Reinventing the Millennium

The weather in Silicon Valley is nice in June.

When Fang Zhuo arrived here and started preparing for the press conference of this generation of Yike Mars, he soon received concern from his friends.

Google, T-Mobile, Deutsche Telekom, Amazon and other parties have sent greetings.

From June last year to June this year, if Nokia is still the well-deserved overlord of mobile phones, Yike has become the most shining dark horse in the industry with its Mars, which has stirred up interests in all aspects.

Let’s talk about the “iron triangle”. Google’s Schmidt and T-Mobile’s Legere are the most enthusiastic and concerned.

Many times, Fang Zhuo had the illusion of Schmidt, thinking that he was a person who was doing business honestly like himself. Especially, after listening to some nagging content on the phone, he felt that this man was indeed in his fifties. Year old man.

Schmidt has been very busy recently, busy driving Google to look for mobile phone-related patents, trying to buy a batch of patent pools for the Android camp.

As Yike and LG start to fight, he increasingly wants to strengthen the PRO Alliance for free cross-patent licensing.

Unfortunately, there are no good goals on the market at all.

At a time when the mobile phone industry is undergoing changes, major mobile phone manufacturers are holding on to patents very tightly. Samsung, for example, is not even willing to join the PRO Alliance, let alone sell patents. It only licenses each other separately with Yike.

"Mr. Fang, although Yike has been entangled with LG recently, we must be wary of Nokia." Schmidt had a long phone call, and the topic at the end was the Finnish giant, which is eyeing it.

Fang Zhuo also had to admit: "Yes, Nokia puts a lot of pressure on me."

"Nokia's patent licensing is a big issue. I think everyone can sit down and talk about it." Schmidt knew that Mr. Fang would be aware of the danger without saying too much. "I plan to fly to Europe next month to see what's going on." Let’s see if we can mediate.”

Fang Zhuo pondered, that’s fine, it’s best for everyone to develop peacefully.

He asked one thing: "I heard from Steve Jobs that Nokia and Apple failed to reach a licensing agreement. Is there any new progress now?"

The former Apple director replied: "No, it's a problem for Apple as well."

Schmidt was afraid that this information would mislead Mr. Fang, and immediately said: "But Apple and Yike are different, and Nokia's policies for the two companies may be different."

He also took LG as an example: "Just like LG, I think it has two very clear attitudes when it sues Apple and Yike."

For the same thing, Yike Company always attracts more hatred.

Fang Zhuo sometimes doubts himself. Is it his own problem?

But he is always quick and determined that it is not himself who is wrong.

"Communication with Nokia requires the efforts of respected people like you." Fang Zhuo thanked Teacher Shi for his help, "I hope you can bring good news, but Nokia may also wait and see what happens after its new phone is released. how."

Nokia’s new phone has not been released, Sony Ericsson’s new phone has not been released, and Samsung’s new phone has not been released.

A lot depends on how the market changes.

Schmidt also recognized this, but was still willing to do his best to help Yi Ke.

After all, Mars is now the leader of Android.

Compared to Schmidt, Legere represents T-Mobile and even Deutsche Telekom, and his attitude is even more approachable and happy.

For operators, starting from December last year, that is, within half a year, a stunning product brought amazing changes to the 3G business.

Legere did not know the situation at the European headquarters. He only knew that in the US market, T-Mobile added 3.2 million Mars users, of which 54% of Mars buyers were new users.

In other words, T-Mobile stole 1.73 million customers from other operators.

To break it down a little more, 1.28 million of these 1.73 million miles come from the operator Verizon.

Before the launch of Mars, rival Verizon surpassed T-Mobile in terms of new subscriber numbers many times. However, after December last year, T-Mobile firmly maintained its growth lead and continued to expand its advantage.

In addition to the increase in new Mars users, Mars has also expanded T-Mobile's mobile data business customer base from a side perspective, stimulating everyone's growing demand for mobile data.

All these things cannot help but make Legere obsessed with Yike and this year's new products.

Likewise, Legere noted the looming threat from Nokia.

"Mr. Fang, Nokia's affairs will be coordinated by the European headquarters, and Yike may pay a large sum of patent fees." He expressed his attitude on the phone, "We will solve this problem together, Yike and T-Mobile Stand on the same side.”

Fang Zhuo was greatly moved.

Look, look, so many people are working hard to solve the potential threat of Yike, so many people are trying every means to persuade Nokia!

If something happens by then, if you want to blame it, blame Nokia!

On the night when Fang Zhuo received the call from Legere, he met Kong Yu, a fund trader from the MIGA department who quietly flew to Silicon Valley and issued a one-year option call order for Yike stock.

Because of official matters and business lines, Fang Zhuo often flies back and forth. However, he feels that Kong Yu sometimes flies just for the sake of flying. Sometimes he is in New York when making contact, and flies to Paris the next day to report.

Kong Yu was under a lot of pressure and often lost his hair. In order to improve the situation, he shaved his head.

I'm still under a lot of pressure, but my hair really doesn't fall out anymore.

Kong Yu is familiar with the specific operations. After listening to the boss's ideas, he immediately knew where the biggest problem was - whether the ITC ban could be overturned. This variable was huge.

Others, such as option equity locked in financial derivatives, even if they come from major shareholders, are within the SEC's compliance framework and do not need to be disclosed, so they can be hidden.

In addition, to squeeze out the share of outstanding shares, the stock market now allows "naked short selling" short selling, including MIGA's short selling of Lehman, which is also the case in some cases. They do not borrow stocks but sell them directly on the market, as long as they buy again before the delivery date and the price falls. Just stocks.

This leaves room for a short squeeze, and the hidden call options will prevent short sellers from getting enough shares to deliver.

Kong Yu confirmed that a series of operations could be carried out, but he was not sure whether he could usher in a counterattack.

Xiao Ao's current situation is indeed surprisingly good, but even if he succeeds in taking over, it is still unknown whether he can use the money of his family to influence decisions. Once Xiao Ao gets too much benefit from short sellers, it is likely that he will Can't get the ideal situation.

Short sellers may not be able to find Xiao Ao. Will Xiao Ao take the initiative to send people to contact short sellers? Anyway, whoever makes money will make money.

Kong Yu had a lot to think about.

"This is also a no-brainer. It's just a precaution. Just like Mr. Yu told me, be prepared." Fang Zhuo believes that Mr. Kong has considered things very well. There are always many uncontrollable factors in things.

"However, Xiao Ao's reputation is also well known. It was very good in Illinois. He used money to do things, and now it's his own money."

"You're right, everyone's money is money. In this case, isn't it good to make money in a clean and innocent way through the program?"

The fund operations of the MIGA fund department are very complicated, and the money is traced around the world in a roundabout way. However, the investment from Xiao Ao has been upgraded to his family fund. Even if it is really detected, it is legal.

Of course, if you have to subjectively discredit his "Tongfang", then there is nothing anyone can do.

Kong Yu nodded, that's the truth. Risks are unavoidable, some are big or some are small.

"Since we can make money in both ways, we have to make the money we can earn both innocent and rich." Fang Zhuo didn't know why, but considering the defensive counterattack, his thinking was particularly clear.

Kong Yu thought for a long time and said sincerely: "I hope he can succeed in November and bring a new situation to the United States."

As he said this, he shook his head again: "If black people can be in power in the United States, wouldn't Indians be able to lead the United Kingdom?"

Fang Zhuo thought and replied: "The world is always more interesting than we expect."

Kong Yu thinks it makes sense. He has seen a lot of interesting things at MIGA Fund alone that he had never thought of.

The defense on Yike stock is temporarily over. Whether it can be used depends on whether those prerequisites can be realized.

However, Kong Yu's trip here was not only to accept President Fang's orders, but also to report on very important matters.

In the first half of this year, U.S. financial markets became increasingly volatile.

Citigroup lost nearly 10 billion U.S. dollars, Merrill Lynch lost nearly 10 billion U.S. dollars, the Federal Reserve lowered interest rates, UBS lost more than 10 billion U.S. dollars, the Federal Reserve lowered interest rates again, and Bear Stearns was acquired by **** due to insufficient liquidity and asset losses...

Kong Yu has been dazzled in the United States and Europe in the past six months. He once regretted that his boss was in China during this period. Otherwise, there would be too many things worth sharing, and there might be more opportunities to operate.

In addition to the big short Paulson, a considerable part of the MIGA fund department's funds are betting on Fannie Mae and Freddie Mac.

Facts have proved that such a bet was not wrong.

The share price of Fannie and Freddie has dropped from US$50 to the current US$30 mark, and there is still room for exploration.

However, the status of Fannie and Freddie is different after all, and there is even news that they may be taken over by the government. It is said that some administrative officials have informally denied such a possibility.

Today, Fannie and Freddie’s stock price remains at $30.

Kong Yu's heavy position has been leveraged, and he is worried about encountering unpredictable risks. This time he also asked Mr. Fang if he should stop. After all, he has made a lot of profits.

"Oh, this matter..."

Fang Zhuo has already taken a preliminary look at Kong Yu’s report: “The price of US$30 is still a bit high.”

In fact, Fannie and Freddie's share price once stabilized at around $70 for a long time, but now it is below the midpoint.

Seeing such historical highs and current stock prices, many investors rushed into the market to hunt for dips.

"Yes, this should still be at a relatively high level." Kong Yu replied, "The main reason is to consider the risks on the other side."

Fang Zhuo thought for a while and suddenly asked: "Are Geithner's funds with Paulson or with Fannie and Freddie?"

Kong Yu knew the elegant meaning of the song after hearing it, and said, "It's mainly in the two bedrooms."

"As I said just now, this is my own money after all." Fang Zhuo took out his infrequently used mobile phone and looked for the number of Geithner, the New York Governor of the Federal Reserve, and said, "I believe Geithner. Just like I believe in Xiao Ao.”

He called Geithner, whom he had not contacted for a long time.

Geithner has a high status in the Fed and is a busy man. He called twice before getting through.

After a brief exchange of greetings, Fang Zhuo said to Geithner worriedly: "The market is now turbulent, with insufficient liquidity and confidence. I am really afraid that important institutions like Fannie and Freddie will experience some instability."

Geithner was slightly silent.

Of course two houses are important, but that has nothing to do with you, a global rich man from the East.

However, this may have something to do with being a fund client like myself.

The fund income of the MIGA fund system is relatively transparent to specific customers.

To this day, even though the fund has not revealed its operating logic for more than a year, its gains from rising against the trend have proven a lot.

"We are paying close attention to the situation of Fannie Mae and Freddie Mac. Mr. Fang, your concern is right. They have a very important position." Geithner said after silence, "But we still have concerns about Fannie Mae and Freddie Mac." Confidence, confidence in the market, will continue to observe rather than act rashly.”

Fang Zhuo is concerned about the country and the people: "I really hope the financial market will get better soon."

He and Geithner talked for a few more words before ending the brief call.

Later, Fang Zhuo said to Kong Yu: "Go on, Geithner said they will not act rashly. It seems that it will definitely not be possible in the near future, but if the market and Fannie and Freddie have a worse situation, they will definitely take action."

Kong Yu opened his mouth, wondering whether the logic of this judgment deserves respect...

It seems quite worth it.

Fang Zhuo continued: "I will strengthen communication with Geithner and Rubin recently. We will keep in touch. I may need to learn how to play golf during this time."

He actually doesn't like golf at all.

Who would do something they don't like if they are not forced by life?

To say that I like it, I probably prefer basketball.

"This year, I may have to shout Xiao O's slogan again." Fang Zhuo said about sports, "There is no why not this year, only change we need."

This is Xiaoao's slogan. In response to today's economic situation, he shouted for change.

This year, the Rockets still stumbled into the finals. However, the ongoing competition has shown a one-sided situation. From the Trident to the Gemini, the team's strength is still declining, while the opponent Celtics have formed a Big Three. , powerful.

Therefore, the Rockets also need changes.

Fang Zhuo is not very concerned about the team's performance this year, and it was completely unexpected to reach this point.

The time was just right for me to communicate with Xiao Ao, who I hadn't seen for a long time, and to confirm the changes that everyone needed.

"President Gai is so... so good, I really have a lot more confidence in Xiao Ao's future." Kong Yu said tactfully.

Fang Zhuo nodded slightly. President Gai and Xiao Ao are very close. Their styles should be similar. It is always good to verify one first. It is always good to have more confidence.

"Come on, work hard, and stop after this one. I'm still not comfortable with the financial market." Fang Zhuo shook his head, "The risk is still too great."

Kong Yu took a breath. Indeed, Xiao Ao has not succeeded after all. After all, Geithner is just a New York governor. After all, Summers has retired. Paulson, Paulson... don't count this for now. ...the risk is indeed a bit high.

Stop after you finish this job, the financial market is not suitable for honest people.

This chapter says it should be recovering soon.