With the birth of the little guy, Feng Yiping's career as an exchange student in the United States is coming to an end.

Although there is one less class in the last class, Feng Yiping was not active in this class. Although this class on company mergers and acquisitions taught by Professor Black was also very helpful to him.

The content of each class in Professor Black's topic is solid, mainly because it was prosperous in the past few years and before the Internet bubble burst, those big companies with too much money were spent on the game, and they provided too many examples to Professor Black.

For example, the largest and most failed merger case in the United States. In 2000, the merger of American Online and Time Warner, with a total value of US$350 billion! It was definitely the largest company in the world with market value at that time.

You should know that more than ten years later, when Apple's market value was at its highest, it was only about 500 billion US dollars.

However, almost a merger, the two companies that were originally good immediately began to decline. In April this year, the financial reports they released created the largest loss in US history and probably in world history. The company's largest single-quarter loss was US$54.2 billion! The debt has also reached US$28 billion.

Comparing these numbers, Feng Yiping suddenly felt that he was so poor, so poor!

The stock price has dropped from nearly $100 two years ago to less than $10 now. Feng Yiping hated that he was not concerned about these things, so he missed such a good opportunity to short.

Professor Black has spoken a lot about the reasons for this situation after the merger and acquisition, and everyone has expressed a lot of opinions, such as the conflicts between management and the failure of the company's cultural integration...

But Feng Yiping believes that these two companies have a tragic fate. The timing of the merger almost coincides with the bursting of the Internet bubble. Then it was 911. The terrorist attack also had a great blow to their stock price.

However, this view is naturally difficult to publish.

Isn’t it just enough to confirm foreigners’ ignorant views on China’s backwardness and ignorance?

Yahoo was also very willful during this period. In 1999, it acquired Geocities for US$5.7 billion and US$3.56 billion.

These two mergers and acquisitions did not get high returns like the two projects that later acquired shares in Alibaba. They spent a high price to acquire. Now they have failed to operate, and more than 9 billion US dollars have been wasted.

It seems that Yahoo's later decline must have something to do with its current willfulness and impulsiveness.

They also analyzed many reasons for this matter, but for Feng Yiping, there is only one, that is, when there is too much money, don’t burn it. Don’t think it’s hot, and it’s okay to hold it in your hands for a while.

No matter when, more cash is in hand, it is a good thing.

Microsoft also contributed a case, but it is still relatively cautious. It acquired hotmail for US$400 million in 1998. Although hotmail is now operating in average. It finally disappeared from Microsoft's product series. Overall, it has been in operation for more than ten years, and compared with this comparison, it is not much. This merger and acquisition can almost be said to be successful.

It seems that as a legal person and a company's personality also determine their destiny.

For example, although he also missed the mobile Internet, Yahoo fell sharply, and Microsoft can support Gates to become the richest man almost every year.

So what determines her personality for a company like Jiasheng? It is mainly the personality of Feng Yiping, a single major shareholder. These cases have sounded a wake-up call for Feng Yiping. If you want to realize your wishes and build a century-old company, you cannot rely on your foresight and make the company's personality become impatient and impulsive.

In addition, Feng Yiping was a little sorry for his later father of WeChat. The foxmail he developed was sold in 2000 and only sold for 12 million yuan. In the past two years, the price of hotmail was 200 times that of it.

You said, if Mr. Zhang also sold his software for hundreds of millions of dollars, would he have the motivation to develop WeChat later?

The last case is that former Apple Ceo Jill Amério spent $429 million to acquire Next founded by Jobs. Then, he was sadly driven out of Apple by Jobs who he had invited back for a lot of money.

During the discussion, Hahn asked Feng Yiping with a smile, "Feng, what do you have to do with this case?"

This guy is so unkind. He knows the relationship between Feng Yiping and Jobs, so he is digging a hole!

"I think Amério is doing a good job. Apple can slowly get out of the trough. I have to thank him for this merger," Jobs said, and he should be satisfied with this!

"I think Jobs did a good job. When it comes to the interests of the company, he should not be concerned about personal interests," said Jenner, the only woman in the group.

It's worthy of being an intern in the White House and having experienced Uncle Sam's style of doing things in person. It's really a bit cruel and ruthless.

Professor Black walked over with a smile, "Feng, are you interested in formally applying to our college? If you have this idea, I think I can provide some support,"

The professors in the school have more information sources than students. They all know Feng Yiping's actions after he arrived in Silicon Valley. Now no professor dares to underestimate this young exchange student in China.

"Thank you, Professor Black, I have gained a lot this year. I am willing to continue my studies here. However, professor, you know that I have a lot of things in China, so I still need to consider it carefully."

Feng Yiping's words were not polite.

Stanford Business School, both in terms of faculty and curriculum settings, are better than the current Tsinghua Economic and Management Institute, and the teaching methods are very different.

Not to mention other things, just talk about some courses. Tsinghua is definitely not as fast as Stanford’s update.

The cases that the Economic and Management Institute will analyze here may be ten years ago, and for this reason, some classic cases may not be mentioned.

The Stanford case will not last more than five years at most, and there are no taboos when choosing, so naturally the latter is more helpful and inspiring to students.

"Okay, think about it carefully. I personally look forward to what measures and results will be if you stay in school for another year?" Professor Black said with a smile.

If you stay for another year, you will naturally have something to do. For example, after doing so much preparation, Tesla, which will be founded next year, will definitely be indispensable for its participation.

It seems that it was an appointment. After class in the afternoon, the Provost Levitt came to Feng Yiping again, "Feng, the academic year will end. Are you interested in transferring to the college to study? If you agree, I can help you handle all the related matters,"

Why are you so enthusiastic? Do you want me to be proud?

In fact, prestigious schools and well-known graduates also have their own backgrounds. For example, Stanford students generally say that their alma mater is Stanford, and Stanford will inadvertently say, "That, HP, Google, etc., their founders are all cultivated here."

What Feng Yiping did this year at Stanford and what he had done before made these professors and administrative officials know that this guy will not be an unknown guy in the business world in the future, and it is worth doing some hard work to win over.

"Thank you and the college for your kindness. Professor Black also mentioned this issue. I personally am willing, but I must consider other factors in detail and not give me some time,"

"No problem, there is one more thing, I want to say, if you decide to stay, you are already qualified to apply for our scholarship," Levitt said.

He knew that Feng Yiping would definitely not care about this little money, and he was afraid he would not apply, but this was enough to express his sincerity and the college.

So, whether to go back or stay is a question. (To be continued.)

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Chapter completed!