Back To 1995

   Chapter 518

   "This seems like a good choice!"

   Paulson tapped his finger on the table, "The Goldman Sachs board will review your proposal, but..."

   Saying this means that Paulson has agreed to Song Yang's proposal. It is not shabby to cut leeks. There are not many more PayPal companies, and there are not many less ones, not to mention that PayPal has also brought a lot of fresh leeks.

Paulson feels that Song Yang's plan for PayPal is somewhat feasible. PayPal uses tens of millions of users around the world to help Goldman Sachs and other institutions sell funds, insurance, and government bonds. Among them, PayPal can earn some procedures Fees, but the most profitable ones are Goldman Sachs.

Wall Street institutions like fresh leeks who haven’t been beaten up the most. These leeks are inexperienced, plus they are fooling around with names such as “fixed investment funds” and “freedom of wealth”, which is enough to fool a large number of leeks into the market one after another. .

Moreover, PayPal represents an online fund sales channel and is not regulated by federal laws, which allows Goldman Sachs and other institutions to take advantage of the opportunity to play mouse warehouses, junk bonds and the like through PayPal channels, as long as they are not playing It's too much. Even if you only sell about 10% of junk bonds through PayPal, and earn billions of dollars a year, there is no pressure at all, and it will not attract attention at all. My vision is not good, I have no investment level, etc., and I can't compare with the old leeks, who are angry and attack Wall Street.

As for the online credit and mortgage business, they are indeed vying for business with institutions such as Goldman Sachs, and will steal the credit card users of these giant banks, but many American banks, including Goldman Sachs, have been in a shortage of credit card users over the years. , let PayPal take part of it, and it will not hurt, and maybe Goldman Sachs can make a lot of money in it.

Looking at Song Yang, Paulson said, "In order to cooperate smoothly, Goldman Sachs will become PayPal's partner to supervise and control PayPal's business. Sorry, Song, this is not because of distrust of PayPal, but according to federal law. , Goldman Sachs has to!"

   Looking at Paulson, whose face remained unchanged, Aaron Swartz complained for a while when he said these words of snatch.

Asking Goldman Sachs to "supervise" PayPal's business made Aaron Swartz feel uncomfortable for a while. Paulson put Goldman Sachs in the "boss" position of PayPal, and Aaron Swartz was worried that , Goldman Sachs will not affect PayPal.

It is not impossible for a dove to occupy a magpie's nest. It has happened many times in the history of America. Goldman Sachs is too strong. Once Goldman Sachs is on the board of PayPal, the ghost knows, will Goldman Sachs steal in the future? Home, take PayPal as your own.

   But Paulson’s attitude is very firm. He needs to let Goldman Sachs “look at” PayPal to be at ease. If there is a problem, Goldman Sachs can leave at any time, otherwise if PayPal plays too much, Goldman Sachs will also be implicated.

  Song Yang doesn't matter. What PayPal cuts is the American banking industry, as well as the leeks of ordinary American users. Without Wall Street institutions such as Goldman Sachs, Song Yang may have some concerns.

   Moreover, PayPal has already given up a lot of equity, giving a 10% stake in Comerica Bank, and the directors of Comerica such as Kerimaiya, plus Chris Jain, also got a 7% stake in PayPal.

  Song Yang also promised that when PayPal goes public, he will give Enron's Kenneth Jeff Skilling a part of the equity, and now there are not many Goldman Sachs.

   However, if Paulson himself came to the door, Song Yang would have to cut a knife, otherwise, wouldn’t it be unfair to Comerica Bank and Enron Group, Song Yang’s most important thing is to treat them equally!

   "PayPal is willing to transfer 10% of Goldman Sachs' equity, but for the benefit of other PayPal investors, according to PayPal's current valuation, Goldman Sachs needs to invest a billion dollars in PayPal!"

  Pelle Greene stared at Song Yang in a stunned manner, wondering if there was something wrong with his ears. Song Yang was so ruthless that even Goldman Sachs was cut off.

   As far as PayPal is a broken company, it has not been three months since its launch. If it weren’t for the big deal between Comerica Bank and Enron, how could PayPal’s valuation be blown to tens of billions of dollars? !

   Just such a thing, Goldman Sachs hired a research and development team, not to mention three or five months, it will definitely be developed in half a year, just like this, Song Yang dared to open his mouth and ask Goldman Sachs a billion dollars for 10% of the equity?

   For a while, Pelle Greeni was a little suspicious. He didn't know if PayPal had gone away, or if Goldman Sachs couldn't lift his knife. After decades of cutting leeks, they were harvested in reverse.

Several executives who came with Paulson also had constipated expressions on their faces at this time. They all looked at Paulson and saw Paulson who was smiling just now. The sky was already cloudy, and obviously Paulson was also wondering if Song Yang was teasing him, he was just fooling him just now.

Seeing Paulson's expression, Song Yang said unhurriedly, "If the deal is concluded, in addition to transferring 10% of the equity to Goldman Sachs, when PayPal goes public, it will also report to Paulson's director and Pellet Gerhardt. Managers Rini, the transfer is a 2% equity reward, how to distribute this equity reward is decided by President Paulson as Goldman Sachs' support for PayPal!"

Aaron Swartz hadn't seen Sichuan Opera's face change, but in this conference room, he enjoyed this scene. Paulson and the others, who were dissatisfied a while ago, heard the 2% equity reward, and their faces suddenly changed. He began to smile, even the thoughtful old fox Paulson was no exception...

The world is as dark as crows, why is An Ran willing to take advantage of PayPal and raise the price for PayPal? The wild boars raging on the Houston farm know that PayPal is not worth the price, but An Ran still does it, desperately raising the valuation of PayPal, even if he loses to his grandmother At home, An Ran is willing to do it.

If something goes wrong, there must be a demon. Enron is not at a loss, I don't know, but Enron's two talkers, Kenneth and Jeff Skilling, are counting on getting the equity of PayPal. They don't belong to them anymore. They are already working men. If they can get an extra dollar from An Ran, that's all they earn!

   This issue is also true for Goldman Sachs. No matter how powerful Paulson is, he is still only a professional manager in America, just among the top group of people.

   But even so, Paulson will eventually leave Goldman Sachs one day, Goldman Sachs is not his after all.

Now, Song Yang put a multiple-choice question in front of Paulson to see whether he would choose to become a selfless Wall Street professional manager, or use the power of the president of Goldman Sachs in exchange for a 2% stake in PayPal. For this reason, Goldman Sachs may You will be stabbed and slaughtered severely.

   The answer is obvious, Paulson said without hesitation, "Goldman Sachs is willing to invest a billion dollars in PayPal, but PayPal must meet Goldman Sachs' requirements!"

   He said so, but in fact Paulson agreed to Song Yang's request. No matter how much he earns for Goldman Sachs, it is better to put it in his own pocket.

2% of PayPal's equity, even if Paulson can only get 1% of it, according to the hyped valuation, Paulson will be able to directly cash out nearly 100 million US dollars and leave, not to mention the possible valuation of PayPal at that time. Even higher!

The key point is that this set of beautiful knives can go directly to his pocket. Even if Paulson's salary is not low, he can't ignore more than 100 million knives. He has to think about his retirement life. , Paulson doesn't want to wait until his future, he needs to write some "memoirs", expose Wall Street secrets and the like, or be a clown on TV to get some living expenses!

   At this time, the atmosphere in the conference room was already quite relaxed. Song Yang and Paulson reached an agreement, which marked that Goldman Sachs and PayPal were no longer rivals.

"Of course," Song Yang took a sip of the coffee from Goldman Sachs' assistant, which was different from the one Song Yang drank when he first entered the door. Will also work with other institutions on Wall Street, Europe, Asia, including adding Edison from Deutsche Bank Investment Bank to the board of PayPal!"

   Hearing the name of Addison, Paulsonton felt that the coffee in his hand was not fragrant.

  To talk about who Paulson hates most on Wall Street today, Edison definitely bears the brunt of it. Looking at the entire Wall Street, he is still arguing with Paulson, and only Edison is the thorn.

Addison really doesn't care about Paulson's face at all. Goldman Sachs and Deutsche Bank are also fighting between open and secret wars. Goldman Sachs is finding fault with Deutsche Bank on Wall Street. Deutsche Bank is also blocking Goldman Sachs in Europe, grabbing a lot of Goldman Sachs business in Europe. Last Edison also has an extremely strong personality, and he and Paulson hate each other.

   But in front of Song Yang, Paulson couldn't say that he would drive Edison away. After getting in touch with him today, Paulson also understood that he really didn't have that much face here with Song Yang.

  Song Yang asked Edison to join PayPal's board of directors, more for its business in Europe. Without the cover of the European banking giant Deutsche Bank, PayPal's business could not be launched at all!

   (end of this chapter)