I am the only one who practices magic: I practice magic in the city

Chapter 394 Promotion (4632)

With the BBC's "reverse assist", Robert Lee could only blame himself for his bad luck, and at the same time asked Qianxun's public relations team to urgently issue a statement in response to the BBC.

But none of these could prevent Qianxun from having to shut down for inspection.

Four hours after Qianxun’s “content management” failed, Qianxun shut down its server for another inspection.

Although the continuous major failures made more people pessimistic about Chihiro's future, no one thought that Chihiro would really be finished.

Even Robert Lee himself didn't think so.

As long as she can get through this period, Chihiro will definitely return to normal!

Robert Lee kept encouraging himself.

He encouraged himself, but it made Rainstock and Jason Hawthorne very angry.

That's three billion dollars! Three billion dollars!

Enough to bring about positive changes in a medium-sized country!
It can at least incite members of Congress to siege Congress ten times.

The funds from BlackRock just arrived and you shut down the service. What on earth do you want to do?
If Qianxun still cannot restore access when the Mai stock opens in the evening, how low will the stock price fall? !

But the problem is that any pressure on Robert Lee is useless now. Obviously, this is completely force majeure. If Qianxun wants to restore access, she must either eliminate the fault or withdraw from Da Zhou like Google did.

The question is, outside of Da Zhou, is there anyone who still uses Qianxun?

There was no other way, so Rainstock and Jason Hawthorne had to contact Goldstein as soon as possible to see what to do next.

This is the first time that BlackRock's alternative investment business has encountered such a blunder.

How come a business that could both make money and suppress the development of Youzi Technology suddenly seems to be losing money now?

"Based on public reports from various sources and combined with data in the Aladdin system, since they have never released a complete incident investigation report and a notification on the cause of the failure, Woking believes that this transaction has systemic risks and Qianxun is very likely to experience a similar outage again. Based on the requirements of the business department, I approve this report, but I still hope that the business department can treat this risk with caution."

Jason Hawthorne suddenly remembered the approval opinions given by the woman named Jane in the OA system.

Could it be possible that this woman really said it?
Why do I always have a feeling that a storm is about to come?
-
Boom!

There was a flash of lightning in the sky, and then a bolt of lightning struck the lightning rod in Manhattan's Park Avenue Plaza, and the heavy rain that seemed to have been held back for two days came pouring down.

Manhattan Park Avenue Plaza has a history of more than 12 years and is one of the more famous skyscrapers in Manhattan. BlackRock rents floors here, with a total office space of square meters.

"Boss, since the investment decision has already taken effect, it doesn't make much sense to talk about any foresight now. And according to the traditional risk model, this is indeed a good deal."

In response to Robert Capito's praise, Jiang Nanzhen simply tied up her hair, spoke softly, and then did not express any opinions.

Goldstein glanced at Jiang Nanzhen with a cold face. He was a little surprised that this woman didn't say anything like "I have reminded your business department before".

"Only a business that doesn't lose money is a good business, but I think it's worth it to use a losing business to exchange for a clear-headed talent." Robert Capito subconsciously covered the wedding ring on his left ring finger with his right hand, gently turning it, and gave Jiang Nanzhen an encouraging and charming smile.

On the one hand, moving one's aura and body is one thing; on the other hand, for wealthy people at the level of Robert Capito and Larry Fink, every move has been designed and trained by their image packaging team.

Therefore, Robert Capito is still very confident about his smile.

"Boss, this is just an isolated incident." Goldstein said in a deep voice, "For a company of Qianxun's size, there is no technical problem that cannot be solved. This doesn't mean anything."

Hearing Goldstein's words, Robert Capito's eyebrows twitched twice.

"Because it is a large company, it is more difficult to solve this problem that has occurred twice."

BlackRock's chief technology officer, Derek Stein, took off his glasses, rubbed his Jingming acupoints, put them back on, and looked at Goldstein, who was frowning.

"According to the real-time information sent back by Synopsys, as expected, Qianxun also has the problem of 'shit mountain code', which is very difficult to review. And from their professional perspective, they have not found out what caused the failure of the 'content management' mechanism."

Synopsys is also a Nasdaq-listed company that has been established for more than 30 years and is considered one of the infrastructures of the global IT industry.

In addition to code security and quality review services, Synopsys is also a leader in electronic design EDA and semiconductor intellectual property, with branches all over the world, and Da Zhou is no exception.

This time, BlackRock hired the Synopsys Dazhou Security Review Team to conduct an emergency third-party code review on Qianxun.

Robert Lee didn't want to agree at first, but under BlackRock's threat of "failure to disclose key matters during the financing process", he had no choice but to allow Synopsys' people to enter the site.

"This shows that the fault is hidden very deeply." Facing the frowning Goldstein, Derickstein sighed.

"Qianxun's search results page carries billions of traffic every day, involving the operation of many product lines and downstream modules. In the front-end alone, more than 30,000 lines of code are changed every month, and more than 100 developers collaborate on the same code base."

"In this case, I don't think Qianxun will be able to find and fix this bug in the short term, so we still have to have a plan for Qianxun to be down for more than three days or even longer. Oh, today is already the third day, and in one more day, it will be the fourth day. The last time Qianxun had a similar fault, it took four days to fix it. If it exceeds four days this time..."

Derek Stan didn't say anything more, but everyone knew what he meant.

If Qianxun can eliminate the fault and restore access within four days, and no similar problems occur in the following months, Qianxun's stock price will still recover.

Now, although Qianxun’s market value has received 7.5 billion U.S. dollars in strategic financing, it is still falling all the way. It has fallen by 220% in four days, and its market value is less than billion U.S. dollars.

Although BlackRock invested in Qianxun in order to contain Youzi Technology and Ysou, it does not mean that they are willing to do a losing business.

And this is 3 billion Malaysian dollars!

Although BlackRock manages assets worth 5 trillion US dollars, they themselves are investing with investors' money. If they lose money, the performance of the alternative investment department will decline, which will affect the ETF and fixed income departments, which will have a huge impact.

If Qianxun’s crisis continues to ferment, it may also trigger the market’s overall concerns about the growth stability of technology companies, thereby affecting related ETF products and other investment portfolios.

In modern financial society, a single move can affect the entire body. The CDO explosion during the subprime mortgage crisis was caused by the default of MBS debt worth tens of millions of dollars.

Before the Alcatraz incident, the Federal Reserve was in a cycle of raising interest rates. Under such economic conditions, Qianxun’s problems would not trigger systemic financial risks.

However, if this investment in Qianxun results in a relatively large loss, it is inevitable that BlackRock's profits this year will plummet and investor confidence will be affected, leading to a decline in the size of its managed assets.

"This may not be a bad thing." Robert Capito's eyes flickered as he looked at Goldstein and Derek Stein, then glanced at Jiang Nanzhen seemingly casually. "I heard that the Woking system successfully predicted Qianxun's outage this time, Jane, is that true? This is really surprising, can you share some relevant information with us?"

Robert Capito spoke in a calm tone, and every word was spoken clearly.

Goldstein frowned slightly.

He knew that Robert Capito was very interested in the Woking system, and he also admitted that the Woking system based on the large artificial intelligence model was definitely more advanced than the Aladdin system from a technical point of view, but now that every company was making large models, he preferred to do it himself rather than acquire it.

At least, the company should not acquire products from a Dazhou company, especially since this company has an unclear relationship with Youzi Technology.

Maybe it was intuition or something, but he just couldn't muster any good feelings towards the company Yuzi Technology. He vaguely felt that the company was very strange and didn't seem like a normal business company at all, but had other purposes.

And the purpose is very disadvantageous to them.

But he couldn't stop Robert Capito. After all, the core of the Aladdin system itself came from Black Rock and Merrill Lynch. In the modern business society, no company's products are developed from scratch.

Even Apple, which likes to do everything on its own, used UNIX to rebuild MacOS after Steve Jobs returned more than ten years ago. This is a very normal thing.

He was well aware that not only Robert Capito but also other executive committee members did not take him seriously. After all, for them, there was no reason not to acquire a system that could expand the scale of assets under management for BlackRock.

After all, this can save a lot of development time and reduce financial risks.

Every major upgrade of a system like Aladdin may require hundreds of millions or even billions of dollars in expenditure and two to three years of research and development.

If you can save these two to three years at some cost, not to mention how much money you save, the sooner you enter the market, the more money you can make.

Moreover, Chihiro's situation is still unclear, and this woman successfully predicted Chihiro's crisis, which slapped him in the face. At this time, the boss praised this Da Zhou woman and showed interest in the Woking system, and he really had no position to refute.

Hearing Robert Capito's words, Jiang Nanzhen lowered her head and smiled a little embarrassedly: "As one of the developers, according to the agreement between me and the 404 Foundation, although I no longer have the administrator account of the Woking system, I still retain the user account of the Woking system."

"So I asked the Woking system to conduct a comprehensive analysis of Qianxun's current public reports and some internal data in the Aladdin system. The conclusion drawn by the Woking system is that Qianxun's response to the media does not conform to the general handling method of media public relations after the crisis is resolved."

"In the accident cause analysis and investigation report submitted to the Great Zhou Yi'an Prefecture, the Woking system found thirty-two unreasonable or erroneous points."

“The Woking system uses natural language processing to analyze the wording deviations, logical inconsistencies, and timeline mismatches in the accident reports.”

"Combined with the comments made by its original security team on the Internet after they left, and combined with Qianxun's historical data recorded in the Aladdin system, the Woking system came up with a prediction of an unresolved rate of up to 88.75%."

Jiang Nanzhen seemed a little nervous and whispered: "I just told everyone the reasoning results of the Woking system. This is not my personal ability."

"No matter how good the F35 is, it still needs good pilots to fly it. What's more, you are the one who built this plane, hahaha." Robert Capito laughed heartily. "You people of Da Zhou believe that modesty is a virtue, but this is Mai Country. You will suffer if you do this."

When Robert Capito said this, almost everyone at the scene looked at him sideways.

In the workplace, understanding the thoughts of superiors is the most important skill.

As the second most important person in BlackRock, Robert Capito naturally has countless people trying to figure out what he is thinking.

His facial expressions, his mannerisms, his idioms…almost every subtle movement and expression will be magnified and analyzed below.

Robert Capito had never been so humane to anyone before.

Unlike Larry Fink, who is cheerful, stubborn and full of charisma, Robert Capito is quiet, rigorous and almost as demanding as a machine.

For example, since the establishment of BlackRock, Robert Capito has stipulated that management meetings must be held at 8 o'clock every morning without fail.

This means that this group of Wall Street elites with annual incomes of over one million dollars may just return to their homes in Scarsdale from a nightclub in Manhattan at 2 a.m., and have to take the train to Manhattan to work at 6:30 a.m.

Robert Capito himself set an example by replying to work emails as soon as the anesthetic wore off on the day he underwent cancer surgery.

You can imagine how miserable it is to work under a boss like this.

It’s not so bad for grassroots employees, as they may not meet bigwigs like Robert Capito a few times a year, as there are several layers of management in between.

But these executives are different. Each of them has been trained beyond recognition by Robert Capito and knows him very well. They have never seen this vampire so humane.

Boss's new celebrity is born!
However, no one doubted what Robert Capito thought of Jiang Nanzhen. After all, Capito's image as a cold-blooded vampire was too profound.

In addition, Robert Capito had previously discussed with Larry Fink and other members of the Executive Committee the idea of ​​acquiring the 404 Fund, and had also briefly outlined his plan to use Jane, who would jump to BlackRock from 404, to achieve this goal.

Most people present believed that Robert Capito was trying to win people's hearts and minds, and when the time was right, he would use this woman as the "link" between BlackRock and the small company 404, and bring it under his control in a lower cost and safer way.

This is actually a common method used in acquisitions. When there is an intention to acquire, either a senior executive is sent to the acquired party to find out the situation, or a senior executive is poached from the other party.

But even so, it is still a rare thing to get such a humane performance from Robert Capito.

It seems that the Boss really admires this woman.

"Boss, based on Jane's performance this time, I think she can take on more important responsibilities." Chief Risk Officer Dr. Bennett Golub said seriously.

"I am still short of a director responsible for fixed income risk control. I think Jane's performance is sufficient for this position."

Robert Capito glanced at Bennett Golub with appreciation and said, "I think so too, Ben, but don't think about it for now. I have decided to appoint Jane as the director of DEI Development Department, reporting directly to me. As you know, our ESG promotion plan has encountered great resistance recently, and we just need someone with a background like Jane to help us achieve our predetermined goals."

After that, Robert Capito led the applause, and then extended his hand to Jiang Nanzhen: "Jane, congratulations, I believe that in a higher position, you can achieve better results."

Jiang Nanzhen had an expression of inexplicable surprise yet anxiety. She bit her lip and covered her mouth for five seconds before she gently held Robert Capito's hand as if she had just reacted.

As soon as Robert Capito touched Jiang Nanzhen's fingers, his heart felt like it was electrocuted, and the emotions surging in his chest seemed to be about to burst out.

"Thank you, thank you everyone." Jiang Nanzhen's blushing face was like the sunset in the sky.

Three months to enter the Executive Committee? There are still two months left. It seems that I have to be promoted twice to complete the master's task.

(End of this chapter)