"Although I don't know where the music market will go in the future, one thing is certain, music will not disappear, the music market will not disappear, but it will exist in a different form, waiting for us to dig out. From the current point of view, there are mainly two opposing markets of recorded music and live music, and from the Taoist point of view, one market declines, and the other market should rise. But on the other side of the market, there is the transition between virtual and reality, that is, the opposition between CD physical records and digital music, I think digital music is the trend of the future, and streaming media will have a great future. But streaming media has a flaw, that is, it lacks copyright and content support, and it is difficult to develop, which ensures that traditional record companies will not die too quickly, and the market still leaves them a chance to ......" Zhou Shi, after making an appointment with Buffett, faced his suspicions and stated his reasons.

"Taoism?, your thinking is quite interesting and refreshing...... "Warren Buffett."

"Taoists believe that everything is opposites and unity, and there are prosperity and decline...... "Zhou Shi explained his own understanding of the thought.

"So you're going to invest in the entire music market?"

"It's mainly live music and recorded music, and as for digital streaming, it's a different system. "Zhou Shi

"Why do you want to invest in this market, it's not huge?" said Warren Buffett

"I didn't want to, but someone came to the door, and the conditions were very good, so I agreed....." Zhou Shi

"Oh, and this?" Buffett

"British Baidai music!" Zhou Shi

"They!" Buffett

"Some time ago, I was going to be acquired, but the conditions were not negotiated, so I was cheaper. "Zhou Shi didn't dare to say that he didn't talk about it because he wanted to be cheap, that would be too jealous!

"I'll ask you about Live Nation!" Buffett agreed to Zhou Shi to help contact Liberty Media's John Malone.

Zhou Shi thanked Buffett and left the United States for England.

The wealth of Zhou Shi's family fund mainly includes five percent of Disney's shares, Fengyun Culture and Sports Investment Company (including Liverpool, Miramax) and some domestic assets and cash, among which Miramax's long-term debt is actually quite a lot.

"In other words, our real purchase price is similar to that of Universal and Sony, which is more than $4 billion?" Zhou Shi listened to the plan given by RBS and HSBC, and felt that it was quite sincere. Among them, $3 billion in acquisition funds and more than $1 billion in debt.

"Yes, the total price is basically the same. "Chen Wen

Last time, I said that Warner Music Group was acquired last year, which was 3.3 billion US dollars, and the market share is about the same, and it is already very good that EMI, which has worse performance, can sell at such a price. The market leader Universal Music may now be valued at more than $4 billion, and of course Universal Music also has a lot of debt, which may add up to more than $5 billion.

The family fund holds 45% of New Baidai Music, 33% of Galaxy Capital, and 22% of Guoke. The family fund's acquisition funds were borrowed from RBS and HSBC, and the other two companies were responsible for their own acquisition funds.

The conditions were quickly negotiated, but it still had to negotiate with Citigroup, although it was said that a joint consortium formed by RBS and HSBC Holdings acquired EMI Music, but it was not directly transferred, and the number of changes of hands was too much, and the tax cost was also high, and the most important thing was not to let Zhou Shi and Citi face to face, how to provoke the relationship?

Of course, Zhou Shi will not directly come forward to fight with the people of Citibank, he did not even come forward to explain anything, his choice is nothing, his companies are all high-quality enterprises, without Citi, there will be other banks willing to give more favorable conditions for cooperation, after the spin-off of Meibang Securities, he does not owe Citi any favors. Take this opportunity to let them know who is inseparable from whom!

He didn't go to see Citi's people, not only for this reason, the person in charge after a hundred generations was a big problem, but also because he was going to do a game with the richest man in France, and the richest man came to London to meet Zhou Shi in person.

"I'm really sorry for what happened last time...... Bernard Arnault said modestly, the richest man in France is still very stylish, much more handsome than Zhou Shi.

"It's because I'm too sensitive, thinking that someone borrowed your name and came to the door to deliberately deceive me!" Zhou Shi said euphemistically.

"He's also new to the job, and he wants to make a difference, not on purpose. "Arnault

"I think so, maybe it's inexperienced, thinking that I'm a nouveau riche from China, and I'm ignorant when I'm young. "Zhou Shi

"I've already taught him a lesson, he's not a boss after all, he's not a rich man, and he doesn't understand the mentality of a rich man. "Bernard Arnault

"Probably, I think it's a lack of sincerity in dealing with each other, or maybe you haven't recognized the possible changes in the world in the future. "Zhou Shi

"What does Simon think the world will look like in the future?" said Ou Zhihua

"This question is too big, how can I answer it?" Zhou Shi

"For example, ..... related to the Internet" Ou Zhihua

"This problem is also very big!" Zhou Shi

"I think most things in the world in the future are likely to have a profound intersection with the Internet, whether it is finance, clothing sales or industrial production!

"We can't look at the current affairs with the eyes of the past, and if the Internet must be the electricity of a few decades ago, maybe we will have a clearer understanding. There is no doubt that the Internet can promote productivity improvement, but it is not yet mature and not in place. For example, enterprise collaborative office, design ......" Zhou Shi introduced some relatively easy-to-understand concepts.

"But the value of traditional things remains, just as the retail industry is not so easily disrupted!" said Bernard Arnault

"The development of e-commerce is very rapid, will the development of logistics and express delivery be complicated? Why is Amazon so valuable, because he represents the future. Although e-commerce will not completely replace the traditional retail industry, it will inevitably exacerbate the market reshuffle......

"That doesn't have to be ......," Bernard Arnault

"Haha, I think the contradiction between you is that there are differences in views on the future, and all of them have caused misunderstandings...... "Ou Zhihua

"Well, it's possible to ......," Bernard Arnault

"Whatever is possible, I think it is!" Ou Zhihua

There is no way, under the two singing and harmonizing, the conflict that has not yet begun escalated, and it is over.

(End of chapter)