I’m in Hollywood Chapter 718: Speculation mentality
Remember [lnmao.org] in one second, fast update, no pop-up window, free to read!
Chapter 718 Speculation Mentality
Throughout May, both Eric and Chris were running for Firefly investment company to invest in telecom operator sprint.
The two sides have already determined the approximate trading plan in early May. Sprint invested Firefly in a directional increase in 400 million shares in exchange for a capital injection of 1320 million USD. After the transaction, sprint ’s total share capital was expanded to 4billion shares and Firefly investment holding The proportion is 10%, and two sprintBoard of Directors seats are obtained. As long as the transaction is successful, sprint will also adopt Qualcomm's CDMA technology under the impetus of Firefly investment.
However, after the two parties drafted the transaction plan, things are far from over. Although the legal threshold of the communications industry is gradually being relaxed, as an industry that will be strictly controlled by any country, if you want to enter smoothly, you need to pass layers of review .
Firefly and sprint first need to submit the plan to United States Federal Trade Commission (ftc) for antitrust review. Firefly investment not only owns Qualcomm, which is related to the research and development of the underlying technology of mobile communication, but also controls Nokia, which produces mobile communication base stations and terminal equipment. If it successfully participates in sprint, it basically opens up a whole mobile communication industry chain and is suspected of monopolization. very obvious.
If it was ten years ago, this transaction plan will be rejected by ftc immediately after it was submitted, but in recent years, Federal Government has continued to relax the legal restrictions of the telecommunications industry, which makes the transaction plan possible.
After Eric and Chris personally attended ftc ’s hearing on the transaction several times in a row and mobilized public relations lobbying in private, ftc finally approved the transaction between the two parties at the end of May.
While coping with ftc, Firefly investment and sprint also submitted relevant applications to the Federal Exchange Commission (SEC) and Federal Communications Commission (FCC). After the level of ftc with the largest variable is passed, the remaining two departments are much simpler. Almost within one week after FTC approved the transaction plan, SEC and FCC successively approved the transaction applications of both parties.
On May 26, the signing ceremony of Firefly investment and sprint was officially held at Manhattansprint Group Headquarters.
In the press conference after the signing ceremony, Firefly investment and sprint senior officials officially announced to the outside world that sprint will cooperate in depth with Qualcomm and use CDMA technology to build a national mobile communication network.
A month ago. After receiving Firefly investment in 300 million USD directed bond financing, Verizon has announced that it will join the CDMA camp. At this time, sprint Group, which has nearly half of the a and b mobile communication licenses, once again announced its participation, marking that the dispute over United States mobile communication technology standards has finally settled in the past few years. CDMA technology not only got rid of the fate that may be completely abandoned, but also Successfully occupied more than half of the United States mobile communications market.
As soon as the press conference ended, the stock price of Qualcomm on the open market began to rise linearly. Before the close of the day, the stock price soared 8% within a few hours. The price per share easily broke the 30USD mark and reached 31.5USD. Compared to the stock price of 17USD at the end of last year, the market value of Qualcomm has risen by 85% in just half a year. It is only a matter of time before it doubles.
"The last time I went to San Diego, Qualcomm The communication equipment manufacturing plant has just begun to choose a site, and it is also at least the end of the year to want to put into mass production. Although sprint promised to adopt CDMA Technology, but it is impossible to wait for half a year. They decided to temporarily Washington Area laying GSM The internet. In addition, Qualcomm Originally planned to Sony I cooperated to build a factory, and the plan was rejected by me. Even if I want to cooperate, the target should definitely be Nokia , This too Nokia enter United States Good time for the market. Qualcomm In 1991 we held Nokia Before, Nokia Authorized a full set CDMA technology, Nokia Although focusing on GSM R & D, but there is still some foundation in this regard, they can also Qualcomm The equipment manufacturing plant provides a group of professional management personnel. . "
The time is the next day. It happened to be Saturday, and a busy day yesterday, most things finally came to an end, Chris came to Eath Hampton with Emily.
However, the two soon got into the Eric study room to discuss business matters. Of course, the topic still started from Qualcomm. Chris is very clear. Eric's recent series of layouts is mainly for Qualcomm.
Eric leaned on the back of the chair and listened to Chris, saying, "When it comes to GSM and CDMA, I was thinking that there is no way for both parties to drive either party out of the market in a short time, so, The fusion of these two technologies is the most correct path. Just like this DVD format dispute, the two major DVD technical standards camps are very smart, and there is no waste of ten or eight years on r + and r- to win. Negative, but chose to support each other. "
DVD has been developing standards for some years, but out of concerns about the lower cost of DVD piracy, several major movies of Hollywood, Film Studio, have been trying to delay the launch of DVD.
But it is impossible to procrastinate until now. With the lessons learned from the Sony videotape lawsuit, Hollywood can no longer hope to stop the emergence of DVD through lawsuits. It is expected that several major DVD manufacturers will launch after the summer file DVD player.
Chris also knows a little bit about this information, and heard: "The standards mastered by the two DVD technology camps are actually of the same generation, and it is not difficult to support each other, but GSM and CDMA are completely different from the two generations. The technical standard is over, it is basically impossible to integrate. "
Eric said: "I ’m not talking about operator-level integration, but terminal integration. Nokia has GSM technology and Qualcomm has CDMA technology. Both parties have very deep technology accumulation in these two standards, so , We are going to launch a mobile phone that can support both GSM network and CDMA network at the same time, it is certainly not difficult. "
Double Netcom and Full Netcom mobile phones that support multiple network formats are very common in later generations. However, in 1995, a new generation of digital communication technology was just popularized on a large scale. Several major technology camps were thinking about how to push each other out of the market. Coexistence and even integration were not considered at all. Therefore, multi-network communication mobile phones are definitely a very new concept. .
Chris's gaze suddenly brightened. Tao: "Eric, this idea is really awesome. I think it would be better for us to hold a conference call tomorrow to discuss this matter with Jorma? Ollila and Irwin Jacobs, while supporting GSM and CDMA network mobile phones. There must not be much in Europe Market, but North America has determined the coexistence of GSM and CDMA, this mobile phone is definitely promising. "
"You come to arrange," The Lost World: Jurassic Park "will be released on June 2nd, I may still be able to stay in New York for a week," Eric replied. He also intends to talk to Nokia's CEO Jorma? Ollila in detail recently .
Nokia is the first communication equipment manufacturer to bet on GSM technology, which is also the key to its rapid rise in recent years, although there is no complete monopoly of CDMA technology patents like Qualcomm. However, the number of Nokia patents in GSM technology is also the largest among global's major communication equipment manufacturers.
A few months ago, after the news of Firefly ’s investment in Qualcomm came out, Jorma? Ollila had doubts about Eric in emails. In his view, the CDMA technology that blocks Qualcomm is more in the interest of Nokia . Now, instead of doing so, Eric strongly supports the CDMA technology and grabs half of the mobile communication market of United States. Even if the surface reaction is not intense, Jorma? Ollila. There will be pimples in my heart.
Although in telephone and email, Eric has explained to him his intention to do so. But more communication is definitely beneficial.
Only by maintaining sufficient communication and understanding their respective intents, can Eric rest assured that the properties under his name will be handed over to the Manager people to take care of, and he will be able to spare more time to do other things.
Chris habitually took out a small memo from the shirt pocket and wrote down this matter solemnly before saying to Eric: "This matter is resolved. I think we should talk about Yahoo Now. "
"I have been communicating with Ian and them recently, and I understand their general idea," Eric nodded and said.
The original equity incentive contract expired this year, and the Firefly investment team has begun to evaluate the work of Yahoo ’s main management. In order to determine the share of equity awards they can obtain.
The initial plan of Eric is to start the IPO plan of Yahoo after the end of the equity incentive plan.
But recently, several senior executives have unanimously hoped that Eric can postpone the launch date of Yahoo. Their reasons are also quite sufficient. The capital market is extremely profit-seeking. Once the Yahoo is listed, the company will have to face performance pressure and abandon the current stable development strategy.
After repeated lobbying by Yahoo management, Eric also began to carefully consider this issue.
A few years ago, the original idea of Eric was to list Yahoo in 1995, and when the Internet bubble rapid expansion, his Yahoo stock also passed the lock-up period, he could take advantage of the Yahoo stock price false high opportunity A large sum of money.
In the final analysis, Eric's original plan still had a very obvious speculative mentality, subconsciously only thinking of cashing out the market, rather than operating Yahoo well.
After years of mentality precipitation, Eric also realized that if he has maintained this mentality, his career will definitely have a bottleneck in the future.
Chris saw Eric revealing a thinking look and asked, "So, Eric, what do you think now?"
"How about you, do you agree with their ideas?" Eric smiled and asked rhetorically.
Chris nodded unabashedly: "Now the capital market is very popular with Internet investment, so I think we have delayed listing for a few years. When Yahoo has a clearer profit prospect, we will definitely be able to obtain greater profits."
Eric recalled that in time and space, the Nasdaq market started exponentially in 1998, and it has soared from more than 1,000 points to the 5,000 mark in just two years.
If the Yahoo is listed after 1998, the funds raised from the initial issuance of shares will definitely be several times higher than it is now. However, under strict financial supervision system, the funds will be used for the development of Yahoo itself, which is not complete Belonging to Eric individuals, although some funds can also be transferred out through some methods, there is a very high risk, and it is certainly safer not to take off the shares in your own hands.
Cash out, cash out, cash out ...
Eric repeated the word in his mind for several years, and suddenly realized that he is not short of money at all now. No matter how much money is cashed out, do n’t you still want to use it for investment?
The bend in my head was suddenly straightened, and Eric also had a sudden and cheerful feeling, smiling at the corner of his mouth, and said to Chris: "Then let ’s postpone the IPO plan, but in any case, we should rush Complete IPO before the contract with Microsoft becomes effective. "
"This is of course," Chris also laughed relaxedly. If Eric insisted, he really did not know how to persuade: "Speaking of it, Windows 95 of Microsoft will be officially released in August, but, I think you should already use this system. The stock price of Microsoft has been rising recently. The market seems very optimistic about this new system? "
Although the Windows 95 of Microsoft is determined to be released at the end of August, in fact, many test versions have already flowed out. Outside United States, pirated discs have been widely popularized.
Eric also used this previous life very familiar operating system for granted, saying: "I think this system may let Microsoft monopolize the operating system market, so in the next few years, we will probably have to work with Microsoft. On a tit-for-tat basis, Microsoft has completed its dominance in the operating system market, and will definitely march into the Internet market. I am not even sure that Bill Gates will forcefully tear up that agreement. After all, Microsoft may not be willing to wait until 1999. /
"I feel that Microsoft is already restless now," Chris smiled and said: "Steve called me a few days ago and said he was contacted by Microsoft, hoping he could leave Yahoo and join Microsoft is about to establish an Internet department. "
The Steve said by Chris is the Steve? Mitnick responsible for the Yahoo technical department, and good friends during Chris. In Eric's view, the main managers of Yahoo, Ian Gunier, Jeff? Locke, Steve? Mitnick and Tina? Brown, of the four, Steve? Mitnick is the most important for Yahoo, because he is almost responsible for Yahoo The core technology research and development of major Internet products, if he is poached, Yahoo will definitely be turbulent for a long time.
Eric surprised: "Really?"
Chris nodded and saw a worried look on Eric ’s face, laughing: “However, you do n’t have to worry, I know the character of Steve very well. Since he called me, it means that he will definitely not leave Yahoo Of. "
Of course, Eric cannot be so completely relieved, and asks: "What about other people?" (Unfinished.)