Chapter 718： Speculative mentality

Chapter 718 Speculative Mentality

Throughout May, Eric and Chris were both rushing for the Firefly Investment Company to join the telecom operator sp.

The two sides have already confirmed the rough trading plan in early May. Sp- nt has issued 400 million shares to the firefly investment in exchange for a capital injection of 1.32 billion US dollars. After the transaction, the total share capital of the sp-nt is expanded to 4 billion shares. The shareholding ratio of Firefly Investment is 10%, and the two directors of the board of the sp. As long as this transaction can be successful, under the promotion of firefly investment, sp will also adopt Qualcomm's dma technology.

However, after the two sides drafted a trading plan, things are far from over. Although the legal threshold for the communications industry is gradually relaxed, as an industry that is strictly regulated by any country, it is necessary to pass a layer of review if it wants to enter smoothly.

Fireflies and sp. nt first need to submit the plan to the US Federal Trade Commission (t) for antitrust review. Firefly investment not only has Qualcomm involved in the research and development of mobile communication underlying technology, but also controls Nokia, which produces mobile communication base stations and terminal equipment. If it succeeds in investing in sp-day, it will basically open up a whole mobile communication industry chain, with the intention of monopolizing. The suspicion is very obvious.

If it was ten years ago, the transaction plan would be dismissed immediately after it was submitted, but in recent years, the federal government has continued to relax the legal restrictions of the telecommunications industry, which makes the possibility of trading schemes.

After Eric and Chris personally attended the hearing on the transaction and privately launched the public relations lobby, at the end of May, t finally approved the transaction between the two parties.

At the same time as T, the Firefly Investment and Sp. nt also submitted applications to the Federal Trade Commission (EC) and the Federal Communications Commission. After the passage of the most variable t, the remaining two departments are much simpler. In the week after the approval of the trading plan, Color and has successively approved the transaction applications of both parties.

On May 26th, the signing ceremony of Firefly Investment and Sp. nt was officially held at the headquarters of Manhattan Sp.

At the press conference after the signing ceremony, the firefly investment and sp nt high-level officially announced that the sp-day will be in-depth cooperation with Qualcomm, using dma technology to build a nationwide mobile communication network.

A month ago. After receiving fireflies to invest $300 million in targeted bond financing, ve zon has announced his participation in the dma camp. At this time, the sp-nt group with nearly half of the a and b mobile communication licenses announced its participation again, marking that the dispute over the US mobile communication technology standards has finally settled in the past few years, and the dma technology has not only got rid of the fate that may be completely abandoned. It has also successfully occupied more than half of the US mobile communications market.

Just after the press conference ended, Qualcomm's share price in the open market began to rise linearly. Before the close of the day, the stock price soared by 8% in a few hours. The price per share easily broke through the $30 mark, reaching $31.5. Compared to the stock price of around $17 at the end of last year, the market value of Qualcomm has risen by 85% in just half a year. It is only a matter of time.

“When I went to San Diego last time, Qualcomm’s communications equipment manufacturing plant was just beginning to be sited. It’s at least the end of the year to go to mass production. Although sp. nt promised to use dma technology, it’s impossible to wait for half a year. They decided Temporarily paving the gsm network in the Washington area. In addition, Qualcomm intends to cooperate with Sony to build the factory, the program was rejected by me, even if it is necessary to cooperate, the object should be Nokia, which is a good time for Nokia to enter the US market. Qualcomm in 1991 Before we took control of Nokia, we authorized a full set of DMA technology to Nokia. Although Nokia focuses on gsm R&D, there are still some foundations. They can also provide a group of professional managers to Qualcomm's equipment manufacturing plant..."

Time is the second day. It was just Saturday, I was busy yesterday, and most of the things were finally over. Chris came to East Hampton with Emily.

However, the two soon got into the Eric study and talked about the business. The topic of course started from Qualcomm. Chris knew very well that Eric’s recent series of layouts was largely for Qualcomm.

Eric leaned back on the back of the chair and listened to Chris. "When it comes to gsm and dma, I think that the two sides will definitely be unable to drive any party out of the market in a short time. The mutual integration of these two technologies is the most correct path. Just like this dvd format dispute, the two major DVD standard standards camps are very smart, and there is no waste in r+ and r- for ten years and eight years. Negative, but chose mutual support."

The standardization of dvd has been around for some years. However, due to concerns about the cheaper cost of DVD piracy, several major Hollywood studios have been trying to delay the launch of DVDs.

But until now, it is no longer possible to delay, with the Sony videotape lawsuit, Hollywood can not expect to pass the lawsuit to prevent the emergence of dvd, it is expected that after the summer file, several major DVD manufacturers will launch dvd player .

Chris also knows a little about this information. He said: "The standards mastered by the two major dvd technology camps are actually of the same generation technology. It is not difficult to support each other, but gsm and dma are already completely different technical standards of the two generations. It’s basically impossible to integrate."

Eric said: "I am not talking about the integration of operators, but the integration of terminals. Nokia has gsm technology. Qualcomm has dma technology. Both parties have very deep technical accumulation on both standards. Therefore, We want to launch a mobile phone that can support both gsm network and dma network, which is not difficult."

Dual Netcom and full Netcom mobile phones supporting multiple network standards are very common in later generations. However, in 1995, the new generation of digital communication technology has just been widely popularized. Several major technology camps are thinking about how to squeeze each other out of the market, and have never considered coexistence or even integration. Therefore, multi-Netcom mobile phone is definitely a very novel concept. .

Chris’s eyes suddenly lit up. Road: "Eric, this idea is really great, I think, it is better for us to hold a conference call tomorrow, to discuss this matter with Jorma Ollila and Owen Jacob, and support gsm and dma networks. The mobile phone. There is certainly not much market in Europe, but North America has already determined the coexistence of gsm and dma. This kind of mobile phone is definitely promising."

"Let's arrange it. "Jurassic Park 2" was released on June 2nd. I can probably stay in New York for a week," Eric replied. He also intends to work with Nokia's eo Joma recently. Ollila talks in detail.

Nokia is the first communications equipment manufacturer to bet on gsm technology, which is the key to its rapid rise in recent years, although it does not completely monopolize dma technology patents like Qualcomm. But Nokia's patents on gsm technology are among the largest in the world.

A few months ago, after the news of the firefly's investment in Qualcomm, Jomar Olila had doubts about Eric's practice in the email. In his view, blocking Qualcomm's dma technology is more in line with Nokia. Interests. Now, Eric not only did not do this, but strongly supported dma technology to grab half of the US mobile communications market, and Jomar Olila's response was not fierce. There will definitely be embarrassment in my heart.

Although on the phone and in the mail, Eric has explained to him the intention to do so. But more communication is definitely good.

Only by maintaining adequate communication and understanding their intentions, Eric can safely hand over the industry to managers to take care of, and he can also take more time to do other things.

Chris habitually took out a small memo from the shirt pocket and wrote down the matter seriously, only to Eric. "This matter is solved. I think we should talk about Yahoo. It is."

"I have been communicating with Ian a few times recently, and I understand their general ideas," Eric nodded and said.

When the equity incentive contract expired this year, the Firefly Investment team has begun to evaluate the work of Yahoo's key management. In order to determine the share of equity awards they can get.

Eric’s initial plan was to launch Yahoo’s ipo program after the equity incentive program ended.

But recently, several senior executives have agreed that Eric can delay Yahoo's listing date. Their reasons are also quite sufficient. The capital market is extremely profit-seeking. Once Yahoo is listed, the company will have to face performance pressure and give up the steady development strategy of step by step.

Under the repeated lobbying of Yahoo's management, Eric also began to carefully consider this issue.

A few years ago, Eric’s original idea was to list Yahoo in 1995. When the Internet bubble quickly spread, the Yahoo stock in his hands also passed the lock-up period, which can take advantage of the high price of Yahoo’s stock from the capital market. A large amount of money is available.

In the end, Eric’s original plan also had a very obvious speculative mentality. The subconscious mind only thought about cashing out, instead of running Yahoo.

After years of heart-breaking, Eric also realized that if he kept this mentality, his career would definitely have a bottleneck in the future.

Chris sees Eric's thought-provoking look and asks, "So, Eric, what do you think now?"

"You, do you agree with their ideas?" Eric smiled and asked.

Chris nodded and nodded. "Now the capital market is very popular with Internet investment. Therefore, I think we have delayed listing for several years. When Yahoo has a clearer profit prospect, it will definitely get more benefits."

Eric recalled that in the original time and space, the Nasdaq market began to be exponential in 1998, and in just two years it has soared from more than 1,000 points to 5,000 points.

If Yahoo went public after 1998, the funds raised for the initial issuance of stocks are definitely several times higher. However, under the strict financial supervision system, this funds will be used for the development of Yahoo itself, not entirely in Ai Rui. Individuals, although some funds can be transferred out through some methods, there is a big legal risk, and it is certainly not safer to take off the shares in their hands.

Cash, cash, cash...

Eric repeatedly recited the word for a few years in his heart, and suddenly realized that he is not short of money now, and that he has to invest more money, and he still has to invest.

The bend in the brain was suddenly straightened, and Eric also had a feeling of openness and a smile on his lips. He said to Chris: "That's it, postpone the ipo plan, but in any case, we should hurry Complete the ipo before the contract with Microsoft takes effect."

"This is of course," Chris also laughed with a relaxed smile. If Eric insisted, he really didn't know how to persuade: "Speaking of it, Microsoft's indos95 will be officially released in August, however, I think you should have used this system. Microsoft's stock price has been rising for a while, and the market seems very optimistic about this new system?"

Although Microsoft's indos95 is scheduled to be released at the end of August, in fact, many test versions have been streamed out. Outside the United States, pirated CDs have become widespread.

Eric also naturally used this set of operating systems that were very familiar with the past, saying: "I think this system may let Microsoft monopolize the operating system market, so we will probably have to confront Microsoft in the next few years. Microsoft has completed its dominance in the operating system market and is sure to enter the Internet market. I am not sure if Bill Gates will forcefully tear up the agreement. After all, Microsoft may not be willing to wait until 1999."

"I think Microsoft is starting to feel restless now," Chris smiled. "Steve called me a few days ago and said that Microsoft had contacted him. I hope he can leave Yahoo and join. Microsoft is about to set up an Internet department."

Chris said Steve is Steve Mitnick, who is in charge of Yahoo's technical department, and a good friend of Chris University. In Eric’s view, several of Yahoo’s main managers, Ian Gnell, Jeff Locke, Steve Mitnick and Tina Brown, among the four, Steve Mitt Nick is the most important thing for Yahoo, because he is responsible for the core technology development of Yahoo's major Internet products. If he is dug, Yahoo will definitely be turbulent for a long time.

Eric was surprised: "Really?"

Chris nodded and saw Erik’s worried look on his face. He smiled. “But you don’t have to worry. I know Steve’s character very well. Since he called me, he definitely won’t. Leaving Yahoo."

Of course, Eric couldn’t completely let go of his heart and ask, “What about the other people?” (To be continued.)