Chapter 191 Investment Philosophy

Bill Green was a little dumbfounded, and it was really easy to get lost in this feeling for someone like his boss Tony Jiang who relied on a single ALL IN to achieve great success.

He has an in-depth understanding of Jiang Yizhou's past experience, and finds that this is a firm understanding of his own products and career, which cannot be said to be confident.

His thoughts can be seen from his spin-off of elink, which is why many venture capitalists are willing to sell their shares to AOL, and they see Jiang Yizhou's willingness to give up.

"Bill, don't be so nervous, isn't there still hundreds of millions of dollars in the company's accounts? At present, Arumes does not have the ability to carry out PE investment and undertake IPO ability, I know myself very well, now I can only do VC investment, I think within two years, if you have your character, there is no need to worry about lack of money!"

Jiang Yizhou is naturally referring to the current situation of Arumes, which is only one of the smaller of many venture capital companies in Silicon Valley, and is still building the company's structure little by little by him and Bill Green, and its reputation is even smaller, so he can only choose some start-up projects to invest in.

What's more, Bill Green has always been known for his caution, and Jiang Yizhou has nothing to worry about, but he will not be infected by the current habit of Silicon Valley companies to spend money indiscriminately.

Bill Green is just out of risk considerations, like Boss has a heavy position in Yahoo's stock, even to the point where shareholders have entered the board of directors, and some of them are tied to Yahoo, once Yahoo's stock price falls, he can't afford this kind of risk.

It's not that I'm worried about the problem of funds, these can be solved by equity pledge and bond issuance.

"Now that you've decided, boss, can I hear why you made that choice?"

Why? Because Yahoo's stock will rise 50 times in the future and become a large company with a market value of 100 billion dollars? Jiang Yizhou naturally can't say anything.

"It's very simple, because of Yahoo's fame, in the eyes of many people, Yahoo is synonymous with the Internet, the content it created is free, the advertising charging model has a strong popularity and user volume, if one day the content is also charged, or the value is inflated, I will not hesitate to throw Yahoo stock, but now Yahoo, with the growth of the Internet, it will also soar!"

Bill Green nodded reluctantly, these words have long been the experience of the portal, and they are used to draw a big pie for the public.

Anyone can say a bunch of big truths, blow a product with no profit prospects, or devalue a product because of some so-called experience.

This kind of simple saying is so simple that if you believe it, you will really be a fool, and it is very popular in this bubble era, or in the era when the Internet is not yet mature.

One of the biggest examples is Netscape, whose browser many now believe can threaten Microsoft's operating system status.

Because in the era of the World Wide Web, Netscape has drawn a big pie for itself, that is, all operations can be realized through the browser, there is no need to have an operating system on a computer, all kinds of software, as long as there is a browser online, you can give up other software.

Jiang Yizhou was also amazed by this absurd history when he first learned about this story, but the most important thing is that not only many investors and shareholders believed in the prospects depicted by Netscape at that time, but even Microsoft believed it, and even Netscape itself believed it.

As a result, Microsoft and Netscape got on the bar, and the result was the decline of Netscape, and Microsoft's lawsuit with Netscape led to the bursting of the Internet bubble.

Executives and investors at Yahoo's headquarters in Sunnyvale didn't have a very good attitude towards the uninvited guest, and in any case, it would be unsettling for a guy to suddenly pop up and buy a 15 percent stake in the company.

However, Moritz of Sequoia Capital told the two founders not to worry.

Because Sequoia still holds a 3% stake in Arumes, Moritz easily contacted the Chinese kid who had just sold his startup and became a billionaire, from him, at least he learned that there was no intention of acquiring it, and Jiang Yizhou's optimism about Yahoo was far beyond Moritz's imagination, and now it was just too much equity to acquire.

Jiang Yizhou's words naturally can't be fully believed, but this kind of thing will not deceive him, after careful investigation, it was found that there was no other person behind Jiang Yizhou, it was just his personal decision.

"Mr. Moritz, it's a pleasure to meet you, I didn't expect you to come too!" Jiang Yizhou walked into Yahoo's headquarters, this well-known investor who is optimistic about his Arumes Technology (different from Arumes Ventures), he has wanted to know for a long time, and he received a call from Moritz on the phone before, and he also bluntly explained his intention to make this acquisition.

"Tony, welcome to Yahoo, introduce, Yang Zhiyuan, and Fei Luo, the two founders of Yahoo, this is Tim Kugel, now the CEO of Yahoo......"

Under Moritz's matchmaking, Jiang Yizhou quickly recognized all the members of the board of directors, except for SoftBank's Masayoshi Son, who was not there and appointed a representative, everyone else was present.

When the meeting began, Jiang Yizhou sat down beside Moritz.

After successfully adding Jiang Yizhou as a member of the board of directors, Jiang Yizhou, as he told Moritz, did not interfere in the daily management of the company, just like a normal financial investment.

"Mr. Jiang, I don't know if you have anything to say?" asked Tim Coogel, who had barely said a word, as the new director began.

Jiang Yizhou smiled, "I'm quite optimistic about the future of Yahoo, if there is any proposal, I will take the initiative, but I think the current Yahoo is quite in line with my mind, and there is nothing that needs to be changed!"

Hearing Jiang Yizhou's words in person, everyone's minds naturally relaxed a lot, but they felt that it was not realistic.

"If I need advice, I'd like Yahoo to support my Foxmail mailbox, and I've heard that Yahoo is planning a free email service right now......"

Jiang Yizhou's words were both relieved and worried as soon as Tim Cooger was transferred, which was in line with normal performance, and then the board of directors began to discuss around foxmail.

The point is whether to buy Foxmail or provide mail services by Foxmail, because Yahoo has not yet withdrawn from its free email service, which would be a good thing if it could get enough of a full-fledged email service with millions of users.

Because of the bundle with qim, and its own excellence, even because of the acquisition of qim, foxmail has now accumulated 4 million users, second only to Hotmail, is currently the hottest free email service.

But Jiang Yizhou does not plan to give up Foxmail, and only hopes to provide email services for Yahoo in the name of cooperation.