The sun is fierce in California, and the heat of midsummer is unbearable.

Li Jiaming, who failed to steal chickens in New York, returned to the scorching heat of Silicon Valley and brought Kyle to discuss countermeasures.

Owen Jacobs' stroke caused Qualcomm's stock price to plummet again, falling to $71.25 per share, giving it a market capitalization of less than $8 billion. The reason why it did not fall into a junk stock is that its patent value may represent the future technological development direction of wireless communication, and many powerful investment banks are willing to take risks.

But for Li Jiaming personally, this is a big trouble. If the Qualcomm shares bought cannot be converted into patents and cannot become the help of HH, although the money will not be wasted, it will shrink by more than 1/3. If Li Jiaming is given another two to three years, he will not hesitate to forcibly acquire Qualcomm, but with the current technical foundation of Hanhua, he will be supported to death by that behemoth.

"Kyle, in your experience, what will happen to Qualcomm in the end?"

Even if Kyle has enough management experience and has studied a large number of commercial M&A cases, he can't help but smile bitterly. If there is no leader like Owen Jacobs, Qualcomm, which is already internally unstable, is likely to split, and then be acquired and spun off by the merger and acquisition company.

"The best outcome may be to be acquired by Texas Instruments or Intel, and your shares will be converted into shares of their company, and eventually they will shrink significantly. ”

Li Jiaming hesitated for a moment and asked: "Is it possible to cooperate with others and jointly merge with Qualcomm? For example, Taiwan's Lianke Development and South Korea's Samsung?"

Kyle, who had thought about these two paths for a long time, shook his head and explained: "No, if Qualcomm goes that far, their management, team, and shareholders will all gravitate towards Texas Instruments and Intel. It's not just a matter of race, it's also a matter of cultural differences.

Ming, you East Asian people are too hierarchical, and no American likes to work in that environment. It took the Japanese two decades to localize brands like TA. ”

What should I do? The old man is almost seventy, what is the chance of a stroke to be fully healthy?

Cold salad, just leave it to fate!

Fortunately, the sales of the iPod have greatly exceeded expectations, and they can earn two or three billion yuan this year, which can make people happy. After knowing that his mistake was irreparable, Li Jiaming could only comfort himself like this and divert his energy to the newly established HH Research Institute.

The research institute, which was established with an investment of more than 100 million US dollars, Li Jiaming intends to recruit employees according to the ethnic proportion of Silicon Valley programmers, and strive to promote the localization of the company, but it turns out that Yang Zhiyuan's statement is infinitely close to being correct. The Chinese have the best skills, the most hard-working, and the least likely to perform, but the Indians with the most accents are the bravest, often arguing with white programmers.

After nearly four years of nurturing by Zhang Zhaoyang and Wang Zhidong, although Li Jiaming is not proficient in writing programs, he can understand the issues debated by programmers, and often asks those compatriots to express their opinions by name. The result once again proved that Yang Zhiyuan was right, these compatriots did not have better ideas, but they were too mediocre and did not like to perform.

"Ming, you're wrong. It's not that your compatriots don't like performance, it's that they don't see it as a career, just as a place to get a good salary. ”

Kyle's arbitrary assertion was scoffed by Li Jiaming. Before the expansion of university enrollment, the national average college entrance examination admission rate was less than 35 percent, the high school admission rate was about 40 percent, and in many areas it was only 60 percent for elementary school admissions. Except for a very small number of geniuses with superior IQs, the vast majority of people have to get up earlier than chickens and sleep later than dogs in order to be admitted to prestigious universities and have the opportunity to study and work abroad.

After more than ten years of hard study, these people's desire to express has long been wiped out, and they are used to speaking according to their grades. When they start working, they habitually want to show their strength with their work performance, forgetting that many times it is better to do well than to say well.

"Perhaps", Kyle shrugged his shoulders and reminded, "Ming, this is the United States, if you want to localize, you have to follow the rules of the United States." ”

Of course, the branch must be localized, which is a strategic issue, and multinational companies that cannot localize will inevitably fail. However, American-style management is not without problems, and those who have the ability can stand out, but there are also many talents who are not good at performance.

But there is no way to do this, there is no perfect management system in the world, and compared with China, the Americans are more advanced, at least more applicable to the United States. Li Jiaming wanted to implement the last elimination and tenure system implemented in Lifang and Hanhua here, but after in-depth understanding, he found that it would not work at all.

In China, bosses can fire employees if they feel that they are not qualified, as long as they make up a few months' wages according to the law; some black-hearted bosses do not even pay the wages they should give, let alone the compensation required by the law. But in the United States, the laws are outrageously complete, and instead of firing an employee and giving him handsome compensation, it is better to find an inconsequential position and let him stay until the end of the contract. Idle him for at least a few years, it is possible to ruin this talent in case it is used by competitors.

“*!” Kyle, who was afraid that the boss would not understand the situation, explained the pros and cons, and he himself couldn't help but burst into foul language, the umbrella of the professional manager in the past has now become a tight spell for him and Li Jiaming.

"Okay, we won't talk about these things, and we will continue to implement the localization strategy unchanged. Now, let's talk about what I talked to you about last time. For the development of 1,000 acres of land, I asked someone to calculate, and to build the research institute we want, at least more than one billion dollars of funds will be needed, what do you suggest?"

Loans, the only way, the United States loan interest rate is half lower than the domestic one, and there are preferential policies to attract investment. It's just that this amount is not easy to control, and Kyle knows that Li Jiaming is a character who doesn't cry when he doesn't see the coffin, otherwise he wouldn't let go when Sohu was in crisis. It's fine to borrow $1 billion from a bank alone, but that would require a pledge of more than 20% of the shares, and given the amount of money Qualcomm might need, Kyle, as the group's CEO and director, had to minimize the risk. Those bankers are not good people, and they will never be soft-hearted if they have the opportunity to bite a piece of meat on the HH company.

"Ming, I have a suggestion, Jerry cashed out a lot of shares last time, and now it is not the tax payment date, can you convince him to invest? Although the last investment case with Yahoo failed, the valuation of our company is also recognized by them, and they can tie all of them to our chariot. ”

Dividing out possible future benefits also means reducing the company's risks. This is also a solution, now is not the time to start, you have to control the risk, you can no longer bet on everything at every turn. But that kid is not easy to persuade, last time he proposed a gambling plan, but he still refused.

"No, it's not a few months ago, he is known as the god of yahoo, is he really so god?ming, the cash in his hand needs investment channels, and he has little interest in traditional business, we just need to make sure that the risk of mobile phone research and development is controllable, he is very likely to agree. Another thing you should forget is that many of Yahoo's board members represent investment institutions, and they also need investment channels. Now that the stock market is in a recession, almost half of the Internet companies, except for the physical companies, have fallen into junk stocks, and large institutions like them are used to being conservative. ”

Li Jiaming thought about it and felt that Kyle was right, Yang Zhiyuan's character was actually very indecisive, although there had been some changes, he had completely changed into a daring person, otherwise he would have dared to bet last time.

"Okay, you go try again. If he agrees, we can give him equal rights without reducing his voting rights. Of course, if he doesn't have this intention, then talk to those investment institutions. ”

Kyle nodded knowingly and said yes, Yang Zhiyuan has character flaws, and he also sees it in his eyes. Bringing in such shareholders will not seek control of the company, which is much safer than bringing in large institutions, and Yang Zhiyuan's prestige is at its peak, far more socially influential than those institutions.

"Also, my sister is coming to the United States to play, so let's come with Betty. ”

"Be a tour guide?"

Even if it is, those little radish heads, few white children are staring, and the ghost knows what kind of demon moths will come.