Reinventing the Millennium

An executive who serves as a senior vice president at one of the best fabs in the country but whose name is still hard to say...

Is it that obvious?

Fang Zhuo was a little confused by Connor's reaction.

Is it because Qiu Ciyun has a reputation for talent or is the work disagreement at SMIC already spreading among small circles?

Fang Zhuo was not surprised that Connor knew about Qiu Ciyun. After all, the main task before him before meeting him should be related to SMIC, which was to invest money in the most powerful wafer fab in the country.

Now, he should be able to think about the project that suddenly popped up in front of him.

"Mr. Fang, you suddenly want to do a semiconductor project. Why?" Connor was still confused after reading the materials in his hand in detail.

He knew that Fang Zhuo, the richest man in Shanghai, was said to be very powerful in this city. He also knew that his field was the Internet and music players... so it was really unusual to cross industries like this.

A project has a budget of tens of billions. Some links are like the branches of a tree, which must be understood, while some are just loose leaves, so don't worry too much.

A founder’s motivations, ideas, and internal driving forces are the branches that must be seen clearly.

Otherwise, if this is just a whim of a rich man, many people will cry over the last bit of chicken feathers.

After all, many rich people are indeed crazy.

Fang Zhuo also understands this and knows the considerations of investors, and he has always looked at problems from the other side's perspective.

In fact, the application of the three philosophical questions is quite appropriate in this scenario.

Where it comes from – the motivation to do the project.

Where to go - the goal of this project.

Who am I - the current status of the project.

Fang Zhuo has to answer this question now.

Like Mr. Zhang Rujing, he has called for the revitalization of domestic industries. That is no problem, and the world will follow.

But now when I face inquiries from investors, I have to give a reason for them to pay, so that they believe it, not my own feelings.

——Actually, my dad also asked me about building a factory...

The beginning of a story came to Fang Zhuo's mind, but he said fluently: "Because it can make money."

At this moment, he and DCM China have the same position - they can make money.

"In the past two years, the global semiconductor industry was in recession, but since last year, the industry has experienced a cyclical recovery, and I think the cycle time of this wave is not short."

"Connor, you just mentioned Yike, but I'm not sure if you know the trend of consumer electronics. It is affected by the long-tail effect of the Internet and will have strong demand for a long time in the future. This also includes Contains semiconductors.”

"Moreover, now we have SMIC as a role model, and domestic policies are very favorable. It has proven by example that the time from establishment to listing of a semiconductor company can be reduced to three years."

At this moment, his and DCM China's expectations were the same - to be listed on the market.

"Connor, apart from these considerations, I am actually a person who likes challenges. From medical science to Yike, and from Yike to Sina, I am very fascinated by the challenge of this dance between capital and technology."

At this moment, he and Mr. Connor, the head of DCM China, have the same preferences - the education this Chinese-American has received since childhood should be about adventure, challenge, freedom and the like.

Fang Zhuo smiled and said: "Connor, I want to create another SMIC. There is a rich list in the mainland. I am ranked ninth this year. Maybe this project can make me number one next year or the year after."

You see, the richest man in Shanghai wants to challenge the industry opportunity that will make him the richest man in China.

It may be a bit exaggerated for Fang Zhuo to say that he has been tempered to the venture capital, but an experienced person cannot run away.

He felt that he should be on the same communication channel as DCM Connor.

However……

Fang Zhuo saw Connor's frown and was a little surprised. What was wrong with his explanation?

Connor digested it for a while and asked a question: "What is the long tail effect?"

Fang Zhuo: "?"

piece of cake!

Fang Zhuo didn't know when this theory appeared, but judging from Connor's reaction, it was probably not long ago.

He smiled: "A very simple description, with the development of the Internet, many niche needs have contributed to a huge market."

Connor seriously questioned: "Has this been verified? It sounds completely contrary to the 28th theory."

"The 28/20 theory has a wide range of adaptability, and this is more in the Internet field." Fang Zhuo discussed the theory with the venture capitalist in a good-natured manner, "Connor, have you used our Yike products?"

Connor nodded.

Fang Zhuo asked again: "What about the music payment function?"

"I have used both your iMusic and Apple's iTunes." Connor is an investor who pays attention to new trends and new things.

"It's very clear when we use music as an example. In our payment data, those songs that are not popular have contributed more value than we expected. Can you believe it? Just after we launched the iMusic music payment function, 98% of All the song albums have been listened to, but some albums are quite unpopular and niche." Fang Zhuo is supported by examples.

He added, "You can also verify it with Amazon. They estimate that 30-40% of book sales come from non-best-sellers. This is even more obvious."

Connor was stunned for a moment. Mr. Fang, who was talking eloquently, looked extremely confident. Only at this time did people think of the impact of his M1+iMusic on the music industry.

Previously, Connor once said that it would take five minutes to decide to invest in Yike. This was actually not a compliment. He had studied the online music models of Yike and Apple with great interest in DCM in the United States, and was very optimistic about its further incarnation as a trend.

He thinks this can support a very good consumer electronics and music market.

One of the interesting things is that Yike's collaborator Sony is still swinging with the afterglow of the previous era.

Thinking of this, Connor asked a question with great interest: "Mr. Fang, I know that Yike has a copyright cooperation with Sony in the United States. How do you think Sony can get out of their predicament now?"

Fang Zhuo saw that the topic was getting further and further away, but he did not refuse the scoring question and said with a smile: "It's very simple."

Connor was intrigued. Sony's plight had been widely discussed recently. Things were dire for the global giant.

Fang Zhuo took a sip of tea leisurely and said, "Asking me to be the president of Sony will solve this dilemma."

Connor burst out laughing in surprise, and returned his attention to the topic, joking: "Mr. Fang needs to attract talents to do projects, and this humor alone can make them fall in love."

Fang Zhuo shrugged: "I'm serious, this is the fastest way for them to get out of the predicament."

Connor laughed again, he liked this tasteful joke.

"Mr. Fang, I believe you are a leader who has enough restraint in the use of capital and has the ability to acquire many talents."

"As for your 'ice drink project', I am personally very optimistic about it, but for us at DCM..."

Fang Zhuo frowned slightly, this turn of events was particularly unpleasant.

Connor smiled and joked: "For us at DCM, we should remain cautiously optimistic."

Fang Zhuo repeated: "Prudently optimistic?"

"We are willing to approach the first round of financing for this project. Let's talk about it." Connor said sternly, "At least Mr. Qiu must really join in this negotiation. Otherwise, even if the other party has confidence, the wafer How can the factory progress without technical leadership?”

Fang Zhuo nodded, that's okay. If you are an investor, you must see the technology implemented first, and funds come second.

He thought for two seconds and expressed his position: "I will push this matter further to let Mr. Qiu really devote himself to the project."

Connor became more and more convinced that Fang Zhuo really wanted to build a wafer fab, and felt that this mainland tycoon was quite charming - not the kind of money-making charm, but the kind of cutting-edge and vigorous personality charm.

"However, Mr. Fang, is there still room for discussion regarding the choice of Luzhou?" Connor mentioned an unsatisfactory point.

Fang Zhuo replied: "Luzhou's choice has other uses. It is about both technology and the market. As for this aspect, we can discuss it again when we can all sit in the conference room."

When Connor heard this, he didn't ask any more questions. Anyway, if he had objections then, he would just vote if he didn't.

The two continued to chat about the project direction, and the more they chatted, the more Connor could discover Fang Zhuo's adequate preparations.

"To be honest, Mr. Fang has extraordinary courage to enter the semiconductor industry."

"Before I came here, I heard some friends in Shanghai talk about Mr. Fang and asked me to pay attention to Mr. Fang, a venture capital hunter."

Connor ended the day with a joke.

Fang Zhuo said nonchalantly: "Who among the real investors believes this?"

Connor nodded repeatedly. This kind of industry anecdote is quite interesting as a conversation piece.

"Connor, I will continue to advance this project and hope to have formal discussions with DCM next time." Fang Zhuo and the real investor from the United States expressed their stance.

Connor was very happy to chat today, shook hands and said: "Looking forward to this day."

Fang Zhuo personally sent Connor, the head of DCM China, to leave the company.

When he returned to the president's office, he carefully wrote notes on the document concisely and comprehensively.

——DCM, Connor, real investors, raised $100 million.

In the next few days, Fang Zhuo met with Goldman Sachs and Deutsche Bank respectively.

Both of these are SMIC’s Series A financing institutions.

How can I put it...

This kind of contact could not be concealed from Zhang Rujing, the head of SMIC. Goldman Sachs and Deutsche Bank even reported the situation to President Zhang after they met with Fang Zhuo and changed hands.

Zhang Rujing even knew some real details of the negotiations.

For example, Fang Zhuo is willing to use executives recommended by Goldman Sachs to serve as CFO and fully promote Yike's listing plan.

For example, Fangzhuo promised Deutsche Bank that it could help them open up the domestic business market.

Zhang Rujing knows that Deutsche Bank is ready to expand its presence in China. In fact, Deutsche Bank's Asia Pacific general manager Zhang Hongli is the former chief representative of Goldman Sachs China, and he has been determined to make progress since he changed jobs.

However, Goldman Sachs and Deutsche Bank did not just decide to reject the project from the richest man in Shanghai. Their announcement was to ask Zhang Rujing for his opinion.

Is there anyone in mainland China who knows more about fab projects than Zhang Rujing?

Therefore, even such a project that may become a competitor of SMIC was still used to consult Zhang Rujing's opinion.

"Haha, you ask me if this can be done..."

"Fang Zhuo is obviously capable, he is a character."

Zhang Rujing made a general comment, but still found it funny: "You really shouldn't ask me about this project."

Zhang Hongli, formerly of Goldman Sachs and now Deutsche Bank, said naturally: "I think it's more appropriate to ask you. After all, you are familiar with Qiu Ciyun. Can he support such a project?"

Zhang Rujing felt that he heard wrongly: "Mr. Qiu?"

Zhang Hongli: "?"

Zhang Rujing: "!"

Zhang Hongli left, and he realized that there might be some errors in what he understood.

Zhang Rujing was shocked and angry. He stormed into Qiu Ciyun's office aggressively and asked face to face: "Mr. Qiu, are you leaving?!"

Qiu Ciyun looked at the president of SMIC and was silent for a while: "I have been thinking about how to tell you these days."

"Okay, if the shareholders hadn't come over to ask me, would I have waited until you and Fang Zhuo started SMIC to find out?" Zhang Rujing smiled angrily, "How can I be sorry for you? What kind of illusion did that man named Fang fill you with?" Soul medicine?"

Qiu Ciyun sighed and said: "Without Fang Zhuo and Liu Zhuo, some of our differences in work didn't happen overnight. To be honest, Fang Zhuo had foreign factories poaching me before."

"Differences, differences, you said they are differences, what can't be resolved?" Zhang Rujing was very sad.

Qiu Ciyun looked at Zhang Rujing and asked, "Can it be solved?"

Zhang Rujing found it difficult to answer.

Qiu Ciyun shook his head: "If you don't want me to stay in China, I can go to Singapore."

I have been in contact with a wafer fab in Singapore for a long time.

Zhang Rujing looked at this colleague who came to Shanghai from Baodao and became a partner in SMIC from scratch, and said: "Zhang Hongli asked me if you and Fang Zhuo can make it happen."

Qiu Ciyun remained silent.

"I said, in the whole mainland, I am ranked first, Qiu Ciyun is ranked second, I am ranked second, and Qiu Ciyun is ranked first." Zhang Rujing slapped his hand on the desk, "Do you really want to go to Luzhou with Fang Zhuo? How can you go to Luzhou to build a factory!"

Qiu Ciyun showed a smile: "Mr. Zhang, you see, this is the difference between you and me."

Zhang Rujing shook his head, turned around and walked out, cursing as he walked: "What a Fang Zhuo! You came to SMIC for my vice president! This matter is not over yet!"

Qiu Ciyun listened to the slamming of the door, lowered his head and continued to complete his last work at SMIC.

…

Fang Zhuo received a call from his highly respected senior Zhang Rujing at the Yike executive meeting.

Just after I introduced the listed financial director recommended by Goldman Sachs to my colleagues, my phone vibrated non-stop.

Fang Zhuo answered the phone when he saw the number.

"Fang Zhuo! You are so smart!"

"Fang Zhuo, you are so scheming!"

"Fang Zhuo! You dug people to find me!"

The conference room became quiet as the boss moved, and the executives in the front row heard an angry roar.

Fang Zhuo couldn't help but move the phone farther away, and waited for the other party to vent his emotions before he defended: "Mr. Zhang, he did it voluntarily."

Who can force a top talent to switch jobs?

Unless there is someone here who can count.

Zhang Rujing was hurt by this sentence.

He threatened with blessing: "I want to see what you can come up with!"

"Mr. Zhang must taste it." Fang Zhuo said with enthusiasm, words that seemed eccentric but actually very sincere.

He felt that one day his fellow travelers would understand each other.

I got a daughter late at night and added new skills such as breastfeeding, burping, and coaxing.

I have to stay in the hospital for a few more days, and if there are any mistakes or omissions in the information, I can go home and correct them.