The spring is bright and beautiful, and the manor with a sense of historical vicissitudes is full of flowers

。 The leisurely Li Jiaming strolled through the picturesque scenery and exchanged views on the new Internet economy with Ms. Agnese, who accompanied him on the tour.

Bubbles are not terrible, but whether companies that survive after the bubble bursts can become representatives of the future; It is worth exploring whether the future development of the Internet needs or is driven by content-driven technology, or whether technology drives content or needs.

Mr. Robert and Kyle were left behind and haggled as they walked.

When the bubble burst, whether Yahoo will give up or continue to invest in HH will have to be discussed and fought for. If Mr. Robert and Kyle can't reach an agreement in time, then they will have to give up, because Yahoo's matter is more important, which the two agreed on before they came.

The industry is going to enter a cold winter, and it is impossible to predict how big the impact will be, but it is also a huge opportunity. When the bubble bursts, many companies will go out of business, a large number of talented people will lose their jobs, and their salaries will fall, which is good news for HH companies with weak technical foundations.

Of course, the premise is that Yahoo continues to finance as usual, otherwise with the current strength of HH, it will not be able to independently undertake the construction of a system project, and this project is beyond the existing technical conditions. If Yahoo gives up financing, it can only shrink temporarily, give up setting up a research institute in the United States, bet all its chips on Wang Zhidong and Ren Yanpin, and rely on cheap manpower and sufficient time to build.

Therefore, the key to everything is not here, but Yahoo, which has billions of cash in hand, will not take the risk of investment. After all, Ms. Agnese has a lot of connections, which the company can use in the future;

For Ms. Agnese, a famous lady, the opportunity to invest in HH has now become a chicken rib. Yes, HH has huge potential and is likely to monopolize the future digital music market, but once the Internet economic bubble bursts, it will inevitably produce many high-quality assets with great value for money. In contrast, if HH is unwilling to budge, is it still the best option to invest in HH?

Of course, she and her husband also knew very well that HH was unlikely to back down. Although the stock market has fallen, how much impact can it have on HH companies, whose main product is iPod, which is not listed, and is short of cash? When the stock market falls, everyone will not buy iPods and listen to music?

What's even more beneficial to HH is that after Columbia Records licensed to iTunes\/Store, in just four months, its performance not only stopped falling but also rebounded slightly. This proves that the profitability of iTunes is predictable, and the market prospects of iPod and iTunes are superimposed, and it is not worth the valuation of 10 billion?

By the time Li Jiaming finished visiting the manor covering an area of hundreds of acres, Kyle and their negotiations could not continue, one side asked for concessions, and the other side insisted on not giving an inch, how could this be negotiated?

When the two turned around, the other two spread their hands and smiled bitterly, and Li Jiaming and Ms. Agnese also looked at each other and smiled bitterly. For Ms. Agnese, what survived after the bubble was high-quality assets worth acquiring, and investing in them may have a higher rate of return than HH; for Li Jiaming, since he decided that if Yahoo refused to invest and immediately put R&D in China with low labor costs, he no longer needed the other party to share the risk for him, how could he easily make any concessions?

Yes, three years ago, Li Jiaming borrowed money from Ms. Agnese through Kyle, but it was a 50% overpayment of interest according to the interest rate of Bank of America, and promised to give priority to the sale of Sohu shares; before the IPOD went public, Ms. Agnese helped HH Technology get the first license from Columbia Records, but she also received a 5% financing priority and a 20% discount.

Both sides owe each other.

"Ming, can you tell me what areas you will develop new business in if you get financing from Yahoo?"

This can't be hidden, even if you can't get Yahoo's investment, Kyle will go to Ericsson to buy patents, Li Jiaming also said happily: "Studying the new generation of mobile phones, I have always dreamed of connecting physical products with the Internet." I cashed out 15% of SOHU shares, also all in this direction. If we don't get Yahoo's investment, we will focus on the research and development in Huaguo, and we will spend five to six years to make a disruptive mobile phone

。

Ms. Agnese, you need not doubt my determination, the iPod took us two years and invested almost all of my property. Now that the iPod is successful and can provide us with a steady stream of funds, the rest is up to the efforts of the technicians. ”

It is another risky product, and compared with technology giants such as Motorola and Nokia, HH does not have any technical accumulation in this area.

But Ms. Agnese and her husband had to face up to Li Jiaming's idea, in addition to the strong self-confidence of this Chinese young man, it was also based on the emergence of iPod. More importantly, this young man can jump out of the traditional business model, prepay hundreds of millions of dollars in royalties to several major record companies, and occupy the online music sales market that is still only a concept in one fell swoop.

However, capital is the most greedy and the most timid, and Ms. Agnese and her husband eventually chose to give up on investing in HH, which seemed to have unlimited potential, compared to the so-called 'quality assets' left behind after the bubble burst. When parting, Ms. Agnese also gave Li Jiaming a promise that she would continue to help Zhao Wei break into Hollywood.

However, there is no use for eggs. As soon as he came out of the manor, Li Jiaming scoffed at this promise. This is just an insurance policy for themselves by others, and if HH is listed in the future, they can rely on this worthless favor to participate in the IPO and get a vote.

"Kyle, I bet the vast majority of Ms. Agnese's future investments will fail. ”

Kyle, who was driving, glanced at the magnificent manor in the rearview mirror and agreed: "Ming, maybe it's a good thing that they don't invest in our HH company, and their philosophies are too different from each other." Fortunately, they are used to being conservative and do not put all their eggs in one basket, otherwise the consequences will be unimaginable. ”

Uh, this is trying to persuade yourself not to be too aggressive?

"No, I'm just advising you to bet all your chips on the success of a project when you don't have a partner to share the risk, and we can't bet all your chips on the success of a project like you and Chails founded Sohu. ”

It's a little conservative, but it really needs to be conservative, you can't do anything else with all the bets, and if you fail once, you will lose everything. It is said that the meaning of life is to break through yourself, which really makes you risk everything and become a penniless poor bastard, and no one with a bad brain will do that kind of thing. The essence of modern business is to share risks, not to take risks alone!

However, that is not Li Jiaming's style, either lose big or win, and he will never act conservatively without using up the memories in his head. It is true that there is a huge risk in developing a product that is out of date, but as long as the research and development progress is controlled, it can be supported by the profits of HH.

Son Masayoshi, the Japanese monkey, continued to increase his weight when he saw the opportunity, how could Li Jiaming easily give up the opportunity to others? If it weren't for the fact that Agnese has deep connections at the top and has promised to participate in the formulation of industry standards through her, Li Jiaming would not want her to invest.

But these words can't be said, only unity within the company can have combat effectiveness, Li Jiaming smiled and encouraged: "Do you have a way?"

"I want to find new partners and if possible, when our HH is on the right track, I want to go public. ”

Cut, under the stock market crash, cash is king, who will take this risk?

"Okay, I'll manage the company, and you go looking for new partners. ”

“ok”

Kyle got the support of Li Jiaming, and asked about today's conflict, he and the young man obviously knew each other, why did he still shoot so hard?

"Kyle, he's Zhi's ex-boyfriend. ”

Of course, Kyle knew the right-hand man in the company, Li Jiaming's classmate and assistant, and of course knew that Ruan Zhi had committed suicide due to emotional injury, but he didn't expect that there would be such an opportunity to meet in such a big New York.