Author: Banlou Yaofeng

Qu Li met Spreadtrum CEO Wu Ping and President Li Liyou for the first time and talked about his future plans for Spreadtrum, which is to provide the world's leading high-performance and low-power mobile phone chips to Honor in five years.

Texas Instruments does not have a patent for WCDMA baseband chips. Honor 3G mobile phones use Qualcomm's baseband. But it is not a weak development capability of Texas Instruments but a patent issue. The 3G basebands they produce are customized products and can only be sold to Nokia and Motorola.

Therefore, Spreadtrum's acquisition of Texas Instruments' baseband chip department will give it strong development capabilities. If the price is right, then it will be acquired. If the price is not right, it will obtain the WCDMA patent license from Qualcomm and poach people from Silicon Valley to develop it on its own.

Currently, companies that can develop WCDMA baseband chips include Broadcom, STMicroelectronics, Infineon, Marvell and Ericsson EMP. Qualcomm has necessary patents, so it collects patent fees from chip manufacturers and mobile phone manufacturers at the same time. Broadcom is not willing to give in.

A counterclaim was launched, claiming that Qualcomm had infringed Broadcom's patents and asked the court to prohibit Qualcomm from selling infringing products. The final result, of course, was that Broadcom no longer had to pay Qualcomm WCDMA patent fees.

MediaTek obtained the WCDMA patent license from Qualcomm with zero licensing fee in 2009. Spreadtrum currently does not have WCDMA baseband products. If everything goes well, it should be able to launch it next year. But the patent licensing fee is really hard to say.

34% of the shares does not guarantee that the Vision Fund can control Spreadtrum, but this matter is not urgent. The lowest price of Spreadtrum's stock is less than one dollar, and Sun Jianhe still has a chance.

The next day, everyone was busy with their own affairs. Sun Jianhe, Qu Li and Shopee, a DOTA enthusiast, went to Los Angeles. Riot Games was raising funds. He happened to have money and could attack Penguin Games.

He doesn't know how to design games, but bragging is what Qu Li is good at. With his rich imagination, he quickly impressed the founders of Riot Games, Baker and Merrill.

"I've never heard of Benchmark and FirstMark Capital. You should be careful when looking for venture capital. You can't accept everything..." Qu Li introduced his experience as a successful entrepreneur, spending more money to hire the best talents and reducing costs.

Enterprise management costs.

"Excellent people don't need management, they will take the initiative..." While introducing his experience, Qu Li did not forget to show his own advantages. As a shareholder of Facebook, Riot Games' League of Legends will at least not be buried in numerous products.

Well, Qu Li is actually quite famous in the United States. It is said that some media interviewed Steve Jobs and asked him if he regretted inviting Qu Li to attend Apple’s iPhone launch conference. Then with the Honor G1, a new brand even surpassed him in terms of praise

iPhone.

"Even without my invitation, he will develop smartphones, but if there is another chance, I probably won't mention his name again..."

Yes, if Qu Li’s name had not been mentioned, Google’s Schmidt would not have known about such a person, and they would not have started cooperation so early. Less than a year after the iPhone was launched, Google launched the product, Qiaobu

Of course Si regrets it.

Honor's legendary nature, coupled with his becoming a small shareholder of Facebook, made Qu Li's story widely spread on the American Internet. Even a Chinese citizen can do this!

Regardless of the feud between Qu Li and Qiaobusi, after thinking about it, Baker and Merrill of Riot Games agreed to the Vision Fund's investment three days later, investing US$10 million for 35% of the shares.

"Is such a game company worth it?" Sun Jianhe felt very uncomfortable seeing such an "efficient" investment in a game company.

"This company has nothing, and its finances are clean. What I like is this game, which I think has great promise." Qu Li explained.

Sun Jianhe could see that Qu Li had put forward so many ideas in Riot Games, which showed that he had the idea of ​​making a similar game, but he didn't know why he didn't do it.

"I invested in Facebook, Twitter and Riot Games in North America, and also invested in Youku in China, but I never had time to do post-investment management..." Qu Li

"The Vision team is being formed, and some outstanding talents need time..." Sun Jianhe is also busy now, and has been playing the role of a trapeze artist.

The two discussed venture capital for a while, and in the future they will focus their investment on the mobile Internet industry and the semiconductor chip industry. Venture capital is just supplementary, and Xiangcai Securities is the focus. Qu Li and the others submitted a rectification plan and were assigned by Lehman

Fei Liwen, vice president of Xiangcai Securities, agreed, but it was a pity that there was no reaction at all.

"Then let's wait until Lehman goes bankrupt or is acquired." Qu Li didn't care. Will the fish fly away?

"What if Lehman makes it through?"

"Then they no longer have the ability to expand overseas for the time being..." Lehman's stock price has gone from US$50 in May to around US$15 now, which is miserable.

The two chatted freely, recounting Qu Li's original intention of investing in the semiconductor industry, and the national strategy: Japan's high-tech industry will be suppressed by the United States. Will China's best technology companies be spared? Including the recent news that it is said that Japan's high-tech industry will be suppressed by the United States.

China Investment is preparing to invest in Morgan Stanley.

Things were disrupted by Wu Hongning last year, but they can no longer be stopped this year. Morgan Stanley's stock price has dropped below $30 from around US$75 in July last year, with a market value of about US$300. Wu Hongning has both merit and blame.

Qu Li also knew that their negotiations were coming to an end. China Investment purchased about 170 million convertible preferred shares of Morgan Stanley for US$5 billion. The conversion price ranged from 25 to 34, and the maximum common stock price did not exceed the total number of Morgan Stanley.

9.9% of the shares enjoy a fixed dividend of US$500 million per year, and Morgan Stanley has the right to repurchase it at a premium of 10% at any time.

It is basically a replica of Buffett's investment in Goldman Sachs. Unfortunately, China Investment is not Berkshire Hathaway and lacks credibility. Customer funds will still escape if they should. However, when Lehman Brothers did not go bankrupt at this time, Morgan Stanley's stock price temporarily

You can hold it steady.

Qu Li had no control over Huatou's affairs. What he could interfere with was the US$1 billion invested by Huatou in Xiangjiang. Qu Li didn't expect that Wu Hongning actually contributed to this matter. It was so magical. What he didn't know was that sovereign fund investment

Private equity and hedge funds are normal.

More than ten years later, Huatou, with an asset scale of over US$1 trillion, has 61% of its assets in entrusted investments and 47% in alternative assets, such as hedge funds, private equity, real estate, infrastructure, etc.

With a bottom line of US$1 billion and more than US$500 million from him, Qu Li felt a lot more angry and asked Zhang Yiwen to open a short position of 20,000 lots of crude oil above US$140. He originally wanted to let her take a month to open the position, but she didn't.

Thinking of Zhang Yiwen's complete mess, it only took one week to complete.

However, as a result, the main crude oil futures price reached 145 US dollars and could not move any further. As soon as it took the lead, it was beaten by Zhang Yiwen. Everyone knew that there was a big short seller entering the market. It was already the decisive moment. The short sellers all worked together and the international oil price fell for three days.

Dropped from 145 to $129.
Chapter completed!