After reading the budget made by Bellankefen about the cost and expense of the fire source for the next year, Zhang Chen shook his head.

Indeed, the budget is very beautifully done.

In his previous life, Zhang Chen himself had made a departmental budget, and the budget was not small, at least larger than the budget of today's Tinder Source.

But compared to this one of Bellankefen, it is like a lump of soaring.

Blankefen's budget is like a delicate Swiss mechanical watch, where every number stays where it should be.

But it is precisely because it is too strict that Zhang Chen feels that there are no surprises, just like Canon, every note is very orderly, the tune of one voice chases the other part from beginning to end, until the last bar, which is very beautiful but lacks spirituality.

What Zhang Chen hopes to see is to see Belankefen's future plan for the source of fire from the budget, but from this budget, Zhang Chen can't see this at all.

Thinking of Frankfin's generosity at Goldman Sachs and his business-oriented rather than cost-oriented approach to business, Zhang Chen couldn't help but wonder if he had dug Frankfen too early and poached him before he really matured, hindering his growth.

Looking at the watch, it was close to noon, Zhang Chen asked the driver of Tinder Source to send him to Bill's company, he made an appointment with Bill Campbell, had dinner together at noon, and went to Fairmont in Bill's car in the afternoon.

Eating with Bill is always a hamburger or a Chinese dish. But Zhang Chen, the Chinese food that has changed the flavor of Panda Fast Food, is really unaccustomed to it, so he has to follow Bill to nibble on a hamburger.

Zhang Chen absentmindedly cut the hamburger in front of him, "Bill, I would like to ask you something." ”

Bill Campbell forked a fry, "What's the matter?"

Zhang Chen talked about his doubts about Bellankefen.

Bill Campbell chuckled, "I think you need to find a reason for this." ”

Zhang Chenqi said: "The reason for me?"

Bill munched on a burger: "You just said you've given Laurd enough authority to do what he can do, but that's not necessarily the case for Laurd. ”

Zhang Chen stopped his knife and fork, "What do you say?"

Bill also paused and thought for a while, "Although I don't know the specific use of funds of Tinder Source now, from the perspective of your business trends, several large investments are led by you, and these alone will use up no less than 80% of Tinder's funds, or even more." Then, in this case, the role played by Lauerd as CEO has become a steward. Probably due to the fact that Tinder has been in operation for so short a period of time, neither you nor Laurd seem to be aware of it. ”

Zhang Chen immediately reacted, it is true, the reason why Bellankefen's budget is conservative is because almost all the big investments are led by himself. And Bellankefen gradually and imperceptibly accepted this positioning, and gradually became the role of a logistics minister. Ignoring open source, only throttling, and setting a budget based on predictable performance has become an inevitable choice for Blankefen.

But for a big man like Bellankefen, it would be too wasteful to only let him do this logistical support work.

Bill Campbell laughs: "Actually, your kind of organizational structure is too rare in the venture capital world, and it's not for nothing that most venture capital firms adopt a partnership system. What the venture capital industry needs most is the subjective initiative and personal vision and ability of senior executives. The traditional tree management structure is about execution, just like you would expect from Lauald today. ”

Bill Campbell's words came to an end, Zhang Chen pondered for a long time and breathed a sigh of relief, "I understand, Bill, thank you very much." By the way, I haven't told you that I can't afford to read it. Uh, sorry last time. ”

Bill pretended to be at a loss: "Which time?"

Zhang Chen scratched his head and said embarrassedly: "I'm sorry I couldn't agree to your request last time, I shouldn't have involved you in my personal grudge with Jobs." ”

Bill laughed and said: "Steve is much more than you, he was really angry that time, and he flew to Japan with Otogawa Hirofumi overnight to meditate, and now I can't contact him." You've replaced Luis Garcy in the top five of the people he hates the most. Ha ha. ”

Zhang Chen was curious: "Who are the top four?"

Bill Campbell shook his head: "If you have a chance, you can ask him yourself, but you should be proud that those people are legends of Silicon Valley and the tech world." ”

Zhang Chen sneered: "It is estimated that my top five position will not last long, his small book should be full of names, and it will continue to increase in the future." ”

The two naturally talked about the 211 proposal again, and Zhang Chen was a little unimpressed by Silicon Valley's reaction this time, thinking that this stress reaction was a bit too big.

Bill Campbell shook his head disapprehantly: "No one believes that this proposal will be passed, it is just a self-satisfied performance of Norin Evans, a clown who jumps off the beam." ”

Zhang Chen was puzzled: "Since no one can believe that it will pass, then why is such a huge rally? I looked at the list of meetings, which included almost all the leading figures in Silicon Valley, and even you went to cheer for it." ”

Bill Campbell smiled, "Didn't you notice? There wasn't a single Wall Street Heritage Fund in this party." ”

Zhang Chen recalled the list and widened his eyes in surprise: "Could it be that Silicon Valley wants to start a war with Wall Street? Are you kidding? So many companies are listed on the New York Stock Exchange and NASDAQ, and they have a huge investment from Wall Street, how is it possible?"

Bill Campbell shook his head and smiled: "It's not that far, but the ones who vigorously organized this party were Sequoia, KPCB, Enyi and DFJ, and even Blackstone and Carlyle didn't come." ”

"Wall Street's traditional funds should be said to love and hate the current Internet economy, love is that this market has unlimited potential, in the traditional economy is getting weaker and weaker, there is such a miracle market will become their next profit growth point. And what they hate is that they are watching the fattest part of this fat piece be bitten away by these emerging venture capital companies, and they, due to their own arrogance and inefficiency, cannot make a breakthrough in this field. You can only grab some meat to eat in the secondary market after the IPO, although the risk is smaller, but some people feel that they can't eat enough. ”

Zhang Chen muttered: "In other words, Norin Evans's 211 proposal is just throwing stones to ask for directions, and behind it, there may be Wall Street bigwigs?"

Bill Campbell smiled, "For example, Warren Buffett has said many times that he will not invest in high-tech industries because of investment strategy problems. But everyone knows that Buffett is not resistant to new technologies, but his Berkshire Hathaway has not bought any shares of high-tech companies so far. Oh yes, except for IBM's stock, but IBM doesn't belong to Silicon Valley, but to Wall Street. Warren Buffett, also belongs to Wall Street. ”

"Yes, it's Warren Buffett who belongs to Wall Street, not Wall Street that belongs to Warren Buffett. ”

(End of chapter)