Rebirth of America, this is my time
Chapter 174 Investment is never a business
what are you saying?
You were kicked out by Ethan Jones?
Winter 1977, Florida.
The sun was shining brightly in Miami before Christmas, and the warm current from the Atlantic Ocean made it as warm as spring. In the hilltop villa overlooking the beach, Lawrence of the Rockefeller family was lying on the rattan lounge chair in the sun room, enjoying the salty moisture coming from his face. Hai Feng lazily spread out his body and let two young girls in uniform squat beside him to help relax the muscles in his legs.
After summoning his subordinates who came to report the latest developments of the incident, the old man in a white bathrobe opened his eyes slightly and looked at the two of them with doubtful eyes, Ethan Jones scolded you?
Wow - you are really awesome! You can give me some fun as the holidays are approaching -
The boss's words made the two middle-aged white men freeze in place, daring not to move.
And if Ethan was also present at this moment, he would be surprised to find that there were two of them in the Wenlock investment team that he had negotiated with before.
As Lawrence Rockefeller's direct subordinates, they should not have gotten together with Wenlock's guys, but Apple was the boss's hand-picked project, so they temporarily joined the negotiation team, and then witnessed with their own eyes Ethan Jones. Their investment manager was scolding him.
Then……
When they found that their investment was at an impasse, they could only come back and report the situation.
From a common sense point of view, investments worth tens of millions are considered small projects in Rockefeller's family. If the two of them cannot solve it, then there is a problem with their ability no matter how you look at it.
But that’s not how many things work out, right?
If it is just an ordinary project, they have a natural advantage in negotiations, then they can naturally win the boss's favorite project quickly. But when the backgrounds of both parties are evenly matched, how can they dare to offend the boss who is not afraid of Rockefeller? What about the person who posted the sign?
Therefore, many times, many things are difficult for them to handle.
As they fell silent, Lawrence Rockefeller closed his eyes again.
Tell me about it. He understood his subordinate's dilemma and ordered, Tell me about the specific situation. I want to know what you and Ethan Jones exchanged.
The two people breathed a sigh of relief at the words of concern for the people, and they hurriedly reported yesterday's negotiation process in detail. When the old man leaning on the recliner learned that Ethan Jones was not just yelling like a country man, but When he refuted the issue in the investment column, he closed his eyes and listened with the corners of his mouth slightly raised; while the two of them came up with the report that the expert team rushed to prepare overnight, they said that Apple's operating chaos may be just a symptom. When Ethan Jones can neatly use professional terms to refute the questions they raised, his clear thinking can at least prove that Apple has no problems on paper. As for the actual operation... there may still be a little flaw... …
Is this mistake referring to Ethan Jones?
Lawrence Rockefeller heard the meaning in the panel's words.
Yes.
The two subordinates nodded quickly, Our people still feel that Apple needs to introduce a professional manager. Because Ethan Jones cannot have enough time to manage two companies at the same time.
Yeah. This result made Lawrence Rockefeller nod slightly.
Then he stretched out his right hand and said: Minutes (meeting minutes).
The two people quickly handed over the bound documents.
After briefly flipping through it, this old man who was of the same era as Fred Terman suddenly laughed out loud.
Actor! he muttered.
Then asked: What do you think of what Ethan Jones said yesterday?
This question made the two subordinates a little embarrassed. They looked at each other and said, Boss, we personally feel that what Ethan Jones said actually makes sense...
Snapped!
As soon as these words came out, Lawrence Rockefeller immediately closed the document in his hand and threw it aside. Then he stood up and pushed away the servant who was massaging him.
As they left, the old man with his hands on the railing of the sunroom looked at the blue sea and said with a smile: Yes, your feeling is right. What Ethan Jones said actually makes sense.
How to turn technological products into consumer goods that the public needs, that is the real beginning of a revolution. There are a bunch of patent results lying in various laboratories in our country. Everyone knows that those products mean the future, but no one knows Know when that future will come.”
So, many times we are waiting there quietly, waiting for one day, someone can discover the function of those patents, waiting for one day, someone can bring them to the market.
“This process is always so long and painful!”
“That’s why every change that occurs is exciting!”
“Ethan Jones was right when he said that two Steves who could discover the needs of ordinary people’s hearts will certainly be remembered by the world, and when this fact has been proven countless times by the world, our people use the words of a class action lawsuit to fight for it. The management right of a company is a kind of...
Unwise behavior.
Lawrence Rockefeller gave his own assessment.
Maybe they also want to complete the investment as soon as possible? Two subordinates tried to explain.
Humph~ Lawrence Rockefeller smiled and turned around.
But they caught Ethan Jones.
These words left the two middle-aged white men speechless.
Before they could speak again, Lawrence Rockefeller made his decision.
Let's open it.
... The two subordinates looked tense.
Let the finance department clear their wages so they don't have to come next year.
Lawrence Rockefeller leaned on the railing and said: These people, who are over two hundred years old in total, are not as sensible as a twenty-two-year-old child? Keeping this kind of trash in the company will only ruin my mood!
“Our investment company has been established for so many years, don’t they still understand what I mean?”
“Why should I invest in technology companies?”
That's because Vannevar is right! Technological development is the future!
Many people have been nostalgic for the glorious days when Rockefeller sold oil, but buying and selling resources is a business that cannot last long! It will also make countless people have bad intentions towards you!
Technology is different. This kind of field that can change the world and change mankind will always exist. If Rockefeller wants to exist forever, he must be integrated into it!
This kind of integration is not about crazy financial investment like Morgan and Goldman Sachs, but actually participating in the development of each company! Because financial pursuit alone can easily lead to the short-sightedness of chasing profits! Just like I always feel that AT and T must not dismantle Bell, IBM must keep Watson forever! In many cases, certain R\u0026D expenditures are necessary! But in the eyes of those engaged in finance, these are all garbage that drags down financial reports!
While our people did not display this kind of ignorance in this negotiation, their disrespect for Jobs and Wozniak was enough for them to...
Get out!
The serious words made the two subordinates nod hurriedly.
As they responded, Lawrence Rockefeller also took a deep breath and changed the subject, So, where are the documents you mentioned that Ethan Jones threw to you?
A document with their needs on it?
Where?
I want to see.
This inquiry caused two subordinates to immediately open their briefcases and present a brown paper document bag to Lawrence Rockefeller.
Pulling it open, Apple's financing requirements immediately came into view.
First of all, there is the pre-investment valuation of Apple made by Ethan Jones. According to his calculations, Apple's net profit in 1977 should be about 10 million. According to the current development prospects of the personal computer industry, Yishan Sen felt that Apple deserved a price-to-earnings ratio of thirty times, so Apple’s current valuation had to be 300 million no matter what. Lawrence Rockefeller could only talk about it if he accepted this valuation first.
Secondly, after the investment is completed, Lawrence Rockefeller needs to give certain help in the development of Apple, and there are two points that must be written in the investment agreement.
The first point is that Lawrence Rockefeller must promise to help Apple establish a sales channel throughout the United States within the next two years, so that Apple can get rid of the garbage operation of the U.S. Postal Service's slow delivery and realize the freedom of Apple's distribution throughout the United States. ;
The second point is that Lawrence Rockefeller must ensure that in the next two years, he will help Apple enter universities across the United States, realize education procurement in each state, and turn Apple into a teaching tool and educational machine.
If these three conditions only seemed harsh and were not difficult for the Rockefeller family to implement, then the fourth condition made the old man stunned on the spot.
Because it says that after the investment is completed, Lawrence Rockefeller needs to recommend several CEOs with rich business experience to Apple...
So that's why you came to me, right?
Lawrence Rockefeller asked, pointing to the fourth item on the cooperation book.
Uh...yes... The two subordinates smiled and nodded, saying: After seeing the conditions proposed by Ethan Jones, we don't know how to continue the negotiation at all.
While he wanted to continue to retain his power within the company and not give us the power to appoint and remove the CEO and CFO, he also asked us to recommend a suitable executive to them...
This is somewhat conflicting no matter how you look at it.
Haha—— Lawrence Rockefeller chuckled, Can't you see?
I do not believe.
You just don't dare to take responsibility.
This comment made the two white men laugh.
And that pedantic action also made Lawrence Rockefeller shake his head, Ethan Jones knows that Apple has problems, and he also knows that Steve Jobs may not be suitable to be CEO, at least not now, so he A professional needs to be brought in to lead the company.”
He knew we had the resources, so he let us look for them.
But at the same time, he doesn't want to hand over power to us, so he will let us recommend it instead of directly appointing it. For this, he can have a debate with you.
At this point, Lawrence Rockefeller suddenly smiled and shook his head.
This young man is quite interesting.
How old are you this year?
Twenty-two? Or twenty-three? I didn't expect to be so interested in power.
At this point, Lawrence Rockefeller suddenly stopped.
His eyes were staring blankly ahead, and his soul seemed to have flown to the sky.
Such a situation made the two white subordinates swallow their saliva and secretly said something bad.
Because the boss's words reminded them of Nelson of the Rockefeller family. He also valued power so much that Lawrence was unable to get the right to run the family business.
If the other party hadn't suddenly wanted to pursue an official career, their boss would have been suppressed.
Ha--fifty years have passed--
After a while, Lawrence Rockefeller suddenly came back to his senses.
He smiled at his two subordinates who seemed incompetent but would never make him angry, and asked, What do you think of Ethan Jones's conditions?
Although it was a question, he did not give the two of them a chance to answer, and said to himself: Are you ready for the choice of CEO?
This question gave the two men an answer.
Boss, we have been looking for him for a long time. They said impatiently: We think Harry Thornburn, Robert Canterlot, and Roger Corian may be more suitable.
Although Lawrence Rockefeller was confused after hearing the names of these three people, it didn't matter. He waved his hand and said: After the festival, you will give the information of these three people to Ethan Jones and ask him to Choose the CEO you want and we’ll do the rest.”
At the same time, tell Ethan Jones that we can accept Apple's pre-money valuation of 300 million, but our investment is still only 10 million, but this time we only take 10% of the post-money. Nine-person board of directors It still needs to be established, and we will get seats based on equity this time.”
Because whether it is the construction of North American channels or orders from universities across the United States, it can make up for their financial losses. Since they want to make the company's business better, they must show some sincerity. , isn’t it?”
Then you're telling Ethan Jones that I need to see their next generation product, something that's more competitive in the market, before I invest.
The continuous arrangements were faithfully recorded by two subordinates.
While they were writing furiously, Lawrence Rockefeller thought again.
Finally, he added, After the investment is completed, you will make an announcement to tell the outside world that Wenlock has acquired 10% of the equity of Apple, which is valued at 300 million, at a price of 10 million. And we will Fire Steve Jobs as CEO of the company.”
‘…’
When these words appeared, the two people who were recording the boss's request had a meal.
Boss, what do you mean? They were puzzled.
What you are doing is sending a message to the outside world that we are at odds with Apple!
Although we currently have some conflicts with Apple, after the investment...
Aren't we just a family?
after all……
“Business is business?”
The two made suggestions anxiously.
Ha ha ha ha--
The subordinate's words made Lawrence Rockefeller laugh.
You two are right, business is business! But investment is never business!
“Investment is not about companies, but people!”
At the same time, there must be many companies in an industry.
“Why should we choose Apple over anyone else?”
First, because they do better than most of their peers! Second, because their concepts and technologies are good! Third, because their founders seem more worthy of success!
The two white subordinates frowned slightly.
Lawrence Rockefeller, who was in a good mood, smiled and answered their questions:
Do you know what the difference is between the first generation of rich people and the second generation of rich people?
The rich generation stepped on everyone to get to the top! The rich second generation enjoys the awe of the world!
If the rich generation wants to succeed, then you have to kill all your competitors!
I don't know if there are other ruthless people in the computer industry now, but Ethan Jones obviously has this awareness. It took two and a half years since he founded the company, but three giants have attacked him?
In this case, let him fight!
If he can keep winning, we will keep holding Apple stock!
This may be a bit cruel to him...
But he'll thank me later!
Lawrence Rockefeller smiled brightly.
But on this warm seaside, the two white subordinates still felt the cold of winter.
Okay...ok...
They swallowed and answered carefully.
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