As a mage, I just want to pursue the truth

Chapter 329 Witnessing History (asking for monthly tickets!)
All of Kechuang Bio's official accounts on major social media platforms have released preview videos about virtual reality devices.

After the video was released, other countries quickly realized what China’s actions in the capital market had been like in the previous half month.

Virtual reality in the true sense has arrived, which is equivalent to skipping Internet 1.0, 2.0, and 3.0 and directly entering the tenth generation of the Internet.

The tenth generation here is just an exaggeration. It is possible that even the tenth generation cannot achieve true virtual reality.

With the advent of virtual reality devices, all the previous Internet giants will have to re-price their prices.

Google, Amazon, Apple, META abroad, BAT in China, and a number of other Internet companies cannot enjoy their current valuations at all.

With the advent of the virtual reality world, in the form of software, users’ demand for traditional Internet services will be reduced to a minimum.

When the U.S. stock market opened that day, the Nasdaq index collapsed, and by the close of trading, the decline had exceeded 15 percent.

This was the largest drop in the history of the Nasdaq.

The Nasdaq's biggest one-day drop in history was only 11.35%.

Even in the millennium when the Internet bubble burst, the Nasdaq index did not fall more than 10% in a single day.

Most of the stocks that make up the S&P 500 were in the red.

The S&P 500 fell by percent that day, directly triggering the mechanism to stop trading in the U.S. stock market.

You should know that a 500% drop in the S&P will trigger a circuit breaker, a % drop will trigger another circuit breaker, and a % drop will directly stop trading for the day.

Since this circuit breaker mechanism was introduced into the U.S. stock market, it has only been circuit-breaker four times.

Previously in 2020, the U.S. stock market only experienced circuit breakers twice in a consecutive week.

As a result, a video from Kechuang Biotechnology caused the U.S. stock market to be halted three times.

This is the first time in history.

"Brothers, let's watch the fireworks!"

“I didn’t expect that an announcement from a Chinese company could crash the U.S. stock market.”

"I am witnessing history. As a post-90s generation, I have witnessed a lot of history. I originally thought that the three circuit breakers in the U.S. stock market within nine days eleven years ago was a history that could not be surpassed.

Unexpectedly, the circuit breaker occurred three times in one day.

I guess the American Securities and Exchange Commission did not anticipate the circuit breaker mechanism when it was designed.

The most ridiculous thing is that this is still influenced by Chinese companies.”

“The investors behind the internet giants like Google, Microsoft, and Apple are all scared by Kechuang Biotechnology.

Originally, I didn’t believe that Ke Chuang Biotechnology had really developed virtual reality technology.

Judging from the reaction of the US stock market, I guess it is true.

Capital is voting with its feet.”

“I also think that if virtual reality technology had not really been realized, what else could have caused Apple’s market value to drop by 20 percent?
More than one trillion RMB evaporated directly.”

The reason why Apple only fell by 20% is that the market believes that Kechuang Bio's virtual reality equipment will not be able to enter the market outside of China in a short period of time.

If it is confirmed that virtual reality devices can be launched in America and most of the world, Apple will fall by at least 50%.

“The U.S. stock market is too exciting, my heart can’t handle it, I’d better just play the A-share market.

At least the A-share market will fall by at most 10% tomorrow."

The suspension of U.S. stocks that evening topped the list of Chinese social media.

Chinese netizens were very excited. It was the first time they saw a new product launch announcement from a Chinese company that could cause the U.S. stock market to trip.

"This is the case during the bursting of the Internet bubble in 2000, the financial crisis in 2008, the South China Sea standoff in 2016, the pandemic in 2020, and the repeated rate hikes by the Federal Reserve in 2022. We have never seen this level of circuit breakers in the U.S. stock market.

Ke Chuang Biotechnology is awesome.

No, if the US stock market collapses, won’t the A-share and Hong Kong stock markets also collapse tomorrow? I still have positions, why am I so happy? "

"Maybe this is just watching the fun without getting in the way."

In fact, many people in China own houses at home or on their own, and sometimes more than one, but they also want to see China's housing prices collapse.

Fun people are fearless.

The next day, the A-share market collapsed as expected, almost repeating the tragedy of thousands of stocks hitting the daily limit that year.

The worst hit was the semiconductor sector, which was at least seven points underwater.

Investors who were still complaining about U.S. stocks on Weibo the night before started to make fun of themselves the next day.

"The losses in my account will be considered as donations to Kechuang Biotechnology's research and development."

"I just hope that the loss in my account will be compensated by Kechuang Biotechnology giving me a discount when I buy virtual reality equipment later."

The only stock that saw a big increase on that day was Kechuang Bio, which, as a listed company with a market value of one trillion yuan, hit its daily limit.

You should know that the limit of price fluctuation on the Science and Technology Innovation Board is 20%.

For example, CATL hit the daily limit for eight consecutive trading days when it was first listed, becoming the largest weighted stock on the ChiNext at that time.

However, after CATL's market value went up, it almost never hit the daily limit again. Although it has been on an upward trend, it is almost impossible for it to hit the daily limit because the market cap is too large.

This is the case for a company like CATL with a market value of trillions in RMB, and the trillions in market value of Kechuang Biotechnology is denominated in US dollars.

Even the most optimistic shareholders never thought that Kechuang Biotechnology would be able to reach its daily limit.

This is so rare.

As soon as the market opened that day, Ke Chuang Bio's stock price was pressed on the daily limit and it never opened again.

The Shanghai Composite Index fell by 2020%, which is even more exaggerated than the 2 stocks that hit the daily limit on February 3, 3212.

Even with the overall market situation, Ke Chuang Bio was still firmly on the daily limit, and the turnover rate was extremely low, not exceeding 0.5%.

Capital is not stupid. At this critical moment, the most scarce resource is certainty.

Why do we often see the word "certainty" in public speeches by senior fund managers?
Because the A-share market is neither pure value investment nor pure speculation, as a senior fund manager who manages money for investors, pursuing returns is not the top priority.

The more they experience this market, the more they have a sense of awe. Their first goal is to pursue low drawdowns and prevent investors from feeling losses as much as possible.

Under this goal orientation, certainty is naturally the most important thing for a company.

Private equity funds are another way to play. There are too many ways to play, and many private equity funds play wildly.

At this time, all the capital does not know where to go, and there is no authoritative voice to tell everyone what extent Ke Chuang Bio's virtual reality technology can achieve.

What form will the products that Kechuang Biotechnology will release this year take?

These are all unknown situations. As the initiator of all this, Ke Chuang Bio has the greatest certainty.

At noon that day, Oriental Fortune had only one sentence in its summary: Ke Chuang Bio has completely reversed its predicament, and when a whale is born, all things fall.

The title of Xueqiu’s official account the night before was:

"The U.S. stock market plummeted, with the Nasdaq index losing 2,000 points in a single day! Panic sentiment has reached its peak."

Just change the title and use it in Big A the next morning.

The stock forum of Kechuang Biotechnology was quite popular at the beginning, but it has been a bit tepid since then. Among the more than 4,000 stocks in the market, the popularity of the stock forum has always ranked around 50th.

After all, the price per share of Kechuang Bio is too high, and it is listed on the Science and Technology Innovation Board, so there are very few retail investors who can participate.

This is the same reason why Moutai’s stock forum is not very popular.

But in the past two days, its popularity has jumped directly to the first place.

It is full of the wails and condemnations of the shareholders whose shares were cut.

“How do you evaluate Kechuang Bio’s claim today that it will release a real virtual reality product this year and name it after the future?”

Due to the sudden collapse of the global capital market caused by scientific and technological innovation, this question was pushed to the top of the popularity list on Zhihu.

“Thank you for the invitation, but there is still little information revealed at the official level.

There are many things that cannot be judged.

First of all, whether it was the U.S. stock market, European stock markets last night, or the Asia-Pacific stock markets that opened today, all were plummeting.

There was no negative news.

In addition, both Chinese Internet companies and domestic semiconductor stocks have been falling. It can be seen that the so-called real virtual reality equipment of Kechuang Biotechnology is not a gimmick, but a real product.

This product will completely change the current Internet ecology.

It is highly likely that most sensations can be transmitted directly from the device to the user's brain.

That is why the capital market responded so enthusiastically. It cannot even be described as enthusiastic; it is even more exaggerated than a volcanic eruption.

But the strange thing is that both domestic and foreign semiconductor companies are plummeting.

Including the upstream suppliers of Kechuang Biotechnology's brain-computer interface VR, none of them has come out to claim that they are supplying the virtual reality equipment to be released by Kechuang Biotechnology this year.

In other words, Ke Chuang Bio's virtual reality equipment has no suppliers and does not use chips.

This is the core logic behind the collapse of the semiconductor industry.

This is incredible and completely inconsistent with my current understanding. I can’t quite figure out what kind of technology can realize the virtual world in film and television works without using semiconductors.

DeepBlue's biocomputer technology does not seem to be that advanced.

Another very important point is that if it is a virtual reality world, both storage and network requirements will far exceed those of current networks.

For example, watching videos requires a data speed of about 10M without any lag, while VR videos require about 100M.

If it is true virtual reality, involving the transmission of touch, taste, and smell, I estimate that the network speed requirement will have to be multiplied by at least ten.

Judging from China's current network infrastructure, it cannot meet this demand.

And there has been no news of any technological breakthroughs in the communications field.

Therefore, whether it is from the supply chain level or the communication level, there are many doubts.

Also, let us assume that this is true, all traditional Internet giants will be wiped out.

Including hardware manufacturers, from Apple to Samsung to Sony, from domestic Xiaomi, OV to Honor, all will face the fate of being ruthlessly eliminated by the times like Nokia.

Thanks to the relationship between Mr. Lei and Mr. Zheng, Dami may be able to survive, but it will also face a very exaggerated transformation.

As for semiconductors, virtual reality devices that do not use silicon-based chips are a huge boon to China, a serious negative for America, and it is no exaggeration to describe them as a calamity for Korea and Taiwan.

I watched the product preview video released by Kechuang Biotechnology on its official Weibo account several times.

The white ball that Miaomiao always holds in his hand is very different. It does not have the texture of plastic or any kind of metal, and it is also very difficult to wear on the head.

It doesn't look like a helmet.

I am really looking forward to seeing what the virtual reality equipment of Ke Chuang Bio will be like when used.

I hope to experience it sooner rather than later.”

Because some employees of Kechuang Bio called Li Miaomiao "General Miaomiao" on social media, netizens later got used to calling her that.

When all Chinese stocks listed in Hong Kong were falling, the declines of Rice and Tencent were not that exaggerated.

This is also because investors feel that Dami and Tencent may have the opportunity to intervene in Ke Chuang Bio's virtual reality equipment supply chain system.

Therefore, the selling was not as severe as the selling of other Chinese stocks listed in the US.

On that day, all the senior executives and middle-level managers in the Dami system gathered in the Dami Yanjing headquarters building.

Mr. Lei's face was very serious, and the executives present were startled. They had never seen Mr. Lei so serious before.

Mr. Lei is usually serious when there are few people around, but he becomes very friendly when there are many people around.

When the rice injection staff hold a general meeting, Lei Jun is rarely so serious.

The last time we faced great challenges was in 2018, more than ten years ago.

“Rice has reached a critical juncture of life and death, and we need to transform and truly face the situation of survival.

This is not alarmist talk, but a realistic problem that we have to face now.

The virtual reality world in movies and TV shows is coming, just nine months later. During these nine months, we must at least find a way to maintain the size of Rice.

If this scale cannot be maintained, how can we reduce staff?

At this juncture, those who need to be laid off will be laid off, even those of you present here. I cannot guarantee that layoffs will not happen to you.

We need to pass the chill down to everyone in the group.”

After Lei Jun finished the negotiations, he stayed in a sanatorium specially prepared for him in China for about a month.

Lei Jun was anxious every day in Beidaihe, wishing he could go back one day earlier to take charge of his work.

Virtual reality is also a fatal blow to rice.

You have to know that the foundation of DaMi is the mobile phone. In the world of virtual reality, do people really still need mobile phones in the traditional sense?

Although the negotiation result was that communication between virtual realities was limited to Gusu.

Xiaomi phones can still survive by administrative orders, but for how long? When will China change its mind?
Will other countries, like China, not allow virtual reality devices to be connected to the Internet?
You should know that rice's overseas market revenue is basically the same as that of the Chinese market.

With the help of the good relationship with Ke Chuang Bio, the overseas market for rice has even established a firm foothold in the high-end market.

If overseas countries allow the construction of virtual reality equipment and supporting bio-communication, rice will face the situation of directly losing half of its market.

Whether it will be when the country will relax regulations or whether virtual reality equipment will be promoted on a large scale abroad, these are currently unknown.

Running a business cannot rely on gambling, Lei Jun is very clear about this truth.

The impact of virtual reality devices on them will definitely come, it is just a matter of time.

Those who do not plan for eternity are not worthy of planning for the moment.

In front of Lei Jun was the virtual reality device that Zheng Li gave him.

The community was sealed today, and people were queuing downstairs for nucleic acid testing. . .

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(End of this chapter)