Manhattan Reborn 1978

David was sandwiched between Giles and Bloomer and chatted about the topic just now.

"A job-hunting program? A TV show about finding a job? This..."

"Pine, is this program going to be broadcast by our TV station?"

The two of them started asking questions after hearing about it.

David grabbed the two brothers and said, "Don't be too busy asking. We just talked about job hunting. I have follow-up plans to talk about."

"Ok!"

Several people sat down and waited quietly.

I have to say, I heard David cheating. .

cough!

Anyone who has heard David talk about plans has a common understanding.

That is to listen quietly and patiently to the deception before expressing an opinion. .

Such a cooperative audience.

It's very nice!

David gave a few thumbs up.

However, tonight is a party and many people are here. Why not call over and listen together.

There is no need to go back and say it a second time.

He apologized to several people, said a few words, got up and went to call someone.

Then he turned around in a big circle.

I saw Vince and Bobby and asked them to help find some food and pear mint cocktails.

Called Sally, Andy and Rhett, old David and old Malkin and Polly.

Seeing Barlow and Forrest Gump looking around, he asked Barlow to take good care of Forrest Gump.

I saw George, who happened to be a lawyer, and he would be needed for some subsequent matters.

I saw Orina, the accountant, and called her to come with me.

When I saw Ben, I asked him to take notes, saving him the trouble of taking notes himself.

I saw Karl, went up to say hello, and made an appointment to visit him in a few days.

See Auston.

amount.

"Man, I've told Hardman about you taking over the job of street informant, and he has agreed. Man, you are going to be promoted!"

Auston thanked him with a smile and motioned for David to continue working.

David looked around again. Ludy was busy somewhere, so he had no choice but to leave him alone.

By the time he returned to Giles' booth, everyone was almost there.

Food and drinks are also prepared.

David unbuttoned his tie and shirt collar, took off his suit, rolled up his sleeves, and drank a cocktail first.

The pear tastes fresh and sweet, and the mint is refreshing and refreshing.

Not bad!

He took out the small notebook, scanned it briefly, and separated the pages he needed to use his fingers.

He told the crowd about his program plan.

"I just talked about job hunting programs."

"This program can solve the problem that most big groups face when no one is available."

"It can broaden the ways for most middle-level white-collar workers to find jobs and open up the horizons of choice for various companies under the Da Group."

"The next thing I want to say is, another show."

"Investment program."

"I believe everyone should be aware of the current market environment."

"The inflation rate and unemployment rate are still rising, and currency depreciation has become the most concerning economic issue in the country."

"Our trading company has personally experienced inflation, which is very touching."

"Farmers who have worked hard for a year can only watch helplessly as their agricultural products rot in the fields because of unsaleable products."

"But because the poor cannot afford food and cannot receive relief, they can only steal and rob."

"The depreciation of the currency makes everyone feel even more deeply."

"If you don't do anything, the money in your wallet will keep depreciating, and your purchasing power will keep decreasing."

“Just like this cocktail in front of me, if three years ago, its price was $[-], what about now?

Three swords!People also find it very cost-effective. "

“So how can we make the dollars in everyone’s wallets outperform inflation and currency depreciation?”

"invest!"

"In the current economic environment, many small and medium-sized enterprises are facing unprecedented pressure from all aspects. They have very good projects, inventions, products, as well as good future prospects and money paths."

“But due to various restrictions, we were unable to obtain the first or most important investment.”

"Now, our program gives them a platform."

"They can come to our program and explain the project prospects and future development to investors in detail to obtain investment."

"Wait! David!"

Polly, who was sitting aside, waved to Ben Whitcott: "Give me a piece of paper quickly. I want to record it. There is also a pen, do you have it?"

Giles, Bloomer, Pine, and Lynch all raised their hands and asked for a piece of paper to record.

David simply took out a blank notebook from his pocket, began to tear it out one by one, and distributed it to everyone.

Vince was nearby. Seeing this scene, he ran to the bar, took all the pens and distributed them to everyone.

Polly was ready: "David, go on!"

amount. .

Looking at the people around him holding pens and papers, David took a sip of his cocktail and cleared his throat.

There were more people tonight, so his voice was raised accordingly, and his throat began to get tight.

He looked at the small notebook in his hand and continued.

“Investors who find a suitable and promising project and invest a sum of money will receive corresponding generous returns in the future.”

"I define this kind of investment as venture capital!"

“It’s one type of entrepreneurial investment.”

“The roots of entrepreneurial investment and venture capital can be traced back to the late 20s.”

"At that time, some wealthy families and individual investors were seeking higher returns."

"Invest in some newly founded companies and provide them with entrepreneurial development capital."

"Then, with the development of the times."

“In 1946, Harvard professor George Dowitt, Raf Flanders of the Boston Federal Reserve, and a group of New England entrepreneurs established the first venture capital company of modern significance: the American Research and Development Corporation. "

"It pioneered the current venture capital industry, and its most successful case is investing in dec company."

Pine raised his hand next to him: "Are you talking about Ken Olson's American Digital Equipment Company?"

"Yes, that's it!"

Pine wanted to continue asking, but he felt that all eyes were on him, so he wisely chose to shut up.

"OK, please continue!"

"In 1953, Congress passed the Small Business Act, creating the Small Business Administration. Abbreviation: sba"

“In 1958, a series of bills regarding investment were passed, creating the Small Business Investment Corporation (SBIC).”

"The SBIC was created under the Small Business Investment Act and was established to provide long-term funding for the development of small businesses."

“As a result, many small businesses in need of funds were deterred because its approval process was cumbersome, the threshold was high, and financing required additional guarantees.”

"At the end of 1969, the U.S. stock market began to fall rapidly, and the economy at that time began to show signs of recession."

"Congress at that time increased the long-term capital gains tax from 29% to 49%."

“This decision is a devastating blow to the venture capital industry.”

"The scale of venture capital funding in 1969 was $1 million."

"By 1975, guess what the size of the capital was?"

Giles raised his hand, "Ten million dollars! I learned this from my mentor, Professor Bartley!"

"Well, congratulations! Giles, you have learned to answer questions!"

"Yes, it's 1000 million dollars."

“This number means that the venture capital industry has been completely strangled by high taxes and fees!”

"But Giles, you graduated this year, right?"

Giles was a little dazed: "Uh, yes."

“Then you probably didn’t know that this year Congress finally reset the long-term capital gains tax rate.”

"Dropped it from 49% to 28%!"

"Do you know why it falls?"

Giles shook his head.

David looked around again, but this time no one answered.

"There are two main reasons. One is what we just mentioned. The plummeting scale of venture capital has made it difficult for small businesses to obtain financing and their ability to resist risks has been reduced. This has also caused the bankruptcy rate of small businesses to continue to rise in recent years."

“In some states, cities, and localities, it has even reached the point where there are no small businesses left.”

"On the other hand, in 1974, Congress passed the Retirement Income Securities Act."

"It's a bill that prompts pension funds to invest broadly."

"So based on the information I have now, combined with the economic development in recent years."

"My guess is that within the next two years, Congress will definitely relax restrictions on venture capital investment by pension funds."

"This will not only make pension funds the largest source of venture capital."

“At the same time, it will also expand the size of the entire venture capital pool countless times.”

"Then now is the last window period for us to enter this industry!"

"We will launch this investment program on the TV station in the near future. In each episode, 6-10 relatively valuable emerging technology small business projects will be selected so that investors can choose."

"These small businesses may grow and become giant companies in the industry because of these investments."

"Bring investors ten times, dozens, or hundreds of times returns."

When David said this, he let out a sigh of relief.

Looking at the small notebook in his hand, he was in a daze.

VCs!

Not on a whim!

Plant a seed today and reap the fruits in the future.

David was good at finding gold in the sand.

As one of the future Fortune [-] company's board of directors and one of the shareholders.

Isn’t it better than starting your own business and working hard to find a living?

In his previous life, he had explored the lives of the founders of some super large companies out of curiosity.

Lively and luxurious, that's for sure.

Hard work is a must.

Thinking all day long about how to keep the current wealth and make more money.

This is universal.

David felt tired for them.

When money becomes a string of numbers.

David was ready to start enjoying life.

Venture capital is just the first appetizer.