Chapter 715 Go Back, or Stay

With the birth of the little guy, Feng Yiping's exchange student career in the United States is coming to an end.

Although one class is missing for every class now, Feng Yiping was not active in this class, although this class on corporate mergers and acquisitions taught by Professor Black was also very helpful to him.

The subject taught by Black, the content of each class is very solid, mainly because in the past few years when .com was booming and the Internet bubble had not burst, those big companies with too much money played the same game. Spending money outside has given Professor Black too many examples.

For example, the largest and most failed merger in the United States, in 2000, America Online and Time Warner merged, and the total value of the two companies reached 350 billion US dollars! Properly, the company with the largest market capitalization in the world at that time.

You must know that more than ten years later, when Apple's market value was the highest, it was only about 500 billion US dollars.

However, it was almost a merger, and the two originally good companies immediately began to decline. In April this year, they announced their financial report, creating the largest loss in a single quarter in the history of the United States, and it is estimated that the company is also in the history of the world, 54.2 billion Dollar! Debt has also reached $28 billion.

Comparing these figures, Feng Yiping suddenly felt that he was so poor, so poor, so poor!

The stock price has dropped from close to $100 two years ago to less than $10 today—Feng Yiping hates himself for not paying attention to these things, so he missed such a good opportunity to short.

Regarding the reasons for this situation after the merger, Professor Black talked a lot, and everyone also expressed a lot of opinions, such as the contradictions of the management, the failure of the company's cultural integration...

However, Feng Yiping believes that these two companies can only be said to be ill-fated. The timing of the merger almost coincided with the bursting of the Internet bubble, followed by 911. That terrorist attack also had a great impact on their stock prices. hit.

However, such a view is naturally not easy to express.

First of all, isn't it just confirming foreigners' views on China's backwardness and ignorance?

During this period of time, Yahoo was also very willful. In 1999 alone, it acquired Broadcast.com and GeoCities for US$5.7 billion and US$3.56 billion.

These two mergers and acquisitions did not get high returns like it did when it bought a stake in Alibaba later. The two projects acquired at a high price have now failed, and more than 9 billion US dollars have been wasted.

It seems that Yahoo's subsequent decline must have something to do with its current willfulness and impulsiveness.

They also analyzed many reasons for this matter, but for Feng Yiping, there is only one, that is, when there is a lot of money, don't panic, don't feel hot, just keep it in your hands for a while.

No matter when, it is a good thing to have more cash in hand.

Microsoft also contributed a case, but it is still relatively cautious. It acquired Hotmail for 400 million US dollars in 1998. Although Hotmail is not operating well now, and finally disappeared in Microsoft's product line, but overall, it works after all. After more than ten years, plus this comparison, the amount is not too much. This merger can almost be said to be successful.

It seems that as a legal person, the character of a company also seems to determine their fate.

For example, although Yahoo also missed the mobile Internet, Yahoo plummeted, and Microsoft can still support Gates to become the richest man almost every year.

For a company like Jiasheng, what determines her character? It is mainly due to the character of Feng Yiping, the single major shareholder. These cases are a wake-up call for Feng Yiping. If he wants to realize his wish and build a century-old company, he cannot rely on his own foresight to let the company's character Become impatient and impulsive.

In addition, Feng Yiping felt sorry for the later father of WeChat. The Foxmail he developed was sold for 12 million RMB in 2000. In the previous two years, the price of Hotmail was 200 times that.

You said, if Mr. Zhang also sells his own software for hundreds of millions of dollars, would he have the motivation to develop WeChat later?

The last case is that former Apple CEO Jill Amelio spent $429 million to acquire NeXT founded by Jobs. Then, he was sadly kicked out of Apple by Jobs, who he hired back at a huge price.

During the discussion, Hahn smiled and asked Feng Yiping, "Feng, what's your opinion on this case?"

This guy is so unkind, he knows Feng Yiping's relationship with Jobs, he is digging a hole!

"I think Amelio is doing the right thing. Apple can slowly get out of the trough, thanks to his acquisition," Jobs should be satisfied when he heard this!

"I think Jobs did the right thing. When it comes to the interests of the company, he should not be concerned about some personal interests," said Jenna, the only woman in the group.

As expected of someone who has been an intern in the White House and has personally experienced Uncle Sam's behavior style, he is really a bit cruel.

Professor Black came over with a smile, "Feng, are you interested in formally applying to our college? If you have this idea, I think I can provide some support,"

The professors of the school have more sources of information than the students, and they all know Feng Yiping's actions after he arrived in Silicon Valley. Now no professor dares to underestimate this young Chinese exchange student.

"Thank you, Professor Black. I have learned a lot from this year's study. I am willing to continue my studies here. However, as you know, Professor, I have a lot of things to do in China, so I still need to think carefully."

What Feng Yiping said was not polite.

Stanford Business School, both in terms of faculty and curriculum, is stronger than the current Tsinghua School of Economics and Management, and the teaching methods are also very different.

Not to mention other things, just talk about some courses, Tsinghua is definitely not as fast as Stanford.

The cases that the School of Economics and Management will analyze may be ten years ago, and for various reasons, some classic cases may not be mentioned.

In Stanford's case, it will not exceed five years at most, and there is no taboo when choosing. Naturally, the latter is more helpful and inspiring to students.

"Well, if you think about it, I'm actually looking forward to it. If you stay in the school for another year, what measures and achievements will you have?" Professor Black said with a smile.

If he stays for another year, he will naturally have something to do. For example, after doing so much preparation work, his participation in Tesla, which will be founded next year, will definitely be indispensable.

It seems that it was an appointment. After the afternoon class, Dean Levitt came to Feng Yiping again, "Feng, the school year is coming to an end, are you interested in transferring to the college to study? If you agree, I can help you deal with all related matters." matters,"

Why are you so enthusiastic? Do you want to make me proud?

In fact, prestigious schools and well-known graduates also serve as backgrounds for each other. For example, Stanford students will say that their alma mater is Stanford, and Stanford will inadvertently say, what, HP, Google, etc., their founders, They are all cultivated here.

What Feng Yiping did at Stanford this year, as well as what he did before, let these professors and administrative officials know that this guy will not be an unknown guy in the future, at least in the business world, and it is worth making some efforts to win him over. a handful.

"Thank you and the college for your kindness. Professor Black also mentioned this issue. I am personally willing, but I have to consider other factors comprehensively. Can you give me some time?"

"Okay, one more thing, if you decide to stay, you're already eligible for our scholarship," Leavitt said.

He knew that Feng Yiping would definitely not care about this little money, and he might not even apply for it, but it was enough to express the sincerity of him and the academy.

So, whether to return or stay, this is a question.