Traveling through the sword to engage in military industry.

"Mr. Richardson, if our survey data is correct, in 1949, there were only 100 million television sets in North America. But today, in just a few years, we have reached more than 2000 million sets. We predict that by the end of the 50s, there will be no doubt that the number will exceed 4000 million sets. If we expand it to the global market, there will be no problem for the annual increase in television sets to reach 1000 million sets. In the next eight years of the 50s, this increase will be at least 8 million sets.

If each TV is priced at 800 US dollars, this is a 640 billion US dollar market, right? In fact, with the improvement of people's living standards and the development of TV technology, the price of TV will increase further in the future. In the past few years, the price of black and white TVs started at 200 US dollars, and today our color TVs can be sold for more than 1000 US dollars. With the development of technology, TVs will become larger and better, and the price will rise steadily from the current level.

This is the terminal market. Cable TV is the main form of television in North America. The initial installation fee for cable TV per household is now US$125. This $50 billion is not a small amount. Add to that the $5 monthly subscription fee, which is $60 a year. In the next ten years, each household will spend $600. The North American market with 4000 million users alone will cost $240 billion. This does not include the European market, which has at least 2000 million users, so the market will cost at least $100 billion.”

"These are just a few areas of rigid demand income, and the income exceeds 100 billion yuan. In the television industry, there is also the content service sector, which will be the real big part of the television industry in the future, and the television industry will be the mainstream of the future media industry.

As television sets become more popular, our video recorder business will also become more popular with television sets. In this regard, we have an absolute technological advantage, at least 10 years ahead. In a few years, we will be able to achieve a scale of at least several dozen in this business.”

在主世界的历史时空中，1950年到1970年和1980年流氓鹰的电视台由106座扩大到876座和1020座，电视机从1949年的100万台到1960年的4000万台、1970年的8600万台、1980年的15000万和90年代的28000万台。

Others may not know the development history, but Ren Zhong can find information about their development.

In this time and space, the development of science and technology is a little faster than before. Due to Ren Zhong's interference, color televisions also appeared ahead of time. Therefore, the development of the television industry is even faster than in the original time and space. If Ma Zhiyuan can use the tricks given to him by Ren Zhong in the field of content services, then the development speed of this industry will also be faster than in the original time and space.

"Can the account be calculated this way?" Richardson felt that it was a little difficult to understand, but it also made sense. This illusion made him feel very disconnected. But he also saw Ma Zhiyuan's ambition.

"Mr. Ma, are you planning to develop the TV industry chain in an all-round way?"

This is an important question and Richardson needs to get a positive answer.

"No, I only do hardware." Ma Zhiyuan shook his head. Although he wanted to do the entire industry chain, he knew that it was impossible at least in North America because the media was much more sensitive than hardware.

It cannot be in the hands of one person.

But as a leader in hardware, it should be normal to support a media company.

"Vision will be committed to the innovative development of the TV media hardware industry chain. We want to be the leader in TV media hardware."

"But these are all imaginary. To be honest, we are very confident that our annual sales will reach or even exceed 5 billion in the next five years. Therefore, in terms of valuation, our Series A valuation is expected to be 100 billion US dollars."

Ma Zhiyuan quoted his price.

If this price had been offered before, Richardson would have turned around and left.

But now, after listening to some of Ma Zhiyuan's plans and intentions, Richardson just thinks it's too high. Vision's current sales volume certainly can't support a valuation of tens of billions, but the development of this industry is indeed very fierce. Just as Ma Zhiyuan said, the growth rate is more than three digits, and it is the golden age to enter this industry.

Although Richardson's psychological price before he came was between 30 billion and 50 billion dollars, it has now more than doubled, which seems a bit expensive. However, in terms of technology, Richardson has conducted detailed research on TV industry giants such as Philips and confirmed that they are still in the exploratory stage of color TVs. Although there are other companies researching color TVs and have some samples, their picture quality, sound quality, appearance and size are not as mature as Vision.

Vision's televisions were able to sell 50 units at a high price in more than a year because of their unique technological advantages. They have truly connected all hardware equipment from the content end to the terminal, and realized the complete color TV industry chain in North America.

Although the number of backend devices is not large, only a few dozen sets, these devices have a huge impact on the terminals. Even in areas where black-and-white televisions are the main players, the backend servers are beginning to be updated to color television playback devices.

Richardson knew that this technology was extraordinary in this era.

He didn't know why Ma Zhiyuan developed such a complete technology in such a short time, it was like he was cheating.

However, Rogue Eagle is not short of inventive geniuses. There was Edison before and Ma Zhiyuan after, so it is not surprising.

"Mr. Ma, can we discuss the price? We are sincere, and as the lead investor, we can also play a big role in promoting the company's listing. We have extraordinary influence on Wall Street," said Richardson.

It is normal to ask for a high price and then pay it back on the spot.

Besides, what Richardson said makes sense. If Trend Fund wants to go public with the help of Wall Street, its resources are indeed very strong.

"Mr. Richardson, this is a very sincere offer. If we go public in another year, I think the valuation will increase." Ma Zhiyuan was not panicked at all. "In terms of equity design, we will implement the AB share system. The original shareholders have three voting rights for each share. If you are the lead investor now, we will give you A shares and a director position with full voting rights and dividend rights. Starting from the B round of financing, we will only release B shares, and each share will have only one voting right. In addition, our financing quota will be fully used to increase the company's capital and expand its shares, and the founding shareholders will not cash out."

"We will release a maximum of 10% in the A round of financing, and the same is true for the B round. We will release another 30% for the IPO financing. In this way, when we go public, we will release more than 36% of public shares. My own shareholding will be reduced to about 51%, and the shareholding of another founding shareholder will be reduced to about 13%, which is in line with the regulatory requirements of public companies."

Richardson frowned when he heard Ma Zhiyuan's plan. Not only was the price high, but he and the capital behind him would not be able to get much original chips.

The design of AB shares also shows that Ma Zhiyuan is not a financial rookie. Even if he has less than 51% of the shares left in the end, he still holds the majority of voting rights at 63.6%, which gives him a firm grasp on the future control of the company.

"Mr. Ma, you have too many restrictions," Richardson said. "We have too few opportunities to participate."

"Mr. Richardson, Vision is my hard work, I think you can understand that." Ma Zhiyuan smiled and said, "We can only release so much of Vision, but for the sales of TVs, we will set up a separate sales company. If Richardson is interested, we can work closely with Trend Fund on the sales company. I believe Mr. Richardson will be satisfied with the profit sharing."

After this period of business experience, Ma Zhiyuan realized that establishing a global channel is not an easy task. In fact, a large part of the financing funds will be used for channel construction and branch factory construction.

At present, we must at least cover the two major markets of North America and Europe, and then expand to other parts of the world as needed in the future. (End of this chapter)