Top of the Great Era

Chapter 2088 Capital Shortsightedness
Boss Ma lowered his head to drink his tea, still sipping his tea, he just looked at Zhou Buqi's expression, and said proudly: "The capital market is cold to Yahoo, we just need to give Yang Zhiyuan a little warmth, and the matter will basically be settled. "

"Is that so..."

Zhou Buqi's thoughts had already flown.

Boss Ma said leisurely: "Last night, I chatted with Yang Zhiyuan for more than three hours. He is under too much pressure now, and the shareholders and the board of directors are opposing him."

Zhou Buqi asked, "Why did you object?"

Boss Ma said: "Yahoo's largest shareholder is now the hedge fund ThirdPoint, which has been operating recently and wants to drive Yang Zhiyuan out of the board of directors, including co-founder David Filo. ThirdPoint CEO Daniel Loeb also He made a public statement, saying that he can contact other private equity companies to take over the shares held by Yang Zhiyuan and Fei Luo."

Zhou Buqi nodded, "It actually makes sense. The founders regard the company as their own child, and the shareholders regard the company as a tool to make money. This is a fundamental contradiction. Yang Zhiyuan cares too much about Yahoo's long-term impact, while Not to do something good for Yahoo shareholders."

This is fooling around.

The most beneficial thing for Yahoo shareholders is actually to stick to it and not sell it. When Ali soars into the sky, Yahoo shareholders will wake up from their dreams with laughter.

Yahoo holds 40% of Ali's shares. If it doesn't move and persists for six to seven years, it will be worth 3000 billion U.S. dollars by then. This is the maximization of benefits.

At its peak, Yahoo's market capitalization was only $2000 billion.

However, this is the difference between entrepreneurs and capitalists.The former pays more attention to the company's future potential and growth, while the latter pays more attention to the immediate real benefits.

Especially those private equity institutions and hedge funds, this is determined by the system of their capital institutions.

The managers of these hedge funds earn annual dividends.

In other words, the more they earn this year, the more dividends they will get at the end of the year.If there is less income this year, there may not even be a year-end dividend.

As for what happened after six or seven years...

Stop talking!
The liquidity on Wall Street is too strong, and the elimination rate is too high.So many years later, it is not certain whether I am still the manager of this private equity institution or hedge fund.

No matter how much you earn in the future, what does it have to do with you?
It's better to keep your pockets safe, and the money you earn is the safest.

This is the inevitability of "capital shortsightedness".

Therefore, this is the most irreconcilable contradiction in Yahoo's shareholder meeting and board of directors.The corporate faction, represented by Yang Zhiyuan and David Ferro, all hope for long-term operations and ignore short-term profits; more shareholders and directors are representatives of capital, and they all hope to get money as soon as possible.

This is why Yang Zhiyuan's shameless "dividend" operation will be very effective.

When dividends are paid, major shareholders get the money.

For those fund managers who represent the interests of the capital, if they get the dividends from Yahoo, they will get the income of the investment fund this year, and they will be able to get a good dividend income by the end of the year. Only then can they reach a compromise with Yang Zhiyuan.

Zhou Buqi said: "The operation of dividends is really shameless, it is simply kneeling down to capital."

Boss Ma smiled and said: "But in order not to lose control of Yahoo, Yang Zhiyuan can only do this, otherwise he may really be cleared from the board of directors. Once the founder is cleared from the board of directors, Yahoo will completely become a company owned by the board of directors. Private equity took control."

In this regard, Boss Ma was still a little complacent, with the air that my luck was in my favor, and he said eloquently: "If you want to pay dividends, first Yahoo must get enough money, either to raise funds, or to take out a loan, or to sell it. Some assets. Microsoft has come to raise funds, and it may give 50 billion US dollars at a time... It can be very demanding. Microsoft must have a say in the selection of Yahoo's new chairman and CEO. This is too harsh, and Yang Zhiyuan will not accept it .”

Zhou Buqi nodded, "It's impossible to get a loan. Even if you can get a loan, the interest rate will be sky high."

Boss Ma smiled and said: "Yes, so the only way left is to sell assets. The best way is to sell part of the shares of Yahoo Japan or Ali. Sun Zhengyi is now thinking about organizing a large The consortium, and then launched an overall acquisition of Yahoo, and had no intention of repurchasing part of Yahoo Japan's equity. This is Ali's opportunity! Of course, it is also your opportunity to fish in troubled waters and make money."

"Stop! Stop!" Zhou Buqi quickly stopped him, with a straight face, "Old Ma, I came all the way to help you, not to make money from you. Even if I make a little money, it's mine Hard work."

Boss Ma said angrily, "I didn't say you made money improperly!"

Zhou Buqi said: "I have to correct you, lest you misunderstand."

Boss Ma was too lazy to talk nonsense with this kid, so he suddenly smiled and said: "Speaking of which, you are also responsible for this! Well! From this point of view, it is destined for the two of us to cooperate in this matter, and we will give Sun Zhengyi together One set."

Zhou Buqi twitched the corners of his mouth, "Don't make trouble, Sun Zhengyi and I are gentlemen's friends. I never lie to him, just like I never lie to you."

Boss Ma pretended not to hear anything, and said, "A few years ago, you led the organization of a consortium, initiated more than a dozen acquisitions in Hollywood, and reorganized a large entertainment giant."

"Yes, Ziwei Star Global."

"I heard it's going to be listed?"

"Well, the plan is next year."

"This incident has greatly stimulated Sun Zhengyi. He has told me several times." Boss Ma actually admires this kid in his heart. He can even understand Hollywood. He is really a rare business genius. , "However, Sun Zhengyi also said a few bad things about you."

Zhou Buqi snorted, "He said bad things about me? I think you are going to say bad things about me, right?"

Boss Ma smiled and said: "No, it's really what Sun Zhengyi said. He said that when you organized the consortium and established Ziwei Star Global through a series of operations, Softbank actually contributed the most. But you are a trader, and the power lies in You, so you have gained a lot of benefits from it, the distribution of shares and the distribution of investment are completely unequal, and there is nothing he can do about it."

This is the truth.

Too much money is useless, and whoever holds the power has the final say. Zhou Buqi did squeeze out a large part of SoftBank's interests when he was dealing with the "Ziweixing Global" case.

However, Zhou Buqi could not admit, "Nothing, what I care most about in business is fairness and equality. I am different from you, and I did not infringe on the interests of Softbank. Bring tens of billions of dollars in benefits. No matter in any field, as long as it is my partner, I would rather suffer losses than let the interests of partners be damaged.”

Ziwei Star Universal is now the number one giant in Hollywood, especially Zhou Buqi's plan for a series of "four elements" blockbusters in the new era.

The currently launched Marvel series has already shocked Hollywood.

Next, there will be a series of blockbuster sequels such as "Fast and Furious", "Twilight", "The Hunger Games", "Star Wars", "Jurassic Park", "007", "Despicable Me", "Kung Fu Panda" and so on. show.

In the current market environment, after the listing of Ziwei Star Global, the market value can easily exceed 1000 billion U.S. dollars, and many investment banks give a valuation of 1200 billion U.S. dollars.

After listing, SoftBank's shareholding will be diluted to less than 50%, and Zhou Buqi will completely dominate the company in terms of power structure.

But no matter how much Zhou Buqi made, Softbank did make a lot of money in this case.

At the beginning, it invested more than 200 billion U.S. dollars. With the listing of the company, the value of this share will exceed 600 billion U.S. dollars.

It is also because of this that Zhou Buqi spoke very hard to Sun Zhengyi.

She said she wanted a brand new luxury yacht that had just been launched, and she wanted it; Sister Zhenyu wanted to fly around the world, and asked Softbank to match her with a Challenger 300 private jet, purchase, decoration and future Operations, maintenance, and crew costs will all be borne by Softbank.

Boss Ma smiled and said: "Anyway, Ziwei Star Global has a great influence on Masayoshi Son, so this time we set up a consortium to acquire Yahoo, and he has learned his lesson, and he actively wants to be the trader. "

"I see!"

Zhou Buqi couldn't laugh or cry.

Boss Ma said: "So, this time we cooperated to tease Sun Zhengyi. In fact, you did it first. You have already prepared the groundwork through Ziwei Star Global."

Zhou Buqi said angrily: "Don't let me take the blame!"

After chatting with Yang Zhiyuan last night, Boss Ma felt that his plan was basically sure, and he was in a good mood, "That's the truth."

Zhou Buqi glanced at him, "Are you in a good mood?"

Boss Ma smiled and said: "It's okay, this matter is basically done, unless Yang Zhiyuan's side is too out of the chain, and he is really kicked out of the board of directors by the management."

Zhou Buqi fell into silence.

"Huh?" Boss Ma finally saw that something was wrong with him, "Speak up if you have something to say!"

Zhou Buqi's eyes were deep, and he said meaningfully: "From the perspective of making money, dealing with managers of those private equity funds is much easier than dealing with entrepreneurs. When dealing with capitalists, you only need to talk about money and interests. Dealing with entrepreneurs has to do with the company’s future development, growth potential, etc., and it will be very complicated.”

Boss Ma didn't quite understand what he meant, and said: "It's normal, but now that Zhiyuan Yang is in a state of distress, it will be easier to deal with this matter. Let's take back part of Yahoo's shares in Ali, and Zhiyuan Yang will get the money and let him continue Toss Yahoo."

Zhou Buqi went straight to the point, "Why do you have to put your hope on Yang Zhiyuan?"

"what?"

Boss Ma's expression changed suddenly.

Zhou Buqi said indifferently: "Have you considered a new possibility, if Yang Zhiyuan is really kicked out of Yahoo's board of directors, maybe it will be more in line with our interests!"

(End of this chapter)