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This time I went to Carl Icahn’s home to discuss Tesla’s delisting.

If the performance is really poor and the company is forced to delist, Carl Icahn has little interest in such a case. If it is a temporary delisting, through some capital operations, and then strive for the opportunity to re-list in the future, then he has been involved in almost all such cases in the US stock market in the past 20 or 30 years.

What he is best at is this kind of capital operation of spin-off, merger, spin-off, listing, delisting and listing.

This is not the first time Zhou Buqi has come, and the two are already very familiar with each other.

In order for the work to proceed smoothly, even if Carl Icahn's family dinner is terrible, he still has to come. He is in his seventies or eighties, and he cannot be called to his home with just a phone call.

Zhou Buqi has always been relatively modest in this regard.

Not to mention outsiders, even if it is an employee of his own company, if the other person is over forty years old, he will not be able to dispatch him at will. He will often take the initiative to discuss work and assign tasks to the other person.

In fact, many people have made such suggestions to Zhou Buqi.

You have so many companies and the business is so complex, so don’t run back and forth. If something happens, just call the other person over and report to you!

For example, Boss Zhou is based in Silicon Valley.

If there is any problem with Ziweixing Global in Los Angeles, the CEO and two or three vice presidents will come over to report to him; at Ziweixing Digital Media in London, the CEO will also come over regularly to report to him on the company's business development; Jingtao in Tokyo also has to go to Silicon Valley from time to time to hand over tasks.

A lot of people do this.

Zhou Buqi felt that this was too bureaucratic.

Plus, he's young and energetic, and a little more traveling around the world wouldn't hurt. It is better to go to various places to meet more people, see the working environment on the spot, conduct on-the-spot inspections, and talk to some grassroots employees than to listen to the eloquent talk of a few senior executives.

"You're five minutes late." Carl Icahn pulled Zhou Buqi into the room. He obviously didn't like this late behavior. "Even if a plane hits the Pentagon, you can't be late."

Zhou Buqi nodded, "Be careful next time."

Go directly to the restaurant.

Carl Icahn seemed to be in a good mood, "The Dell case is finally coming to an end."

Zhou Buqi said amusedly: "How long has it been? More than a year, right?"

Now Carl Icahn is still actively involved in a delisting case-the delisting of the technology company Dell.

Once upon a time, Dell was powerful in the world.

Its status in the IT field is equivalent to that of Google and Facebook today.

However, with the advent of smartphones, the computer market plummeted. Not only Dell, but also HP and Lenovo, the two major competitors, are also in development difficulties. As for other leftover computer companies, it's even worse. Those who are lucky will be acquired by these three giants, while those who are unlucky will have no choice but to close down and go bankrupt.

In order to solve the dilemma, Dell's solution is to delist.

However, this has been in operation for more than a year.

Extremely inefficient.

Judging from Carl Icahn's tone, it seems that it may be over in the near future. After the process is completed and the funds are sufficient, Dell can finally delist.

Carl Icahn enthusiastically invited: "How about it, are you interested in participating?"

"ah?"

Zhou Buqi was slightly startled.

Carl Icahn said: "I still have some influence in this case. The total delisting price of this case may be between US$24 billion and US$26 billion. 65% of shareholders may delist. In the process of choosing to sell the stocks in hand.”

"That's enough."

Zhou Buqi was somewhat surprised.

The total price is between US$24 billion and US$26 billion, and 65% of the shares need to be repurchased... This means that the total transaction volume will reach an astonishing US$15 billion.

Carl Icahn said: "Well, many people are not optimistic about the future of the computer industry. They all take advantage of the high delisting price to make a profit first and be safe."

Zhou Buqi said: "This is normal. The computer industry... indeed has a bleak future."

Carl Icahn waved his hand and said, "Bloom or bright, it doesn't matter!"

What he does is short-term operation and capital operation. The computer industry has been bearish for a long time. This does not mean that he cannot make big money under short-term capital operation.

As for whether Dell will live or die in the future, whether he will flourish or go bankrupt, he doesn't care at all.

Zhou Buqi smiled and said, "I prefer long-term investment."

Carl Icahn shook his head and said: "No, I'm not inviting you to hold Dell's stocks for a long time, and I won't do that. Who knows when Dell will be listed for the second time after delisting? I mean If you are interested, you can take the opportunity to buy some stocks now. After a few months, Dell has stamped all the procedures and passed them. The stocks will be redeemed at a high price, and you can sell them all at once... It is very easy. You can make a lot of money from the land.”

"Isn't this okay?"

Zhou Buqi had a black line on his forehead.

Carl Icahn can do such immoral things, and his boss Zhou has done the same, so how can he still survive in Silicon Valley in the future? All the money earned from this strategy requires Dell to pay for it.

Dell was the big brother of Silicon Valley back then!

Although it is no longer viable and is on the edge of the times, many leaders in the IT industry came from Dell or studied and imitated Dell's business model.

The favor and relationship still exist.

The so-called Dell model, to put it bluntly, is the most popular assembly factory model in the world today.

The technology manufacturing industry back then was also the threshold of high technology.

All major technology giants have their own manufacturing plants. The most typical ones are the former computer giants HP and IBM, including Steve Jobs' Apple.

How can Dell break out from these technology giants?

Inadequate technology.

Insufficient funds.

There is also a shortage of talent.

It seems that nothing can compare.

At this time, Mr. Dell came up with a very magical business model-assembly.

If we don’t engage in research and development, we won’t be able to do it without technology, talent, and funds.

Dell purchases components directly from major manufacturers and then takes them to foundries for assembly.

Dell is only responsible for the design process, doing market research and market analysis to see what styles current users like, and then quickly designs and launches them.

The efficiency is greatly improved.

Prices have also come down.

A computer back then cost tens of thousands of dollars. Dell's computer cost a few thousand dollars, and it immediately opened up the market and became a rising star in Silicon Valley.

Unprecedented influence.

Later technology giants also learned from the Dell model, including Steve Jobs's return to Apple. In fact, he was also learning from Dell's ideas, running lightweight operations, cutting off more than a dozen of Apple's factories, and then arranged for Cook to Come to China to lay out supply chain and foundry.

The decline of Japan's technology giants, the decline of Nokia and Motorola...a very important reason is that they have not learned the "Dell model" well. They are too focused on scientific research. They invest huge sums of money to research chips and are doing various scientific research projects. The strategic direction is completely wrong.

Merchants in the "Dell model" go global to purchase the most affordable and high-quality spare parts to assemble. This is how Steve Jobs stood out and launched the iPod and iPhone, helping to get back to the top. In fact, there was no technological innovation. What we are playing with is the idea of ​​​​design innovation and assembly OEM, and we are following Dell's route.

The domestic technology industry has been able to rise rapidly despite being in a state of poverty. In fact, it has found the right direction and has firmly embarked on the "Dell model", rather than the Japanese and European development ideas of "scientific research is technology."

Dell is not very good now, but it has too many disciples. It is a company with a historical brand in Silicon Valley.

Going to suck blood from Dell, Zhou Buqi couldn't do such a thing. He shook his head and said, "The funds in my hand are very tight right now, so I won't participate for the time being. I want to work on the Tesla case now."

“Tesla is delisting?”

"Um."

"confirmed?"

"Elon Musk and I both have this intention." Zhou Buqi explained simply, "He and I have some division of labor for the time being. I am looking for some capital institutions on Wall Street that can cooperate, and he will go and deal with Tesla first. La’s board of directors. Then we met in New York.”

Carl Icahn mused: "Tesla may not be a good investment project. The stock price is too high. This is not the same as Dell."

Dell is delisting because its stock price is too low. If you want to delist first, do some powerful capital operations, and then go public again to raise the stock price.

Tesla is delisting because its stock price is too high, with a price-to-earnings ratio hundreds of times that of many traditional car companies. If there is any disturbance in the market, the stock price will fluctuate violently, which will put a lot of pressure on Musk.

Zhou Buqi smiled and said: "I will hold Tesla for the long term because I believe it. If you are worried, you can do it short-term, just like inviting me to buy Dell's stocks at this stage. As long as all parties work hard, it will be smooth. Once Tesla goes through all the delisting procedures, you can make a fortune."

Carl Icahn was a little strange, "This shouldn't be difficult, right? Just follow the normal process. The main reason why Dell's delisting is so slow is that the scale of funds that need to be raised is too large. How big is Tesla? Its market value is still Less than 10 billion U.S. dollars, right? If you want to delist, I estimate that a capital of 2 to 3 billion U.S. dollars is enough. This amount of money is nothing to you, right?"

Zhou Buqi said: "Theoretically it's not difficult, but you have to make sure it's foolproof."

Carl Icahn heard some mystery, "Is there resistance?"

Zhou Buqi nodded, "Traditional car companies have been staring at Tesla and may not be able to accept Tesla's delisting and restructuring. There are so many negative news about Tesla now, and they have their shadow behind it."