Chapter 1281 The World Is Changing Rapidly

"Filson, I'm curious about why that stubborn old guy doesn't go short America Online." Looking at the report in his hand, William White looked weird. Or maybe it's a bit indignant.

If you are investing in a stock, you need to fully understand its operations. Shorting a stock, then, requires even more. At the very least, considerations of capital adequacy are indispensable.

William White couldn't understand that NBC Online's valuation was less than 150 billion, while America Online's valuation was very close. From the number of registrations to paying users, it should be said that the number of paying users is slightly weaker. As for other things, NBC Online clearly has an overall advantage.

But, why don't you, you bastard, go short MIOL?

"Ahem, boss, there are two main reasons. The number of dial-up Internet users is also counted as paying users. If we only count email and instant messaging, their number of paying users is not as high."

"Um, can it still be calculated like this?" William White was a little stunned. The cost of dial-up Internet access was only twenty dollars a month. What's more, the profit that could be attributed to Miguo Online was actually very limited.

"Yes, in the eyes of most people, the cost of dial-up Internet access is tangible. Although there are many competitors, millions of user groups, even our think tank, are very optimistic about their costs. develop.

Another factor is that the negotiations to acquire Time Warner have made breakthrough progress. With such a big uncertainty, Julian Robertson didn't dare. A bad old guy would lose his bottom. "

"Acquiring Time Warner? Philson, this should be said to be a merger or merger. It seems that Time Warner is used to mergers and acquisitions. Hehe, it's just that how do they plan to integrate and manage two companies with such huge differences? layer.

Forget it, let’s take a look. "

William White certainly knew that there must be those old money families behind this merger. But, why do you think that one plus one can be greater than two. It's very likely that it's second-rate.

Mergers and acquisitions are not news in the United States. To put it bluntly, if there are no mergers and acquisitions, how can you say that capital is excessive? Not to mention success stories, if we talk about failures, there is no doubt that the merger between America Online and Time Warner is an unprecedented disaster.

In fact, William White's think tank couldn't understand the boss's brain circuit. Isn’t it an eternal truth to become bigger and stronger? But why don’t you do this?

If this was before America Online came into being, you could say that doing this would easily lead to an antitrust investigation by the Department of Justice. However, since there is an extra big head, you still have nothing to worry about.

"Felson, so, the merger is just a certainty, right? What's the purpose of your visit today?"

"Ahem, boss, the Federal Trade Commission, they want..."

"No, just send a manager there. These damn cystic worms, since they believe that the market has the ability to self-regulate, why do they need to worry about trusts now.

Hey, if the two companies merge, it will be a company with a valuation of close to 300 billion US dollars. God, those old immortals must have burst into tears when they looked at their treasury, right?

Alas, there was a time when even a company worth $50 billion could be called great. Okay now, you may need to add a zero after this. "

Filson smiled bitterly, this year at the end of the century, for those traditional wealthy people. It's been a disastrous year. Not to mention heavy industries such as steel and chemicals, they are basically losing money.

Gold, oil, and minerals are normally used to combat inflation. However, it has no use at all.

"Ignore it, boss. That seems to be the attitude. They just sent a marketing manager. Although he also expressed concerns, he was more of a mockery of the committee."

"Damn, he won't do it, right? So, William White doesn't care about America Online's acquisition?"

"Yes, boss, I didn't mean to add insult to injury."

"Andy, what do the think tanks say? Do the new guys here have any different opinions?

Alas, am I getting old? Those bastards have always liked to come to our Dalian to poach people. Once upon a time, we actually lost the advantage of talent. "Well, the old guy is overthinking. High-end talents in the securities industry have a mentoring relationship, and William White can dig out a few. Not to mention competing with Morgan Stanley, compared with those smaller securities firms, they are still inferior.

"Ahem, boss, there are indeed differences. However, they don't seem to be able to produce any data.

So, they reserved their opinions. "

"Um, is this okay?"

"Ahem, boss, I just went to communicate again. One of the guys was forced by me to say,

If this merger was not good for NBC Online, William White would have taken action long ago. However, various data show that the merger of America Online and Time Warner can greatly enhance their competitiveness.

Ever since, this has formed a paradox. "

"Well, I understand what it means. Let's just consider it an attitude. Let's take another look. One thing must be certain. William White is a cautious person. If it really threatens his status, he will definitely not ignore it."

The old guy didn't know, and even William White himself wasn't sure. At the very least, he has no way of determining short-term stock price fluctuations.

There is no way, in today's world, it is hard to say how other things have changed. At the very least, the IT industry has changed beyond recognition. There may be many reasons for the failure of America Online in another time and space, but the interference of the Federal Trade Commission is definitely a very important factor.

What is the importance of the Internet?

Come on, if you can't do this, everything else is nonsense. Either it has been imitated, or it has been merged. If it cannot rise in a short period of time, then there is nothing to say.

As for the Board of Trade?

This is a group of the most staid old guys. If you expect them to be efficient, it is a big joke.

Even if William White has a disapproving attitude towards a merger worth over 100 billion, these old guys will not be able to let you pass easily.

And then, what about the European Commission?

It's just a matter of imitation. You Yingjiang dares to fire the first shot. Believe it or not, these guys dare to go into battle shirtless. Anyway, I will fine you hundreds of millions and then delay it for a year and a half. Huh, I don't believe you have any temper.

Ahem, what about that? Is there any way?

Of course, since it is the stronghold of conservative forces. So, there is no need to think about who should be approached to lobby.

What, this is robbery by open fire. How is it possible, isn't it talking about the lighthouse country, isn't it talking about Panzi? You can't even do a fair deal, and you still talk about what you have and what you don't have. Isn't this so shameless?

You're right, it's just shameless. Since there are such great benefits, why do you need to be embarrassed?

Take a look at the so-called high-tech companies that came later, such as the shockingly huge Google, the unscrupulous Acquisition Company, and the rotten Apple that collected tolls. There is one company that counts as one, and there is no one that does not have a monopoly.

However, antitrust is more like a joke to them. The most you can do is pay some protection fees, and that's all.