The Millennium Semiconductor Survival Guide.

Chapter 83 Confiniti's Press Conference
Purely in terms of ability, Jimmy Wells and Larry Sanger can satisfy Zhou Xin the most.

Regarding the setting of the user threshold, Zhou Xin just put forward an idea, and they were able to give a specific implementation plan, and he couldn't find too many faults in terms of the feasibility and completeness of the plan.

The user registers for the exam, and after passing the exam, he only has the right to answer questions under this topic.

For example, if Rex passes the exam, he can only answer computer-related questions, and the right to ask questions is completely open.

At the same time, for other fields, such as history, politics, and economics, Rex has an opportunity to answer once a day, and can choose a section.

If you get the first number of approvals in this section for more than three consecutive times, you will permanently unlock the permission to answer this section.

In other words, the user registration test is only the first threshold, and there are still some thresholds in the future, if you want to have more permissions.

At that time, Quora's internal operation team had a fierce dispute over whether to set such a strict threshold, because this has never happened before, and no Internet company has ever done it like this.

"Why can't we enable all users to ask questions?"

"Because the number of respondents is not enough, if everyone can ask questions, the questions will distract users. With [-] questions per day, there are only [-] respondents, and the user experience will plummet."

"Why can't users be qualified to answer all sections after passing the exam once?"

"The user has only proved his ability in this field, and he has not proved his ability in other fields. We give him a chance to answer once a day, which not only allows him to prove himself, but also motivates users to answer questions.

This is a set of mechanisms to stimulate user activity. "

"Users who were invited in the early stage have no such restrictions at all, but users who have passed the high-threshold exam face various restrictions. Is this unfair to them?"

"So we will introduce a series of supporting mechanisms to reward users who pass the high-threshold exam.

Through these supporting reward mechanisms, it even pushes the previous test users to take the exam in turn. "

In the end, Zhou Xin decided to do this. If the threshold is set high, it can be gradually lowered later, but if the threshold is set too low, it is almost impossible to increase it later.

Going back to Yahoo, Jerry Yang also agreed with Kevin. Zhou Xin lost himself in a series of successes. This way of setting thresholds is directly in opposition to users.

After the acquisition of GeoCities, Yahoo's series of measures for GeoCities, in Yang Zhiyuan's view, are far from Quora's user registration test.

They just increase the number of advertisements and limit the size of the page. Users are boycotting GeoCities on a large scale. Quora directly castrates most of the functions used by users, which is not a level at all.

Jerry Yang also believes that as long as Yahoo's knowledge quiz community is launched, it will be able to attract all the eager users that Quora has cultivated.

Quora's biggest opponent is Yahoo, which has a traffic portal, cash flow and personnel. NewPay's biggest opponent is PayPal's predecessor, Confinity.

Due to the high valuation of NewPay, the valuation of one billion US dollars, [-]% of the shares is [-] million US dollars, and the voting rights have also been castrated.

Only Wall Street can accept this price, Goldman Sachs and Morgan each subscribed 5.00%.

This also led Deutsche Bank and Nokia Investment Fund to realize the value of the electronic payment field. NewPay was valued at US$10 billion in the angel round. It is not unacceptable for Confiniti to invest US$300 million.

Therefore, Deutsche Bank and Nokia Investment Fund finally decided to invest in Confinity. Originally, the two investment institutions valued Confinity at US$900 million, and they jointly invested US$350 million.

After they resumed negotiations, Peter Thiel quickly realized that the other party's investment in NewPay was definitely not going well, and then used his contacts to know that NewPay's valuation was $10 billion.

"NewPay's valuation is $10 billion, Confiniti and NewPay are only separated by users, and the price NewPay paid to acquire a million users is only $2000 million.

Our valuation is $2000 million. "

"Peter! Are you crazy! Confiniti currently only has Pocket PC products, which is a very small field, and the number of Pocket PC owners is much smaller than that of computers.

As for the so-called information security technology, we cannot judge whether your technology is comparable to NewPay as you said. This is something that cannot be falsified or proven.

I admit that we are willing to reinvest in PayPal because NewPay's valuation is too high, and we think PayPal has the same potential.

But this does not mean that we can accept your starting price. "

Since Peter Thiel is also in a hurry, they need funds to expand to recruit people, and after recruiting people, accelerate the development of computer-side payment software.

Therefore, after two rounds of negotiations among the three parties, Nokia Investment Fund and Deutsche Bank invested $1500 million in Confiniti at a valuation of $500 million.

For the transfer, Confinity held a press conference in Silicon Valley and invited Zhou Xin to attend.

At this time, the management framework of most of Zhou Xin’s companies has been established, so he has the energy to spend more time in Berkeley. He spends three to four days in Corey Hall almost every week. Berkeley’s electrical engineering and Laboratory 307 in Corey Hall, Department of Computer Science.

This morning Zhou Xin was checking emails in Lab 307, and most of the work items would be sent to him by email.

"Invitation letter?" Zhou Xin thought, "An electronic payment company named Confinity invited me to attend their press conference.

Peter Thiel, I have a little impression of this name. Isn’t he the founder of PayPal? Is it because I came to this time and space that they didn’t start PayPal, but Confinity? "

For Chinese people, Peter Thiel is better known as an investor in Facebook. He invested US$50 in the angel round of Facebook and obtained a 10.2% stake.

This is also Facebook's first external investment.

Zhou Xin had an impression of this name when he was looking at the history of Silicon Valley, and electronic payment is the company he is most concerned about in the industry under his name now, and Confiniti is his very strong competitor whether it is PayPal or not.

Therefore, Zhou Xin still plans to go to see their press conference. The conference location is very close to Berkeley in Palo Alto, about 60 kilometers by car.

"Newman, I'm Peter Thiel, and I welcome you to Confinity's press conference.

We are also an electronic payment company. After NewPay's great success in the electronic payment field, this field has attracted extensive attention from investment institutions.

It is precisely because of this that Confiniti can successfully obtain external investment. "

　Quora will play a very important role at this point in time, not only bringing the first huge start-up capital to the protagonist, but also playing a more important role, so there will be a lot of space to talk about this matter.I won't tell you what exactly it does.
　　
　
(End of this chapter)