Chapter 1047 The Bursting of the New Economic Bubble

Unfortunately, with the onset of the Internet cold wave, Jack Ma failed to find a profit model for e-commerce, and burned more and more money. When he flew to Tokyo, Japan, to report the company's situation to Masayoshi Son, Masayoshi Son was in the midst of In the darkest moments of his life, he was almost the largest Internet investor in the world. In the past few years, he invested in 150 Internet companies around the world. The shares of listed Internet companies held by SoftBank once accounted for 10% of the global stock market. Eight percent of market capitalization.

Masayoshi Son once surpassed Bill Gates and became the world's richest man, but now his assets have shrunk by 95%. The hundreds of Internet companies he invested in are in chaos, and no one knows where the future will be.

That day, the countries that came to report went in and out one after another with sad faces.

It was Jack Ma's turn. After he briefly talked about Alibaba's situation, Sun Zhengyi said quietly, "I came to report today. What you said is different from what I said when I invested in them. Only you are still there." Say what you said back then.”

After returning to Hangzhou, Jack Ma made a fortune to the outside world. Next year, Ajia will only make money. The media asked, what is the profit target? He replied readily, one dollar.

At this time, Fan Wubing was also busy engaging in operations related to Internet State Enterprises.

In the top-floor office of the Beijing headquarters of Fan's Technology Group, he was sitting on a desk with his legs twisted and his body lying in the boss's chair. Four secretaries were waiting beside him. The big screen opposite was constantly projecting company information. Basic information and operating performance.

Mr. Fan Fangbing reviewed the company at a glance or shook his head. Occasionally he would think deeply, and then the secretaries would give the company a rating based on Fan Wubing's reaction. Those who nodded meant buying. Those who are in or holding shake their heads are likely to be good, and those that can make Mr. Fan think deeply are naturally more important companies. At this time, Lao Kangbing will often make some instructions after some consideration. How to operate with Jueyu Youdang

These companies are the listed companies in China that fall within the scope of the new economy.

In the past three years, due to the rapid development of the Internet boom and the urgent need to solve the ten-year bug problem, many companies have made huge investments in infrastructure, group and individual consumption. A large number of investors purchased a large number of field software and hardware, ushering in an unprecedented prosperity industry with large investment, substantial increase in income, and high efficiency increase. But this depends largely on a kind of advance consumption and investment.

After entering this year. In the field of operation and service, the karma is full of problems such as waiting for leisure, heavy workload, and being unable to make ends meet.

In the fourth production and operation mode, companies are prone to falling into a market with declining orders and insufficient cash flow.

territory.

at the same time,

The negative impact brought about by the collapse of the stock market has further suppressed investment and consumption. The entire industrial chain has shifted from the upward cycle during the expansion period of the stock market bubble to the downward cycle after the stock market bubble burst.

As the star of this bull market, Internet companies fell the fastest and most miserably during the recession. A large number of small and medium-sized enterprises went bankrupt, and it became extremely difficult for large enterprises to operate.

In particular, telecommunications companies have not received due returns for their huge investments in network construction and corporate mergers and acquisitions. From newcomers to established giants in the industry, everyone has fallen into trouble.

A typical example of these newbies is Global Telecommunications, which was founded by four former entrepreneurs. At that time, its telecommunications network connected more than 200 cities in 27 countries around the world. Its market value was as high as 80 billion U.S. dollars at this time. Due to the sharp decline in network service prices, costs cannot be recovered, debts cannot be repaid, and it is on the verge of bankruptcy.

Lucent, which owns Bell Research Institute, the cradle of technology, has seen its stock market value fall from a peak of more than $250 billion to more than $10 billion.

And companies like Motorola. This year's losses have also reached 4 billion US dollars. Even Cisco, the world's number one network system supplier under Fan Wubing, had a short-lived

damage.

entire. The computer industry has fallen into its first major crisis in twenty years. Many small and medium-sized enterprises have gone bankrupt and delisted.

Corporate giants HP, Compaq, Apple, etc. all reported revenue cuts, losses, and losses to varying degrees. The stock price of Oracle, the leading database software company, fell by 90%.

Although the company's performance reflected on the big screen was not as good as it should be, Gu Laowu was in an extremely happy mood at the moment. What happened to the four secret bosses around him?

Seeing the incomprehensible expressions of the secretaries, Fan Wubing meditated, "Remember, as long as you have a wise enough vision, once the stock market falls and everyone is displeased, it is the time to enter the market."

The only thing Fan Wubing has to do at this time is to determine which industries can be acquired, and also determine whether these companies have good opportunities to acquire and the proportion of equity that needs to be acquired. Once these Wei conditions are determined, . The financial management team has been doing a lot of work since then.

Although he had previously asked Danzhuo's management team to complete two waves of operations, at present, it was indeed time for Fan Wubing to take matters into his own hands.

During the period of economic bubble expansion, listed companies face much greater pressure than usual on profit growth. This is not only the urgent demand of investors for the company, but also the surrender that business operators, especially the chief executives and chief financial officers, must make in order to ensure their own interests. The difficulty of answering satisfactorily is related to their high salary and stock options.

When the business conditions of enterprises are in great trouble, some business operators will take illegal means to falsify accounts, falsify business performance, destroy evidence, and evade audit supervision in order to win the favor of investors and ensure their own fame and fortune.

However, the truth cannot be hidden. After the economic bubble burst in April, a series of corporate financial scandals were revealed one after another.

In July, the American magazine "Wired" published a data. Among the top ten personal computer software companies in the world in 1984, Microsoft ranked second. This year, Microsoft jumped to the first place. The other nine companies of that year disappeared from the ranking.

The reporter wrote with emotion that perhaps we should redefine what a good company is.

The same ups and downs of companies also happened in China's new economy companies. Data shows that in the six years from 1995 to the present, only one-third of the top 20% of the largest companies in Guancun Science Park survived, but only one-fifth of the companies that survived are still among the top 20%.

In fact, compared with the expansion of the new economy bubble, public opinion and analysts bear a great responsibility.

When this batch of high-tech stocks rose wildly, most of the analysis and public media played a role in fueling the trend. There was a certain degree of blindness and limitation, but more of it was speculation.

How could financial analysts who grew up in the mature financial market of the United States have no doubts about the illusion of the Internet? But everyone involved knows that only by continuing to brag about the growth rate of the Internet can it continue to expand.

This is like the emperor's new clothes. Although no one can see anything substantial, the safest and smartest way is to continue to play, believe and appreciate it.

Just like what Buffett, known as the stock god, said in a letter to stock investors, for a period of time, investors' enthusiasm for technology stocks is like Cinderella in the fairy tale. She knows that the carnival ball will end at twelve o'clock. At that time, all the beautiful clothes, servants and carriages will disappear, leaving the poor girls, mice and sweet potatoes in tatters, but she is still unwilling to leave early. I always hope to leave a few seconds before Qianye Zhonghu remembers.

It's a pity that the clock at the ball doesn't have a second hand, and no one knows when the bell will ring. As a result, when midnight quietly comes, most people can't leave.

Hua Zai's clothes are gone, the carriage is gone, the mansion is gone, and there is only a lot of business.

Fan Wubing was busy all day, and he let go after he was sure that he had not missed any company with good growth and would make a difference in the future. At this time, after a statistics, it was found that more than 100 companies had been circled, and they were divided into three levels according to the degree of attention.

Unfortunately, for some of these companies, Fan Wubing is unlikely to obtain controlling rights, just like Softbank's Masayoshi Son, although his market value has fallen a lot, he is optimistic about some companies. He is unwilling to let go, and relying solely on the chips collected from the market seems not enough for Fan Wubing to make huge profits, which is indeed a big problem.

"Why don't you let these cunning Japanese have a brain hemorrhage?" Jie Kangbing was a little angry. But there was nothing he could do.

In fact, Fan Wubing had a much better chance of taking action against American companies, because the market liquidity in the United States was very good. But it was difficult to say for some domestic companies listed on NASDAQ. In addition to some companies he had invested in before, it was obviously very difficult to invest in some domestic Internet companies that the Japanese consciously controlled.

To a large extent, the Japanese had a strong desire to control these companies. It was not just for making money. They controlled some Internet companies that were in a rising stage in China. It was very helpful for Japan to expand its influence in China. Therefore, they would rather lose some money. They would never give up their rights in this regard.

Facing these persistent Japanese, Fan Wubing felt a little like he was biting at the right time.