"I want to join, but I don't want to choose the former, and I don't want to choose the latter."

Teresa Roy answered Wen Ming's question, but was not satisfied with Wen Ming's conditions and demands.

Because according to the valuation of $150 billion, the investment of $2.4 billion can only get 1.6% of the shares.

For any investor, this business is not a good deal.

The purpose of investors' investment before the company is listed is to wait until the company is listed and cash out to obtain sufficient profits. Of course, there are also because of the company's strong profitability, so it chooses to hold the company's shares for a long time and can get dividends every year.

Therefore, when a company is not listed, it is difficult to exceed $100 billion in valuation, not because there is no such company, but because after the valuation reaches the level of $100 billion, it is difficult to guarantee the cash profit after listing.

Because of the impact of the 2008 financial crisis, the company with the highest market value in the IT industry at this time was still Microsoft's $300 billion, ranking third in the world in terms of market capitalization.

However, IBM, the second place in the IT industry, has a market capitalization of only $171.9 billion, ranking 17th in the world.

Can Apple, which has only one iPhone, surpass IBM, an industry leader, in terms of market value after listing?

Even if it can be exceeded, how much more?

At a valuation of 150 billion, even if the market value reaches Microsoft's $300 billion level after listing, it is only doubled, and for investors, the benefit of doubling is completely unacceptable to them, because the growth of market value takes time.

"Your previous valuation offer for me was $100 billion."

Teresa Roy's expression was very calm, you come and go in business negotiations, this is normal, it is impossible to flip the table without saying a word.

Wen Ming said with a smile: "The offer of 100 billion US dollars is because the iPhone has not yet created 30 million sales a year, if it can create this achievement, then, I think it is worth 150 billion US dollars." ”

Regarding Apple's shares, Wen Ming doesn't want to give them to anyone else at all, because if Apple can develop smoothly, the shares are too valuable. Moreover, the increase in the number of shareholders will affect Wenming's control over Apple.

"The most important thing is that if we can make a profit that meets our expectations in a year, which is close to $6 billion, then 1.6% of the shares will receive a dividend of $100 million."

When it comes to Apple's future, Wen Ming has a lot of confidence.

"The bottom line is that it's just the pure profit that the iPhone can generate, you know, I'm a restless person, and I want to launch other products besides the software market."

Iphone is just the first product copied by Wenming in this world, there will be ipad, Macbook and other products in the future, according to the extremely similar development degree of the two worlds, if the iphone can be successful, then, Apple's other products can also be successful.

Teresa Roy squinted her eyes slightly, looked at Wen Ming and said, "You can say this, it proves that you already have an idea for a new product, can you tell me the general direction?" ”

Wen Ming did not hide it, and replied directly: "In my opinion, the iPhone has redefined the smartphone, so Apple's next plan is to make the personal computer a comprehensive upgrade." ”

Theresa Roy fell silent, a genius who was able to independently develop such an excellent product as the iPhone in a few months, what kind of miracle could he create if he began to concentrate on computer products?

As Wen Ming said before, Apple's current valuation is not based on the technology and products owned by Apple, but on the brain of Wen Ming's genius.

In the middle of the ring, Teresa Roy said, "If you don't have cancer, then I can agree to your conditions now." ”

In other words, who can guarantee that you will survive to the top of Apple's life?

Wen Ming's face was expressionless for an instant, although he had already undergone a treatment operation, the operation was also very successful. However, he had pancreatic cancer, a cancer among cancers, and after five years at most, it was God's favor to live one more day.

It stands to reason that a person in a position like Teresa Roy should not directly expose Wen Ming's shortcomings, and they are the ones that make Wen Ming sad.

But during today's negotiation, Teresa Roy has always been led by Wen Ming's nose, and the rhythm has always been in Wen Ming's hands. If Teresa Roy doesn't disrupt Wen Ming's rhythm, then he will soon be persuaded by Wen Ming.

Invest $2.4 billion to get a 1.6% stake?

If the other party is not the current Microsoft, then Teresa Roy will definitely become a joke in the whole of Silicon Valley, and even in the eyes of investors around the world.

"Yes, no one can guarantee that my cancer won't come back."

Wen Ming took a deep breath and said, "But it is precisely because of this threat that I can constantly compress my time and create products that even I find incredible." ”

"Mr. Teresa Roy!"

Wen Ming's voice became emotional, and he said, "You said that if you don't gamble again, then you won't have a chance to gamble." I think I, like you, even lack opportunities. ”

Teresa Roy rubbed her forehead and was silent again for a while before she said, "I hope to make this decision in two years, that is, I won't ask for your $300 million in interest, but I need your commitment." ”

Teresa Roy still didn't have the courage to make such an 'idiotic' investment after all, but he was attracted by the launch of a new product that Wen Ming said. In his opinion, Wenming's time does not allow him to launch a new product other than the iPhone a year later.

Therefore, he hopes to see the market response of the new product and its profitability before deciding whether to agree with Apple's $150 billion offer.

Wen Ming sighed in his heart, Teresa Roy's request really caught him, because in his plan, the research and development of the iPad could already be put on the agenda.

The IOS system is common to iPhone and iPad, that is to say, Wenming only needs to make the hardware parameters required by the iPad, and can directly place orders for production. Most importantly, some parts of the iPad and iPhone are common.

For example, the core processor, gyroscope and other components.

In other words, it will only take a maximum of a month for Wen Ming to be able to start producing the iPad, provided that he has enough funds.

Speaking of funding, he desperately needs Teresa Roy to help him solve the order of 8 million iPhones.

And Teresa Roy does not want interest, and is not willing to invest in Apple within a year, it seems that he helped Wenming solve the problem of the shipment of the first batch of iPhones for free, but it should be noted that if the iPhone does not meet the expected sales, then all the rights and interests of the iPhone will be owned by Teresa Roy.

Therefore, this bet is extremely unfair to Wen Ming.

What worries Wen Ming even more is that if Facebook's valuation increases after a year, even if Wen Ming's 2.1% of Facebook shares are worth less than $2.4 billion, Teresa Roy has a reason to use some means to make iPhone sales unable to break through to 30 million units.

Shopping malls are like battlefields, and if you are not careful, you will be crushed.

"If you need two years, then the only bet I have on is my stake in Facebook."

Wen Ming's Facebook shares are now only worth $500 million, and Teresa Roy needs to pay so much to guarantee an order for 8 million iPhones. Of course, if Wen Ming used $500 million as a guarantee, no one would be willing to help him produce 8 million iPhones.

Teresa Roy laughed, didn't explain Wen Ming's worries, but said directly: "What about your promise?" ”

Wen Ming laughed and said: "Within two years, you can invest in Apple at any time, and the valuation is always limited to $150 billion, and you can buy as many Apple shares as you have." ”

Teresa Roy smiled and asked, "How much money do I have?" ”

Wen Ming confirmed: "Yes, you, how much money do you have!" ”