"Our plan is to thoroughly occupy the leading positions on the portal websites of 120 major countries worldwide before this Christmas, while simultaneously constructing an entire online advertising alliance centered around Yahoo, bringing all websites and advertising companies across the globe into this alliance. They will be able to promote their products online at reasonable and cost-effective prices, thereby driving the shift from traditional channels to online channels!" Jerry Yang declared with great enthusiasm at the press conference.
Undoubtedly, this was the most glorious day of Jerry Yang's life. Under his leadership, Yahoo had successfully achieved a market capitalization exceeding 150 billion US dollars.
This was an unprecedented achievement for a purely virtual network company. After all, companies like Amazon, Microsoft, and Cisco, while appearing to be network enterprises, had their roots in physical production. Even Microsoft's foundation lay in its Windows system, a tangible software provider with actual product sales.
Yahoo, however, possessed none of these. It relied purely on network services to reach an astonishing market share of 150 billion US dollars.
And this was achieved after the collapse of the dot-com bubble in 2000.
In fact, Yahoo's market value had reached 1.2 trillion US dollars back in 2000. But with the bursting of the dot-com bubble, Yahoo's market value plummeted to around 50 billion US dollars.
At that time, many declared Yahoo finished. Yet, under Jerry Yang's leadership, Yahoo had rebounded to 150 billion US dollars.
Today marked the day Yahoo announced its first-half financial reports, and Jerry Yang, through a small press conference, presented Yahoo's future development to all Yahoo investors.
"In summary, Yahoo's development goals for the next five years are very clear: to continue expanding and consolidating Yahoo's leading position in portal websites, while actively developing its search engine business, instant messaging services, email services, and e-commerce business!"
"Concurrently, Yahoo will also become an investment company, investing in many emerging enterprises in the network industry. For instance, a week ago, we reached an acquisition agreement with China's 3721 company, acquiring 3721 outright for 120 million US dollars. Then, using 3721 as a stepping stone, we will completely penetrate the Chinese online market!"
"Furthermore, we believe that 3721, and the network assistant model it represents, is highly beneficial for the use of the internet across different countries, languages, and scripts globally. We intend to promote the 3721 model across all Yahoo websites worldwide..."
As Jerry Yang concluded his speech, warm applause and cheers erupted. Many Yahoo shareholders let out excited shouts, which Jerry Yang greatly relished.
Soon after, Jerry Yang's address concluded, transitioning to the Q&A session for reporters and small shareholders. The reporters, being very cooperative, asked questions that highlighted Yahoo's impressive performance, which Jerry Yang answered magnanimously, creating a joyful atmosphere.
Suddenly, a reporter raised their hand and asked, "Mr. Yang, Google and Yahoo have been separate for over a month now. How would you evaluate Google's current development? I heard you were very unhappy when Google left Yahoo!"
Upon hearing this question, everyone stirred, their curious gazes fixed on Jerry Yang.
As time passed, many became aware of the story of Google's departure from Yahoo. It detailed how Google, with the help of a Chinese company, investments from Westside Horse Company, and Yahoo's own arrogance, had silently reclaimed all its user data from Yahoo, thereby escaping Yahoo's control and achieving independence.
This story had become a widely discussed topic in society. It was even rumored that two or three universities were preparing to incorporate this narrative into their textbooks as a classic case study, teaching students how to achieve data independence from large network corporations.
In essence, this was an event that greatly embarrassed Yahoo. It was said that Jerry Yang had almost destroyed his office at the time. Now, with the reporter directly bringing up Google, it was feared Jerry Yang might lose his temper again.
However, to everyone's surprise, when Jerry Yang heard the question, a smile spread across his face. "I respect Google's decision to leave Yahoo. I was indeed a bit unhappy at the time, but now I am grateful for the decision Google made!"
"It was precisely because of Google's departure that we, who were still hesitating, decided to fully commit to Yahoo's search business. Consequently, we successfully launched Yahoo Search across Yahoo a week ago, a full six months ahead of schedule!"
"Through Yahoo Search, we can complete the final piece of the entire Yahoo enterprise, filling our shortcomings. From now on, we will no longer need the assistance of third-party search engines."
"This way, users can experience direct link navigation and efficient website guidance services like keyword searches directly through Yahoo's website. Simply put, from now on, users will only need Yahoo; they won't need any other guiding website services!" Jerry Yang's words were met with widespread applause, and the launch of Yahoo Search was indeed the reason for Yahoo's market capitalization surpassing 150 billion US dollars.
In the market's view, Yahoo had indeed filled the last gap in its commercial landscape, much like a Digimon evolving into its ultimate form, becoming invincible with no rivals. This surge in Yahoo's stock price was a direct consequence.
Therefore, Google's situation was no longer a painful point for Jerry Yang. On the contrary, it had become a source of satisfaction. In Jerry Yang's eyes, it was precisely because he had decisively shed Google, like a malignant tumor, that Yahoo had been able to develop so rapidly.
Thus, the reporter's question did not discomfort Jerry Yang; instead, it secretly delighted him.
"Huh!" Amidst the harmonious atmosphere of the press conference, several reporters suddenly exclaimed in unison, their eyes glued to their phones. Jerry Yang noticed something amiss and directly asked from the stage, "Friends from the press, has something happened?"
"This..." The reporters appeared hesitant. Finally, a stout, forthright female reporter said, "Mr. Yang, we've just seen some changes in the stock market via our phones. Yahoo's total market capitalization is fluctuating around 150 billion US dollars, and it has now adjusted back to 147 billion US dollars!"
"Ahem!" A commotion instantly erupted, and everyone turned their curious gazes toward Jerry Yang.
Jerry Yang and Yahoo were celebrating their total market capitalization exceeding 150 billion US dollars, only for it to drop back. Wasn't that incredibly awkward?
Jerry Yang's expression indeed became considerably distressed, but he quickly regained his smile. "Stock market fluctuations are normal; there's nothing to be concerned about!"
"It's 147.2 billion, and it's dropped to 142 billion!" Ten minutes later, several reporters called out again, disregarding the occasion.
Dropped to 142 billion?
Jerry Yang's expression was no longer as composed. When he recalled the press conference being held, Yahoo's total market capitalization stood at 152.2 billion US dollars. Now, it had fallen to 142 billion US dollars. This meant a loss of 10 billion US dollars in market value within an hour; the fluctuation was quite significant.
"Almost, dear reporters, are your data accurate?" Jerry Yang couldn't help but ask. "You're probably monitoring stock market changes via text messages, right? Data sent via mobile phones can have delays and may also contain errors. Is your data accurate?"
"Of course, it's accurate. This is Google's newly launched mobile stock advisory service. It displays the latest stock price changes directly on the phone and refreshes every minute. There won't be any issues!" the reporter replied instinctively, then realized they might have said something they shouldn't have.
Indeed, looking at Jerry Yang, his expression had turned ashen, like that of someone facing a slaughter. However, Jerry Yang clearly couldn't lash out at the reporters on stage, so he could only force a smile.
"I know, I know why Yahoo's stock price is plummeting!!" Suddenly, another reporter exclaimed, drawing all eyes in the room, including Jerry Yang's, towards them.
"Heh heh!" The reporter realized they had lost their composure but, seeing everyone staring intently, knew they had to say something. So, they said, "I just checked Westside Horse Company's public accounts and found that they sold off 20 billion US dollars worth of Yahoo stock within an hour, which led to the sharp decline in stock prices!"
"Westside Horse Company? Where did they get 20 billion US dollars worth of Yahoo stock?" some financially savvy reporters muttered to themselves.
"Of course, they shorted it. Didn't you know?" the reporter who found the information quickly said. "About half a month ago, Westside Horse Company's second phase fund had just completed its fundraising. Then they directly announced their next investment strategy, which clearly stated their intention to short Yahoo stock, and with 20 billion US dollars at that."
"Oh, I seem to recall that." Many reporters suddenly remembered. This news had caused quite a stir at the time. However, as Yahoo's stock price continued to rise, many felt that Little Swift was too presumptuous and was bound to fall.
In reality, Little Swift had indeed gotten ahead of himself. After announcing his intention to short Yahoo, there seemed to be no follow-up, as if he had completely forgotten about it. The media attention gradually subsided. Who would have thought he would make his move now!
"Found it!" Soon, another reporter said, "Yesterday, Westside Horse Investment borrowed 20 billion US dollars worth of Yahoo stock from a total of 13 institutions and then sold all these 20 billion worth of shares at the highest point today."
"The total borrowing period is three months, meaning Westside Horse Company is confident that Yahoo's stock price will plummet within three months. And considering the interest rates for short selling, the pressure from selling, and the costs of recovery, Yahoo's stock price must fall back below a total market value of 130 billion US dollars to yield a decent profit!" another reporter summarized.
These reporters were all engrossed in discussing Westside Horse, completely sidelining Yahoo, the actual protagonist of the event. Jerry Yang's face was so grim it looked like he could devour people.
[Much has happened today, so only two updates. I fear I won't be able to complete the 50 bonus chapters this month and will make them up next month. My apologies.]