The yellow booklet is the one that Sucheng has seen the longest, and the Internet company it has also known that it has the highest return on investment.

Before the Internet era, no company, or industry, could generate such high value in such a short period of time, even the legendary silk business, spice business, even colonial business and drug transactions could not reach such a height.

Take Netscape as an example. When it went public in 1995, the Wall Street Journal commented: It took General Dynamics 43 years to get its market value to $2.7 billion, while Netscape only took one minute.

Even if we start from the prototype of Netscape's design, it only took three years. In the following three years, Netscape's market value doubled and still has considerable potential.

This is a scene that is difficult to see in traditional industries. Even the once brand new semiconductor industry and telecommunications industry cannot create such glory.

People in 1994 could not have expected such changes in the world.

Like those jackals from investment banks, Ji Runzhi is optimistic about the brand new Internet industry, but he will never expect the booming development of the Internet industry.

The 2.7 billion US dollars of net scene seemed like a fantasy in 1994.

Google, which has hundreds of billions of dollars, is still a fantasy in 1995.

However, Su Cheng searched through the yellow booklets and did not find any names like Google, so he simply said: "I like Internet companies, especially search engines, like Yahoo. Every month from now on, you will give me a detailed report on this company. Can you do it?"

"No problem." Ji Runzhi smiled and said, "So, can I host this investment plan?"

"I will allocate funds to you on time." Su Cheng pondered for a moment, and then said: "I will send new financial personnel to Dahua to invest. On the one hand, you can set investment goals by yourself. On the other hand, you must complete the goals I set, and, I require the acquisition of the company to be of higher priority."

"I understand, I believe in Mr. Su's vision." Ji Runzhi did not tell any lies. Just the London futures trading that happened a few days ago has proved Sucheng's investment level.

Su Cheng nodded slowly, then picked up another loose page and read it, "When acquiring these companies, you should pay attention to the management. On the one hand, you should leave enough shares to stimulate their initiative, and on the other hand, you should minimize legal disputes as much as possible. Especially for the companies I ask that the acquired companies must be clean, complete patents, and complete company composition... The exercise of shares must be especially considered, once the company goes public, profit distribution issues..."

"For entrepreneurial companies, disputes are often difficult to avoid. If you want to get clean and complete shares, you will definitely have to spend more money."

"Then spend more money." The earliest Netscape was worth tens of millions of dollars in 1994, and there are also reasons for investors. The so-called spending more money is difficult to exceed one million dollars in a company.

"Okay." Ji Runzhi had no objection. Many large companies have similar requirements. Generally speaking, the larger the company, the more documents they have to sign, and the cost of signing contracts is often higher than that of small companies. However, in terms of average risks, large companies obviously control it very well.

Ji Runzhi originally preferred to sign contracts with more companies. After all, venture capital was a way to cast a wide net. However, Su Cheng had some requests, and he did not object. In his opinion, this was also a good manifestation of the company's regularization.

After thinking for a while, Ji Runzhi asked tentatively: "About the first company you saw..."

"Netscape? What's wrong with it?"

"Its patent itself seems to be incomplete."

"Oh?" Su Cheng knew that even if Netscape was good, how could he know the details inside, and he couldn't help but concentrate.

"The designer of Netscape originally designed in college, so both the patent and the original browser were left in the university. Now Netscape is a one-on-one he went out and rewrites. So, if someone bought the browser's patent from the university, it can also be developed on this basis. Of course, it is not easy, but it is still a loophole."

"Then buy it from university." Su Cheng roughly remembered that Netscape was related to Microsoft's IE. Now that I think about it, it's because of this.

Ji Runzhi coughed and said, "The University of Illinois has sold the patent to a company. I can ask for the price..."

"If you can buy Netscape, then you will buy back the patent. It's really not possible, so you can buy that company too. If you can't buy Netscape, you need an authorization." Su Cheng's decision was made very quickly.

Ji Runzhi was stunned and said, "If you forcefully buy a patent, the cost will be much higher."

“How high?”

"One or two million dollars. Say less."

"Buy it." Seeing Netscape, Sucheng thought of billions of dollars in his mind, so he naturally didn't care about one or two million dollars.

To be honest, the profit margins of Internet companies are much higher than those of traditional energy companies. If you work hard to get an oil field, you may only make billions of dollars, while an Internet company can be worth billions of dollars.

Of course, the profits of oil fields are quite stable, and obtaining equity in Internet companies through venture capital is no higher than finding oil fields. From this point of view, the energy industry and the Internet industry have their own advantages.

However, there is one thing that energy companies are difficult to reach in 20 or 30 years, that is, their social and political influence are very wide.

Whether it is a Chinese company like Dahua Industrial or a large oil supplier like Exxon, they can all use various means to more or less happen at the national and international political levels. It is quite difficult for Internet companies to do this. Ordinary large Internet companies don’t even think about it. To be the top Internet company, it takes ten years to get one tenth or one percent of the respect that matches their wealth.

In terms of wealth stability and security, energy companies are also among the best. A slightly larger oil company is basically a company that cannot go bankrupt in various countries. At least in one region, it is a pillar-like existence and can receive countless preferential treatment. Its relationship with other companies in the industrial chain will naturally become a corporate network, improving its security and stability.

Historically, venture capital has encountered many lawsuits and lawsuits.

Netscape's browser was almost destroyed by Microsoft using rogue means.

However, if the Netscape is Dahua Industrial, it will not be easy to directly repel Microsoft with the current momentum of Pan Asia Fund and Dahua Industrial. It is easy to urge the US Department of Justice and federal prosecutors.

Ji Runzhi was willing to join Dahua Industrial, but he actually had similar considerations. If not, he might as well stay on Wall Street.

Seeing that Su Cheng was thinking about taking it right, Ji Runzhi naturally took it in his heart, then pointed to the loose page in Su Cheng's hand and said: "This is a high-tech company of a certain scale. The investment cost will be much higher, but the risk will be much lower. For example, Microsoft and Cisco, their value has increased by hundreds of times. Everyone generally believes that there is still room, but it is hard to say how much there is."

"If you have extra money, buy it... Well, it's 100 million or 200 million yuan now, and you can invest $100 million to Microsoft." Sucheng said as he continued to flip the booklet. Microsoft in 1994 has not released Windows 95, nor does it have Genesis' window 98, so there is still a high room for growth. However, this kind of room for growth cannot be compared with venture capital companies. Moreover, investing in startups can easily obtain controlling stakes, at least a high proportion of shares. Companies like Microsoft and Cisco can only distribute dividends at most, and they are not as good as venture capital in terms of utilization and influence.

However, Sucheng cannot throw all the tens of billions of dollars in his hands to small companies. In comparison, Microsoft in 1994 is still a good choice.

Afterwards, Apple, which Jobs resigned, Berkshire Hathaway, who had just become the world's richest man, Dell, which had just stopped retailing his personal computers, and Nokia, which had not yet shown its kingly style, were all listed on the list of Sioux City.

Su Cheng roughly estimates that if he uses $10 billion to complete these acquisitions, no matter whether he leaves before the bursting of the Internet bubble in 2000, he will become a super rich man with at least $1 trillion in assets, comparable to the entire Rockefeller family...

And in 1995 and 1996, more Internet companies will appear, such as Amazon, ebay...

As the boss of an oil company, Su Cheng's nerves have been very large and have no burden on $10 trillion. He just said: "Build a few offshore companies, and the acquired companies and stocks are placed in the name of offshore companies."

If an ordinary person or an ordinary company boss gets 10 trillion US dollars, he will be scared and unable to sleep.

For Sioux City, which has just experienced inside transactions, been to the former Soviet Union, and is still fighting in Central Asia, the more funds it will only make itself stronger.

In the oil industry, there are more companies with reserves of billions and billions of barrels of crude oil. Everyone will only sleep more soundly because of the increase in reserves and will not be at ease when the reserves decrease.

Ji Runzhi thought that Suchengjian offshore company wanted to avoid taxes, so he happily agreed. No one likes to pay taxes, just like no one likes protection fees.

Su Cheng had no idea of ​​becoming a billionaire at all. After confirming the list of investment companies, he began to prepare for his return to China. At the same time, he continued to meet representatives of companies who were interested in joining the Pan Asia Fund. He also took time to accept media interviews, but he had no intention of celebrating.

Su Cheng himself measures his personal wealth by China's foreign exchange reserves. He owned billions of dollars in 1990 and tens of billions of dollars in 1994, which seems to be no different from having trillions of dollars in 2014. If he had "only" trillions of dollars in 2014, his assets to the national foreign exchange reserves would have been smaller.

However, what Sucheng intentionally did not consider is that China's foreign exchange reserves in 1994 were not worth mentioning internationally, while China was the largest foreign exchange reserves in 2014.

Sucheng just consciously hopes to pay more attention to the role this money can play.

In terms of enjoyment, he could retire two years ago, and Su Cheng was more willing to use this money to support Dahua Industrial and Dahua Laboratory.
Chapter completed!