Chapter Eighty-Four: Irrational Discounting
"Haha, it's not one person, it's two people; One of them is Hank (Hank) is a Chinese-American, his grandparents went to the United States, their family is the largest shareholder of the company founded by his grandfather, his father has nearly half of the wealth of their family, and left the wealth to him after his death, he sold the company's shares to other family members, and then invested everywhere, and now he is a very famous angel investor in the United States; He has invested in many of the current super bull companies in the early days;
The other is his friend's name is Paul, Native American, Hank's friend, I heard that his father was a Wall Street tycoon in the 70s, he started a number of companies in his field before he was 30 years old, and now he is full-time investing, I heard that he still knows Buffett"
"I'm rubbing, it sounds so awesome, how much can they vote for so much fun?"
"They have learned about our company, and when they started to talk to me, they thought that the marketing network and channels were our biggest advantage, so that our company could develop so fast, I told them that we have a stable source of lots, and told them that our maximum income does not come from earning the commission of the auctioneer, but mainly from the income obtained from the direct auction of our own lots, they were shocked to hear it, but they also wondered how we have this source?"
"And what did you tell them? They didn't suspect anything, did they? ”
"They also know that our company is an offshore company, and part of the business is in the mainland, and part of the bronze business prohibited by the mainland is abroad; They didn't think anything about this, they were just worried that if the company didn't have a stable source of lots after the shareholding, their investment would be wasted."
"Ya foreigner and the second devil are still very smart, you can see the crux of the problem at once"
"It's strange that people invest so much money and don't ask clearly, big brother. Pen? Interesting? Pavilion wWw. biquge。 info。。 ”
"That's right, so what do they mean?"
"After they buy shares, they will send a 10-person appraisal team to enter the company, and then every time the company has a new source of goods, it must be inspected and registered by the appraisal team before the company's money can be withdrawn from the account, or a large amount of money can be withdrawn with the consent of all shareholders of the board of directors."
"It's clever enough, and the tricks make them think about it, so we don't like thieves."
"There's no way, they can't give us all the initiative, but I also understand that they are doing this to prevent the company from becoming a shell company when there is no enough value for the goods."
"Okay, if they invest more, they can agree, how much can they invest in a long time?"
"They said that considering that the company's cash flow is good, but the growth type is poor, the industry has a bottleneck, and now it has basically achieved a very large industry level, and it is difficult to make a qualitative leap, so they refuse to take a small number of shares; They proposed that the two of them form a partnership to create a company with a $200 million investment in the company's name, or 49 percent of the shares."
"They're too picky, right, only $200 million to account for 49%?"
"Hehe, it's not finished yet, this is already a lot, don't forget, after they invest, our supply is equivalent to the company to buy at a price lower than the market price before entering the auction company, and the real profit of the auction company is equivalent to the commission of the general lot, plus the difference between the supply of its own channels; Your boss Liu's account is the way we used to play with our brothers, how much you sell and how much you earn."
"Oh, yes, yes, I miscalculated, it seems to be the case, but only 200 million US dollars is really not enough for me to build, I have a hunch that I don't know if there will be a big war on my side in a few months or a year or two, and then the place where the money will be used will be the sea, I have to prepare to come out first, otherwise the war will start at that time, if there is a slight disadvantage, the bank will face a run on the hive, and my side may collapse before the war is over."
Liu Xuan sweated for a while, and said in his heart that this Liu Braid really dared to play, went back to ancient times to open a bank, and actually spent most of the money saved by others, it is really a master of art and bold, it is better to issue paper money directly;
In fact, don't say that Liu Braid really wanted to issue banknotes at the beginning, but he thought about it for a while, it seems that in the ancient Chinese dynasties all the way to the Republic of China paper money is not easy to use, because it is difficult for the government to control the kind of indiscriminate printing of money, using inflationary methods to grab money from the people's desire, you must know that the banknotes issued by the ****** government of the Republic of China at that time rose 3,000 times during the Anti-Japanese War, and the price of paper money issued by the government of the Republic of China rose by 3,000 times during the Anti-Japanese War, and it only rose by 10% in Germany in World War II; The UK is up less than 30%; In ancient China, the Tang, Song, Yuan, and Ming dynasties did not use paper money, and once they began to use, prices rose to the point of collapse in a few years, and immediately stopped, this is a dark logic, it is difficult to say that you can control it well, just like drug abuse, many drug addicts feel that others have poor self-control before taking drugs, and they can, the fact is that you are numb when you stomp, and whoever drinks too much will vomit; Liu Braided thought about it, and it was definitely not possible to go to his own small separatist force to fish like this, so Liu Braided controlled the impulse to issue paper money instead of a ticket, which is actually a 1:1 currency exchange coupon, just for the convenience of carrying, in fact, it is the same as the money bank; Because Liu Braid believes in his future profitability, he spends most of the money in the bank (money bank), because he believes that he can make up for it, which is also dangerous, but it is better than issuing a lot of banknotes; (If you want to ask why no one else issued banknotes in the Han Dynasty, it is because the cost of paper making in the Han Dynasty was very high, and it was not cost-effective)
Liu Xuan said: "Actually, I also talked to them about another plan, which is to promise them that in the future, all the bronzes in the overseas business can be evaluated by a common appraiser of the two parties, and the company's current acquisition will be auctioned at about half of the market price, and the profits will be given to them, if so, they promise to increase the capital contribution to 700 million US dollars."
Liu Braid feels painful when he thinks about it, 700 million US dollars, he needs it too much now, with this money can not only fill the hole in the bank, but also do a lot of things that he wanted to do before and didn't have the money to do, but the disadvantages are also obvious, so that the income will be reduced in the future, but Liu Braid weighed it and felt that this money is more important to him now, so he still chose to agree.
"I agree, you go and inform them"
People always have a desire to take money to spend in their hands first, this is human nature, many people would rather have less money at the moment and give up greater returns in the future, which is also jokingly called irrational discounting by many economists.