"Buying Apple?" Moretz suddenly came to his senses, "You really want to buy Apple?"

Moretz was certainly excited, and Sequoia invested in Apple as a venture capitalist in Apple at its inception, and it paid off handsomely.

Like most venture capitalists, Sequoia didn't sell its Apple stake outright after Apple made a profit in the '80s, but kept a small portion of the stock as a long-term investment.

But in the 90s, Apple's performance deteriorated, its market influence was much less than before, and Sequoia's shares also depreciated. To this day, Sequoia still has more than $7 million worth of Apple shares trapped. Although there is not a lot of money, as an investor, it is a shame to be trapped.

What's more, Moretz is also one of the people Jobs hated the most.

Moretz was a reporter for Time magazine at the time, interviewing Steve Jobs at the end of '82. At that time, Jobs's fame was in full swing, but it was facing the impact of IBM's entry into the personal computer market, coupled with the imminent release of Apple's fourth personal computer, LISA, and strong publicity demand, Jobs welcomed Moretz's interview very much.

To Jobs' annoyance, Moretz focused not only on his brilliant creativity, but also on his chaotic private life, even digging up the fact that he had an illegitimate daughter.

Just like this, Jobs will endure it, and if he can be on the cover of Time magazine, it will be a great boost to Jobs's personal reputation. But what Jobs didn't expect was Apple's personal computer that ended up in Time magazine, not his personal 。。。。。。

In this regard, Moretz's explanation is that it is the epoch-making product of the personal computer that creates an era, not Jobs personally.

As a result, he was blocked by Jobs without any suspense。。。。。。 Even if he later left Time magazine and joined Sequoia to become a venture capitalist, Jobs did not forgive him, not only did he not get along with each other, but also sabotaged many of Moretz's investment projects with a grudge.

After going back and forth, the two had a worse and worse perception of each other, and now that they heard that Zhang Chen wanted to buy Apple, Moretz was of course excited.

One is that the stock in Sequoia's hand can be unbundled, and the other is that now that Jobs has taken over Apple, thinking about Jobs' expression when he heard the news, Moretz feels very cool.

Zhang Chen grinned: "Yes, I have this plan, but it is not mature, if Ed also has this will, I think we can sit down and talk about it." ”

Both of them are insiders, Zhang Chen just said his intention to acquire, and Moretz immediately understood what the reason for Zhang Chen's desire to buy Apple was.

"What a wonderful step. Moretz couldn't help but admire, "Compared to Dell, Matrix's corporate temperament and culture are more compatible with Apple, and you are indeed the most suitable acquirer." ”

Many people may wonder why a newly established company like Matrix has a valuation of more than $4 billion, while Apple, as one of the world's largest computer companies, has a market value of only $3 billion.

How the value of an enterprise is reflected is also one of the most important questions in economics and management. At the end of the day, it's a matter of faith.

Profit margin, market share, cost, expense, industry outlook。。。。。。 And so on and so forth, together make up the market's confidence in a company.

Although Apple is several times or even ten times the size of Matrix, it has more problems, and Apple now accounts for none of the factors that make up market confidence.

But Matrix is different, as a start-up company, it launched an epoch-making product called iCom less than a year ago. After just over four months, it is about to launch a second product, this kind of innovation and operational efficiency, a few streets away from similar companies, shows a staggering competitiveness, and the market will give its price-earnings ratio valuation higher.

As for Apple, in the past 96 years, Apple has suffered a huge loss of $1 billion, with a single-quarter loss of $390 million in the fourth quarter. In the first quarter of 97, it suffered a huge loss of 470 million, and although the loss decreased in the second quarter, it also lost 220 million US dollars. And depending on the situation, if Apple can't launch popular new products and further reduce supply chain costs, the losses will continue.

In this case, even if it is only three billion dollars, no one will buy it. There are not many companies that can afford to produce three billions, but there is really no company that is willing to lose hundreds of millions or even billions of dollars every year just so that Apple can continue to survive.

Acquisitions and mergers and acquisitions are not cheap things. Not to mention that it's not really cheap。。。。。。 Now it is 97 years, and the three billion dollars in this era are no less than the more than 10 billion dollars in the world purchasing power in later generations. With more than $10 billion to pay, but only to buy a company that is heavily in debt, has no hope of stopping losses, and is about to go bankrupt, how can you look at it and how it is not cost-effective.

The acquirer and the acquiree either complement each other in terms of business scope, or they can reduce the cost of competition. The most important thing is that there must be no serious clash between the two genetically and culturally, otherwise even the most beautiful M&A deal will end up failing.

For example, PwC's acquisition of Arthur Andersen looks beautiful, which not only solves the bankruptcy crisis caused by Arthur Andersen's fraud, but also allows PwC to sit firmly in the top four positions in terms of turnover, and also recruits Arthur Andersen to solve its own human resources problems.

But in reality, Arthur Andersen people left one after another due to corporate culture conflicts within half a year of joining PwC and joined Ernst & Young. The most important asset of the audit industry is people, and when people are gone, Arthur Andersen, which is left to PwC, is an empty shell. There is no doubt that this kind of merger and acquisition is a failure.

Because the genes of the two are completely different and incompatible.

It's the same with Apple's M&A, where there are too few companies that can match Apple's DNA. Dell, now worth $14.5 billion, is not without the strength to acquire Apple, and Stephen Grossman, the chairman of the Democratic Party, was also asked by DuPont to lobby for the acquisition of Apple, but Dell was unmoved, and said, "What will I do? I will just shut down Apple and return the money to shareholders." This famous quote in the face.

Dell made this gesture because he clearly realized that Apple and Dell are completely different companies, and taking over Apple, the corporate cultures of the two companies will have a violent conflict, and eventually Dell will go to the abyss together.

If there is any other company in the world that can resonate with Apple, it is Matrix.

Emphasis on genius, product perfectionism, unique marketing model, excellent and artistic industrial design, these are the genes that were originally engraved in Apple's bones, and now, they have been perfectly inherited by Matrix.

No, it's not just inheritance, it's strengthening.

In the blink of an eye, Moretz had a myriad of prospects in mind after Matrix acquired Apple.

"It's a great move, after the acquisition, Matrix will naturally be able to go public through the backdoor. It's killing two birds with one stone, no, it's three eagles. Moretz's eyes gleamed with excitement, "Zack, you're a genius. ”

There are two more more, which are being written.

(End of chapter)