Rebirth of America, this is my era

Chapter 174 Investment is never a business
"what are you saying?"

"You were kicked out by Ethan Jones?"

Winter of 1977, Florida.

It was sunny in Miami before Christmas. The warm current from the Atlantic Ocean made it as warm as spring. In the hilltop villa overlooking the beach, Lawrence of the Rockefeller family was lying on a rattan lounge chair in the sun room, enjoying the salty and humid sea breeze while lazily stretching out his body, letting two young girls in uniform squat beside him to help relax his leg muscles.

After summoning his subordinates who came to report the latest developments of the incident, the old man in a white bathrobe opened his eyes slightly and looked at the two with a puzzled look, "Did Ethan Jones scold you?"

"Wow - you guys are awesome! You can give me something fun to do when the holidays are approaching -"

The boss's words made the two white middle-aged men stand still, not daring to move.

And if Ethan was also present at the scene at this moment, he would be surprised to find that the two of them were part of the Wenlock investment team that had previously negotiated with him.

As direct subordinates of Lawrence Rockefeller, they were not supposed to hang out with the guys from Wenlock, but Apple was the project chosen by the boss, so they temporarily joined the negotiation team, and then witnessed Ethan Jones scolding their investment manager.

then……

When they found that the investment had reached a deadlock, they could only come back to report the situation.

According to common sense, an investment of tens of millions is considered a small project in Rockefeller's family. If the two of them can't handle it, then there must be problems with their abilities.

But many things don’t work that way, right?
If it were just an ordinary project, they would have a natural advantage in negotiations, and they would naturally be able to cut the Gordian knot and win the project that the boss likes. But when the backgrounds of both parties are evenly matched, how could they dare to offend someone who is not afraid of Rockefeller's name when they dare not offend the boss?

So, many times, many things are difficult for them to handle.

As they fell silent, Lawrence Rockefeller closed his eyes again.

"Tell me about it." He understood his subordinate's dilemma and ordered, "Tell me the details. I want to know what you and Ethan Jones talked about."

The words of sympathy made the two of them feel relieved. They hurriedly reported the process of yesterday's negotiation in detail. When the old man leaning on the recliner learned that Ethan Jones did not curse like the country folk, but refuted the investment column, the corners of his mouth slightly raised as he listened with his eyes closed; when the two of them took out the report made by the expert group overnight, indicating that the chaos in Apple's operations might be just a superficial phenomenon, when Ethan Jones could refute the questions they raised with professional terms, the clear thinking at least proved that Apple had no problem in terms of talking on paper, as for the actual operation... there might still be a little flaw...

"Is this mistake referring to Ethan Jones?"

Lawrence Rockefeller heard the meaning of the expert group's words.

"Yes."

The two subordinates nodded quickly. "Our people still think that Apple needs to bring in a professional manager. Because Ethan Jones can't have enough time to manage two companies at the same time."

"Yeah." This result made Lawrence Rockefeller nod slightly.

Then he stretched out his right hand and said, "Minutes."

The two men quickly handed over the bound documents.

After flipping through it briefly, this old man, who was a contemporary of Fred Terman, suddenly laughed out loud.

"Actors!" he muttered.

Then he asked, "What do you think of what Ethan Jones said yesterday?"

This question made the two subordinates feel a little embarrassed. They looked at each other and said, "Boss, we personally think that what Ethan Jones said actually makes sense..."

"Snapped!"

As soon as these words were spoken, Lawrence Rockefeller immediately closed the document in his hand and threw it aside. Then he stood up and dismissed the servant who was giving him a massage.

As they left, the old man, with his hands on the railing of the sun room, looked out at the blue sea and said with a smile: "Yes, your feeling is right. What Ethan Jones said actually makes sense."

“How to turn technological products into consumer goods that the public needs is the real beginning of a revolution. There are a lot of patents in various laboratories in our country. Everyone knows that they mean the future, but no one knows when that future will come.”

"So, a lot of times we are just sitting there quietly waiting for someone to discover the role of those patents and bring them to market."

“This process is always so long and painful!”

“That’s why every change is exciting!”

"Ethan Jones is right. The two Steves who can discover the needs of ordinary people will definitely be remembered by the world. When this fact has been proven countless times by the world, our people use the words of class action to fight for the management rights of the company. It is a kind of..."

“Unwise behavior.”

Lawrence Rockefeller gave his own evaluation.

"Maybe they also want to complete the investment as soon as possible?" The two subordinates tried to explain.

"Hehe~" Lawrence Rockefeller turned around with a smile.

"But they gave Ethan Jones the edge."

This statement left the two middle-aged white men speechless.

Before they could speak again, Lawrence Rockefeller made the decision.

"Let's open it."

"..." The two subordinates' expressions tensed.

"Let the finance department settle their wages, so they don't have to come next year."

Lawrence Rockefeller leaned against the railing and said, "These people, who are over 200 years old in total, are not as sensible as a 22-year-old child? Keeping this kind of rubbish in the company will only ruin my mood!"

"Our investment company has been established for so many years, don't they understand what I mean?"

“Why should I invest in technology companies?”

"That's because Vannevar is right! Technological development is the future!"

"Many people have been missing the glorious days when Rockefeller sold oil, but the business of trading resources cannot last long! And it will make countless people harbor malice towards you!"

"Technology is different. This field that can change the world and change humanity will always exist. If Rockefeller wants to exist forever, he must integrate into it!"

"This kind of integration is not like the crazy financial investment of Morgan and Goldman Sachs, but the actual participation in the development of each company! Because the pursuit of financial resources alone can easily lead to short-sightedness in pursuit of profit! Just like I always think that AT and T must never dismantle Bell, and IBM must always keep Watson! In many cases, a certain amount of R&D expenditure is necessary! But in the eyes of those who work in finance, these are all garbage that drags down the financial report!"

"While our people did not display such ignorance in this negotiation, their disrespect for Jobs and Wozniak was enough to make them ..."

"Fuck off!"

The serious words made the two subordinates nod hurriedly.

As they responded, Lawrence Rockefeller took a deep breath and changed the subject, "So, where is the document that Ethan Jones threw to you?"

"A document that states their needs?"

"where is it?"

"I want to see."

This inquiry prompted the two subordinates to immediately open their briefcases and hand a manila document bag to Lawrence Rockefeller.

Taking a quick glance, Apple's financing requirements immediately come into view.

First, there was Ethan Jones' pre-investment valuation of Apple. According to his calculations, Apple's net profit in 1977 should be around 10 million. According to the current development prospects of the personal computer industry, Ethan felt that Apple deserved a price-to-earnings ratio of 30 times, so Apple's current valuation must be at least 300 million. Lawrence Rockefeller had to accept this valuation before they could talk.

Secondly, after the investment was completed, Lawrence Rockefeller needed to provide certain assistance in the development of Apple, and there were two points that had to be written into the investment agreement.

The first point is that Lawrence Rockefeller must promise to help Apple establish a sales channel throughout the United States within the next two years, so that Apple can get rid of the slow delivery of the U.S. Postal Service and achieve the freedom of distribution of Apple products throughout the United States.
The second point is that Lawrence Rockefeller must guarantee that within the next two years, he will help Apple enter universities across the United States, achieve educational procurement in various states, and make Apple a teaching tool and an educational machine.

If these three conditions only seemed harsh and were not difficult for the Rockefeller family to meet, then the fourth condition left the old man stunned.

Because it said that after the investment was completed, Lawrence Rockefeller needed to recommend several CEOs with rich management experience to Apple... "So this is why you came to me, right?"

Lawrence Rockefeller asked, pointing to the fourth clause in the cooperation agreement.

“Uh… yes…” The two subordinates nodded and said, “After seeing the conditions proposed by Ethan Jones, we don’t know how to continue the negotiations.”

"He wanted to retain his power within the company and not give us the power to appoint and dismiss our CEO and CFO, but at the same time he asked us to recommend a suitable executive to them..."

“This seems a bit conflicting no matter how you look at it.”

"Ha..." Lawrence Rockefeller chuckled, "Can't you see?"

"I do not believe."

“You just don’t dare to take responsibility.”

This comment made the two white men laugh quickly.

That pedantic move also made Lawrence Rockefeller shake his head. "Ethan Jones knows that Apple has problems. He also knows that Steve Jobs may not be suitable to be the CEO, at least not now, so he needs to introduce a professional to lead the company."

"He knew we had the resources, so he asked us to find them."

"But at the same time, he doesn't want to hand over power to us, so he asked us to recommend instead of directly appointing. For this, he can have a debate with you."

At this point, Lawrence Rockefeller suddenly smiled and shook his head.

“This young man is quite interesting.”

"How old are you this year?"

"Twenty-two? Or twenty-three? I didn't expect you to value power so much."

Having said this, Lawrence Rockefeller suddenly stopped.

His eyes were staring blankly ahead, and his soul seemed to have flown into the sky.

This situation made the two white subordinates swallow their saliva and think to themselves that this was not good.

Because the boss's words reminded them of Nelson from the Rockefeller family, who also valued power so much that Lawrence had been unable to obtain the management rights of the family business.

If the other party had not suddenly wanted to pursue a career in politics, their boss would probably have been suppressed all the time.

"Ah--fifty years have passed--"

After a while, Lawrence Rockefeller suddenly came back to his senses.

He smiled at the two subordinates who seemed incompetent but never made him angry, and asked, "What do you think of Ethan Jones's offer?"

Although he asked, he did not give the two a chance to answer, and said to himself: "Regarding the selection of CEO, are you ready?"

This question gave the two of them an answer.

"Boss, we've already looked for it." They said impatiently, "We think Harry Thornburn, Robert Canterlot, and Roger Corien might be suitable."

Although Lawrence Rockefeller looked confused after hearing the names of these three people, it didn't matter. He waved his hand and said, "After the class, you will give the information of these three people to Ethan Jones and let him choose the CEO he wants. We will do the rest."

"At the same time, tell Ethan Jones that we can accept Apple's pre-investment valuation of 300 million, but our investment amount is still only 10 million. However, this time we will only take 10% of the post-investment. A nine-member board of directors still needs to be established, and this time we will take seats according to equity."

"Because whether it's the construction of North American channels or orders from universities across the United States, they can make up for their financial losses. Since they want to make the company's business better, they must show some sincerity, right?"

"Then, you told Ethan Jones that I needed to see their next-generation product, a product with stronger market competitiveness, before investing."

The continuous arrangement was faithfully recorded by two subordinates.

While they were writing furiously, Lawrence Rockefeller thought again.

Finally, he added, "After the investment is completed, you should make an announcement to the outside world, telling the outside world that we, Wenrock, have acquired 10% of the shares of Apple, which is valued at 300 million, at a price of 10 million. And we will fire Steve Jobs as the CEO of the company."

'...'

When these words came out, the two people who were recording the boss's request paused.

"Boss, what do you mean?" They were puzzled.

"Your actions are sending a message to the outside world that we are not on good terms with Apple!"

“Although we currently have some conflicts with Apple, after the investment…”

"Aren't we a family?"

"after all……"

“Business is business?”

The two of them made suggestions anxiously.

"Ha ha ha ha--"

The subordinate's words made Lawrence Rockefeller laugh.

"You two are right, business is business! But investment has never been a business!"

“Investment is not in companies, but in people!”

"At the same time, there will always be many companies in an industry."

“Why should we choose Apple over others?”

“First, because they do better than most of their peers! Second, because their ideas and technology are good! Third, because their founders seem more worthy of success!”

The two white subordinates frowned slightly.

Lawrence Rockefeller, in a good mood, smiled and explained to them:
"Do you know the difference between the first generation of rich people and the second generation of rich people?"

"The first generation of rich people step on everyone to get to the top! The second generation of rich people enjoy the respect of the world!"

"If the first generation of rich people want to be successful, they have to kill all their competitors!"

“I don’t know if there are other ruthless people in the computer industry now, but Ethan Jones obviously has this awareness. He founded the company two and a half years ago, but he has been attacked by three giants?”

"In that case, let him continue to fight!"

"If he keeps winning, we'll keep holding Apple stock!"

"This may be a bit cruel to him..."

"But he'll thank me later!"

A bright smile appeared on Lawrence Rockefeller's face.

But on this warm seashore, the two white subordinates still felt the cold of winter.

"Okay...Ok..."

They swallowed and answered carefully.

(End of this chapter)