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The head of Sequoia Capital No. 8 Fund is discussing with the chief analyst of Sequoia Capital.

"Do you think Tesla is really worth $ 30 billion?"

Unlike Moritz's quotation to Wenming, in the Sequoia Capital's internal risk control report, Tesla will inevitably choose to go public in the next two years, and the initial market value estimate after listing is US $ 30 billion.

This is why Moritz was able to offer Wenming a $ 3 billion valuation.

The chief analyst said: "When Elon Muscu took control of Tesla, I think Tesla's market value can reach about 40 billion US dollars. However, it takes at least five years. But now, Tesla It belongs to Wenming, so I think that Tesla can go public within two years and reach a market value of $ 30 billion. "

The head of the No. 8 fund smiled helplessly: "I thought I was optimistic about him. I never thought you were more optimistic than me."

The chief analyst said: "It's not just me who is optimistic about him, but even Mr. Valentine is very optimistic about him."

This sentence made No. 8 very unexpected, because the chief analyst said that Mr. Valentine is the founder of Sequoia Capital-Don Valentin. He has a title that is the father of venture capital, not Sequoia. The father of capital's venture capital, but the father of venture capital around the world, shows its status and influence.

"Mr. Valentine also believes that Wenming can bring Tesla back to life?"

The chief analyst smiled and replied, "In fact, we never thought that Tesla would go bankrupt, but before that, Elon Muskow was too strong in control, and Tesla did not reach the most suitable investment level. , So we have never been to Tesla. Unexpectedly, Wen Ming was able to take a step ahead of us and buy Tesla wholly-owned. "

Elon Musk was also very rich before, so Tesla did not need financing. When Tesla wanted to raise money, Elon Musk's first choice was not Sequoia Capital, but Daimler Automotive Group.

No. 8 asked: "Ke Tesla's technical problems have not been solved. How can it be profitable? If it is not profitable, how can it get a market value of $ 30 billion?"

The chief analyst took out a document, handed it to No. 8, and said, "This is a result of our analysis of the list of equipment and materials purchased on Jurassic Island."

"Before completing the wholly-owned acquisition of Tesla, Wen Ming began to study Tesla's gearbox problems after acquiring a portion of Tesla's shares. After completing the acquisition, he was in the Jurassic period. I spent another week on the island. And this week should have been in the laboratory. It is worth mentioning that he was not always in the laboratory of the resurrected dinosaur. "

"And after he left Jurassic Island, it was equivalent to going directly to Tesla's laboratory. As for the laboratory on Jurassic Island, no one has ever gone in."

After reading the document on the 8th, he asked in a dumbfounded, "Why didn't you tell us this news before?"

If you do n’t understand it here, the person in charge of the fund does n’t have to do it. You do n’t go to the company after the acquisition, and you stay in the laboratory for more than a week before going to your own company. Is there any reason?

The chief analyst laughed: "Just as we can get some of his information, he might get some of our information. Now I tell you, because Moritz has gone."

...

Wenming didn't know that it wasn't Zef or Tesla's laboratory researchers who exposed that he could solve Tesla's technical problems, but himself.

At this time, he was listening to Moritz's proposal.

"Mr. Wenming, a fund in our name can be said to have the right to speak for the new United Automobile Manufacturing Company (NUMMI), and because this company failed to operate, it is necessary to sell the factory."

"That plant covers 370 acres and has 5.3 million square feet of production and office space."

Wen Mingting almost drooled, 5.3 million square feet, equivalent to more than 490,000 square meters, almost the size of his spaceship headquarters, which is larger than the current Tesla factory. a lot of.

But Moritz's surprise is not over.

"In addition, NUMMI was previously approved by Fremont to expand that plant until it reaches 10 million square feet. According to our understanding of Tesla's previous plant production speed, if Tesla Lhasa got the plant and began to rebuild it, and eventually it can reach the efficiency of producing 500,000 Tesla cars per year. "

What is the concept of producing 500,000 Tesla cars per year?

Tesla in another world, when its market value reached 60 billion US dollars, annual sales were only about 80,000 units. For Tesla in another world, such high productivity is really not very useful.

But for Wenming, this kind of production efficiency is really exciting.

Even if he lowers the cost, a Tesla sports car can earn 30,000 US dollars without considering the after-sales profit and other aspects. How much can it make by selling 10,000 cars?

Only $ 300 million.

Wenming is confident to sell more, but you can sell as much as possible. Tesla's existing factory is not available and useless. The production requirements of pure electric vehicles are different from those of gasoline vehicles. He cannot even find Foundry in other factories.

When the conditions of Moritz were finished, Wenming asked directly: "If I don't accept the investment from Sequoia Capital, will I have no way to buy that factory?"

Moritz laughed: "Of course I can't stop you from buying that factory, and even you can choose other factories to buy. But Mr. Wenming, I think you need to find a professional to figure out the right factory, and then negotiate the purchase The last time to carry out the reconstruction and expansion ~ www.novelmtl.com ~ time is very important. The reason why Wenming bought Tesla at a premium was to hurry.

From the current situation, his choice is very correct, because the current Tesla factory can produce 30,000 vehicles per year, which can provide him with a net profit of 900 million US dollars. If you add the after-sales profit, it is quite considerable.

Moreover, when Tesla's profit reaches this level, he can make Tesla go public. Then cash out tens of billions of dollars from the stock market.

Losing Tesla can reach a market value of 60 billion US dollars, let alone Tesla with annual profits of more than 1 billion US dollars?

By that time, not only will he be able to control Tesla, he will also be able to cash out large amounts of cash. This business is really a bargain.

But now, there is a more profitable way before him.

Adding 500,000 Tesla production is equivalent to a net profit of 15 billion U.S. dollars. By that time, how much should Tesla be worth?

Of course, the premise is that 500,000 can be sold in a year. But even if you can't sell 500,000 cars, with Wenming's performance improvement on Tesla's pure electric sports car, what difference can it make?

Wen Ming was very reconciled, because the more Tesla made money, the more valuable his shares were. If you do n’t let it go, it wo n’t be worth that much money in a short time.

"Mr. Moritz."

Wen Ming suddenly laughed and said, "In fact, we are preparing to try a new car today. Why not visit it together?"

With his eyes brightened, Moritz understood the meaning of Wen Ming, and he must have been dissatisfied with his offer. People who can report a valuation of $ 150 billion to a company that is not listed will definitely miss the $ 3 billion valuation. Free Reader !!