Why did Gu Biao make a hostile takeover of a major stake in Texas Instruments, and what did he plan to do after acquiring Texas Instruments?

This is a question that the layman may not be able to figure out for a while.

This requires a little analysis of Texas Instruments' current business, industry position, and operating space for fraud.

First of all, Texas Instruments is positioned between Intel and Motorola, mainly engaged in various electronic chips. In particular, in 1982, the company first invented the DSP chip, which is the "digital signal processing" chip.

Engineering men who have studied electrical/electronic majors and taken modular electrical/digital electrical courses should know that DSP chips have created a new era of human use of sensors, allowing the traditional collected analog sensing signals to be digitized and processed, providing a great expansion for electronic devices to "perceive" external input sources.

To use an inaccurate analogy, before there was no DSP technology, the data processed by the computer was input by humans, and it was rare to rely on sensors to directly and automatically collect and convert digital signals, so many automatic control functions could not be realized.

This analogy is not accurate, but in a word, Texas Instruments is now in the field of consumer electronics chips and sensors, and it is definitely the world's top three competitiveness.

Even Motorola's first-generation mobile phones are not all developed by themselves, but they also use many patents authorized by Texas Instruments and purchase many chips and sensors from Texas Instruments.

However, if people are doing well, Gu Biao wants to casually run to the door to buy, it is undoubtedly a blind toss.

The reason why Gu Biao, an old yin beep, is eyeing the other party must be that the other party has shortcomings and loopholes.

Texas Instruments' current operation does have a big drawback and disagreement.

That is, Deyi's development ideas, determination and vision in the field of semiconductors and CPUs are not very good, and the investment in semiconductors is still mainly in the competition in the field of memory. For CPU research and development, semiconductor technology, do not pay attention.

In contrast, Andy Grove, the legendary CEO of Intel at the same time, was very bold to put all the power of Intel into it, and finally a few years later, as we entered the 90s, completely squeezed out the opportunity of Texas Instruments.

Andy Grove also left a well-known bold allusion in this incident: before deciding to be all-in, he went to his partner's office and asked: If the shareholders fired us today and replaced a new group of CEOs, what do you think the newcomers would do?

His partner thought for a moment and replied: the newcomer will give up the memory business and go all-in to the CPU and semiconductor processes.

Andy Grove: Since we're going to be killed, our successors will change the same way, so why don't we do it now and take our own lives?

It's a pity that there aren't a few people like Andy Grove in one era. Texas Instruments failed to have such a bold president, so they later failed to compete in this area, resulting in its "stock price market value only increased 10 times in more than 20 years". Because it's just old, but the future development is far inferior to Intel.

Of course, at this moment, there is a person in Texas Instruments who has a vision and thinks that it should be All-in semiconductor technology, and he is the later father of TSMC, Zhang Zhongmou.

Zhang Zhongmou is now the executive vice president of Texas Instruments, but unfortunately, his immediate boss, Deyi's CEO Xia Bai, feels that All-in is too risky, and the semiconductor process takes up too much R&D funds, so it is better to be more prudent to dig more markets in sensors, consumer electronics, and digital signal processing.

Historically, it was because of this difference in philosophy that Zhang Zhongmou angrily resigned as vice president of Deyi at the end of 1985 and returned to Wanwan to found TSMC. 30 years later, the self-made TSMC has more than twice the market value of Texas Instruments.

Of course, Gu Biao did not know the details of Zhang Zhongmou's personal historical information.

But Gu has seen the disagreements within Texas Instruments, as well as its short-sightedness.

Gu Biao felt that the Deyi in front of him was completely a copy of Atari two years ago-

The business department, represented by CEO Xia Bai, hopes that the company's research and development will be more stable, spend as little money as possible, and make less gambles with an uncertain future. It's enough to tinker with consumer electronics chips and sensors.

It is best to invest in every R&D investment, and you can see that a new model is launched in a year and a half, can be sold immediately to make a profit, and make the company's financial statements look better.

The fanatical technical nerds represented by Zhang Zhongmou hope to gamble on a project that can only see the long-term competitiveness after 5~7 years, and continuously smash the company's current profits and financial resources into it, but they cannot get full support, and can only "waste" a little of the company's funds in a limited way, and finally can only make a four-like at most.

At this time, Gu Biao actually doesn't need to use the shell of the Blackstone Fund to hold 70% of the shares, even if he only holds 30% of the shares, it is enough to have a decisive influence on the decision-making of Texas Instruments.

Because the short-sighted faction represented by Xia Bai originally wanted to do this. Add another 30% of the chips, and the opposition will not be able to make even the slightest wave.

Once Gu Biao is in cahoots with Peterson of Blackstone and Xia Bai, Deyi's short-sighted faction, he can "frame Zhongliang", force Zhang Zhongmou to be cornered in Deyi, and then let Deyi destroy the Great Wall and die a crisp death.

Gu Biao is sure that from the second half of this year, Deyi will completely "swing the knife from the palace" style of technology investment in the field of CPU and semiconductor technology. This can save the company at least $100 million a year in technology research and development investment.

That means that on this year's year-end financial statements, Texas Instruments will have an additional $200 million in net profit than last year!

Of course, for ordinary shareholders, it is absolutely impossible to tell them that "the company has cut some R&D directions and lacks stamina".

The slides that should be done still have to be done, the good news that should deceive shareholders should still be put, and the symbolic money spent should still be whitewashed, anyway, shareholders are unprofessional, who can understand the details of R & D expenditures in the statements of listed companies.

In this way, Texas Instruments' stock price will definitely skyrocket, and it will not be a short-term skyrocket, but it will continue to be at a high level for at least two or three years - because the decline in competitiveness caused by the abandonment of the semiconductor process business will not be seen until at least five years later, which is an investment in long-term competitiveness.

Gu Biao's actions, like other "barbarians at the door" of hostile takeovers, are to use the resources that harm the company's long-term "health" in exchange for a stimulant that lasts for two or three years.

Three years later, after Senior Bill had done enough to be a "member of the Southern Economic Development Policy Committee" and become a "member of the Joint Council of Governors", Gu Biao slowly sold Deyi's shares to cash out, leaving behind a zombie in the state of drug residue after the doping recession, so that Americans can slowly recuperate.

Gu Biao is still very confident in this, because he at least knows that in history, Bill did run as a state council seat before the president, and he believes that Bill can become a state union seat with his own strength, and now with his Gu Biao pushing, it will be faster.

And once Bill became the member of the state federation and stepped down from the "Southern American Economic Development Policy Committee," how did Deyi die, and what did it matter to him? Doesn't this just show that the successor to his post is incompetent! It just contrasts with the wisdom and martial arts of his predecessor!

Historically, the early signs of the bursting of the dot-com bubble at the turn of the century were not the first signs to emerge during Bill's tenure.

However, the American people for the sluggish economic development momentum in the later 01~08 years are not all blamed on the incompetence of the little immortal, and the people who sigh about economic problems, which one is not very nostalgic for Bill?

After leaving office, he was flooded.

From Gu Biao himself, to former business minister Peterson, to the Southern Economic Development Policy Committee Zhu Bier, an iron triangle of conspiracy has been solidified at this moment.

In the eyes of outsiders, it is absolutely impossible for a foreigner to hollow out a giant like Texas Instruments, which is known as the pillar of American electronic technology, from the roots, but with the conditions of the above three points, as well as the interests, connections, and abilities of each of them.

The impossible task became gradually possible.

In this, every link is absolutely indispensable.

Without Peterson's connections as a former business chief, it would be impossible for Gu Biao to treat the bucket as a casual drift of nothing. Without Bill's cover, he would not be able to shield a lot of U.S. supervision.

Of course, what is more important here is that Gu Biao does not plan to really "acquire" Texas Instruments at all - because if he really plans to buy it and run it well, then after a long time, after Bill and Peterson are removed from their current positions, there will still be people who will come to deal with Gu Biao.

However, Gu Biao only plans to hold it for two or three years in the short term, and the stock price will be wiped out and then leave, which is absolutely no hidden danger. Even if there are some Americans who love the country to the point of perversion and want to play the emotional card of national attention against Gu Biao, it will be too late by then.

What Gu Biao wants to get from Texas Instruments is money and talent reserves. As for Deyi's existing brands and ready-made technology, Gu Biao doesn't care very much.

He also hopes that the semiconductor technology talent pool represented by Zhang Zhongmou and with lofty ambitions will be dug into China after Deyi "self-destructs the Great Wall".

Historically, of course, Zhang Zhongmou went to Wanwan, but Gu Biao felt that he was sure to dig up the mainland in this life.

Because Zhang Zhongmou in history left by himself, and was not killed by the financial market's "cruelty to Zhongliang", he certainly did not form a bitter hatred for the stock market.

And now, Gu Biao will definitely stage a drama in front of Zhang Zhongmou of "Qin Hui of the stock market and Yue Fei of the wreckage long-term technical team, defrauding stockholders, making dirty money, and harming science and technology."

Then, Zhang Zhongmou was forcibly instilled with a three-view that "stock market speculation and high-tech development are incompatible."

At that time, Wanwan will have a stock market. And the mainland is a great social attention system, and there was still no stock market in the 80s.

A technophile who has formed a deep enmity with the stock market wants to give full play to his talent without being constrained, how else will he choose?