American History 1988
Chapter 342 - 331: Business Never Ends

Chapter 342: Chapter 331: Business Never Ends

After a few minutes, Moritz returned to the trailer the same way he had left.

Who he called outside was unknown to David and the others.

However, Moritz seemed to still be intent on investing in Yahoo, even deepening his discussions with David and his team this time.

Unlike his initial role as an interviewer, Moritz had now skillfully transitioned to an investment advisor.

He knew he would face competition, not just because of Dean but also from other peers in Silicon Valley.

In the recent conversation, Moritz had learned that members of the Draper family had visited here.

It was even said that AOL had also made an acquisition offer to David and his team, clearly, Yahoo had attracted attention.

To outmaneuver these competitors, Moritz asked some sensitive questions and then listened carefully to their responses.

He was trying to reach into the hearts of these young people and resonate with their values.

When an idea showed exceptional promise, it was time for the venture capitalist to pitch themselves.

The most significant change was that the venture capitalist no longer questioned the founder’s ideas.

Instead, they began to align closely with the founders, whether philosophically or in terms of business operations.

And through their conversation, Moritz also discovered that among this odd duo, Yang Zhiyuan was subtly the final decision-maker.

This surprised Moritz, as David seemed to obviously exceed the latter in both experience and status.

But their collaboration was complementary, and David showed no dissatisfaction.

As the topic of their conversation deepened, Moritz increasingly understood why, seeing immense potential in Yang Zhiyuan becoming a marketing guru.

He had thick black hair and wore collegiate corduroy pants.

A broad, toothy smile hung on his face, making him appear enthusiastic yet gentle.

"By the way, what do you think about the name ’Yahoo’? Should we change it to something more serious?"

In the midst of their engaging conversation, Yang Zhiyuan suddenly discussed the website’s name with Moritz.

"No, Jerry, believe me, ’Yahoo’ is a great name!

If you really want to do that, KeyPoint Ventures might very well pull out of Yahoo’s future financing."

Moritz immediately dismissed Yang Zhiyuan’s proposal without even thinking about it, as he had already grown fond of the name.

As said earlier, coming from the media industry, he believed that playful names could sometimes be highlights that attract attention.

Moreover, Moritz’s objection was based on reasons he had never imagined.

During his years as a journalist, he had written a book about Steve Jobs.

Now, he firmly believed that "Yahoo" was a precious name.

It was an inspiring, memorable company name, just like Apple.

Moritz, like others in Silicon Valley, knew Jobs well and sensed some connection between the obscure Yang Zhiyuan and the legendary Steve Jobs of Silicon Valley.

In this regard, he was most qualified to speak.

His past as a journalist and his published book could prove this.

It must be said that Moritz’s words successfully ignited a sense of mission in Yang Zhiyuan.

Even including David, since "Yahoo" was something they had created themselves.

This sense of mission was ultimately a temptation, even for the most confident founders.

The two exchanged looks and then shrugged their shoulders, "Maybe we should give Dean a call?"

Hearing their consultative words, Moritz excitedly clenched his fist.

His efforts had not been in vain; the young men had recognized him.

...

While Moritz was visiting the Stanford trailer, Valentine was frantically dialing Dean’s number.

"Dean, do you want to pocket the whole internet?!"

"Valentine, I don’t remember my business conflicting with Sequoia Capital~"

While Dean was playing with little Arthur on the lawn, he handed the little guy over to Jennifer Connelly.

"Now there is!" Valentine’s voice sounded frantic.

"Why are you always one step ahead? Why does every business related to the internet have your shadow?"

Dean, standing hands on hips on the lawn, was taken aback, "Valentine, what are you referring to...?"

"Yahoo!" Valentine said irritably, "Today Moritz was planning to speak with the genius founder behind it.

But guess what? He encountered David there, and someone had already beaten him to the punch.

Dean, you’ve beaten Sequoia Capital to the punch again; you’re nearly doing all the business in Silicon Valley."

"Well, Valentine, things are a bit coincidental. I also only recently became aware of this website.

Then David contacted me because Yahoo needed to use one of my technologies.

You know what happened next, as a good friend, I felt obliged to help David and the others get Yahoo on the right track."

Dean spoke righteously, and he hadn’t indeed locked down this business opportunity well in advance.

If David hadn’t reached out to him, it’s likely that venture capitalists like Valentine would have known about this site before he did.

His current business was already plentiful, leaving him little time to keep up with the nuances of the internet’s development.

Take Yahoo, for example; a month ago, it was still called "Zhiyuan World Wide Web Guide", with clicks still under a million.

But after tying up with Explorer browser and adding a search engine feature, Yahoo’s click count started to soar like a rocket.

The pace of the internet’s development is astounding, with a month’s time sufficient to shape yet another household name website.

Silicon Valley venture capitalists were striking out everywhere, and it was no surprise that Yahoo had become a target.

However, Valentine was very dissatisfied with Durell’s rather casual explanation.

"Durell, your technical expertise is beyond doubt, and your achievements in the IT industry are well-known to everyone.

Even any idea you propose is beyond skepticism here in Silicon Valley.

The Netscape and Price lists have proven this point.

If we look back at your investments over the past few years in AOL and Intuit.

All of these illustrate one thing, that your vision in the internet field is unmatched by anyone.

But this does not mean you can do all the business by yourself. Silicon Valley is a collective, and we are all part of it.

Think about the Netscape and Price lists; everyone knows their potential might even be bigger than Yahoo’s current stature.

But no one targets them because people within the circle know they’re your business.

However, this can’t be extended to the entire internet sector, as this is the bonus Silicon Valley will reap over the next ten to twenty years.

You need to learn to share, Durell. Seattle is despised by the entire Silicon Valley because it has become greedy."

Although Valentine’s earnest advice stemmed largely from self-interest, it was not unreflective of the attitude here in Silicon Valley. Lately, Durell’s rapid conquests in the internet sector were overwhelming.

Counting all the popular business deals online, they were almost all related to Durell.

This, in itself, wasn’t a problem since transforming an idea into a business requires the involvement of venture capitalists.

But Durell was too wealthy; his fortune exaggerated to the point that he could disregard the losses that came with failed investments.

This led to a result where he shut out all other venture capitalists.

Venture capitalists themselves aren’t very powerful, the real influence lies with the investors behind them.

If Durell consumed all the dividends, it meant that others would get a smaller slice of the cake.

Now Valentine was furiously calling him, indicating that Sequoia was truly desperate.

Netscape had been snagged by KeyPoint Ventures, now when they had finally discovered Yahoo, Durell had already made the first move.

Having no choice and already planning on retiring, Valentine had to call Durell again.

"Valentine, honestly, these businesses weren’t impulsive decisions on my part.

I operated the Price list for over five years, and Netscape for a year and a half, only the recent Yahoo was a coincidence.

I paid my dues; all these are rightfully mine, and I have not rejected investments.

Look, Durell can confirm this," Durell stated, playing innocent.

"I know, Durell. That’s why I’m calling you now, Yahoo needs help.

David is not suited to be a leader, Jerry Yang is talented, but he is too young.

And you, Durell, are too busy. This is the perfect time for venture capitalists to shine; this is what we excel at."

Venture capitalists are the best teachers for entrepreneurs; they teach these young people how to manage a company.

"All right, Valentine, let’s hear your thoughts." Durell didn’t really have the time, nor was he interested in monopolizing the deal.

Although Yahoo was hot at the moment, turning it into a successful business was not that simple.

Now that Valentine had approached him, Durell decided to go with the flow.

At hearing him relent, Valentine immediately felt exhilarated.

"Of course, Sequoia joins the game, then we find the right executives for them, and quickly get Yahoo on track.

Or..." Valentine paused, "if, Durell, you plan to take personal responsibility for this,

then hand over the Price list to Sequoia. We don’t mind giving up on Yahoo."

"Let’s stick to discussing Yahoo," Durell directly ignored his proposal since the Price list was already making money.

"All right," Valentine was slightly disappointed, but he quickly engaged in a new round of negotiations.

"Sequoia as Yahoo’s lead investor, and we take at least one-third of the shares."

"20%, at most," Durell replied succinctly.

"Damn! We’re top-tier venture capitalists, we could also talk to David and Jerry."

Valentine responded furiously, Durell’s stinginess with shares had not changed at all.

With any other company, Sequoia could easily secure a third of the shares.

"David won’t agree," Durell’s remark left Valentine speechless.

"Durell, business isn’t done this way; we invest money, provide networking resources, and even help them operate the company..."

"Right, we haven’t yet settled the valuation problem for Yahoo," Durell casually interrupted his complaints.

"Let’s discuss that later, just 20%!" Valentine, fearing further bargaining, quickly made a firm decision.

"OK, no problem here, you go convince David and the others."

Upon hearing Durell’s response, Valentine curled his lip.

Now he respects David’s opinion? Why didn’t he show such consideration when discussing the funding and shares?

"Moritz is visiting there; I believe we will have good news soon."

Though he curled his lip, Valentine was quite pleased internally.

They might have missed out on Netscape, but now they had Yahoo; the internet business was indeed fascinating.

No sooner had Durell hung up the phone than someone else called.

Alright, Valentine was right, David had indeed called him.

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