The Millennium Semiconductor Survival Guide.

Chapter 308: Stepping into the pit and never coming back
President Chen is a core figure in Yanjing's circle, at least one level higher than Cao Yongluo's father.

Not to mention that Governor Chen is still active in the front line of finance and is a member of the Ministry of Finance. After he leaves, the level of the president of China Development Bank will drop by half a level.

Although Zhou Xin has a large amount of overseas capital and does not please these people at home, it will not affect his domestic career territory. After all, his base is not only in China.

But this does not prevent Zhou Xin from establishing a good relationship with them and preparing for the future.

Zhou Xin nodded: “The foundation of Internet finance is electronic payment. Regardless of whether the carrier of electronic payment is an Internet company or a bank, it needs to have enough electronic payment users so that Internet finance can fully demonstrate its advantages.

For most ordinary people, the biggest scenario for opening and using electronic payment is online shopping. If online shopping is developed enough, it means more users of electronic payment.

A sufficiently developed logistics system is a necessary condition for the development of online shopping.

Therefore, Internet finance is not just an isolated thing, but is inextricably linked to many fields.

At Amerikan, the reason why electronic payments have expanded so rapidly in the past two years is inseparable from the expansion of smartphones and the support for electronic payments in offline consumption scenarios.

Compared with Amerikan, it is still a bit too early for China to promote offline electronic payment. "

No matter how good a business model is, it still needs to consider the background of the times. The same business model will have different values ​​at different points in time.

Why was Quora able to sell for tens of billions of dollars in the web 1.0 era? Because at that time, everyone accessed the Internet through computers. Due to network bandwidth limitations, there were no video websites. Internet applications were mainly portals and various forums. Pictures The resolution is very low and not much to see.

Under such a premise, Quora, which has a large amount of high-quality text content, can sell at a high price. In 2005, even if the Nasdaq stock market was still in a bubble, Quora would not be able to sell at such a high price. Pushing back further, the value of such applications will only be lower.

In the same way, membership-based supermarkets like Hema are a good business model, and their gross profit margins are much higher than traditional supermarkets. However, China does not have such a large "middle class" population now, so Hema is launching It will only face huge losses as a face-saving project that loses face.

In the past two years, due to SARS, China has developed rapidly in e-shopping. However, this rapid development is still concentrated in first-tier cities. At best, it has spread to part of second-tier cities. In the current era of imperfect infrastructure, this development Very geographically restricted.

Xiaomi Electronics adopts the ultimate cost-effective model, but it still has to establish a sales system and offline stores in first- and second-tier cities. Because of logistics, if it is shipped from the headquarters, it cannot be supplied at all.

It is necessary to have outlets in first- and second-tier cities, and then distribute goods through these outlets. After distribution, the outlets will deliver goods to areas within their radiation range.

"I understand what you mean. Internet finance affects the whole country. It not only requires the cooperation of a country's financial strength and institutional mechanisms, but also requires the real economy to reach a certain stage before it can exert its power." said President Chen.

Zhou Xin replied: “That’s right.

However, this does not prevent domestic banks from taking the lead. According to my observation, the e-banking conducted by the domestic banking industry in the past was still concentrated offline, and offline stores provided automatic teller machines to users.

In fact, as the price of smartphones decreases and the penetration rate increases, it is more convenient to provide services to users directly on smartphones.

At present, the smartphone chip designed by Xinxin Technology has been developed and is currently undergoing internal testing. After passing the test, it will be widely promoted. The main focus of this upcoming smartphone chip is cost-effectiveness.

Xiaomi will launch a smartphone based on this chip, and we internally estimate that the price will reach 1500 yuan. "

By November 2004, Mphone11 was already on sale in China. With a price of up to 2 yuan, only a very small number of people could afford it. Even so, Mphone6000 still sold nearly 2 million units in China.

This quantity is astonishing considering the price, but what Chinese users currently need is not such high-priced consumer goods, but products with the ultimate cost-effectiveness.

Xiaomi is the product that can really help China quickly enter the mobile Internet era.

As a veteran of the banking industry for many years, the boss quickly grasped the key points after listening: "After I return to Yanjing, I will discuss with the people from the People's Bank of China to see how to promote it.

The speed of new chips is still fast. As far as I know, UMC is also developing similar mobile phone chips. It seems that your smartphone chips are still faster than UMC. "

UMC is MediaTek.

"United Microelectronics is watching behind us. If we fall behind a little, we will face the risk of being caught up by UMC. They have been afraid of the mobile phone chip market controlled by Xinxin for a long time.

Even according to my information, Cao Xingcheng contacted Yanjing through some connections and wanted Yanjing to put pressure on us to transfer technology to UMC. " Zhou Xin complained.

Obviously it's impossible. This requires an administrative order for Zhou Xin to agree. Even if the big boss in the front row speaks, he dares to push back, let alone a small role like the Taiwan Affairs Office.

The boss laughed and said: "Haha, this is indeed Wanwan's usual style. If you can't beat me, I want to ask your parents for comment."

This phenomenon will only become more serious with the development of all walks of life in China.

"It's a pity that they don't know what kind of person you are. For example, the vice chairman of Grace Semiconductor is his son. Xinxin did not look at Grace in a new light because of this relationship. Even the foundry share that Grace received from Xinxin Far inferior to SMIC and Huahong.”

After the boss said the last sentence, Zhou Xin realized what the other party was saying. To be honest, it wasn't that he didn't want to give face, but that Hongli was backed by Formosa Plastics Group and Samsung and didn't need any orders from him.

As for that person, after the Hanxin incident, he and the other party didn't deal with each other very well. The best way to describe their relationship is as strangers.

The financial summit Zhou Xin attended in China was, to put it bluntly, a familiar face. After returning home for such a long time, he had to participate in some official activities to show his presence.

This kind of occasion is too official. At the parallel meeting held in the afternoon, except for Zhou Xin, all the people working in China's financial field were practitioners. Zhou Xin could only say some relatively empty words. Empty does not mean that there is no content, but that there is no content. get substantial help.

After Zhou Xin returned to China, he gradually adapted to life here. His identity allowed him to refuse most activities that he did not want to participate in, and he was able to spend most of his time on research and company strategic analysis.

During Zhou Xin's time in China, Madoff Investment Company reached cooperation with Baidu and X.com. They moved very quickly and launched a financial product called Madoff in just two months.

Baidu has massive traffic and directly promotes Madoff and this person with all its firepower.

"Madoff? Judging from his resume, he is a big shot on Wall Street. Should we consider buying some of the financial products he launched? The annual rate of return can actually be 10 points, which is much higher than NewPay's Yu'E Bao." Paul, from Silicon Valley A real estate agent, with the strong recovery of Silicon Valley, his income has also increased.

Silicon Valley is undoubtedly where Zhou Xin's biggest base is, and the Internet products he launches must have the largest number of users and support in Silicon Valley.

Why Yu'ebao can sell so much? It's very important for people in Silicon Valley to have money.

Paul is talking to his wife, Bella, who is a product manager for an Internet company and also has only a vague idea of ​​finance: "Honestly, is there any risk in a 10% return?"

Bella picked up the milk on the table and walked to Paul: "Although its income looks much higher, after all, NewPay's credibility is here, and we will never have to worry about Newman going bankrupt or NewPay disappearing suddenly.

However, for the financial products launched by some unknown small companies, even if they find big names to support them, there is still a risk of losing money. "

Paul explained: “No, no, no, it’s not a small company, this is a financial product launched by Baidu.

As for the company that makes search engines, although they are incomparable to Newman, they are definitely not a small company that will go bankrupt at any time.

I think we could try to put some money into it.

Its introduction to Madoff here shows that even during the financial crisis in the past 20 years, Madoff still maintained 100% redemption and is a legend in the hedge fund industry. "

The 10% income is in front of you, and it is also guaranteed by the glorious past records of Baidu and Madoff, which makes it very attractive.

Evergrande launched Evergrande Financial Management around 2016, and the interest rate was also 10 points. Because Evergrande’s reputation was the guarantee behind it, there were not a few users who bought it, and even many employees within Evergrande bought it.

At this time, Madoff's status and resume in the financial industry were no less than that of Boss Xu. Even because he had been selling Madoff financial products in the past, his reliability seemed to be higher than Boss Xu.

Americans are very bitter when they talk about Wall Street, thinking that they swallow up a lot of profits and harvest the whole world with a sickle. The later Occupy Wall Street movement is a manifestation of this idea in the material world.

But when an opportunity arises for them to follow Wall Street and enjoy the ultra-high returns brought by Wall Street, it is difficult for anyone to resist the temptation.

Bella took the Mphone2 from Paul's hand, then glanced at it carefully and said, "It looks okay. Let's buy it for $[-] and give it a try."

Madoff's online financial products require real-name registration before they can be purchased. The upper limit for single-person purchases is US$100 million. There is also a time limit. The sale period is only one month, which means that after this month, you will not be able to buy it.

Although due to the nature of Madoff's scythe, there will be various reasons for releasing it later.

Paul whispered: "Maybe we can buy more. This product is only available for one month. If you miss it, you won't be able to buy it.

Quora says that Madoff is still very reputable, and before that, we didn’t even have a chance to enter Madoff’s investment company.

I think we have to seize this opportunity and buy it once, and it will continue to bring us income in the future.

Bella, haven’t we always said that we should increase the proportion of income other than salary?This is the best opportunity. "

Bella thought for a moment and said: "The maximum is 10 US dollars, no more. This amount has exceeded 30.00% of our family savings. If it is higher, if we have problems, it will be difficult for us to bear the risk."

People in America who don’t save are those at the bottom, but the middle and high-level people still save, and because the financial industry in America is particularly developed, they save in a variety of ways.

"Okay, $10 is a suitable figure." Paul said it was appropriate, but actually planned to put most of the money in. In his opinion, after they received the first income from Madoff, Bei La will understand him.

He even planned to call his parents to buy some too.

There are many people with similar ideas to Paul. With Baidu's massive advertising, the number of users of Baidu Pay has exploded.

In the past, advertising had no effect because Baidu Pay did not give users a reason to use it. Now, after the cooperation with Madoff, there is a reason.

That is, the only channels for selling Madoff's financial products are Baidu and X.com, and X.com's advertising is far less aggressive than Baidu's.

Because George could get a private "thank you" from Madoff, George spared no effort in promoting this matter.

At the same time, Larry Page had different views on cooperating with Madoff. As a Jew, after Baidu went public, Larry Page got into the top circle of Jews. In the circle, he heard about Madoff. Rumors, and not-so-good rumors at that.

It’s only natural for Silicon Valley’s top tycoons to criticize Wall Street’s old money men.

Of course, this also made Larry Page pay attention to Madoff, thinking that they should wait and not be so anxious to cooperate with Madoff.

The so-called enemy opposes, I will support, Robin has this idea, Larry Page is a thorn in Robin's side, and tried many ways to get rid of the existence but failed.

Larry Page objected, and George pushed hard. Robin naturally sided with George. Even because of Larry Page's opposition, Madoff received more publicity investment than George expected.

"Robin, according to data, the number of Baidu Pay users has successfully doubled in just one week, exceeding the 100 million mark. At the same time, Madoff's total sales of financial products exceeded the 20 billion US dollar mark."

This number takes into account Baidu Pay’s previous market share and number of users, and it has already exceeded the task.

Robin applauded in the office: "George, good job, Baidu Pay will use this time to make a turnaround, and we will attract NewPay users.

Now that the original accumulation of users has been completed, there is still a series of work to be done.

Regarding financial products, we can focus on it to see if there are any similar financial products on the market similar to those provided by Madoff Investment Company. "

(End of this chapter)