I'm in the county town, and you say I'm a big shot?

Chapter 832 It's unrealistic to expect to run a purely private company like SpaceX; you understand the risks involved.

Fang Qingye stayed in Yanjing.

But he wasn't idle; he had to hold a video conference with Bai Ou and the Oukewei team in Shanghai, and also keep an eye on the establishment of the bank's loom company.

In the evenings, when we had nothing to do, Yue Kai and I would ride our bicycles around the nearby hutongs, like "Shijia Hutong"—which is known as "one hutong, half of China," and has been home to many famous people, scholars, and diplomats throughout history.

There are also Dongsi Hutong and Lishi Hutong, where you can feel the unique tranquility and depth of old Beijing in the twilight.

Meanwhile, ByteDance's acquisition of Musical.ly has reached a critical stage. Zhang Yimin personally oversaw the process, and after several rounds of negotiations, a preliminary agreement was reached: ByteDance will complete the acquisition through a combination of cash and equity.

The specific plan is as follows: $4 million in cash, while Musical.ly's core management and key employees will receive 2% of ByteDance's equity.

Don't underestimate this 2%—based on ByteDance's current valuation of $300 billion, this deal is worth a staggering $10 billion, making it the company's largest acquisition to date.

Following the acquisition, the core team of Musical.ly will be retained and it will operate as an independent brand under ByteDance. Fang Qingye approved the transaction.

Meanwhile, ByteDance's Series D funding round is also progressing actively. This round aims to raise $20 billion, with General Atlantic and SoftBank Vision Fund having already expressed their participation.

The introduction of these top international investors is primarily aimed at boosting TikTok's globalization strategy, including the integration of Musical.ly.

During a weekend spent in Yanjing, Huang Tao invited him to go boating at Beihai Park. The spring waters were just beginning to rise, the blue waves rippling gently, and the girl softly hummed that popular song:
Let us row our oars,
The small boat pushed through the waves.

The beautiful white pagoda is reflected in the sea.
It is surrounded by green trees and red walls.

I haven't heard this song from my childhood in a long time.

Huang Tao's singing voice was clear and beautiful, and he couldn't help but laugh and say, "You sing really well, but you're missing a red scarf around your neck."

On Sunday evening, the girl came to the hotel again, this time to tell Fang Qingye some important news:
“I heard that the Ministry of Industry and Information Technology held another joint evaluation meeting, and several leaders from the National Development and Reform Commission were very interested in your ‘loom’ system, so the project has a high chance of being approved.”

"That's great!" Hearing the girl say that, Fang Qingye felt a great weight lifted off her shoulders.

Huang Tao came to talk to me about this that night, so it's most likely true.

"Ye Zi, besides the fact that the relevant department leaders are interested in your Galaxy Loom, they also trust you to get things done. If someone else were in charge of such a company and undertaking such a large project, they might not be able to support them," Huang Tao added.

"Huh? Do I have that much ability?" Fang Qingye laughed.

"Don't forget what you did for COFCO Group and CICC. They've all kept a record of it." The girl said playfully, "And those 46 Bitcoins you donated weren't for nothing. President Zhou still remembers your kindness."

Fang Qingye smiled slightly.

The international price of Bitcoin has now broken through the $3000 mark, so 46 Bitcoins would be worth $13 billion.

Of course, it's still far from being at its craziest.

"Oh, right, there's one more thing," Huang Tao said seriously. "'Galaxy Loom' Company will probably be asked to bring in state-owned capital as a strategic investor."

"State-owned capital?"

“Yes, it’s a national-level fund, similar to the National Integrated Circuit Industry Investment Fund, the State-owned Capital Venture Investment Fund, and the Central Enterprises National Innovation Investment Guidance Fund. I don’t know which one specifically, or how much they will invest or what percentage of shares they will hold,” Huang Tao said. “But I guess it should be no less than 10%, and they should also have a seat on the board of directors. You should be prepared.”

Fang Qingye nodded silently after hearing this.

"That's good. Introducing state-owned capital will benefit the development of Galaxy Loom."

“It’s unrealistic to build a purely private company like SpaceX in China, and I think you understand the risks involved,” Huang Tao said meaningfully.

"Don't worry, I already understood." Fang Qingye walked to the window, looked at the dazzling cityscape outside, and after a moment said softly:
"As you know, I have more money than I could ever spend in several lifetimes. I started the Galaxy Loom project because of a dream I have. You said a few days ago that everyone should live for what they love at least once in their life, right? Even if the Galaxy Loom doesn't belong to Fang Qingye in the future, it doesn't matter, as long as the machine is there."

Huang Tao stood quietly behind him, gazing at his back with eyes full of admiration.

The next day at work, Fang Qingye received a call from Director Wang of the Ministry of Industry and Information Technology, asking him and Professor Yang to come to the Ministry of Industry and Information Technology again.

In the conference room, the ministry leaders formally announced that the state had, in principle, approved the construction of the "Galaxy Loom" project. To support the project's healthy development, a strategic investment was decided upon.

"Chairman Fang, the State-owned Capital Venture Investment Fund, abbreviated as 'Guofengtou Fund,' is initiated by Guoxin Holdings Co., Ltd., and mainly invests in national strategic emerging industries, such as next-generation information technology and high-end equipment manufacturing. The specific investment will be made by this fund, and the amount can be discussed, but the shareholding will be at least 10%, and a director will be appointed."

Just as Huang Tao said!
Professor Yang didn't interrupt this time, but listened quietly from the side.

"We don't require an immediate reply. You can discuss it with the two Mr. Mas before making a decision," the department leader said considerately.

“Okay, I’ll get back to you as soon as possible,” Fang Qingye replied.

After leaving the Ministry of Industry and Information Technology building, the ministry offered to send them home in a special car, but Fang Qingye declined, saying that the hotel was just a few steps away and she and Yue Kai could walk back.

When Yang Weikang got into the car, he looked at Fang Qingye as if he wanted to say something but didn't.

"Professor Yang, don't worry, I will seriously consider seizing this opportunity," Fang Qingye said with a smile.

Yang Weikang nodded in satisfaction and got into the car.

Back at the hotel, Fang Qingye immediately called Huang Tao: "Taozi, just as you predicted, it's 'Guofeng Investment Fund'."

“Guofengtou? That’s a fund under Guoxin Holdings. It’s a very good company. It’s a pure capital operation platform and it’s also very familiar with our central bank,” the girl analyzed on the other end of the phone.

"Then I'll have to ask you for help when I need to communicate with the fund in the future," Fang Qingye joked.

“I’m still relatively inexperienced, so it’s not appropriate for me to ask my family for help,” Huang Tao chuckled. “But Ye Zi, you’re currently in the hearts of the central bank leaders, so you don’t need anyone’s help at all.”

After chatting for a few more minutes, Huang Tao reminded them, "Shouldn't we inform the two Mr. Mas?"

"That's right, I'll contact them right away."

After hanging up the phone, Fang Qingye took a deep breath, preparing to call "Two Mas." She wondered how they would react to this news.
He gazed out the window at the bustling traffic on Chang'an Avenue, lost in thought.

(End of this chapter)