Reborn Entrepreneurial Giant

Qu Li met with Spreadtrum CEO Wu Ping and President Li Liyou for the first time, and talked about his future plans for Spreadtrum, to provide Honor with the world's leading high-performance and low-power mobile phone chips in five years.

Texas Instruments does not have a patent for WCDMA baseband chips, and Honor 3G mobile phones use Qualcomm's baseband. But it's not because of Texas Instruments' weak development capabilities, but because of patent issues. The 3G baseband they produce is a customized product that can only be sold to Nokia and Motorola.

Therefore, if Spreadtrum acquires the baseband chip department of Texas Instruments, it will gain strong development capabilities. If the price is right, it will buy it. If the price is not right, it will obtain WCDMA patent authorization from Qualcomm and recruit people from Silicon Valley to develop it.

At present, companies that can develop WCDMA baseband chips include Broadcom, ST, Infineon, Marvell, and Ericsson EMP. Qualcomm has the necessary patents, so while collecting patent fees from chip manufacturers, it also collects patent fees from mobile phone manufacturers. Broadcom is unwilling to submit A countersuit was launched, Qualcomm infringed Broadcom's patents, and asked the court to prohibit Qualcomm from selling infringing products. The final result, of course, is that Broadcom does not need to pay Qualcomm WCDMA patent fees.

MediaTek obtained WCDMA patent authorization from Qualcomm with zero authorization fee in 2009. Spreadtrum currently does not have WCDMA baseband products, and if all goes well, it should be able to launch next year. But the patent licensing fee is really hard to say.

A 34% stake does not guarantee that the Vision Fund will be able to control Spreadtrum, but there is no rush. The minimum price of Spreadtrum’s stock is less than one dollar, and Sun Jianhe still has a chance.

The next day, Sun Jianhe, Qu Li, and Shopee, a DOTA enthusiast, went to Los Angeles. Riot Games was raising money, and he happened to have money, so he could hit Penguin Games.

He doesn't know how to design games, but bragging is what Qu Li is good at. With his rich imagination, he quickly convinced the founders of Riot Games, Baker and Merrill.

"Benchmark and FirstMark Capital, I've never heard of them. You need to be cautious when looking for venture capital, and you can't accept any money..." Qu Li introduced his experience as a successful entrepreneur, spending more money to hire the best talents, reducing Enterprise management costs.

"Excellent people don't need management, they will take the initiative..." While introducing his experience, Qu Li did not forget to show his own advantages. Shareholders of Facebook and Riot Games' League of Legends will at least not be buried in numerous products.

Well, in fact, Qu Li is quite famous in the United States. It is said that some media interviewed Jobs and asked him if he regretted inviting Qu Li to participate in the Apple iPhone conference. Then there was the Honor G1, a new brand that even surpassed Apple in terms of praise. iPhone.

"Even without my invitation, he would still develop a smartphone, but if there is another chance, I should not mention his name again..."

Yes, without mentioning Qu Li's name, Google's Schmidt would not have known about such a person, and they would not have cooperated so early. The iPhone was launched less than a year ago, and Google launched the product. Qiaobu Of course he regretted it.

The legendary nature of Honor, coupled with his becoming a minority shareholder of Facebook, allowed Qu Li's story to spread widely on the Internet in the United States, and a middle-aged woman can do this!

Regardless of the grievances between Qu Li and Qiaobosi, after thinking about it, Baker and Merrill of Riot Games agreed to the Vision Fund to invest 10 million US dollars and take up 35% of the shares three days later.

"Is such a game company worth it?" Seeing such an "efficient" investment in a game company, Sun Jianhe really felt a sense of disobedience.

"This company has nothing, and its finances are clean. I am interested in this game and think it has a bright future." Qu Li explained

Sun Jianhe could see that Qu Li had put forward so many ideas in Riot Games, so it can be seen that he had the idea of ​​making a similar game, but he didn't know why he didn't do it.

"I have invested in Facebook, Twitter and Riot Games in North America, and I have also invested in Youku in China. I have never had time to do post-investment management..." Qu Li

"The Yuanjing team is being formed, and it will take time for some outstanding talents..." Sun Jianhe is also busy now, playing the role of trapeze.

The two discussed venture capital for a while. In the future, they will focus their investment on the mobile Internet industry and the semiconductor chip industry. The venture capital was just a supplement, and Xiangcai Securities was the key point. Qu Li and the others submitted a rectification plan, which was approved by Fei Liwen, the vice president of Lehman in Xiangcai Securities. Unfortunately, there was no reaction at all.

"Then let's wait for Lehman to go bankrupt or be acquired." Qu Li didn't take it seriously, would the fish fly away?

"What if Lehman survives?"

"Then they don't have the ability to expand overseas for the time being..." Lehman's stock price has gone from $50 in May to around $15 now, which is miserable.

The two chatted freely, describing Qu Li's original intention of investing in the semiconductor industry, and the national strategy: Japan's high-tech industry will be suppressed by the United States, and will China's best technology companies be spared? Including the recent news that Huatou is said to be preparing to take a stake in Morgan Stanley.

What happened last year was messed up by Wu Hongning, and this year can no longer be stopped. Morgan Stanley's stock price has fallen from around US$75 in July last year to below US$30 now, with a market value of about US$300. Wu Hongning has made no mistakes.

Qu Li also knew that their negotiations were coming to an end. Huatou purchased about 170 million convertible preferred shares of Morgan Stanley for US$5 billion. The conversion price was between 25 and 34. 9.9% of the shares, enjoying a fixed dividend of US$500 million per year, Morgan Stanley has the right to repurchase at a premium of 10% at any time.

It is basically a copy of Buffett's investment in Goldman Sachs. Unfortunately, Huatou is not Berkshire Hathaway, and its reputation is insufficient. Clients who should flee will still flee. However, when Lehman Brothers is not bankrupt at this time, Morgan Stanley's stock price can be stabilized for the time being.

Qu Li has nothing to do with Huatou's affairs. What he can interfere with is Huatou's $1 billion investment in Xiangjiang. Qu Li didn't expect that Wu Hongning really contributed to this matter, it was too magical. What he didn't know was that it was normal for sovereign funds to invest in private equity and hedge funds.

More than ten years later, 61% of Huatou's assets are entrusted investments, and 47% are invested in alternative assets, such as hedge funds, private equity, real estate, infrastructure, etc., with assets exceeding US$1 trillion.

With a base of 1 billion US dollars and his more than 500 million US dollars, Qu Li became more confident, and directly asked Zhang Yiwen to open a position above 140 US dollars to short crude oil by 20,000 lots. Originally, I thought it would take her a month to build the warehouse, but I didn't expect that Zhang Yiwenmang's mess was complete, and it only took a week to complete it.

However, as a result, the main crude oil futures price reached 145 US dollars and could not move forward. As soon as it took off, Zhang Yiwen beat it down. Everyone knew that there were big shorts entering the market. Down from $145 to $129.