Many negotiations are like this, facing the problem of information asymmetry. Therefore, some social activities are needed to make up for it, hoping that the other party can understand their needs.

For example, this dinner party.

After thirty years of drinking, Bob exclaimed: "There has always been a legend that China is good at gourmet food. It is indeed well-deserved, and we had a pleasant night."

Li Yuan smiled and said: "This is the pursuit of happiness. When a country is completely wealthy, it pursues all kinds of enjoyment, and food is one of them. Just like France and China, they were both great countries in the past, so for

There is a lot of research into eating, drinking and having fun.”

Bob and the others laughed: "That's true. But I'm sorry, Li. The past glory must have passed. The most dynamic region in the world is still our United States, right?"

Li Yuan nodded, and he did not deny this: "That's why I prepared delicious food for you to fall into."

Everyone burst into laughter: "Okay, okay! Li, you seem to have misunderstood. We are the elites of Wall Street. Haha."

This sentence caused another burst of laughter.

Regarding the elites of Wall Street, what kind of depravity have you not witnessed? If you are interested in their corrupt lives, you can refer to "The Wolf of Wall Street" starring Leonardo DiCaprio.

After the laughter subsided, Li Yuan began to complain: "Bob, I really want to cooperate with you Goldman Sachs, but your conditions are too harsh. The reason why I must hold the controlling stake is because electric vehicles are different from traditional fuel

The car is completely different. I should have introduced that this car has become an Internet platform, and it is an incompatible system with a fuel car. Regarding past experiences, some can be used universally, but most of them are completely different. I am not necessarily sure

To control this enterprise, you must control the strategic direction during the start-up stage of the enterprise."

Bob was equally drunk: "Li, actually you have convinced me. But those stupid investors can't understand? They only see stock price, stock price, stock price! There is no long-term goal at all. And what you need is a sum of money

Huge start-up capital. Only after you get it can you really start it, right? As for the future, can you, the major shareholder, control the company? That depends on you. Can you give shareholders satisfactory returns?"

"But the risk is too great. Wouldn't it be more perfect if it could all be in our hands?"

"Li, have you considered it? If you don't make some concessions, your attractiveness will be greatly reduced, which may lead to the failure of the IPO? Solve the IPO problem first, and then think about the future!"

“What if it’s like Steve Jobs?”

"Li, hasn't Apple invited Steve Jobs back now? Besides, even Steve Jobs was still a billionaire and had huge influence in Silicon Valley and Wall Street. You are still young, what can't you wait for?

"

"..."

Unlike later unicorn companies, AB shares of equity are not yet popular. Therefore, all equity shares have voting rights, which indeed carries great risks.

Because of the IPO plan provided by Goldman Sachs, Li Yuan's equity will eventually be diluted to 34%. And during the unfreeze period, it will be further diluted to about 20%. With such a shareholding structure, Li Yuan is completely controlled by the board of directors. Sometimes

In order to maintain the stock price, you have to do something that is obviously wrong against your will.

Of course, if you can use the method of AB shares, try not to use it. There is no need to be a show-off.

But if it really doesn’t work, it’s not impossible to consider.

But at this moment, Li Yuan suddenly had an idea and realized that he had a misunderstanding.

To be honest, Wall Street elites like Bob have no feelings about their family and country at all. The reason why they must be located in the United States or hold more shares is just to make more money.

In that case, can we completely change our thinking?

If Goldman Sachs wants to hype, then go along with their hype; if Goldman Sachs wants to make money, then throw out some money-making gimmicks?

"Haha, Bob, is that okay? Can we sign a gambling agreement?"

"Betting agreement?"

"Yes! It's the repurchase clause. If the IPO cannot be successful according to the timetable, do I agree to accept the repurchase and repurchase the principal with interest at the standard interest rate?"

"Hmm..." Bob thought for a while and nodded slightly. If there is this repurchase clause, the risk will be greatly reduced and it will be easy to find those investors.

Of course, there will be certain risks. For example, Li Yuan goes bankrupt. But considering Li Yuan's worth, this risk is almost negligible.

"Haha." Bob laughed, "Of course we at Goldman Sachs will not object to this clause. But Li, if your Qinglong Automobile has a bright future, no one can trigger this repurchase clause, right? If your prospects are not good, I'm sorry, you are like this

Isn’t it completely pointless to concentrate equity?”

"Isn't it just a competition of vision?" Li Yuan also smiled, "I personally believe that the electric vehicle market will occupy more than 10% of the entire automobile market in the future..."

"Okay, okay! We believe you." Bob smiled and made a "don't want to argue" gesture.

"Bob, so I am ready to bet on this industry, which will definitely give me satisfactory returns in the future. Even if I face huge losses, I will continue to inject capital..."

Bob looked at Li Yuan doubtfully. Has this Chinese boy lost his mind and gone crazy? He asked hesitantly: "Li, if you continue to inject capital, what are you going to do?"

"Of course, as a condition - according to the timetable, I can have the mandatory option of subsequent capital injection to ensure that the company continues to operate."

Bob and others were immediately stunned. Why are you so optimistic about electric cars? Is Li Yuan a pure love warrior?

Just for the love in your heart, investing in electric cars at all costs? This is not the style of a businessman at all, right?

This chapter is not over yet, please click on the next page to continue reading! But...?

Goldman Sachs won’t suffer anyway, so just let Li Yuan do whatever he wants!

"Li, I personally admire your dream. But you must think carefully. This clause is very unfavorable to you. Not only are you facing the risk of repurchase, but there is also the risk of forced capital injection?"

"Don't worry! I believe I won't go bankrupt. And our Internet will rule the world sooner or later."

"Oh? Forgive my curiosity, how should the Internet be governed?"

"Of course, it is to lead the common development of other industries. The Internet will seize the information industry, the media industry, and the entertainment industry in the future. Now it is the turn of the automobile industry."

Everyone laughed. They thought Li Yuan was joking, and no one took his words seriously. Anyway, as long as the Chinese boy was happy, he seemed to have nothing to lose, as long as he could agree to Goldman Sachs's conditions.

"Li, what about our IPO plan?"

"I definitely won't decide now." Li Yuan said with a smile, "You will definitely have to make concessions, at least to satisfy me."

The atmosphere was relaxed. Bob and others were also old in the world, and they immediately understood that Li Yuan had actually agreed, and it was just a matter of haggling over some details.

"Li, we will definitely satisfy you. We at Goldman Sachs never treat our cooperating friends badly. Haha."

"Let's not talk about this anymore. Let's have a drink! If anything happens, we can talk to the company tomorrow!"

"That's right! Drink! Here's to you...hehe."

"..."

Now that Li Yuan made major concessions, the subsequent negotiations became very smooth.

In the end, the two parties signed an agreement: the IPO process is divided into angel round, A round, B round and C round.

In the angel round, Qinglong Automobile will take out 8% of the equity and obtain US$20 million in financing. And in subsequent rounds of financing, Li Yuan's equity will be diluted to 37.5%.

Of course, there will definitely be buyback clauses and mandatory capital injection clauses. This gives investors great protection and the probability of project success becomes very high.

As for Li Yuan voluntarily willing to suffer a big loss? Anyway, as long as he is happy.

But for Li Yuan, he was actually secretly happy.

Because Bob and the others don’t know that electric cars are not like the Internet, which requires a huge amount of capital investment from the beginning, and profits are far away. It will take more than ten years of persistence before we can truly see the dawn.

It is precisely because of long-term money burning that many investors are desperate!

There is no wrong adjective here, it is indeed - despair!

In the original historical line, even if Tesla was famous at the time, around 2018, there would still be investment reports like this - Tesla only had XX months of funds left, and was only one step away from bankruptcy. Still.

The wall is cracked and it is recommended to go short!

Who would have thought that in just a few years, Tesla would make Musk the richest man in the world?

Therefore, in the foreseeable future, at least for more than ten years, Qinglong Automobile will definitely maintain a loss-making state, making those investors "disappointed" again and again.

At that time, whether it was repurchase or forced capital injection, wasn't the equity concentrated in Li Yuan's hands? He could still achieve his goal and control the controlling stake.

So, everyone is happy, and they get the much-needed $20 million...

…

After the Qinglong Automobile incident was resolved, Li Lanlan followed up.

Li Yuan was finally able to take a vacation, so he stayed with Huang Jiaojiao for a few days.

"Xiao Yuanzi, do you know that I have made money again? Hehe. I have foresight. I bought the bottom when the real estate market plummeted. Now it has risen by nearly 50%."

The eldest lady is showing off happily. During the financial crisis, this person is struggling to make money for the country, and her mouth is full of oil.

"Hey, what's your look? I'm asking you, where have you been since your death?"

"My dear, of course you just have to work hard!"

"Huh? What a slave. Look, are you still not as good as me? My personal assets have gone up again, while yours are going down every day."

"Haha, I'm not even halfway there yet."

"Hey, what we are discussing is growth, not net worth. Huh? Are you hiding something from me? Are there any good projects that you won't take me to play with?"

"Alas!" Li Yuan sighed: "First I was busy with Phoenix, and then I was busy with Qinglong. Aren't you even interested?"

"Hey. I'm definitely not interested. Anyway, I don't understand. Hehehe." Huang Jiaojiao said naughtily, "Xiao Yuanzi, are those two businesses profitable?"

"Phoenix is ​​making good money, but it needs to continue to invest heavily. Qinglong has been burning money, and it just defrauded Wall Street." Li Yuan said a few words concisely, and then asked with a smile, "Jiaojiao, how are you?

It’s not too late to invest now.”

"I'm sorry! It's better for me to do it myself! You just can't do it! Hee hee. No way——!"
To be continued...