One hundred and seven billion dollars, start talking.

Li Mu's words with a calm expression made KS so shocked that he couldn't speak for a long time.

Before he came, eo explained Sequoia's trump card price, which was $16.5 billion.

The so-called trump card price is the maximum limit for Sequoia to participate in bidding.

Although eO did not clearly state what should we do if the price required by animal husbandry technology is higher than the trump card price of Sequoia, according to the normal process, once Sequoia sets the trump card price, then there are only two results: if it can be negotiated within this price range, Sequoia will advance; if it exceeds this price, Sequoia will return. There has been almost no third possibility in the past few years.

Like other venture capital investors, Sequoia has to calculate the potential profit margin and capital risks for each investment. Makino Technology's round of bulk investments can take out more than one billion US dollars in cash in one breath, so the risks need to be repeatedly evaluated. After all, Sequoia's money is not blown by the strong wind, but is the common asset of all board members and subordinate fund investors.

In this case, even if Sequoia believes that Makino Technology may reach $170 billion in assets in the next few years, it is necessary to reasonably measure the risks behind this. We must never make hasty decisions just because a company is developing smoothly, leaving hidden risks.

For venture capitalists, when they lead or invest independently, they will definitely find ways to lower their actual valuations. On the one hand, this is to reduce capital investment, and on the other hand, it is to better take off in the future.

Come in when the valuation of 100 million, and withdraw when the valuation of 500 million, so that the next company can take over at a price of 500 million. This is the general routine of venture capital making money. However, if you do not grasp the premium when taking over, and make other investment banks think that the price of your takeover is too high when evaluating, it will be difficult to sell a high premium when you take over in the future.

KS thought a lot all of a sudden. Seeing that he had a strange expression, Li Mu guessed in his heart that the price he offered might have scared him. Before him, he had already scared the representatives of two venture capital companies, so Li Mu didn't care at all and said with a smile: "Mr. Hanks doesn't need to be too entangled. There is an old Chinese saying, 'Buying and selling is unsuccessful,' that means that even if we fail to reach a cooperation because of the price negotiation, we are still friends."

KS nodded slightly and said to Li Mu with a serious look on his face: "Mr. Li, frankly, we have done a very in-depth and objective assessment of the situation of Muye Technology. The valuation of $17 billion is indeed too high. If you raise funds based on this valuation, you may be able to accept very little capital."

Li Mu expressed his expression calmly and said with a detached confidence: "Mr. Hanks, I want to correct the mistakes in your words first."

KS raised his eyebrows and looked at Li Mu waiting for him.

Li Mu smiled and said, "I'm not asking for a valuation of $17 billion, I'm going to start talking about $17 billion. You can understand that this is a starting price."

ks felt the strong confidence in Li Mu at this moment. In his opinion, Li Mu's tone when he said this sentence was no longer as simple as confidence, and he was even a little arrogant.

Sequoia has been working in the Internet field for so many years and has known Internet companies. It is no exaggeration to say that Sequoia is the godfather of the Internet industry. With these precipitations, Sequoia's assessment of an Internet company can basically be consistent. In other words, if Sequoia regards US$16.5 billion as the trump card price of Muye Technology, then most companies in this industry will not give a higher price than this. Li Mu opened his mouth and started talking about US$17 billion, which is indeed a bit arrogant in his opinion.

Li Mu could see that there was a little anger and dissatisfaction between KS's eyebrows. It seemed that his words had already made him feel a little complaint. However, Li Mu didn't care and continued to smile and said, "Mr. Hanks, Chinese people like a jade called jade. Jade is very expensive. Even if it is just a jade ring, it may be worth more than 10 million yuan. However, if the quality is not good, you can buy it for a few hundred yuan. Because the price range of jade is very large, a model of gambling stones has been given birth to in the industry. Gambling stones is very interesting. I think it has a lot of commonality with the investment industry. If you are interested, I can tell you something."

Ks stretched out a hand and said, "Please say."

Li Mu said: "Merry is a special ore. What's interesting is that when it is mined, it is basically covered with a weathered outer skin. The value of the jade inside is. No one can tell if it is not cut open. Sometimes, if it is cut in one size fits, a big stone of basketball can be worth over 100 million, but sometimes it is worthless. Therefore, in order to pass on the risk, the seller of the ore does not completely cut the ore, but lets the buyer buy it and cut it by himself."

KS was a little fascinated and waited for Li Mu's following with curiosity.

Li Mu continued: "Some sellers trade pure raw stones. Whether there is jade in this stone or not, if there is any, the quality depends basically on the buyer's own judgment and luck. Generally speaking, the average price of this kind of stone is relatively low because the buyer has to bear all the risks;"

"There are also sellers who will first cut the surface of the raw stone lightly when trading the raw stone, so that the jade inside it will reveal a little color. In the jargon, it is called opening a skylight. After the skylight is opened, if the exposed part is of high quality, the price of this stone will also soar, because with the little color exposed by the skylight, the buyer will have more confidence in his judgment and alleviate the risks."

"Some of the raw stones have a skylight, and some of the raw stones will even have three or five or even more skylights. However, in contrast, the more the skylights are opened, the better the exposed part is, the higher the price of the raw stones will be;"

"However, even if there are many sunroofs opened, there is a great risk. Because the sunroof is only open on the surface, no one knows what the texture of more jade inside. Many jade sunroofs look great, but after cutting it in, they find that except for the sunroof that is very good, it is worthless. Moreover, many jade merchants make fraud and deliberately fake the part of the sunroof that opens to a very high-quality appearance. In this way, the buyer will buy it and cut it, and will immediately lose everything."

"The same is true. Sometimes the cut part looks bad, but after buying it and cutting it completely, I found that the inner quality is excellent. In this way, the return on investment will naturally be astonishingly high."

Speaking of this, Li Mu looked at KS and continued with a smile: "Look, how similar is gambling stones and investment? Those who dare to buy complete raw stones are angel investments; companies that have developed for a certain period of time have given the outside world a certain understanding, then such companies are equivalent to opening skylights. The longer they develop, the more projects they handle, the more skylights will be opened; once the company goes public and everything is completely disclosed to the securities market, it is equivalent to having been processed and molded and sold on the market, with all the jades marked with clear prices and no deception."

Ks smiled and smacked his lips, saying, "Although I didn't understand it very well, it sounds really interesting."

Li Mu nodded, changed his subject and said, "In the stone gambling industry, no matter how many skylights are opened, there are secrets inside that experts cannot see through. Buyers cannot see through everything, so they cannot feel that their judgment is exactly the actual value of the entire piece of jade."

KS heard that Li Mu was saying that Sequoia could not see through the interior of the jadeite, and he couldn't help but smile and said, "Mr. Li, if you say that, the buyer doesn't know what actual value a piece of jade has, and the seller doesn't know either."

Li Mu smiled and said, "Of course, neither sellers nor buyers know, they can only rely on their own judgment."

Ks shrugged his shoulders and spread his hands out, saying, "Since they all rely on judgment, it must be that both parties have deviations. The most important thing is that they can reach a consensus before. If they do not reach a consensus, no matter how good the jade is, they cannot reach a deal."

Li Mu laughed and clapped his hands and said, "This is what I want to express. If the buyer and seller reach a consensus on the value of jade, then there is naturally no way to reach a deal. However, it doesn't matter if it reaches a consensus at the moment. You can go back first and wait until I open a skylight with my own hands. Then you can use your expert's eyes to re-estimate the price of Muye Technology, which has a new skylight. If it doesn't matter if it still fails to reach a consensus, I can open another one, two, until you or other venture capitalists are willing to reach a consensus with me!"

KS was a little confused when he heard it. He thought Li Mu wanted to ridicule Sequoia for not knowing the goods, but he didn't expect Li Mu to say that he would take the initiative to open another skylight. What does this mean? He understood the matter of opening a skylight for jade stone, but he really didn't know what the corresponding operation was.

Although he did not understand the specific metaphor, KS still heard the domineering aura in Li Mu's words that never give in. Li Mu's words are very clear. Venture capital must be willing to reach a consensus with him. The subtext is: only venture capital bows to him, and he will never bow to venture capital.

KS was a little disgusted with Li Mu's youthfulness and pride and arrogantness. At the same time, he knew very well that he must have returned in a defeat today. Li Mu bit the quotation of $17 billion to death. He had no way to let him lower the offer, so he had to go back and report.

If EO and the board of directors are willing to change their minds and accept the offer, the two parties will continue to talk. If not, Sequoia will get up from the negotiating table and the project will be suspended indefinitely for Sequoia.

In that case, unless Li Mu hits a wall everywhere and changes his mind, then lowers his valuation in exchange for Sequoia to continue sitting back to the negotiating table to continue discussing.

And KS is confident in his heart that the one who will change his mind must be Li Mu!
Chapter completed!