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Chapter 889 The Bird of Fright
Colin McMillan looked at the chaotic interior of ICQ in a daze. He had never experienced this before. In the past, the department heads and managers who belonged to big shots in his eyes were all rushing like headless chickens at this time. After passing by, ICQ is in chaos.

The "old staff" in the office in the past had no time to work at this time, so that the department in charge of daily maintenance and upgrading the system also made frequent mistakes, resulting in continuous complaint calls. The supervisor of the customer service department and Colin Macmillan and their The head of the department had a big fight. This kind of quarrel has happened several times in ICQ today.

As for playing with the flowers and plants in the office, pets and so on in spare time, I have no thoughts at this time. Almost everyone in the office has opened a stock trading software on their computers, staring at the stock price of ICQ that is [-] feet straight down!

As a rookie, Colin McMillan has not yet figured out the importance of stock prices to Internet companies, but the "veteran employees" who have worked in ICQ for two years have all received ICQ option awards. Their villas , sports cars, parties, pensions, luxury goods, etc. are all tied to ICQ's stock price. The collapse of ICQ's stock price means that their previous living standards and styles basically no longer exist!

What Colin McMillan saw was the ordinary employees of Internet companies, the professional managers and major shareholders of the board of directors who were rewarded with large shares, and it was at this time that the wailing was everywhere.

"This kind of rapid decline is abnormal. After the rapid decline, there will be a rapid rise. The American Securities and Exchange Commission, the Federal Communications Commission, and the commander-in-chief will never want to see the Nasdaq collapse!"

Analysts and securities brokers from Wall Street institutions are still persuading leek customers not to run away in a hurry, because if they run away, they will lose everything and bear a butt of debt.

The major Internet companies have also issued statements again, declaring that everything is operating normally, and the Nasdaq Index, as well as the stock prices of major Internet companies, have gradually stabilized.

But at noon, shocking news suddenly broke out again. AOL Time Warner admitted that there was a related transaction of 7.5 million US dollars at the time of the merger, which falsely reported the revenue of Internet advertising.

However, AOL Time Warner also euphemistically stated that this related transaction did not cause too much loss to investors. This is completely a "white lie".

But the leeks who had already become frightened birds did not listen to this at all. That afternoon, the Nasdaq stock price continued to plummet, and AOL's financial problems even raised doubts about the entire Internet industry!

Even if ICQ, Yahoo and other companies repeatedly deny the three consecutive times, I don’t have it, it’s not me, it’s impossible, but the impact caused by AOL Time Warner is too bad, just like when an avalanche occurs, no snowflake is innocent, even if other Internet companies Denying it, the stock price plummeted.

"Today, AOL investor, private detective Dominique Amorosa, announced that he will file a lawsuit against AOL for financial fraud and performance fraud.

And it is expected to unite more than [-] Wall Street investors to file a class action lawsuit against Ernst & Young, which provides accounting services for AOL!

As of now, AOL Time Warner's market capitalization has lost more than 35% from its peak..."

"The Nasdaq index has fallen by more than 20% in the past three days, the highest in history, and the market value of Nasdaq's more than 8000 billion US dollars has disappeared!"

In San Jose, Song Yang's villa, Gleick, Marcus, Irene, as well as the Google duo Larry Page, Sergey Brin, PayPal President Aaron Swartz and others all gathered Here in Song Yang, I watched the report of the ICNC TV station's financial channel.

What the program host said was just a series of cold numbers, but to the ears of everyone in the villa, it was like a heavy hammer falling down!
In the background of the TV show, when I went to the Nasdaq site, I could see the almost chaotic scene. The phones of countless traders kept ringing, and almost all of them were calls from customers asking to sell their stocks.

On the big screen of Nasdaq trading, it is all red, and there is no green at all. One can imagine the stock price situation of the major companies on Nasdaq at this time.

The camera is shown on the Wall Street in Manhattan. You can see ambulances and police vehicles passing by continuously. The pedestrians passing by have solemn faces and hurried past. There are exclamations from time to time. Although the camera did not capture , but obviously, another loser who lost his fortune and debts jumped off the building...

Irene, Aaron Swartz, and Larry Page also saw such a tragic scene for the first time. A few days ago, the Internet industry was still in full swing. Today is so tragic, the entire Internet Everyone is panicked.

The entire Internet industry has been jittery these days. There are constant reports of which Internet company is about to run out of food, news of a broken capital chain, which Internet company has already begun to lay off employees, and even news of bankruptcy and fleeing.

It's hard to tell whether it's true or false, but it's a hard time in Silicon Valley right now, but it's an out-and-out thing.

Even though ICQ is struggling, the decline is not as severe as that of AOL Time Warner, but in just a few days, the market value has also dropped by more than 16%, and the US$640 billion has been wiped out, which is almost equivalent to most of Song Yang's net worth on paper. It has been gone for a few days. As for the leeks who received orders at high positions, what is the situation now? Think about it with your toes. In the past few days, a group of homeless people who suddenly appeared on the streets in several major cities in America, where did they come from? come!
Although no data has been released yet, in the past few days, the divorce rate in big cities in America, especially middle-class families, has definitely soared. It is all because of the debts that have left the family and the children. There are also individuals There are also a lot of bankruptcy estimates!

One of the things that worries Silicon Valley Internet companies the most is whether this drop is a sudden situation, or whether the Internet industry is really over. These are two completely different situations. Most Internet practitioners now still tend to be The former are still gritting their teeth.

Even the Internet industry has spread a new set of theories, as long as one more day is needed, it can reduce 10% of competitors, or even M&A opponents, the best chance to occupy the industry!
Who knows where this seemingly "reliable" theory came from, but many Internet companies believe in this theory, and there is nothing they can do if they don't believe it. Now, what else can they do besides sticking to it?
Watching the tragic situation on TV, Aaron Swartz and Larry Page couldn't help but look in Song Yang's direction. At this time, their gazes at Song Yang were completely different from those of last month. different.

Now the major Internet companies are raising money everywhere, but the life of Google, PayPal and other companies does not seem to be much worrying now. Song Yang has already asked them to prepare enough cash. Even if the Internet industry completely collapses, the financing It's less than a penny, Google and other Internet companies in the Song Yang camp can save a little money, and it's not a problem to last for three to five years!
"When will this crisis pass?!"

Larry Page watched the scene on TV, looked away, and couldn't help asking, "It is reported that the big shots in Washington will not just watch the Nasdaq collapse..."

"Washington, don't care about Nasdaq!"

Song Yang just responded indifferently, telling Larry Page and Aaron Swartz, don't expect Capitol Hill and the generals to save Nasdaq, and be honest and prepare for a few years of hard life .

Now for Capitol Hill, senators, and the House of Representatives, the most important thing is the election of the general. For the rest, whether the Nasdaq collapses or not, those congressmen don’t care at all. Besides, at this juncture, who Being able to spend trillions of dollars to rescue an Internet company with a price-earnings ratio of more than [-] times is not the way to be a leek!
At this time, Aaron Swartz also said with a serious face, "I don't know the situation on Wall Street. The PayPal fund department is facing a large-scale redemption wave!"

Hearing this, the faces of Greck, Marcus, Irene and others all changed drastically. In the stock market all over the world, leeks can only be regarded as retail investors and cannot influence the market. It is institutions, foundations, Major shareholders, retail investors and leeks are not in the same boat, but the foundation formed by them is the main force of Nasdaq!

If the leeks all redeem the fund, then the foundation will have to sell the stocks to pay the leeks. No matter whether it is a loss or a profit, the foundation must sell the stock price. Once the foundation withdraws first, the entire Nas Darko is bound to face a huge stock sell-off.

At this time, leeks, Wall Street institutions, have to follow suit, and this will further stimulate the investors of the foundation to redeem the fund. Repeatedly, Nasdaq has to be smashed until it can't calm down. At that time, the entire Nasdaq will not have a market value of hundreds of billions, but a market value of several trillion dollars, and it will be wiped out!

Thinking of this ending, Larry Page and the others couldn’t help but feel their scalps tingling. That’s a few trillion dollars. Behind this, how many leeks went bankrupt. The Internet companies in Silicon Valley are estimated to be wiped out by the group. How many companies can be left? Can there be a fraction of the market value of the giant companies that started out with a market value of hundreds of billions of dollars?

Song Yang's complexion didn't change much. Instead, he exchanged glances with Marcus and Greg, and Marcus nodded slightly.

Crisis often represents danger, but there are also opportunities. It depends on how you play and how much chips you have in hand. Song Yang feels that the current decline is not enough. Companies in the Internet and technology industries are still too wet, and they will fall by a hundred percent. If the market value is more than eighty or ninety, at that time, you can start cutting leeks. At least, Song Yang has been coveting General Electric for a long time...

"Little Edgar, you have to calm down. Selling ICQ stock now means that you will have nothing. These are only temporary. ICQ's stock price will rise back one day!"

Immelt, who had just returned to the headquarters of General Electric, called Edgar Bronfman Jr. in a desperate situation, trying to stabilize him and prevent him from smashing his ICQ equity. The stock price of ICQ is about to collapse completely.

(End of this chapter)