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Capital, or investment banks derived from capital, is very keen on the smell of various emerging industries.

Behind any new company in the century, investment banks are indispensable. They use their accumulated funds to support those talented business ideas, from zero to the ambition to achieve listing.

But since the boom of the investment bank, one company has left them scratching their heads: Apple, which has been in the city for less than a year.

In other words, the founder of Apple Inc.-Wenming!

Prior to the release of the iPhone, Apple's development process was still acceptable, although many people were surprised.

A genius boy wrote a best-selling book after living on a desert island, and got the first bucket of gold. Because he is a senior student in computer science at Harvard University, he had a deep understanding of the computer industry in high school, so he was able to develop a game called "Plant Vs Zombies".

In less than a month, nearly 200 million US dollars were created, which is not unacceptable to the game industry, because the game of "Plant Vs Zombies" is not too difficult to develop in the end, and does not require huge sums of money. Money structure server.

The success of this game comes from its completely new way of playing games and ideas all over the world.

After having these two billion dollars, the ins developed in less than a week has won the favor of a capitalist like Teresa Roy, and then sold the high price of nearly one billion dollars under various operating methods. (Includes Facebook stock value.)

Although it envied many Silicon Valley geniuses, it was not shocking.

The Internet and high technology have always been profiteering industries, of course, just to describe the successful ones.

But after Apple's actions, no one at the investment bank could understand.

Iphone has been born, which has made the world crazy and investment banks crazy.

Iphone's hardware design is not unconvinced, but there is no incredible technology. No matter the appearance or hardware configuration, many mobile phone manufacturers can copy it in a short time. The iphone can create incredible sales, the main reason is the ios system specifically designed for the iphone hardware.

The Ios system maximizes the hardware performance of the iPhone.

Speaking of the system, it is not impossible to develop it in just a few months.

"But why didn't he test it? No matter whether it's their ios system or the iPhone's lab finished hardware, we didn't hear about any test links."

Sequoia Capital is one of the most well-known investment banks in the world. Unlike many people now, they don't care about Wenming's ability to solve Tesla's technical problems. What they care about is whether Wenming can let special Sierra, like Apple, is changing the electric car industry.

Even, it is to make electric cars and fuel cars compete in the market.

"And their ipad. Although this product is, in a sense, an enlarged version of the iphone, but at the technical level, it is not a problem of zooming in and out at all. Even if they can make an iphone, it is not possible to In such a short period of time, Ipad has been developed and released. So I think that Wenming has already started to develop ipad at the same time when he was researching iphone. "

The person talking is the chief analyst of Sequoia Capital, which is responsible for analyzing which companies are worth their investment and why.

"And during this time, Wenming also resurrected 'dinosaurs.'"

This sentence made everyone in the conference room have an expression. A CEO of Sequoia Capital raised his doubts: "I always think that the genius named Wenming does not There may be too much credit. I mean at the technical level, his credit should be concentrated at the capital level, that is, investing in Benjamin. "

There are many funds under the name of Sequoia Capital. Different funds are called with a simple numerical prefix inside them, and these funds are added once, making Sequoia Capital an existence that the US government cannot ignore.

Everything, only because of those companies invested by Sequoia Capital, the market value created after the US Nasdaq went public added up to 10% of the total value of the Nasdaq stock market.

It's just that the $ 12.5 million they invested in Google became $ 5 billion after Google went public.

The chief analyst smiled and said, "We are not currently discussing whether Wenming owes credit to the fund or technology to the revival of the dinosaur project. What we are talking about now is the value of Tesla. Not worth our investment. "

This is the theme of this conference. According to common sense, Sequoia Capital should choose to invest in Apple as the main body, because the whole world knows that Apple is now qualified to go public, and as long as Apple Going public, then it will become the company with the highest market value on the day of listing.

But Apple's valuation is too high. Bill Gates agrees with a $ 150 billion valuation, but it is also a private one. Because Bill Gates' investment in Apple is a private investment, not a Microsoft investment.

For investment banks, a company with a valuation of 150 billion does not need to invest at all, because even if the company's market value can reach $ 100 billion, it is only about 6 times that.

"We discussed before that we couldn't invest in Apple, because although his return on investment is high, we need to mobilize a lot of our funds. If we diversify our funds into other companies, the total return we can reap is definitely better Investing in Apple is high. "

"But now we have a new investment direction, that is, Tesla just acquired by Wenming. I believe that even if Wenming is arrogant, it is impossible to believe that the current Tesla valuation can exceed 10 billion. U.S. dollars, because two weeks ago, Tesla's valuation was only $ 500 million. "

"More importantly, Tesla is now selling cars at a loss, and Wenming cannot make the company he just acquired a loss."

The chief analyst said: "So I think now is the best time for us to invest in Tesla, because we can lose money for him."

The person who raised the doubt just now is the head of the No. 7 fund established by Sequoia Capital in 1995. His fund's internal rate of return is as high as 174.5 percent. This is an incredible number in the industry, because the average return of the fund is 15% to 40%.

He also said, "I don't think we should invest in Tesla ~ www.novelmtl.com ~ No one can be a genius in all industries, nor can Wenming. I think Tesla will become the No. 1 in his life. One failed. "

Sequoia Capital's foreign investment requires the co-financing of many funds under their control, especially for companies like Tesla. Because of Wenming's premium acquisitions and capital injections, now that he wants to invest in Tesla, he can't even speak without hundreds of millions of dollars.

Some people refused, and some people naturally agreed. The head of the relatively late No. 8 fund agreed with his face and said, "I agree to invest in Tesla because I think Tesla can do wonders in Wenming's hands."

The headquarters of Sequoia Capital is in Silicon Valley. Tesla's headquarters is not far away from them. However, it has never formally appeared in Silicon Valley. However, it has gained the trust of some senior managers of Sequoia Capital. trust.

I have to say that Wen Ming's popularity in the world has far exceeded his own imagination.

Several funds that did not want to participate exited directly, and several funds that had no money on their books also withdrew.

The person in charge of the No. 8 fund directly said, "Well, let us take this opportunity? The two companies we recently invested in have just gone public and have cashed in a lot of liquidity."

Another fund manager who stayed said: "You don't want to wait any longer? As far as I know, Tesla has no way to solve technical problems at all, even if it has been in the Tesla laboratory for a week. Ming, there is no good way. "

The person in charge of the No. 8 fund laughed: "No, I am worried that if they find a way, I will have to pay more. Joining hands and throwing them at high prices aren't this our usual profit method? ?"8))!!