The Millennium Semiconductor Survival Guide.

Chapter 54 Principles of Investing

Zhou Xin received replies from Robin and Larry Page almost at the same time, and both parties expressed their willingness to accept his investment.

This makes Zhou Xin both happy and worried, because whether it is Google or Baidu, they are definitely the best batch of unicorn companies.

Investing in this type of enterprise, the return on investment can be [-] to [-] times easily.

What worries me is that I don’t have enough money. I got 2000 million U.S. dollars from Bill Gates before, but actually transferred another 8000 million U.S. dollars to Riot Games, which is equivalent to only [-] million in cash in my hand.

Fortunately, Angry Birds is still generating income for him, but that income must first be shared with Ashley and Stephen.

Secondly, in the later stage, free download links are flooding large and small websites, and only a small number of users are willing to pay for it.

This part of the income has hardly increased.

Including the income from Angry Birds, Zhou Xin only had less than US$9000 million in cash at this time, and injected 2000 million into NewPay.

In addition, Zhou Xin also established a company in Silicon Valley that focuses on social media, and invested 2000 million there.

After discussing with Hu Zhengming, the semiconductor manufacturing industry is even more expensive.

In fact, after calculating it, investing in Google and Baidu again means that the funds in hand are quite stretched.

After thinking about it, he still has to launch the fist game as soon as possible, so that the cash flow in his hand can be more abundant.

When Google and Baidu raise funds later, he will be able to follow suit.

Zhou Xin planned to follow up for one or two rounds, but he didn't think it was necessary.

"Shiqiang, both Google and Robin are willing to accept my investment, which one do you think is better?
I believe that you have collected a lot of information about them these days. "

Zhou Xin called Wu Shiqiang over after receiving the reply.

Wu Shiqiang hasn't returned to China yet, because he needs a desensitization period after resigning from the bank, let alone his overseas branch, the desensitization period starts at three months.

However, Wu Shiqiang did not disclose his whereabouts to other colleagues except talking to the branch president.

Because there is no need, the opportunity is rare.

Zhou Xin's personal phone number may be available to other colleagues in their branch, so he will recommend himself when the time comes.Wu Shiqiang doesn't think he has any irreplaceable advantages.

"Purely from the product point of view, Google's search experience is indeed better than Yahoo.

I also agree with your point of view, that is, with the growth of Internet content, compared with Google and Yahoo, Google's advantage will become more and more obvious.

I see no problem investing in Google.

As long as the valuation is under $1000 million, you can invest as much as you can.

As for Robin, I don't know much about it. I have asked some of my friends in the past two days, but they don't know much about Robin. "Wu Shiqiang said.

It is normal for those who are in finance to have never heard of those who are engaged in technology.

Even if you are engaged in technology, you have to work in the segmented field of search engines to know about Robin.

Wu Shiqiang knows that it is a rare opportunity to learn from the boss, especially in the field of investment which is very unfamiliar to him.

There is little overlap between the worlds of banking and investing.

There is a big gap between the macro information obtained from the financial media and the actual business.

Wu Shiqiang has a better understanding of this. Google's product experience is better than Yahoo's. Can you realize it without real contact?
From the excellent user experience of Google's products to investing in Google, there are still deep barriers to break through.

Therefore, the logic of investors is fundamentally different from that of ordinary people.

Wu Shiqiang continued: "Just talking about Google, after doing business with you this time, I realized that there is absolutely no shortage of good products like Google in the market.

Investors just need to dig out the gold hidden under the soil.

I have come to understand that the first principles of investing are independent thinking and peace of mind.

It is always believed that there are giants ahead, so there are no investment opportunities in this field. This is a completely wrong concept.

In an expanding market, if there are giants in front and companies behind have comparative advantages, this is an opportunity instead. "

This is also an important reason for the rise of Taobao and JD.com in later generations, Pinduoduo and Douyin shopping.

They found new growth in a mature market.

Zhou Xin was quite noncommittal, because Wu Shiqiang had just gone from the first floor to the second floor, and he was already on the fifth floor: "Shiqiang, you just said something very well.

That is independent thinking.

But the depth of your thinking is not enough, you need to think further.

Google's products are better than Yahoo's. Anyone who has used it knows this. The product has advantages. Why is Google not well-known in Silicon Valley or Wall Street?
Because they only have a search engine that is better than Yahoo, and Yahoo is not just a search engine.

Yahoo integrates a series of services such as portal website, Yahoo News, Yahoo mailbox, etc., and the search engine is only one of its modules.

Even though Google has an advantage in user experience in search engines, people will still choose Yahoo because they can enjoy more services through Yahoo.

As for the increasing amount of Internet content, I can use Google as a tool and continue to use Yahoo as an Internet service provider.

Do you think tools are more valuable or Internet service providers are more valuable?

As a tool, Google can only charge by advertising. If it wants to charge by the number of searches, will users buy it?

Are people staying longer with tools, or with Internet services?
The longer you stay, the more valuable your ad will be. "

Originally thinking that he had thought clearly enough, Wu Shiqiang fell into confusion again, but he quickly thought of it: "But Google is also valuable.

Investing is not about investing in a company that is better than Yahoo.

Rather, it is about buying a business when its price is lower than it is worth and selling it when it is priced higher than it is worth. "

"This is also the principle of investment, yes, I just said so much to confuse you.

In fact, Google is still a more valuable business than Yahoo, and you can think about why. "Zhou Xin smiled.

Zhou Xin does not shy away from cultivating Wu Shiqiang, after all, Wu Shiqiang will do things for him in the future.

As for cultivating Wu Shiqiang into an investor with far greater vision than the current one, this is also a good thing. Huaguo also lacks visionary investors now.

Money can never be earned alone.

"Okay, you go talk to Google and talk to Robin at the same time.

You also know my bottom line before, Google's valuation should not exceed 1500 million US dollars at most, the more shares the better, at least [-]%.

As for Robin, to give him a valuation of $500 million, we want 30.00% of the shares.

Tell Robin that $150 million is enough for Robin to hire a few programmers to make the product. After the product comes out, I will help him contact the second round of investment.

The second round of investment started with a valuation of US$1000 million.

We need to have follow-up priority investment rights for both investments. "

(End of this chapter)