It is rare for such a salon to discuss business matters on this occasion, because it is not in line with the purpose of the salon. Everyone is together just to relax or to talk about some topics in life. It's not more about art or sports, such as the role of a painter, antiques in the auction house, horse racing, fishing, hunting, etc., for these things, although Zhou Liwen is not very proficient, but he also listened to it with relish on the side, and even when Sir Charles talked about fishing, Zhou Liwen also discussed with him about the experience of sea fishing, and talked about himself and Richard and others going out to sea to fish.

This said just scratched Sir Charlie's itch, although Zhou Liwen only knew a little about sea fishing, but this did not affect Sir Charlie's interest in talking, the two discussed this, and soon attracted the attention of the other two guests, and after a while, they also joined the conversation, saying that their eyebrows were dancing and they were elated.

Lin Yaxuan and several noble ladies who participated in the salon whispered about the topic between them, women, are nothing more than fashion, dress, flowers and plants. It can be seen that Lin Yaxuan is also chatting very happily, and from time to time they also let out a soft laugh.

There is no fixed end time for the salon, everything is up to everyone. But after half past ten in the evening, except for a few people who seemed to be talking about something important, the rest of the people basically dispersed. Zhou Liwen and Lin Yaxuan also got up to say goodbye to everyone, everyone nodded politely, and then they went back to the room to rest.

The next day, having breakfast in the apartment, Mr. and Mrs. Chow thanked Mr. Barak for his hospitality, and then bid farewell to Count Herbert. Earl Herbert also specially sent his driver to send Zhou Liwen and his wife to Frankfurt, and when Frankfurt arrived, it happened to be noon, and after a little rest on the plane, the captain received a notice that he was allowed to take off, and the plane taxied on the runway for a distance, and then flew into the air, carrying Zhou Liwen and his wife out of Europe and going to the east of the United States.

Back in the United States, Zhou Liwen and his wife stopped in New York, Lin Yaxuan went to the foundation, and Zhou Liwen went directly to the investment bank headquarters.

When he arrived at the investment bank, Aaron was already waiting downstairs.

"Hi Aaron"

"Hi Boss"

Zhou Liwen smiled and hugged Aaron, who is now the president of the investment bank, leading an elite team to take care of the investment bank. Although the main work assigned to Aaron before was a project for Samsung Group, because of the incident of Samsung Group after that, there were some accidents, so this project is no longer the main work of the investment bank in a sense. According to Aaron's arrangement, although the investment bank still maintains some operations in the Samsung Group's project, the main energy of the investment bank has been shifted from this, and through the impact of a series of events such as the subprime mortgage crisis and Lehman Brothers, it made a decisive move on Wall Street and quickly became famous.

Moreover, this time, although the listing of Huhai Bank and the Internet Group under the name of Zhou Liwen was operated by Wells Fargo and Goldman Sachs, especially the listing of the Internet Group was basically dominated by Goldman Sachs. Aaron, who is more shrewd and stronger, also saw this opportunity, and after getting Zhou Liwen's consent, he used this opportunity to cooperate with Goldman Sachs, and won a lot in the securities market by taking advantage of the listing opportunity.

"I've read the email you gave me, it's good" took the special elevator upstairs and came to Aaron's office, Zhou Liwen sat down and praised the other party with a smile.

"It's just a chance, it's not worth mentioning at all, and it would be nice if it was someone else." Aaron modestly said, who said that Westerners are straight and humble and unmoving? The people who say this do not understand the Western world at all, you must know that Westerners are not fools, they will definitely insist when they should insist, but they will also be humble when they are humble, and the Chinese will also understand a set of them, and even more important and appropriate to use on a certain occasion.

Like Aaron now, he is more modest than the average Chinese, but it would be a mistake to think that he is really modest, because the next sentence reveals his true intentions.

"We are not a securities institution, and too much speculation is not a good thing for a healthy investment bank. What's more, as I just said, we are just borrowing an opportunity, and this opportunity is in our hands, whether it is me or anyone else, the difference between each other is just a matter of making more and making less. ”

Zhou Liwen looked at Aaron with a smile, he knew that Aaron had something to say next, and raised his hand to signal him to continue.

"The main job of an investment bank should be to invest, that is, to make venture capital investments in promising companies to get the most out of them in the early stages," Aaron said. It's like the boss who invested in Ahri, where you only spent a small amount of money and now reaped a huge return. Aaron gestured with his fingers, with a yearning look on his face, if you look at it from a professional point of view, Zhou Liwen is not as good as Aaron at all, but what makes Aaron admire is that all of Zhou Liwen's previous investments have not failed, and he has also received a terrifying rate of return.

Not to mention the company, the rapid rise of OR in the smartphone industry is already a legend, and at present, some university business courses even write the rise of OR and a series of decisions of Zhou Liwen into the textbook to use as a subject. And Zhou Liwen's investment in the network group, that is, Ahri, is what Aaron admires the most, because compared with Zhou Liwen's other industries, this investment has obtained thousands of times the rate of return after the network group went public, and according to the future development, this number will continue to grow.

As an elite in the financial world, Aaron is not satisfied with just speculating in securities, not to mention that he is now the president of a large investment bank. In this capacity, Aaron originally wanted to rely on the Samsung Group's project to make Zhou Liwen truly recognize his ability, and changed from a senior employee to Zhou Liwen's partner. It is a pity that due to the complication of the Samsung Group project, the chances of success of this hope are already slim. Although Samsung's project has not been stopped under Zhou Liwen's instructions, Aaron, who knows the inside story, knows very well that the current task of the investment bank in the Samsung project is only a supporting role, and it is just a preparatory plan made by Zhou Liwen to prevent accidents.

Then, in addition to the Samsung project, Aaron must be recognized by Zhou Liwen in the real main business of investment banking, that is, to successfully complete a big project to ensure his position. In view of this, Aaron frankly told Zhou Liwen that his speculative success in securities is not his only ability, and he has not shown what he has shown.

"Dear Aaron, what, do you have a good purpose?" Zhou Liwen listened to what Aaron said, and asked with a smile very knowingly.

"Of course, if you don't mind, I'd like to have a good talk with you."

Of course, Zhou Liwen didn't mind, raised his hand and motioned for the other party to sit beside him, and then listened attentively.

Aaron, who had been prepared for a long time, explained his idea to Zhou Liwen, according to his idea, the main direction of investment banks is to find suitable partners for venture capital, as well as to carry out some large-scale mergers and acquisitions. These are the real foundation of investment banks in the future, and they can also bring huge benefits to investment banks.

For the project object, Aaron put forward three points, the first is the high-tech industry, that is, the IT industry and some cutting-edge technology high-tech companies to invest. For example, Zhou Liwen's original or company, as well as Zhou Liwen's own Alipay and Internet companies, etc., and for venture capital in the high-tech industry, this is the main goal of most venture capital, with the advantages of large returns, short cycles, etc., of course, there are also disadvantages of large investment and high risk.

The second is the high-tech development industry of public utilities and traditional industries, although the investment object of this investment is also large, but the problem is that the risk is small, and the long-term return is good, but the short-term return is relatively poor. This is also the object of general investment banks.

As for the third is mergers and acquisitions, this kind of business is not only carried out by many investment banks, but even some large banks are used as some of the main business methods. The key to this kind of business lies in the capital operation, after a series of capital operation means, the profit of the M&A business is no less than the success of venture capital in the high-tech industry. But there is also a problem, that is, the success rate is relatively low, coupled with some internal and external uncertainties, there are relatively few places that can be fully grasped.

"Do you have a goal?" Zhou Liwen did not comment on the advantages and disadvantages of the three aspects proposed by Aaron, because he knew that the reason why Aaron analyzed in such detail with himself was not to teach himself a lesson, and he was afraid that he had already chosen some goals when he said this, just to let himself know more about the difference between the three.

As expected, Aaron nodded with a smile, he got up and walked to the desk, took out a folder from the drawer, returned to his seat and handed it to Zhou Liwen: "Here are five target plans, you can take a look at them first, three of them are venture capital projects belonging to the high-tech industry, one is private equity investment in traditional industries, and the last one is mergers and acquisitions." ”

It seems that he guessed correctly, Zhou Liwen smiled on the corner of his mouth, and after taking it, he opened it and looked at it.

As Aaron said, the first three are venture capital projects in the high-tech industry, two of which are venture capital from Internet companies, while the third is a venture capital from a project that makes high-performance batteries. Zhou Liwen took a closer look at the content, and nodded secretly while reading, it seems that Aaron has made many deletions before giving himself this thing, of course Zhou Liwen will not think that Aaron is only disgusted by these five targets from the beginning. If he guessed correctly, the five goals were Aaron's picks from hundreds or even thousands.

I can't help but admit that Aaron has a good vision, at least in Zhou Liwen's view, these three high-tech venture capital projects have very good prospects. Zhou Liwen, one of the two network companies, had heard of it in his previous life, but he didn't know about the situation in detail, and the big high-performance battery in the end made Zhou Liwen even more interested. You must know that the battery used in Zhou Liwen's or smartphone has been separated from the battery of the original 2 mobile phones, and it is currently the best battery product regardless of its battery life and use time. And in the next few years, electric and hybrid vehicles will also start to heat up with the development of high-performance batteries, including the famous Tesla.

Zhou Liwen paid attention to the investment amount of these three companies, two of which are venture capital of 600,000 US dollars and 600,000 US dollars, as for the venture capital of high-performance batteries, it is larger, around 800,000-1.06 million US dollars, and the proportion of equity obtained is also good, although this money is a lot, but there is no pressure on Zhou Liwen.

What's more, even if all the investment is made, it will only add up to about $260,000. Even if the venture capital of two of these companies is lost, then there is still an Internet company that Zhou Liwen had heard of in his previous life. Just the proportion of shares obtained by this Internet company is enough to earn dozens or even hundreds of times its return in the next few years, which is already a huge success for an investment bank.

Seeing this, Zhou Liwen has recognized the venture capital of these three high-tech companies in his heart, and he also has a new understanding of Aaron's ability. However, he did not immediately tell Aaron what he agreed with, but quietly continued to flip down to the private equity investment side of traditional industries.

This private equity investment project is very simple, and Zhou Liwen can understand it at a cursory glance. It is a manufacturing-based company that seeks private equity investment in the company that intends to expand its production scale after a new successor takes over. Although this company is a traditional enterprise, the competitiveness of its products is not high, and their products are only relatively average among similar products. But after seeing the back, Zhou Liwen found a place, that is, the company has several patented technologies that have not been transformed, according to the display of the documents, these patented technologies belong to the company itself, but due to the lack of funds and business problems of the enterprise, it has not been formally transformed into products and processes, and the main goal of this private equity investment is also because of this reason.

Zhou Liwen doesn't know much about these technologies, but Aaron has already evaluated these patents with professionals before, and the results of the evaluation are somewhat unexpected, that is, the good and bad are half the same. From this point of view, this private investment is risky, which is why Aaron intends to step in. According to Aaron's document description, if everything is evaluated OK, it is impossible for the other party to hit a wall in private equity investment, and seek Zhou Liwen's investment bank. However, it cannot be denied that there is still a possibility of success in the transformation of these patents, and the return once successful. It can be seen that whether this project is OK or not must be recognized by Zhou Liwen.

The investment is relatively large compared to the previous three projects, about 660,000 US dollars, and the other party only pays 2% of the shares. However, Zhou Liwen carefully looked at the asset appraisal and different patent appraisal reports for this company attached to the back of the document, and after thinking about it, he decided to take a gamble, maybe the result would be good? Although $660,000 is a lot, once successful, its return is also amazing, and the traditional industry is different from the Internet company, its vitality is very long and strong, not to mention the patent monopoly products also have amazing profits, this bet should be worth it.

But Zhou Liwen was a little unimpressed with the 2% spoon shares, he calculated, at least 3% of the spoon shares, which he would discuss with Aaron, even if he had more money, he must reach this share, otherwise the 2% spoon shares are really embarrassing for the future success ratio.

Thinking of this, Zhou Liwen asked about the equity ratio of this company, including the bottom line of the other party. Seeing that Zhou Liwen showed interest in this company, Aaron was also very happy, and immediately told Zhou Liwen what he knew.

"Do you think it's possible to get a 3% share of this company?" Zhou Liwen asked bluntly.

"It's more difficult, and of course it's not completely impossible." Aaron already had detailed information about the situation of this company in his head, and he gave such an answer after a little thought.

"Oh, isn't this family going to maintain a controlling requirement for the business?" Zhou Liwen asked with his finger on the document.

Aaron nodded and told Zhou Liwen about the owner of the company, and Aaron knew very well why Zhou Liwen would ask for 3% of the share, because he had also made this request to the other party before, but was rejected by the other party. The successor of this business is a very stubborn middle-aged man, according to the understanding that those patents are studied by him, perhaps because he specializes in technology, this gentleman is somewhat lacking in the character of dealing with people, which is one of the reasons why there has been no suitable investment bank to invest in him.

"It's a bit tricky." Zhou Liwen thought for a while, and then said: "That's it, I don't think it's a big problem with this plan, but the key is the proportion of shares." If the other side can concede to 3], accept it, and if it insists on not changing, we will think of other ways. ”

"This is also what I am considering, maybe we can force the other side to make concessions with a request for non-dilutable shares, or a request for a preferential additional capital increase, and I think with some necessary means, no one will refuse our request." Aaron replied with a wicked smile, Zhou Liwen also laughed, people who are engaged in finance are not honest people, and it is impossible for honest people to eat this bowl of rice, let alone a leader in the industry like Aaron? In some cases, it is normal to use some means, business, isn't it all about you and me? Zhou Liwen understands these very well.

By the way, Zhou Liwen also told Aaron that he had no problems with the previous three high-tech projects and could handle them according to the plan. Seeing Aaron's eyebrows fluttering and nodding in agreement, Zhou Liwen continued to flip to the last project, and when he saw the content of the project, he couldn't help but sigh.

(There are things to do these days, so merge the big chapter, please support the other April 1 new book will be sent at the starting point, and the internal signing has been completed, when the time comes, please cheer more and ask for votes and recommendations Thank you)

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