Back to 1995

Chapter 527
There is no way in the world. If there are more people walking, there will naturally be a way. The same is true for the electronic payment industry. Before the emergence of PayPal, no one cared about electronic payment. Now, countless people have begun to regard this industry as a It's sweet and sour.

Internet companies, venture capital, and Wall Street investment banks in Silicon Valley began to enter the market one after another, all wanting to get a share of electronic payment.

Internet companies, especially Yahoo and AOL, who are interested in e-commerce, do not want their payment systems to be controlled by others. Yahoo now has a bit of an Internet hegemony thinking, and wants to transform its tens of millions of website visitors around the world every day into Instant messaging, e-commerce and other businesses.

Unlike Song Yang's side, who invest in different companies separately for instant messaging, e-commerce, games, etc., Yahoo only has one sentence and wants them all!

As long as it is an Internet business, Yahoo wants it all, which is much more fierce than Netscape, or it can also be said that it is Wall Street behind Yahoo, who wants to give Yahoo more concepts, so that it can continue to raise its stock price.

Naturally, Yahoo couldn't miss the concept of electronic payment. It started to pay with dotBank, which was flirtatious. Other payment platforms are basically the same, and they all started to look for backers.

Wait until dotBank, X.com Payment, etc. raise US dollars. If there is no accident, the money-burning war in the electronic payment industry will be even more tragic. More money will be sent to users. In order to compete for users, they will continue to burn money. Burn it clean, and this US knife war will not end.

After all, as long as PayPal is pulled down and they replace it, they can replace PayPal. Think about it, who wouldn't want to have a giant company with a valuation of tens of billions of dollars?

For this reason, let alone burning 20 million dollars, even if it costs [-] billion or [-] billion dollars, it is estimated that venture capitalists in Silicon Valley and some banks on Wall Street are willing to do it.

But PayPal is not afraid of the challenge of these imitators. Although it dare not use the famous saying of NBA bird Bird, "Are you here to compete for the runner-up?" Still the biggest.

The Matthew effect of the Internet is what makes latecomers most desperate. As long as PayPal can maintain its advantage, more and more users will enter the PayPal platform.

After all, users use electronic payments to transfer money and trade with each other. Just like there are too few users on the dotBank platform, and there are not even overseas users. Those merchants who engage in cross-border trade use this thing to transfer money to ghosts.

Now burn more money, keep burning money to attract users, wait until the tide of the Internet recedes, and then the time to burn the money in their hands is to die. PayPal doesn’t need to do a good job, just kill them. ...

Just as dotBank, PayMe, X.com and other payment platforms were trying to raise money, and then they were fighting with PayPal, news suddenly began to spread in the banking industry.

At the time of the highest stock price of Prosperity Bank on the New York Stock Exchange, it exceeded US$58, and its market value exceeded US$37 billion. At that time, Prosperity Bank was also the most beautiful boy. American investors regard it as a model of value investing.

Even Wall Street analysts once made predictions for Prosperity Bank, thinking that it might become a bank with a market value of more than US$[-] billion, which is already quite good among small and medium-sized banks.

But these are all yesterday's old days. In just two or three months, the stock price of Prosperity Bank has been cut in half and then cut in half, from the previous $58 to $17.

John Harder stood in the trading floor of the New York Stock Exchange, looking at the code of Prosperiti Bank on the trading screen with a dead face. The stock price on it was displayed as $11.

As soon as the market opened today, there was no surprise that the stock of Prosperity Bank was cut in half again. Harder, who is 50 years old this year, is approaching the age of retirement. He is also an individual investor and has bought a lot of stocks.

Harder buys low-risk, high-dividend stocks in industries such as banking, oil, natural gas, and insurance. Over the years, he has earned some dollars by relying on dividends.

But what John Harder didn't expect was that these days, not only people are unreliable, but stocks are also unreliable. Bank stocks, which have always been stable, are going to fall back to the same level as they were ten years ago in a few months.

John Harder wanted some dividends from bank stocks, but the other party wanted his capital...

When PayPal was first launched, John Harder believed the words of those small and medium-sized banks, and thought that PayPal was just a small trouble. He dared to compete with Wall Street and banks for food. .

John Harder also based on his own "experience", it is not that no one dared to challenge the bank in the past. As a result, all the losers jumped off the San Francisco Bridge, so facing the falling bank stocks, especially Prosper, who was the most affected For Ritty stocks, Hardy specifically took out his savings and pensions, and prepared to take a gamble.

If he wins the bet, then Harder will be assured for the rest of his life, and he doesn't need to worry about pension issues anymore. He can stud a few times in his life.

The result is the situation in front of him. He invested more than half a million dollars to buy Prosperiti Bank stock, and now only a fraction is left.

In the blink of an eye, John Harder saw Prosperity Bank's share price plummet from $11 to $8.

Seeing this scene, John Harder felt "no waves" in his heart. Otherwise, what could he do? A few days ago, he followed a lot of people who bought this product, and went to Wall Street Avenue to let them stroll around to protest, and found The lawyer wants to sue Prosperiti Bank for fraud, and the media has also reported it.

But nothing can be changed. Even if the lawsuit is won, there is already news that Prosperiti Bank is about to go bankrupt and delisted. If it wins the lawsuit, it is estimated that it will not get a penny.

As for selling the stocks in his hands, John Harder felt that it was unnecessary. Anyway, he felt that the stock price of Prosperiti Bank might drop below one dollar today, and it might not be enough to pay taxes if it was taken out. and handling fees.

After another glance, John Harder finally couldn't bear it after seeing the stock price drop again. He turned around and prepared to walk to the rooftop. His savings were gone and he still owed a whole lot of debt. He felt that there was no need to retire. I am afraid that I will suffer even more when I am alive.

Walking towards the corridor in a daze, John Harder, who was about to climb the roof, just pushed open the door of the corridor when he heard a sudden exclamation from the trading hall.

When John Harder didn't want to look back, but hearing the growing movement behind him, he couldn't help but look back, and then his eyes widened. He suspected that he was wrong.

Rubbing his eyes and looking again, Harder finally made sure that he didn't look too far. The stock price of Prosperity Bank, which was about to fall to the bottom just now, suddenly started to rise!
(End of this chapter)