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"I want to join, but I don't want to choose the former and I don't want to choose the latter."

Teresa Roy answered Wen Ming's question, but she was not satisfied with Wen Ming's conditions and demands.

Because according to the valuation of 150 billion US dollars, the investment of 2.4 billion US dollars can only get 1.6% of the shares.

For any investor, this business is not cost-effective.

Most of the investors' investment before the company's listing is to wait until the company's listing to cash out to obtain sufficient profits. Of course, there are also reasons why the company chooses to hold shares in the company for a long time because of its strong profitability, and can receive dividends every year.

Therefore, when a company is not listed, it is difficult to have a valuation of more than 100 billion US dollars, not because there is no such company, but because it is difficult to guarantee cash-out profits after listing after the valuation reaches the level of 100 billion US dollars.

Due to the impact of the financial crisis in 2008, the company with the highest market value in the IT industry at this time was still Microsoft with a value of 300 billion US dollars, ranking third in the global market value.

However, the market value of IBM, the second largest in the IT industry, is only 171.9 billion US dollars, ranking 17th in the global market value.

Can Apple, which has only one iPhone, surpass the industry leader IBM in market value after listing?

Even if it can be surpassed, how much can it be surpassed?

At a valuation of 150 billion, even if the market value reaches Microsoft's 300 billion US dollars after listing, it will only double. Growth takes time.

"The valuation you quoted for me before was 100 billion U.S. dollars."

Teresa Roy's expression was very calm. It's normal for business negotiations to come and go, and it's impossible to turn the table over if there is a disagreement.

Wen Ming said with a smile: "The quotation of 100 billion US dollars is because the iPhone has not yet created a sales volume of 30 million units a year. If it can achieve this result, then I think it is worth 150 billion US dollars."

Regarding the shares of Apple, Wen Ming doesn't want to give them to others at all, because if Apple can develop smoothly, the shares are really valuable. Moreover, the increase in the number of shareholders will affect Wen Ming's control over Apple.

"The most important thing is that if our annual profit can meet the expectation, which is close to 6 billion US dollars, then 1.6% of the shares can get a dividend of 100 million US dollars."

When it comes to the future of Apple, Wen Ming has great confidence.

"The most important thing is that this is only the pure profit that the iPhone can generate. You know, I am very restless. In addition to the revenue in the software market, I want to launch other products."

Iphone is just the first product that Wen Ming copied in this world, and there will be ipad, Macbook and other products in the future. According to the extremely similar development levels of the two worlds, if the iphone can be successful, then other Apple products can also be successful. success.

Teresa Roy narrowed her eyes slightly, looked at Wen Ming and said, "If you can say that, it proves that you already have an idea for a new product. Can you tell me the general direction?"

Wen Ming didn't hide anything, and replied directly: "In my opinion, the iPhone has redefined the smart phone. Then, Apple's next plan is to fully upgrade the personal computer."

Teresa Roy fell silent. A genius who can independently develop an excellent product such as the iPhone within a few months, if he starts to concentrate on researching computer products, what kind of miracle can he create?

Just like what Wen Ming said before, Apple's current valuation is not based on the technology and products Apple owns, but on the brain of Wen Ming, a genius.

After a while, Teresa Roy said: "If you don't have cancer, then I can agree to your conditions now."

In other words, who can guarantee that you will live to the peak of Apple?

Wen Ming was expressionless for a moment. Although he had undergone a treatment operation, the operation was also very successful. However, what he had was pancreatic cancer, a type of cancer. After five years at most, it was God's favor to live one more day.

It stands to reason that a person in Teresa Roy's position should not directly expose Wenming's shortcoming, and it is the shortcoming that makes Wenming sad the most.

But during today's negotiation process, Teresa Roy was always led by the nose by Wen Ming, and the rhythm was always in Wen Ming's hands. If Teresa Roy doesn't disrupt Wen Ming's rhythm, then he will be convinced by Wen Ming soon.

Invest 2.4 billion US dollars to get 1.6% of the shares?

If the other party is not the current Microsoft, then Teresa Roy will definitely become a joke in Silicon Valley, and even in the eyes of investors all over the world.

"Yes, no one can guarantee that my cancer will not come back."

Wen Ming took a deep breath and said: "But it is precisely because of this threat that I can continuously compress my time and create products that even I find incredible."

"Mr Teresa Roy!"

Wen Ming's voice became emotional, and he said: "You said that if you don't gamble, then you have no chance to gamble. I think, I am the same as you, even less chance than you."

Teresa Roy rubbed her forehead, and after another moment of silence, she said, "I hope to make this decision two years later, that is to say, I won't ask for your 300 million dollars in interest, but , I need your promise."

After all, Teresa Roy still didn't have the courage to make such an "idiot" investment, but he was attracted by what Wen Ming said about launching new products. In his opinion, Wen Ming's time does not allow him to launch new products other than the iPhone after a year.

Therefore, he hopes to see the market response and profitability of new products before deciding whether to agree with Apple's $150 billion offer.

Wen Ming sighed in his heart, Teresa Roy's request really caught him, because in his plan, the development of ipad can already be put on the agenda.

The Ios system is common to iPhones and iPads, that is to say, Wen Ming only needs to make the hardware parameters required by the iPad, and then he can directly place an order for production. The most important thing is that some parts of ipad and iphone are common.

Such as core processors, gyroscopes and other components.

In other words, Wen Ming only needs a month at most to start producing ipads, provided he has enough funds.

Speaking of funds, he desperately needs Teresa Roy to help him solve the order of 8 million iphones.

And Teresa Roy does not want interest, and is unwilling to invest in Apple within a year. It seems that she helped Wen Ming solve the shipment problem of the first batch of iPhones for free, but one thing to note is that if the iPhone does not have If the expected sales volume is achieved, then all the rights and interests of the iPhone will belong to Teresa Roy.

Therefore, this bet is extremely unfair to Wen Ming.

What worries Wen Ming even more is that if Facebook's valuation increases a year later, even if the value of 2.1% of Facebook shares in Wen Ming's hands is less than 2.4 billion US dollars, Teresa Roy has reason to use some means to make it worthless. The sales volume of iphone cannot reach 30 million units.

Shopping malls are like battlefields, and if you are not careful, you will be smashed to pieces.

"If you need two years, then the only bet I can bet on is the Facebook shares I hold."

Wen Ming's Facebook shares are only worth 500 million US dollars now, and Teresa Roy guarantees an order of 8 million iPhones, which is probably the same amount that needs to be paid. Of course, if Wen Ming used 500 million US dollars as a guarantee, no one would be willing to help him produce 8 million iPhones.

Teresa Roy laughed, without explaining Wen Ming's worries, but said directly: "What about your promise?"

Wen Ming laughed and said: "Within two years, you can invest in Apple at any time, and the valuation is always limited to 150 billion US dollars. You can buy as many shares of Apple as you have."

Teresa Roy asked with a smile, "How much money do I have?"

Wen Ming confirmed: "Yes, how much money do you have!"