The aerospace market is a far underestimated market.

Since Reagan announced the Star Wars program in the early 80s, both the United States and the Soviet Union have invested a lot of manpower, material and financial resources in the field of aerospace, and the aerospace industry has also ushered in a short period of explosion. However, with the collapse of the Soviet Union, the Star Wars program was no longer necessary, and in the last decade of the 20th century, all other space powers except China invariably lowered their space budgets.

Needless to say, after the change of political system, of course, no one pays attention to the aerospace industry that will not see any benefits in the short term.

The key is the United States.

The United States alone invests more in the field of space than all other countries combined.

The budget approved by the Crichton administration for NASA last year was $12.7 billion, which is expected to fall to $12.5 billion next year, and the Crichton administration has pledged to keep NASA's budget within $12 billion before leaving office.

In any institution, the budget for health should rise every year. On the one hand, because inflation causes the currency to be in the process of depreciation, and on the other hand, as the organization survives, it needs more budget than the previous year when nothing remains the same.

Fixed assets, depreciation of equipment, and employees' salaries, after all, are all going to rise.

But now, instead of raising the budget, the Crichton administration has lowered NASA's budget again and again, and the end result may be that NASA may lose far more than the billions of dollars in the budget.

It seems to be about 10 percent less, but in fact, NASA's annual fixed spending may be more than $8 billion, and only four or five billion dollars are spent on research and development, and a billion less than a billion dollars may mean that 20%-30% of the research and development funds have evaporated.

Sorry, that's not possible. Organizations have an instinct to expand, and it is impossible to actively reduce fixed costs, so it is the front-line R&D department that suffers in the end.

At this historical stage, the stagnation of the US space industry means that the world's space industry has also come to a standstill.

Looking at the whole world, it may be that only Huaxia is still concentrating on research, hoping to use this precious opportunity to narrow the gap in aerospace strength with the United States.

However, in this way, the global satellite launch market has entered a very delicate stage of competition.

Since the first artificial satellite was launched into space at the end of the fifties, mankind has launched nearly 2,000 artificial satellites into space in the past 40 years. With the continuous development of wireless communication and satellite remote sensing technology, the number of artificial satellites launched every year has been rising, especially commercial satellites, which have entered an explosive period of development.

But at the same time, the global space industry came to a standstill, the number of rocket launches fell by 20 percent, and a large number of commercial satellites were waiting to be launched, with the longest waiting time even five years later.

Even NASA's own satellites are queuing and looking around for other launch platforms, not to mention these commercial satellites.

At this time, if someone tells NASA, I am 20% cheaper than you to launch yourself, and I can launch it immediately, without scheduling, NASA guarantees that I will not even need its own rocket.

That's the business opportunity.

The global annual commercial satellite launch market is about $25 billion, and if we can reduce the launch cost by 40 percent and the launch cost by 60 percent, we will be able to monopolize more than 70 percent of the commercial satellite launch business, and the annual turnover will properly exceed 10 billion yuan, and the profit will still be at least half of the profit.

Of course, the reason why no one does this kind of business that seems to have high profit margins is because the threshold is too high.

High-risk, high-tech, high-capital investment, space science and technology is a typical three-high industry, except for the state's behemoth can be invested regardless of returns, no capitalist is willing to try this kind of business easily.

Unless they can see the possibilities.

Therefore, like Musk in later generations, Zhang Chen can only pay out of his own pocket to make an upfront investment.

Unlike Musk in later generations, Zhang Chen is richer than Musk......

Much richer......

Musk in later generations, smashed the pot and sold iron, but only invested more than 100 million US dollars he earned from PayPal into SpaceX, insisted on three or five years, and the capital market put some money in doubt, and obtained an order from NASA, which brought him back to life.

What about Zhang Chen?

Hehe, now Cowys can contribute more than $15 million in net income to Zhang Chen every day, which is every day, even if there are competitors in two months, the income is gradually decreasing, at least it can last for three or five years, just a small part of this money is enough for SpaceX to hold on to the day of successful launch.

However, if it was just to make money, Zhang Chen would not go to SpaceX.

Make money, it's for SpaceX.

Making money is not an end, just a means, I have no concept of money, I don't do business to make money, making money is not the only goal of entrepreneurs......

Once upon a time, Zhang Chen was dismissive of these rich pretending to be coercive. But today, when Zhang Chen's wealth has also reached this level, he found out that these rich people are not necessarily pretending.

It is because they have reached the stage of self-realization, self-realization.

When people's low-level needs are satisfied, they will inevitably pursue higher-level needs, and Maslow divides people's needs into physiological needs, safety needs, emotional needs, respect needs, and the highest level is the need for self-realization.

The so-called self-realization, in layman's terms, is to realize one's dreams.

Although this classification is very controversial and not absolute, it is very applicable to most people, and Zhang Chen is the majority.

Live longer and go further, this joke with Natalie has gradually become Zhang Chen's self-realization goal.

Maybe, I can really change the world.

"By the way, I forgot to ask, you just said that this is one of your three goals, what are the other two?" Musk chatted with Zhang Chen for more than an hour, determined the work procedures for the next two months, and suddenly remembered that Zhang Chen hadn't said what his other two goals were, and couldn't help but ask curiously.

Zhang Chen said expressionlessly: "I'm afraid of death, so one of the goals is, of course, the ultimate dream of mankind - eternal life. For this reason, I also have a lot of investment in the medical sector, and I will tell you an inside information, at present, my two investment funds hold a total of 7.75% of the shares of Amgen Pharmaceutical, a local pharmaceutical company in California, and will further increase their holdings, and also invested 55 million US dollars in a local pharmaceutical start-up called Tularic. If you're not afraid of the SEC's investigation of insider trading, you can buy some Amgen shares recently, and they will definitely rise. ”

Elon Musk was dumbfounded, he never thought that Zhang Chen would have such an absurd dream.

"This—that's the second goal, then—what's your last goal?" Musk stammered.

Zhang Chen smiled mysteriously, no matter how Musk asked, he remained silent.

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"Ahh

Rice is the provost of Stanford, and he has always been dignified in the school, and Asian students all walk around the road when they see the dean of teaching, and Tang Miaomiao is no exception.

Zhang Chen laughed and said, "Then what's the matter? Condoliza is Bushi's female companion, and it would be rude if I didn't bring my female companion with me." You've also been a teacher, so why are you still afraid of the provost?"

Tang Miaomiao snorted and glanced at Zhang Chen: "Who is like you? I don't respect teachers at all, eh, how do you think I wear this skirt today?, does it look good?"

Zhang Chen's eyes are hot, and his heart is also hot, "It's good-looking, you look good in whatever you wear." With that, a pair of magic hands stretched out.

Tang Miaomiao exclaimed: "What are you doing, don't make trouble~"

Zhang Chen said: "Respect the teacher~"

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"How was the morning meeting? Did it go well?" Condoleezza Rice, wearing noise-canceling headphones, curiously grabbed two fried sunflower seeds, and knocked on the same path as Zhang Chen.

Zhang Chen and Tang Miaomiao are also wearing headphones, no way, even if the cabin of this Bell 430 helicopter has undergone noise reduction treatment, the noise in the cabin is still a little loud, if you want to chat normally, you still have to wear noise cancelling headphones.

"Verbal swords, baht must be compared. Zhang Chen shrugged his shoulders, knowing that Condoleezza Rice was referring to eBay's stock issuance meeting this afternoon.

Zhang Chen spit the melon seed skin in his mouth into the tray, "Julian Robertson's Tiger Fund suddenly got involved, driving up prices, and it was a bit troublesome. ”

Julian Robertson's Tiger Fund has made a lot of losses in Rakshasa since he returned from Xiangjiang, which is really a bit painful.

Last year, with the prestige of sweeping Southeast Asia and more than $20 billion in assets, Tiger Fund could have achieved an investment return of more than 70 percent in 97 years, but because it lost nearly one billion yuan in Xiangjiang, the return on investment fell to less than 60 percent.

It was still a miraculous rate of return, but 98 years later, Julian Robertson suddenly discovered that the Tiger Fund's good days were over.

This year's financial markets have presented a strange phenomenon - almost all products, with the exception of the NASDAQ, are not profitable.

What made Julian Robertson panic even more was the Rakshasa crisis.

Julian Robertson also has a large investment in Rakshasa and has a very close cooperation with LTCM, if LTCM fails, then the Tiger Foundation has nearly $4 billion in assets facing the dilemma of losing all its capital.

Hedge funds are most afraid of this situation, once there is a large-scale loss, investors in order to avoid losses, will inevitably redeem the invested fund, the essence of which is not much different from a bank run.

Julian Robertson has always been a big believer in the theory of value investing, and no matter how hot the Nasdaq is, he has always disdained new technology stocks with price-to-earnings ratios of more than 100 times, believing them to be bubbles.

But now, seeing the businesses he has done with value investing losing money one after another, and the new technology stocks that he is not optimistic about at all are rising vigorously, Julian Robertson will inevitably question whether he is really wrong, even if he insists on his theory?

Even if he doesn't question it himself, there will be other shareholders who will question it.

Under heavy pressure, Julian Robertson had no choice but to make a desperate bet and completely change the investment strategy of the Tiger Fund - entering the high-tech sector.

In addition to buying a large number of NASDAQ-listed stocks, Tiger Fund is also actively involved in NASDAQ's cornerstone investment, and Ebay's stock issuance is one of Tiger Fund's goals.

"Julian, then you've got a strong opponent. Condoleezza Rice smiled, "He's not that easy to deal with, and the year before last he sued a family for saying bad things about him for a billion dollars." ”

Zhang Chen snorted, pursed his lips, and said in his heart, this is retribution, and you still want to claim a billion?

Condoleezza Rice looked at Zhang Chen with interest, and she felt that Zhang Chen didn't seem to take this matter to heart at all.

"What are you going to do?" Rice asked deliberately.

Zhang Chen stretched his waist and held Tang Miaomiao's hand, "It doesn't matter, if he wants this business, he will give it to him, as long as he can afford the price, I will sell him all the Ebay shares in my hand." ”

Condoleezza Rice was stunned for a moment, "Do you think eBay prices have peaked?"

Zhang Chen flatly denied: "Of course not, but I don't like internal friction, untimely internal friction will make the company lose its competitiveness, since Omidyar's business ideas and the source of fire conflict, I want to introduce new cornerstone investment, I will respect the founder's decision." ”

Rice's face remained the same, but he always felt a little strange.

"Buzz Buzz Buzz~" With a violent air current, the 13-meter-long Bell 430 landed firmly on the rooftop apron of the Hyatt Regency Sacramento.

Zhang Chen led Tang Miaomiao with one hand, and helped Rice down the gangway with the other, but fortunately, Tang Miaomiao chose a pair of pants in the end, otherwise he would definitely be blown away by the wind and waves set off by the rotating propeller.

The three of them took the special elevator from the top of the building down to the lobby on the first floor, and under the guidance of the hotel manager, they came to a restaurant called Dawson's Steakhouse in the hotel.

The restaurant is a typical American style, with wooden wainscoting on all four walls, and the yellow lighting is neither dazzling nor dim.

This shop obviously has some history, the table has some mottled traces, there are many such steakhouses in the United States, most of the taste is not bad, the price is not expensive, it belongs to civilian consumption.

Tang Miaomiao couldn't help but be glad that she finally wore an ordinary dress today, if she really changed into a small dress, this kind of occasion would be too embarrassing.

"Hi, Liza, long time no see, I'm so glad to see you again. A middle-aged white man with a sincere smile on his face greeted Condoleezza Rice.

"Hello Zack, you look younger than you see on TV, wow, what a strong arm, what a great guy, we're going to hunt on my farm in Crawford another day. ”

"This beautiful lady, it's an honor to meet you, I'm George Bushi, you can call me George. ”

Zhang Chen's pupils shrank: "Governor Bushi, it's a pleasure to meet you, I'm Zack." "Please Baidu "Throw Book Network" Thank you for your support!