My Age of Investment

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"Dude, are you kidding me?"

Xia Jingxing smiled, and looked at Blankfein with an exaggerated expression.

Blankfein's expression did not change at all, he leaned against the back of the chair behind him, touched the top of his shiny head in a natural movement, and said slowly: "Facebook is a good company, there is no doubt about it.

And we, Goldman Sachs, must be a good partner.

The cooperation between the two parties can create greater economic value, which is a good thing for both of us, and it is a win-win situation in the true sense. "

Xia Jingxing understood Blankfein's subtext, and the premise of cooperation was to release enough benefits to Goldman Sachs.

But Goldman Sachs is not the only investment bank on Wall Street. The boss, Goldman Sachs, does not invest, and the second brother, Morgan Sachs, is a substitute?

Facebook's current financing environment is completely a seller's market, and there is no shortage of sought-after buyers.

So Xia Jingxing answered quite forcefully.

"Facebook does not lack investors now. Our criteria for selecting investors is to measure whether investors can bring sufficient additional value to Facebook."

Blankfein chuckled. Over the years he joined Goldman Sachs, they basically picked their partners, and it was rare for them to pick and choose their partners.

But there are no exceptions, as long as the benefits are attractive enough, the partner is God.

In his view, Facebook is a high-quality potential stock that cannot be missed, and it is worth making an exception.

"Daren, do you think Goldman Sachs can't bring enough additional value to Facebook?"

Xia Jingxing shrugged, "I only see that there is enough money, 2 billion US dollars, which is enough for us to buy some bank wealth management products."

"Hehe~, Darren, you are really humorous."

Blankfein understood, the young man in front of him thought he had too much money.

Not all entrepreneurs hope that the more money they raise, the better. The more money they get, the greater the responsibility and pressure they will bear.

Xia Jingxing was not afraid of responsibility and pressure. He was afraid that he would not be able to spend the money if he raised too much money. Not to mention that the value of the financing would not be reflected, and he would dilute the shares in vain. This is not worthwhile.

Facebook has developed to this day, and it is not far from a complete entrepreneurial success, and the value of its equity is becoming more and more precious.

The financing path he originally designed for Facebook was to run in small steps, with a smaller amount of financing in each round and a faster pace.

This is a plan that takes tubing into account.

Now that YouTube has been spun off and independently financed and developed, the plan needs to be changed.

After getting rid of the heavy burden of the oil pipeline, the financial department has done calculations, and in one to two years, Facebook will be able to reach breakeven.

Calculating the time, Facebook has been established for four full years, and it will take another one or two years to make a profit, which is considered too late.

After pondering for a moment, Blankfein said, "Daren, how about this? We have an initial investment of 500 million U.S. dollars, but you give us a stock option. In the future, we have the right to be valued at 24 billion U.S. dollars. Fundamentals, priority investment in Facebook."

Xia Jingxing was slightly startled, and quickly guessed Blankfein's true intentions.

"Lauer, you want to sell Goldman Sachs' high-net-worth clients a stake in Facebook?"

Blankfein felt that he had underestimated the young man in front of him, and guessed his thoughts so quickly.

"Yes, Darren, I'm not going to hide it from you, I plan to take $500 million of the company's own funds to invest in Facebook.

In addition, to set up a special investment fund with a scale of US$1.5 billion, only high-net-worth brokerage clients with an account at Goldman Sachs and assets of more than US$10 million can participate in the subscription.

This special investment fund arranged for half a year or one year before Facebook's official IPO, to make a sudden investment in Facebook and lock it for two years at the same time.

This is also beneficial to Facebook’s listing. Goldman Sachs’ high-net-worth clients are all elites in the United States and around the world. They control the right to speak and will cheer for Facebook’s listing…”

How could Xia Jingxing be fooled by Blankfein's words.

Goldman Sachs' own funds can be borrowed from the Federal Reserve at almost zero cost, and any investment can be profitable.

Special investment funds are even worse.

Xia Jingxing does not believe that Goldman Sachs will directly come to "repay big customers" in a wave, and will definitely sell "Facebook equity purchase share" with other financial products mainly promoted by Goldman Sachs.

For example, if you buy a $1 million junk bond, you will be provided with a $1 million subscription share for Facebook shares.

Junk bonds have made a lot of money, and this $1.5 billion special investment fund investing in Facebook also charges management fees, subscription fees, and profit sharing.

Really eat more than one fish!

It's not over yet.

The client thought he had found a bargain, but he didn't know that he might be a Goldman Sachs receiver.

Don’t forget, Goldman Sachs has also invested 500 million US dollars of its own funds. If the follow-up development of Facebook is not satisfactory, Goldman Sachs can also transfer its Facebook equity to a special investment fund through the primary market.

Assuming that Facebook's situation is ideal and it goes public normally, Goldman Sachs can also cash out ahead of the special investment fund because of the two-year lock-up period. It's none of their business if the stock price plummets or something.

Here we can see the cunning of Goldman Sachs. On the surface, it invested 500 million US dollars in Facebook with a lot of arrogance, but secretly laid a safety mat, and it will not mess up no matter how you play.

If customers lose money, they can't blame them. If they make money, they should remember Goldman Sachs and give Goldman Sachs money.

Xia Jingxing just wanted to applaud Blankfein at this moment, it's wonderful, it's really wonderful! Truly do all the tricks, worthy of the name of "advanced financial profit-seeking missile".

"According to SEC regulations, companies with 500 or more shareholders must disclose information about their financial status to the public to protect the interests of investors."

As soon as Xia Jingxing finished speaking, Blankfein waved his hands indifferently, "Daren, you are too careful, no matter how many LPs the special investment fund has, when calculating the number of Facebook shareholders, it only counts a shareholder."

Xia Jingxing nodded, "I know this, but if you make too much noise, the SEC will definitely investigate."

"Daren, don't worry, if the SEC comes to pursue responsibility, Goldman Sachs will bear it all."

Afraid that Xia Jingxing would not believe it, Blankfein looked at Gates who was smiling and said nothing, "Please Mr. Gates to be a witness, I can guarantee my reputation, if something goes wrong, Goldman Sachs will be responsible for it , we do what we say.”

Gates smiled and didn't speak. Like Xia Jingxing, he also had a deep insight into the tricks of these investment bankers. In pursuit of profit, he can use any means.

Colluding with Party A, defrauding customers, and deceiving regulatory agencies...it's too commonplace.

So this is also the reason why he formed Waterfall Investment to manage the family assets. People outside really can't believe it.

"Daren, Goldman Sachs is very honest with true friends, so I haven't hidden anything from you. I hope everyone can build enough trust."

Blankfein looked at Xia Jingxing with a smile on his face, looking very open-minded.

However, Xia Jingxing didn't even believe a single punctuation mark. The reason why the other party told him so much was because there were many things that he couldn't hide, so he might as well be more honest.

"Okay, Lauder, since you are so sincere, then I agree to your plan."

Xia Jingxing looked at Blankfein with a smile, and said, "Besides, I have a single business, and I plan to cooperate with Goldman Sachs."

Hearing that Xia Jingxing agreed to his proposal, Blankfein was very happy, waved his hand, and asked, "Daren, what kind of cooperation do you want to carry out?"

"You know Vision Capital, right?"

Blankfein shrugged, "Of course I know! This is the alternative asset management company you established. Speaking of which, the yield rate of your hedge funds is a bit scary. Even I want to purchase some fund shares."

Xia Jingxing smiled, "Okay, there will be a chance to apply for the purchase later. I want to cooperate with Goldman Sachs, which is also a hedge fund. Vision Capital intends to entrust Goldman Sachs to help us design and sell a product."

"What product?"

"Security Debt Obligation Document."

Blankfein frowned, a little puzzled, and then his face returned to normal.

"Okay, a vice president in our department has been researching this product recently, maybe you can sit down and chat."

Xia Jingxing nodded. Since Gates was present, he did not discuss in detail.

Blankfein was also a smart person, so he didn't ask too many questions, and naturally shifted the topic back to Facebook.

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