The Millennium Semiconductor Survival Guide.

Chapter 84 At the press conference
"Hello everyone, thank you for attending today's press conference. It is also a great honor to invite Mr. Newman Zhou, a leader in the field of electronic payment and one of the most outstanding technology innovators in Silicon Valley today, to our conference.

I am very pleased to announce that Confiniti has successfully received a US$500 million angel round of financing jointly invested by Deutsche Bank and Nokia Investment Fund.

Since its establishment, Confiniti has been committed to providing safe, convenient and efficient solutions for the Internet payment field.

Today's investment will help us scale, expand our business, and further advance our technological innovations.

We believe that this investment will bring more opportunities and challenges, and will also allow us to better provide value to our customers.

At the same time, we would like to thank our investors Deutsche Bank and Nokia Investment Fund for their trust and support to us.Their joining will provide us with more resources and experience, enabling us to better achieve the company's development goals.

Finally, I would like to thank everyone again for coming and look forward to working with you in the future, thank you. "

Peter Thiel has a typical Caucasian appearance, with slightly curly chestnut hair, and nodded to Zhou Xin when he mentioned Zhou Xin.

Originally, not many journalists were willing to participate. To be honest, Confinity is not a big company, and there are many small start-up companies like Silicon Valley.

Nokia Investment Fund and Deutsche Bank's investment arm are also lesser known.

And now the conference hall of the entire restaurant is full of reporters, because after Zhou Xin agreed to participate in the product launch, Peter Thiel released the news to the reporters, and the reporters flocked to him.

Confinity is not worth interviewing, but Zhou Xin is. Zhou Xin is the most topical figure in Silicon Valley at the moment, especially after the launch of Quora's threshold exam.

Even Deutsche Bank and Nokia Investment Fund originally sent an investment manager. After learning that Zhou Xin would attend, Clausen, the head of Deutsche Bank's VC department, and Kleist, the head of Nokia Investment Fund, attended the press conference.

Before the press conference started, the two persons in charge had a chat with Zhou Xin.

"We have asked Mr. Clausen to transfer this investment directly to us via PDA on behalf of Deutsche Bank and Nokia Investment Fund."

This is also a gimmick specially set up by Peter Thiel. The investment of 500 million US dollars is transferred directly through electronic payment.

Originally, the reporters focused their attention on Zhou Xin, thinking that they would surround Zhou Xin to ask him questions later, but now they are attracted by this novel method of transferring money.

PDAs were not uncommon at that time. In the first half of 1999 alone, the sales volume of PDAs was 65 units.

Although it cannot be compared with desktop computers, it is definitely not a niche computer device.

Especially for the text-type professionals present here, the popularity of PDA is even higher.

It was only when Zhou Xin saw the PDA that he realized that he could do this thing. The PDA has requirements for chips, but the requirements are not so high.

It is entirely possible to use PDA as a carrier to build an industrial chain around PDA in China, and then directly transform into a smart phone when the mobile Internet comes.

"This matter has to be carefully considered. I don't know much about PDAs. This market is completely different from mobile Internet and smart phones. If I rush to do this thing, I can't guarantee my success.

But PDA is a good direction for me. I have been in American for more than a year, or I have been in this era for almost a year, and I still have not integrated into this era.

I still don't think enough about what I can do. "Zhou Xin thought while sitting under the stage.

He originally wanted to start with the integrated circuits used in game consoles, and then transform into smartphones in the mobile Internet era.

But after looking at the PDA, he realized that the PDA model seemed more suitable.

Because he didn't know enough about games, only a few puzzle games such as "Angry Birds" and "Plants vs. Zombies" could be reproduced.

He has no time to play other masterpieces, let alone how to reproduce them.

While Zhou Xin was thinking, Peter Thiel and Clausen on stage had already completed the transfer.

The reporters in the audience were also whispering. Everyone was a reporter from the Silicon Valley technology media.

"It looks pretty good. This method is much more convenient than going to the bank to transfer money."

"No, no, no, I have used Confiniti's products, and their products don't require a password and only need to enter the amount and account number to complete the transfer.

Such a security risk is too high.

It is equivalent to losing your PDA. If you forget to unbind the bank card, all the money in the account will be removed. "

"No password? Are you sure?"

"I'm sure they don't need a password. Compared to NewPay, their method is too insecure."

After NewPay received US$[-] million in financing, it not only started to promote the implantation of each other's website with major online shopping sites, but also advanced the negotiations with major banks.

Silicon Valley is not as close to Washington as Wall Street is.

For NewPay, Silicon Valley pays more attention to the use level. As an infrastructure, what kind of changes it can bring to the entire Internet ecology.

Wall Street and Washington are more concerned about NewPay's risk control measures and how to avoid the security risks of electronic payment.

Among them, after the bank card is associated with the mobile phone number, the transfer needs to enter a password and a SMS verification code. This method requires the cooperation of the bank.

Because before NewPay put forward such a demand, no bank would require users to bind their bank cards and mobile phone numbers.

Originally, American did not wait until 2003. After the Federal Trade Commission promulgated the "Anti-Spam Act", some banks and financial institutions began to require users to link their bank cards and mobile phone numbers and verify them.

The bill sets out a series of requirements, including a ban on sending false or misleading commercial emails, while also requiring genuine contact information to be included in the emails.This usually requires including the sender's name, address and phone number.

And NewPay is now promoting this matter. If your bank card is bound to a mobile phone number, you need a SMS verification code. If you don’t bind it, you need a password.

In other words, there is a good chance that the measures NewPay takes will be adopted by Washington and become a common standard throughout American.

Wall Street pays more attention to NewPay's ability in this area, so Goldman Sachs and Morgan didn't blink their eyelids when they heard the valuation of billions of dollars and the A/B share structure.

"Next is question time. If you have any questions about Confiniti, you can ask us at any time."

(End of this chapter)