readx;? Jin Dong'er's temper will not give Liu Jiang face, after Liu Chen left, Liu Jiang defected without saying a word, she always felt ashamed of Liu Chen in her heart, and she was not optimistic about this stinky and shameless guy, and she was black all her life. Pen "Fun" Pavilion www.biquge.info

How did you forget this vicious-mouthed girl, Liu Jiang was remorseful for a while, but he didn't dare to refute, for fear that this girl would pour out everything in her anger, and she sat back and didn't dare to talk back, but she hated it very much.

Memphis is a good person, he noticed something, and said with a smile: "Don't worry, the plane will land soon, Liu Chen, when we get to Jianghai, let's have a good chat." ”

The more first-class, the more upper-class people care about face, especially the face in this circle, in fact, this circle is really not big, especially in such a confined space on the plane, a little bit of gossip spreads very fast, and there are several people here who know the details of Liu Jiang, what they have captured from Jin Donger's words, and carry out rich associations.

Liu Jiang also knew this, and he didn't say a word behind him, and as soon as the plane landed, he said to Memphis, and was the first to rush out.

Liu Chen took Jin Dong'er and Memphis to go out together, Memphis looked at Jin Dong'er with a thief, this old guy has an outstanding temperament, staring at it, and it doesn't look obscene, Jin Dong'er glared, and said angrily: "What do you see, haven't you seen a woman?"

Memphis laughed, "Miss Kim is quick to talk and has a lot of personality. ”

Jin Dong'er looked at Liu Chen's face, and no longer bothered with him, Liu Chen said, "Professor, wait for someone to pick it up?"

Thinking about the flattering boss Wang Chunlai at the airport last time, and the bad things he encountered when buying a car, he didn't want to contact Boss Wang again.

"No one answered, and I was about to give you a ride. Memphis was not polite and said with a smile.

"Okay. Of course, Liu Chen would not refuse.

Memphis was very surprised when he saw the car driven by Jin Dong'er, his eyes widened slightly, and after sitting on it, he sighed: "You have a saying in Huaxia, Shibei should be impressed in three days, I didn't expect your shotgun to change guns, this car is worth a lot of money." ”

Jin Dong'er snorted, not interested in this old guy in a suit and leather shoes who was not very serious, "Of course." ”

"Did the professor gain anything from going to the deep city this time?"

Liu Chen knew that he was going to study Apple's layout in Huaxia, as well as Gumei Company, which was precisely what he was interested in, especially when he walked with Liu Jiang, he must also have a certain understanding of what Jiangdong e-commerce is.

"Jobs laid out the Chinese market in advance, I really don't understand, with my understanding of the Chinese people, as long as the products sold in the European, American, and Japanese island markets will definitely be sought after in China, which has been a tried and tested truth. ”

"Truth is a fart. Jin Dong'er didn't forget the professor when she drove, "We Huaxia people are so cheap, and the sound master is not used well." ”

Although she didn't admit it, Dong'er still agreed with the old guy's remarks in her heart.

Liu Chen touched his nose, Huaxia people are indeed like this, at least before and now.

"I always feel that the market that Apple should consolidate the most is Rijima, after all, Soni's reputation in Nichishima is deep-rooted, and it is difficult to guarantee that Soni will not make a comeback after a temporary setback. Memphis analyzed very professionally, "Liu, Jobs's decision to enter the Chinese market is not related to Yinba, he made a special trip to Boston last time to discuss with you, whether he hopes to reach some degree of cooperation with Yinba, and the result is not ideal." ”

Liu Chen smiled, noncommittal, and said secretly, the professor is indeed powerful, ** not far from ten.

"What does the professor think about what happened yesterday in the United States?"

"I just knew, and before I went into the investigation in detail, I had asked the students to collect information and send it to me, and the stock price fell so much at once, and I was facing lawsuits from two companies, and Mr. Jobs's situation was not good. ”

"Will that lead to another expulsion from the board of directors?" Liu Chen was a little worried, selfishly did not want Jobs to leave Apple, after all, the iPhone project still needs to be presided over by him, and it would be a pity if this world-changing product was stillborn.

Memphis shook his head, "Absolutely not, Levinson, the chairman of Apple, will not be as limited as those mercenary businessmen, and besides, the right to speak after Jobs returns is not the same as when he left." ”

Liu Chen was puzzled by this point, and said: "At the beginning, Jobs was the founder and the largest shareholder, so there was no guarantee to stay at Apple, and now he is only the CEO, and the shares are pitiful, why is he more vocal?"

"To clarify this issue, we need to analyze Apple's financing process, the pre-IPO shareholding structure and the company's power structure over the years. Memphis said, obviously very satisfied with Liu Chen's attitude of seeking advice, a person understands a lot of knowledge, if you don't express it, it will be uncomfortable in your heart, Mr. Professor belongs to this category, so whether it is a plane or a car, he is the protagonist of the rhetoric.

"It's all right, Mr. Professor, you speak slowly, I'm interested. Liu Chen's thirst for knowledge is very strong, which is a question he has been bothered by.

"Then I'll tell you about it, Apple was founded on April 1, 76, the founder Jobs 45%, Wads 45%, Wayne 10%, soon after Wayne withdrew, Jobs spent $800 to buy back shares, and his proportion became 55%. In August '76, Makula bought $91,000, and the planned shareholding structure at that time was 26% for Jobs, 26% for Wads, and 26% for Macula, with the remaining 22% to attract new investors. ”

Liu Chen nodded, listening very carefully, Jin Dong'er said angrily: "What's the big deal about this, I can also find this information on the Internet, isn't it easy to endorse?"

The old Memphis face was a little embarrassed, and said, "Little girl, don't be anxious, listen to me first." ”

"Don't be surprised, Professor, you continue. "Liu Chen can't do anything about Dong'er.

"In January '77, the new Apple was founded, and the shareholding structure became 30% for Jobs, 30% for Woz, 30% for Makula, and 10% for Holt, the engineer. ”

Dong'er's words made Memphis very beautiful, and added a little trick.

"Being driven out by the company he created, Jobs was the first. Jin Dong'er pursed her lips and said that because of the iPod's entry into China, she didn't have a good impression of Apple and Jobs.

"At the end of '79, Apple introduced pre-IPO mezzanine financing, with a total of 16 capital companies such as Xerox, Ross, and Morgan, as well as some individual investors. On December 12, 80, Apple's largest shareholder Jobs was diluted to hold about 15%, the second largest shareholder Makula held about 7 million shares, accounting for about 11.4%, the third largest shareholder Woz held 4 million shares, accounting for about 6.5%, and several other start-up members did not have a dime. In '81 and '83, Macula served as Apple's CEO, which was also a key point. ”

Hearing this, Liu Chen gradually understood that the contradiction had been buried, just waiting to erupt, and the confident and domineering Jobs didn't care at all.

In '83, Jobs invited PepsiCo President Scully to join Apple, serving as Apple in May of that year, with the support of the board of directors Makula, Scully relieved Jobs of his position in the Macintosh department, and only retained the false position of chairman, and in September of the same year, Jobs resigned as chairman, left Apple, and founded Next Software. ”

"Marcula was unhappy that Jobs asked Scully to be CEO, and Watts also thought that Jobs had changed, so it was a tragedy, right?"

"If the company's sales have been strong, these contradictions will be swept under the rug, and unfortunately, Jobs is paranoid about tossing, and Apple's sales and profits are getting worse, so it can only get out. ”

Liu Chen muttered: "From 85 to 97, Makula served as the chairman of Apple, in December 96, Apple acquired Next Software Company, before Jobs returned, Makula had to leave Apple, 12 years have passed, Jobs's temperament is really big, and he has always been very resentful of Makura." ”

The two didn't negotiate from the beginning, and now they are fighting each other, and Jobs now hates the number one on the list, I'm afraid it's himself, Liu Chen thought self-deprecatingly, there is no possibility of reconciliation between the two.

"It's narrower than a woman's heart. Jin Dong'er came to say.

Memphis said: "Maybe it's because of this resentment that he can get out of a different path from others." ”

Liu Chen also smiled: "Eccentricity is not terrible, mediocrity is unbearable." ”

This sentence is well said and very philosophical. Memphis gave a thumbs up.

"Professor, why didn't Apple use a two-tier shareholding structure to ensure that Jobs had enough control when it went public in '80? Was Jobs not strong enough to get shareholders to accept it? Or was it something else? "After discussing the composition of the board of directors of listed companies in the United States with Xuezi last time, Liu Chen also read some books on this subject.

"What kind of double-layer structure, how to play?" Jin Dong'er was also curious.

"I can't tell, but the professor will explain it to you. ”

Memphis was very proud, little girl, I don't understand, my voice was raised a few degrees, and said: "The two-tier equity structure is generally set up for the founders and senior managers of the company when it is listed, and the purpose is to make the existing management of the company continue to control the company with super voting rights when the stock share is diluted after listing." ”

"What's so awkward? Jin Dong'er shouted.

"It's that the stock that goes public doesn't have voting rights, right, Professor. ”

"yes, that's it. Memphis wanted to show his knowledge, but he could only touch his nose in embarrassment.

"The real masters are the ones who simplify the profound questions, and the most powerful ones are those that elementary school students can understand. Jin Dong'er didn't forget to sneer.

Memphis continued: "A lot of companies go public with a two-tier structure, and the super voting stock is controlled by the founders, like Ford, and Berkshire's super voting stock is Buffett and Munger. At the time of Apple's IPO, if you want to establish a two-tier equity structure, it should be completely fine. At that time, those investment institutions were in the role of taking a handful and leaving, and did not care about the control of the company. At that time, Jobs, Wads, and Marcoura accounted for the vast majority of the shares, had absolute control over the company, and the three of them were entrepreneurial partners, wearing a pair of pants, if they wanted to establish a two-tier equity structure, it was no problem at all. ”

"Why don't you make a double-layer structure?"

"My bold guess is that maybe Jobs knew that even if he built a two-story structure, it would be useless, and the crux of the problem was not this. ”

"Why?" Liu Chen was really a little confused, Jin Dong'er also listened with his ears, and the car was a little slower.

Memphis was satisfied, and paused deliberately, "If you have a two-tier equity structure, Jobs, Watts, Marcoura, and other executives who hold a few shares, these people's shares will definitely be Class B stocks with super voting rights." It is impossible to say that only one person was given super voting rights to Jobs, and the others were common stock. ”

Liu Chen immediately understood, and did not interrupt the professor's words, he had always wanted to fully understand Apple's past and present life, and today happened to be an opportunity.

"Without establishing a two-tier structure, after going public, the combined shares of Jobs, Woz, and Makula will exceed 30%, and they will basically be able to control the company. Therefore, for Apple at that time, as long as the three of them could wear a pair of pants all the time, the control of Apple would be in their hands, and in the same way, even with a two-tier structure, the three of them would have to wear a pair of pants to control the company. ”

Liu Chen sighed, after Apple went public, Makula served as CEO, but Jobs went to Scully, the president of Pepsi, and Marcula had to stand aside. Scully and Steve Jobs spent only one year on their honeymoon, and the two had serious disagreements over the company's business strategy. Eventually, Scully was relieved of Jobs with the support of the board. In this operation, Makula sided with Scully, and Jobs had expected Makula to support him.

Hatred and resentment are planted, and when Jobs is about to return, the first thing he does is to get Makura out.

Even if Apple set up a two-tier shareholding structure at the time of the IPO, then Jobs, Marcola and Woz all have super voting rights, and without Marcura's support, Jobs will still be kicked out of the company.

Jobs's personality is like fate, on the other hand, he is easy to trust others, and before Makula made a statement, he always thought that Marcula would support him, and it was inevitable that he would be so hurt.

Thinking of this, Liu Chen's heart was a little heavy, in this confrontation, he did not resent Jobs at all, and even looked forward to the opportunity to cooperate in the future, but with Jobs's temperament, it seemed very slim.

"What would have happened if Jobs hadn't left Apple?" After a moment of silence, Liu Chen suddenly said faintly.

History has no ifs, no one can predict this kind of unknown thing, Liu Chen is still willing to think about this possibility.

Memphis still maintains a calm mind, and if you do research, you can't mix feelings, otherwise it will be difficult to ensure justice, saying: "In 81, Apple achieved revenue of 335 million US dollars, in 82 years, 583 million, and in 1983, it entered the Fortune 500 list, ranking 411th, becoming the fastest growing company in history." Personally, I would like to say that if Steve Jobs hadn't left, the current PC market would not have been dominated by Microsoft, and Apple would probably cut off more than 20% of the market share, and the world pattern might change as a result. ”

Liu Chen's heart suddenly jumped, and he had a very frightening thought. (To be continued.) )