embarrassment, Zheng Yan sighed in his heart, Bill Miller's intervention was really a stroke of genius. But in any case, Apple's shares still have to be obtained.

"As you have seen, Mr. Moritz, it is clear that your conditions are not very sincere. ”

Just when Michael Moritz felt desperate, Zheng Yan continued to speak: "However, as I just said, I am interested in any Internet company, including the current Apple company, of course, Mr. Moritz might as well talk about his own conditions." ”

Hearing Zheng Yan's words, Michael Moritz felt that the experience he had just experienced was like a roller coaster, up and down. At the same time, I was also wondering in my heart, since Bill Miller could see it, couldn't Zheng Yan see it?

Or, as Zheng Yan said, is he just interested in the Internet industry? Even ignoring the situation of the enterprise itself? And investing in Cisco and Oracle in the past is just a blind cat and a dead mouse? Michael Moritz thought about it and never had an answer.

"Mr. Moritz?"

Just when Michael Moritz was in a trance, Zheng Yan began to be anxious again. For Zheng Yan, Sequoia Capital's apple shares are like a boiled duck, and it must not be allowed to fly.

"Oh, sorry, I was just thinking about something. Michael Moritz, who came to his senses, continued: "Since Mr. Zheng is interested in Apple's shares, then we have a basis for cooperation. ”

"At the moment, Apple's market capitalization is around $3.7 billion, and we Sequoia Capital hold 8.4% of Apple's shares, and if Mr. Zheng is interested, we can transfer it to Mr. Zheng at the market price. In exchange, Mr. Zheng gave Sequoia Capital a portion of Yahoo's shares. ”

In fact, in Michael Moritz's mind, as long as Zheng Yan is willing to take over Apple's shares, then whether Yahoo's shares can be obtained is not that

Why does it matter?

In the past few years, Apple's market value has also fallen as Apple's personal computer market has shrunk repeatedly. If it was only a small shareholder, Sequoia Capital would have been able to make a move, but unfortunately they have a lot of shares and have not found anyone willing to take over.

Now with Zheng Yan, the "wronged leader" who is obsessed with Internet companies, if he doesn't seize the opportunity, Michael Moritz feels sorry for Don Valentine's weight, so he didn't add any water in terms of the price of Apple's shares.

When Michael Moritz was secretly proud, Zheng Yan was even happier. At the beginning, because of a bet with Barty Morris, I won 4.6 percent of Apple's shares from him, and if you add 8.4 percent of Sequoia Capital, it is 13 percent.

Thirteen percent may not be Apple's largest shareholder, but it is one of them. Ever since meeting Steve Jobs in San Francisco, Zheng Yan has thought about speeding up his return to Apple, and as long as the deal with Michael Moritz is completed, it will be one step closer to that plan.

"Mr. Moritz, how much stake do you want to get from Yahoo? As long as it's not too outrageous, I think this deal can still be made. ”

"How about 20 percent? I'm willing to pay $20 million for it, and Mr. Zheng is equivalent to getting 20 percent of Yahoo's shares without spending a penny. You have to know that no matter how good Yahoo's development prospects are, there are inevitable risks before it succeeds, and Mr. Zheng is equal to no risks. ”

Twenty percent? Zheng Yan thought to himself, 20 percent is equivalent to more than 20 billion US dollars, and this business will definitely not lose money in the long run, but for now, it is a blood loss.

Yahoo will rise in a few years, but Apple will have to wait for more than ten years, and with these ten years, Zheng Yan can get Apple's shares through other ways. If nothing else, the collapse of the Nasdaq a few years later was a great opportunity.

"If that's the case, Mr. Moritz, then I can only express my regret. I'm interested in Apple's shares, but I'm more optimistic about Yahoo's growth. And I believe that in a few years, Yahoo will leave Apple far behind

Behind. ”

"In the current situation of Apple, as long as I want, there are a lot of people who are willing to sell shares to me, and Yahoo's shares, to put it mildly, you can't get it through other means except me, so..."

Zheng Yan felt that he was a little anxious, and now that Apple's stock price had not reached its lowest point, he still had enough time to figure out a way. However, there is almost no possibility of another increase in Yahoo shares in his hands.

"Mr. Zheng, do you really stop thinking about it?" Michael Moritz was very disappointed with Zheng Yan's answer, but the more Zheng Yan valued Yahoo's shares, the more he wanted to get it.

"No, but Mr. Moritz could have listened to my terms. If Sequoia Capital wants to sell its stake in Apple, I can still take it over and buy it at a 10% premium. Mr. Moritz should have been clear that no one would give a higher price except me. ”

After having nothing to ask for, Zheng Yan became much calmer.

"Mr. Zheng, if Sequoia Capital exchanged all of its Apple shares for your Yahoo shares, would Mr. Zheng agree?"

"No!" Zheng Yan said, shaking his head.

Zheng Yan knew that this was not a condition offered by Michael Moritz, it was just a temptation from the other party, and he wanted to get some information from himself, which Zheng Yan didn't mind.

"I see, it looks like I did miss a good opportunity. Although I don't know where Zheng Yan's confidence comes from, Michael Moritz is still full of remorse. It's just that he doesn't know that this kind of regret is just beginning.

"Mr. Zheng, I am willing to transfer the shares of Apple to you at the price you said. Just make a friend, and hope to have a chance to cooperate in the future. ”

Michael Moritz thought about it for a while, although Yahoo's stake is not a good thing, but it seems good to be able to get rid of the hot potato of Apple, at least the trip has been rewarded. As for Yahoo's shares, I'll think about it slowly in the future.

Zheng Yan didn't expect that even in this case, Apple's shares would still be in his hands. I was happy but also a little afraid, but fortunately I just resisted the temptation, otherwise the loss would have been great.