The Millennium Semiconductor Survival Guide.

Chapter 305 Partner
Peter Thiel felt relieved after hearing Zhou Xin's statement, "That's good, I will reject Bernard when I go back.

He may be okay, he may indeed be a good person, but we can't take the risk.

We are a defender in the field of electronic payment, not a chaser. Our market share, number of payments, user activity, transaction amount, etc., these data are much larger than those of other electronic payment companies combined multiplied by two. .

So we just need to do our own thing. "

Seeing that Madoff couldn't fool Peter Thiel, Zhou Xin felt a little disappointed: You can't do it. You can't seize the opportunity I gave you.

"If the return rate exceeds 6%, there will be a question mark. If the return rate exceeds 8%, it will be very dangerous. If the return rate exceeds 10%, you will be prepared to lose all your principal."

This is a summary of the discussion after experiencing several financial crises and various financial frauds. At present, because of Buffett's dazzling record, Madoff's financial product returns are not so exaggerated.

The reason why he is unanimously suspected by Peter Thiel, Bill Gates and others is because his underlying assets are not transparent enough, and the outside world has no idea what specific operations he has done.

In an interview, Madoff said that he hedged stocks and indexes to achieve stable and high returns, but when it came to specific hedging operations, Madoff avoided discussing them on the grounds of commercial confidentiality.

High returns are not the point of suspicion, high opacity is the point of suspicion.

Zhou Xin thought that since Peter was here, he came up with the idea of ​​Huabei: "NewPay is the software with the highest proportion of online payments. You just said that all our competitors combined are not enough for us.

NewPay's advantage is not only online payment, but also takes the lead in offline electronic payment.

Can we provide credit card-like services to our customers?
It's equivalent to grabbing VISA's job. "

Because Amerikan has a very strong credit card system, it is impossible for Ameliken to have a business like Huabei on the scale of Huaguo. It is at best a supplement to the business.

Peter Thiel said: “I think we can try, because individual customers are very difficult to manage, so we need to build a strong risk control system.

It is equivalent to another big step forward for us as a financial institution.

But because NewPay’s user base is here, I’m not worried about being able to make a profit. "

Amerikan is not responsible for personal credit reporting like an official agency like the Chinese People's Bank of China. Their credit reporting system is more complete and the data is more dispersed. There are three large agencies for personal credit reporting alone, plus zero or zero. There are even more scattered ones.

The essence of Huabei is a personal loan business, which requires a lot of big data analysis and the construction of a powerful technology middle platform.

Previously, NewPay's business focus was on information security and application construction. When Zhou Xin talked to Peter this time, he also had the intention of transformation.

“NewPay refused, and Peter Thiel was very insistent that he didn’t want to cooperate with us.

I also inquired and found out that since Newman returned to China, he has indeed not interfered with NewPay’s operations for a long time. Warren Johnson, as his plenipotentiary representative, has been silent recently.

Peter Thiel has been the CEO of NewPay since its establishment. It is unrealistic to replace him or to mobilize the board of directors to push for such a small matter.

We need to consider new partners. "Peter said. This Peter is Madoff's younger brother, Peter Madoff, and one of the core participants in his Ponzi scheme.

Madoff felt a little headache, because changing partners would have a great impact on them. Switching to other electronic payment platforms would have limited effect. Cooperating with channels such as banks would be a waste of money for him. Shop sign. ,

While Madoff was smoking a cigar, Peter said: "The good news is that X.com heard that we are discussing cooperation with NewPay.

So someone over there came over and asked, can we cooperate with X.com?
In addition to X.com, there are several other electronic payment institutions looking for us. "

Madoff said: "Let's think about it again. We can't rush this matter. We are the only one on the market that can stably provide a rate of return of more than 10%. We don't need to be so anxious."

Unfortunately, because of the fraud investigation led by OCIE, Madoff faced a wave of runs. If he does not find money to maintain the liquidity of this Ponzi scheme, he will face the risk of runs.

OCIE is the compliance inspection office under the Amerikan Securities and Exchange Commission. The insistence of OCIE's lawyer Lightfoot led to this investigation. This investigation also shook the confidence of Madoff supporters, and a small-scale run occurred.

It is now the end of 2004, and Madoff's financial products pay dividends in February every year, which means that the day of dividends is not far away.

Considering that it will take time for Madoff's financial products to be sold on X.com, he must make a decision now. Otherwise, when the dividend is distributed in February, not only will he go bankrupt, but the Ponzi scheme will also be exposed.

"You seem to be in a good mood." Musk said when he saw Schulman, who had been troubled by Yu'e Bao, in high spirits.

Schulman laughed: “Because I found an opportunity to catch up with NewPay.

Madoff, Bernard Madoff agreed to work with us and their products would be sold on X.com. "

Considering that Musk, who has been active in Silicon Valley all year round, may not know Madoff, Schulman introduced Madoff's brilliant record and the profits of Madoff's financial products in detail.

Musk raised his eyebrows and said, "It sounds very good. If I were a user, I would be attracted.

But I have a question, why don’t they approach NewPay instead of us if they want to cooperate?

With such a good product and such a famous person, when they are looking for partners, they should know a lot about the electronic payment field. NewPay has much more users than we do. "

Schulman explained: "Because NewPay said no, they came to us, and we were the No. [-] company, weren't we?"

"Well, I feel like something's wrong, though," Musk said.

Schulman hid part of the information. He knew why NewPay refused because there might be something wrong with Madoff.

Schulman also suspected that there was a problem with Madoff and his products, but due to his past brilliant record, Schulman did not think that Madoff's problems would break out in a short time.

To be precise, Schulman only needed that Madoff's financial products did not explode during his tenure as CEO of X.com. When he left X.com with a brilliant record of chasing NewPay and went to serve as an executive in other companies, Madoff Let the thunder explode as much as you want.

(End of this chapter)