My Age of Investment

  Chapter 996 Back

  At night, Peter Thiel called Xia Jingxing and invited the latter to go to the bar together.

  When Xia Jingxing arrived at this elegant bar, Peter Thiel was already sitting by the railing on the second floor, drinking alone while enjoying the singing and dancing performances on the big stage downstairs.

  "Daren~"

   Peter Thiel got up with a smile on his face, punched Xia Jingxing, and beckoned the latter to sit down.

  "What have you been up to lately? Busy dating high-class ladies in New York?"

  Peter Thiel joked: "If you want me to say, what is the meaning of women, it will only affect the speed at which we make money and slow down our career development."

  Xia Jingxing scratched his head, you are not interested in women, doesn't it mean that I am not interested? I'm the man you can't break in your whole life.

  Seeing Xia Jingxing's silence, Peter Thiel smiled. He was just joking and didn't mean to force his sexual orientation to others.

  "The special fund has been fully liquidated, and it will all be transferred to your designated overseas account within this week."

  Peter Thiel poured himself a glass of wine, raised his head and drank a big sip, then said: “The outside world thinks that Claire Capital has made 14 billion U.S. dollars, but in fact it is all working for you.”

  Fearing Xia Jingxing’s misunderstanding, Peter Thiel hurriedly added: “I’m not complaining, on the contrary, I want to thank you.

  Following you, Claire Capital has also earned more than 3 billion US dollars.

  At the same time, benefiting from this industry's top performance, as many as tens of billions of dollars of funds poured into Clarion Capital last year.

  Even after deducting your special fund with a scale of 10.6 billion U.S. dollars, the scale of asset management of Claire Capital has reached nearly 20 billion U.S. dollars.

  The outside world now ranks Claire Capital alongside your Vision Capital, and considers it to be a strong competitor of the world’s top ten hedge funds this year. "

  Speaking of this, Peter Thiel spread his hands, “To be honest, the scale of asset management has skyrocketed, and my team and I don’t know how to invest. This is really a trouble of happiness.”

Xia Jingxing smiled. Peter Thiel’s Claire Capital was only a mid-sized hedge fund with a management of 3 billion U.S. dollars in the previous year. The scale of asset management has soared by nearly 7 times in a short period of time. On the surface, this is of course a good thing, but At the same time, higher requirements are put forward on the ability and investment level of the management team.

  He once told Abel, Liu Hai and others that the sudden increase in the scale of asset management is not necessarily a good thing.

  Because of the large amount of funds, it has become a big fish in the market. Many investment strategies in the past have failed, and the company needs to change up and down.

  If you cannot adapt to this transformation, the consequences will be catastrophic.

  New funds emerge in the market every year, but most of them will disappear after they become larger. The most popular ones in the market will always be the old funds, such as Qiaoshui and Deshao.

  This is the reason, I can’t hold on to the money!

  "Some changes are needed to allow the company to maintain this size, otherwise it will be a meteor that pierces the sky. Although it is dazzling, its existence is very short."

  Peter Thiel nodded slightly, "Yeah, you are right."

  Looking at Xia Jingxing a few times, Peter Thiel wanted to say something. He wanted to ask the other party about the next investment strategy of Vision Capital, but it was not convenient to ask about such high confidentiality even if it was a friend.

  He simply offered some suggestions and talked about the general direction of Clay Capital's next investment: "I want to invest in U.S. dollars and oil next."

  Xia Jingxing did not ask the specifics, nodded and said: "This is a good direction. The next direction of Envision Capital should be the old bank, the stock market and the foreign exchange market."

  Peter Thiel wanted to ask more questions, but seeing the attitude expressed by Xia Jingxing, he didn't seem to want to talk in depth.

  He understands this, but he still feels a little uncomfortable in his heart.

  I've thrown a lot of thoughts, but the other party still has such a strong guard mentality.

  And I am not asking for it unilaterally. I will share some market information collected by Clarion Capital, which is mutually beneficial to both parties.

  He felt that Xia Jingxing had changed, and he no longer had the atmosphere and boldness of the past.

  In other words, the other party has not changed. Take this short subprime loan as an example. The other party stated that they wanted to use the name of Clarion Capital to engage in such an action that could easily lead to infamy.

  They did get some benefits from Claire Capital, but they deserved it.

  If the other party does not keep a hand, share more research reports on the subprime mortgage derivatives market as soon as possible. They will not only make more than three billion US dollars.

  Special funds have a floating profit of more than 9 billion US dollars. According to industry rules, they can share at least 20%.

  Because my mouth is broken..., it should be generous and exempt all expenses.

  From the bottom of his heart, he felt that he had already paid off Xia Jingxing’s favor. Everyone evened each other, and no one owed anyone.

  The singing downstairs is pleasant, but neither of them is in the mood to listen.

  Xia Jingxing can actually guess that Peter Thiel would have some opinions about himself.

  But he doesn’t care!

  I let Claire Capital lie down and win once, and the development is much better than in the previous life.

  The previous life of Claire Capital had only $6 billion in asset management scale at this time, and now it is Wall Street’s second largest short-selling fund after Paulson.

  If Paulson is an empty god, Peter Thiel can also be an empty god.

  I have enough interest for Peter Thiel, but the other party’s desire gap is difficult to fill, and he even wants to inquire about their second wave of actions.

  Simply hand over the management of Claire Capital to me! Xia Jingxing felt that the other party was too unsure.

Peter Thiel didn’t want to make the relationship too stiff, at least he wanted to live a good life, so he changed the subject and talked about Palantir Big Data Company and Facebook, as well as a series of founder funds such as LinkedIn, Yelp, Slide, etc. A startup company co-invested with Envision Capital VC Fund.

   "The listing of Facebook should be shelved, right?"

  Peter Thiel said with a smile on his face: “I also hope that the listing of Facebook will bring an epic return case.”

  Xia Jingxing also treated as a okay person, smiling and replied: "Yes, your wish will come true, but the time may be for a while at night."

   "Reid intends to start LinkedIn’s D round of financing, and at the same time he wants to hire a professional manager who is more proficient in commercialization to replace him as CEO. You know, Reid wants the company to go public as soon as possible."

Xia Jingxing nodded slightly and said that he understood that he had been paying attention to the development of LinkedIn. This company has been profitable the year before, and has maintained a rapid growth rate. It currently has more than 30 million registered users and nearly 100 million U.S. dollars in business. Received.

   LinkedIn is not short of money now, and financing is only a small amount of equity dilution.

  However, in the C round of financing last year, he personally and Vision Capital continued to invest in a round, and still firmly holds 11% of the company's equity.

   is not particularly high, but it can also be a bite of the cake.

The United States is no better than domestic ones. It can only take advantage of the opportunity to obtain more equity in high-quality startups in the early stage. Once the startups have grown up, it is difficult to have the opportunity to acquire a large amount of equity. The upside down market value cuts three liters of vomiting blood.

   "Mark Pincus founded a social gaming company named Zynga Xingjia. Several of their games are on the open platform of Facebook, and the results are very good. I wonder if you have followed?"

  Xia Jingxing nodded slightly. He has paid attention to this company. It has been established for a while, and its development is faster than in the past. It should have been greatly stimulated by domestic games.

  However, domestic social games are beginning to go down a bit, and domestic games do not plan to keep deep in this field, so they will not form a big competition with Xingjia.

  Moreover, Xingjia’s business ideas are very distinctive. It treats game products as Internet products and quickly manages: launch products quickly, and maintain and update products at a faster speed.

How fast is   ? Update several times a week.

  Star Canon’s success is also due to a reason. It has a good set of operating such short-lived social games, and knows how to keep users fresh about the game.

   "Pinkas thank you very much for letting him invest in Facebook, and Xingjia now maintains a good cooperative relationship with Facebook, so he hopes that Envision Capital can lead Xingjia's round of investment.

  Last year, he and several co-founders raised money to start a business. This is Xingjia’s first round of external financing. The first financing object he thinks of is you. It can be seen that Darren, you are still very good friends in everyone's mind. "

  Xia Jingxing smiled slightly, not necessarily enough to be a friend, just holding resources in his own hands.

  Talked with Peter Thiel about these start-ups. Thinking of the happy cooperation time everyone had in the past, Xia Jingxing reflected on it in her heart. Did she do something wrong?

   Soon he abandoned this idea. Hedge funds are not like venture capital funds. In the strange secondary market, no one dares to really give their backs to others.

  　 There are relatively few updates in the past two days, so let’s add a chapter.

  (End of this chapter)