"Mr. Zheng is a legend in the investment world, whether it is the original investment in crude oil futures or Internet investment, Mr. Zheng's gains are very enviable, so I have reason to believe that the future of Yahoo must be limitless. ”

"It's just a pity that I'm really not as good as Mr. Zheng in this regard, so I missed Yahoo's first and probably even the last one. After all, with Mr. Zheng's Yahoo, it must be difficult to have financial problems. ”

Michael Moritz said it easily, but only he knew how much he regretted it. If it weren't for that, he wouldn't have traveled all the way to New York.

"Mr. Moritz said with a smile, I am just keen on investing in Internet companies, and many people know this. As for Yahoo's future, I'm not God, so how can I guarantee success? I'm just gambling. ”

As soon as Zheng Yan finished speaking, Michael Moritz took over, "In that case, is Mr. Zheng willing to give up Yahoo's shares to Sequoia Capital? Mr. Zheng invested 20 million US dollars in Yahoo and got 40 percent of Yahoo's shares, and I am willing to buy them at double the price." ”

"It is almost impossible in the investment world to get a 100% return on investment in a few days, but as long as Mr. Zheng agrees, we can sign the contract immediately. ”

Michael Moritz is also tempting, he wants to know how determined Zheng Yan is to invest in Yahoo, and determine the scale of the next negotiations, but it is clear that his method is used with the wrong object.

"Mr. Moritz, your conditions are indeed very tempting. 20 million dollars, 100% return on investment, or still in a few days, I'm afraid everyone will be tempted, but Mr. Moritz, do you think there is a difference between 20 million and 40 million for me?"

After listening to Zheng Yan's answer, Michael Moritz felt like he was punching cotton. But Zheng Yan is right, 20 million and 40 million are no different to Zheng Yan at all.

Michael Moritz said with a depressed face: "Everyone knows that the most important person in the entire investment community is Mr. Zheng, and I want to use a profit of 20 million US dollars."

Impress you. Well, I admit, I made a stupid mistake. ”

Just when Zheng Yan thought the topic was over, Michael Moritz spoke again.

"Mr. Zheng, I can only blame myself for my indecision when I missed the Yahoo investment opportunity, and I know this very well. However, Sequoia Capital is really interested in Yahoo, and I wonder if Mr. Zheng will be able to give up some of his shares, or if I just offered to buy it. ”

Now Zheng Yan is a little confused. Sequoia Capital has invested in more companies, so why is it staring at Yahoo this time? Is it because it has invested in Yahoo? But this is unreasonable.

How did Zheng Yan know that because of the success of Netscape and the news they released at the press conference, the success of Elite Technology was already predictable. It can be seen that the rise of the Internet industry is inevitable, coupled with Zheng Yan's own influence, Michael Moritz naturally wants to give it a try.

"Mr. Moritz, your offer is indeed sincere, but you seem to have overlooked a problem. The funds invested by Yanhuang have been rotating between different companies, but there is no precedent for the Internet company I invested in so far."

"Whether it's the earliest Cisco, or the later Oracle, or even the exhausted Apple, I still haven't sold it even though it doesn't pay a little dividend, does Mr. Moritz think I'll sell my stake in Yahoo?"

"Almost all investors choose short-term investment, and some choose medium- and long-term investment, but unlike them, I have always chosen to take the long line and catch big fish. I won't sell my shares for a few years unless it is necessary. ”

Zheng Yan thought to herself: What are you kidding, Yahoo's peak market value is more than 100 billion US dollars, why should I sell the shares I bought at the price of cabbage to you at the price of cabbage?

Of course, Michael Moritz didn't know what Zheng Yan thought in his heart, but long before he came to see Zheng Yan, he thought that he would be rejected, so he was not disappointed at all, and continued: "What if it is exchanged for shares? Mr. Zheng should know that Sequoia Capital owns a large number of shares in listed companies. ”

"Exchange shares?" Zheng Yan was interested at this time, and said: "Mr. Moritz might as well talk about it, if it is also the shares I am interested in, it doesn't hurt to exchange it." ”

I have to say that Sequoia Capital is a miracle in the venture capital industry, and the scale is not amazing, but according to incomplete statistics, Sequoia Capital has invested in more than 300 listed companies, which is why Zheng Yan is interested.

Michael Moritz was also relieved to hear Zheng Yan's answer, if Zheng Yan refused without hesitation, it can only show that Zheng Yan is infinitely optimistic about Yahoo's future, and the remorse in his heart will only be worse.

"Mr. Zheng, you yourself just said that you are now also a shareholder of Apple, and you plan to continue to hold shares of Apple, I wonder if you want to increase your shareholding?"

As soon as Michael Moritz's words came out, Zheng Yan's heart became excited. Although Apple is a quagmire now, it will be a giant in the future, Zheng Yan was just about to ask about the specific exchange conditions, and Bill Miller on the side spoke.

"Mr. Moritz, if I'm not mistaken, what you told me was that you were looking for Zheng Yan to talk about cooperation, so I brought you here. But are you talking about cooperation now? Why does it sound like a joke?"

"Apple used to be really strong, but that was once. Since you Sequoia Capital also have shares in Apple, then you should know that Apple's current situation is about to lose its last living space under the suppression of Microsoft. ”

"Yahoo is a new company, and no one knows what Yahoo will be like tomorrow, but since Mr. Moritz is so bullish, it shows that Yahoo has great potential, and at least bet on the future of Yahoo. ”

"But what about Apple? Apple's future is basically foreseeable, and if nothing goes wrong, being acquired is its only way out. And as far as I know, there are a lot of voices within Apple that want to sell Apple. ”

In fact, there is no need for Bill Miller to say that Sequoia Capital is the kind of shareholder who tends to sell Apple, and it is only because some people are firmly opposed that they want to take advantage of this opportunity to get rid of Zheng Yan.