fictionpage Chapter 212: Cooperating While Stabbing Each Other in the Back
Chapter 212: Cooperating While Stabbing Each Other in the Back
Chapter 212 Cooperating While Stabbing Each Other in the Back
In the financial jungle of Wall Street, there is an unwritten rule.
That is, these capitalists, dressed in custom-made suits and silk ties, would never easily hand over even the slightest bit of leverage to others.
In the top-floor office of Lehman Brothers' headquarters, the floor-to-ceiling windows overlook the towering skyscrapers of Manhattan, yet a tense atmosphere permeates the space.
CEO Richard Fuld sat in a six-figure Italian leather office chair, a thick document about Enron held between his fingers, but his wolf-like eyes were fixed on the printed word "PayPay" as if drawn by a magnet.
His eyes held the gaze of a god who had beheld a stunningly beautiful young woman, a look that was both yearning and concealed a subtle, almost imperceptible, calculation.
Time seemed to stretch out in the office, with the clock on the wall ticking away, each tick like a countdown to an upcoming decision.
A full ten minutes passed before Fuld leisurely slammed the documents onto the smooth, mirror-like desk. He cleared his throat, his voice carrying an undeniable authority, like a king issuing a royal decree.
"Immediately set up a software development department and poach all those engineers in plaid shirts and black-rimmed glasses from Silicon Valley. In the shortest possible time, you must create an online payment software like PayPal."
The secretary standing in front of the desk was startled and nodded frantically, "Yes, Mr. Fuld, I will coordinate it as soon as possible."
At Lehman Brothers, Fuld was the undisputed ruler; his word carried more weight than the board's resolutions.
Not only did the company's senior executives not dare to utter a single dissent, but he could also casually replace the old men on the board of directors as easily as changing playing cards.
Logically, the board of directors' responsibilities are to oversee the CEO and appoint and dismiss senior executives, but in Fuld's case, the rules have been completely reversed.
It's not the board of directors that governs him, but rather he who governs the board of directors.
This phenomenon of CEO dictatorship is nothing new in top American companies.
If a CEO can bring shareholders returns far exceeding expectations, then he is the supreme ruler of the company, even if he doesn't own a single share.
Richard Ford joined Lehman Brothers in 1969 and rose through the ranks from a junior trader to his current position; he is both experienced and prestigious.
Especially since he officially took over as CEO of Lehman Brothers in 1994, he has managed the company very successfully in the past three years.
In its core businesses such as fixed income and equity derivatives, Lehman Brothers expanded wildly, like it was on steroids, and its market share soared.
Even the previously lagging mortgage-backed securities and emerging market bond businesses have made rapid progress under his leadership, showing signs of catching up with Goldman Sachs.
Lehman Brothers at that time was like an elephant on steroids, rampaging through Wall Street, and no one dared to mess with it.
Fuld tapped his fingers lightly on the table, then suddenly remembered something. He looked up at his secretary, a hint of malice in his eyes. "Use our connections to cause trouble for PayPal on Capitol Hill. Even if we can't stop its development, we should at least give it some trouble."
After saying that, he narrowed his eyes, like a wolf eyeing its prey. "You understand what I mean, right?"
The secretary nodded hurriedly. Having worked in the financial industry for so many years, if she couldn't even grasp this meaning, she would have been sent to a remote branch office long ago, drinking cheap coffee and compiling reports.
He knew better than anyone that PayPay's internet finance was like opening a door to a new world, showing these Wall Street giants the huge pie of the global market.
The cake was so big that everyone wanted to rush up and take a bite, and PayPal was the first person to get a cake fork.
You can break the other person's fork, but you absolutely cannot throw away the cake.
However, the secretary still had some concerns and cautiously reminded him, "Mr. Fuld, PayPal is a company under Ernst, and Enron's market maker plan relies entirely on PayPay's software. If we touch PayPay, Ernst and Enron probably won't let it go easily."
After listening, Fuld smiled dismissively, his laughter full of arrogance. "You don't need to worry about that. I know better than anyone which is more important, a company or the global market, and my colleagues on Wall Street understand that too."
He picked up the documents on the table again and examined them over and over, his eyes looking as if he were admiring a priceless work of art rather than a pile of papers with printed words.
"What a brilliant idea!" Fuld couldn't help but exclaim, his voice filled with admiration. "If the person who came up with this idea were to dedicate themselves to the financial world, they would surely become a legendary figure in history sooner or later."
"Compared to him, the analysts and traders employed by these big Wall Street institutions are simply a bunch of useless people who only know how to calculate returns. How come no one can come up with such a brilliant idea?"
His eyes were full of admiration, but then his tone turned sinister. "So, right now all the big players on Wall Street are thinking the same thing as us: to join forces and shut down PayPay."
"Ernst and Enron aren't stupid; they must have thought of that. But they also know that Wall Street is all bark and no bite; they can't really destroy PayPal. If they bring PayPal down, nobody will have anything to eat."
Fuld threw the documents on the table again. "Help me schedule an appointment with the CEO of PayPay—"
The secretary quickly whispered a reminder: "Peter Thiel."
"Yes, this is the guy." Fold clapped his hands. "Help me arrange a meeting with this lucky little fellow."
In his view, Peter Thiel's success today is entirely due to luck.
If Ernst hadn't chosen him to be the CEO of PayPay, this guy would have spent his whole life working in small companies in Silicon Valley, without even having the right to speak to himself, let alone step onto the stage of Wall Street.
The secretary looked puzzled, scratched her head, and asked, "Sir, what's our reason for inviting him? We can't just call him here for no reason, can we?"
Fuld rolled his eyes, as if to say that he couldn't even understand such a simple question.
He said slowly, "Of course we should talk to him about cooperation. We'll list Lehman Brothers' financial derivatives on PayPal."
"Sold on their platform."
The secretary was speechless for a moment. You stabbed someone in the back one minute, and then you shamelessly talked to someone about cooperation the next. Do you think they would agree?
Richard Fuld noticed the secretary's confusion and shook his head inwardly. This new secretary, whom he had chosen when he took office, still needed to be trained.
"Suppression is merely a stance; both sides understand each other's intentions. Before our platform was developed, we needed the other party's sales platform. PayPal, on the other hand, needed more products to enrich itself and attract more users."
"Then you don't need to personally arrange a meeting with them, do you?" In the secretary's view, although PayPaI had great strategic value, Peter Thiel and Richard Fuld's identities were completely mismatched.
If this were the company he founded, it would make sense, but he was just Ernst's puppet.
Richard Fuld was in a good mood today and was preparing to mentor his young secretary, whom he saw as having great potential. If he trained him well, in a few years he might just be like his previous secretary, taking on important responsibilities in other departments and helping to ease his burden.
He leaned back in his office chair and said slowly, "If we list Lehman Brothers' financial derivatives on PayPal, will other Wall Street giants follow suit?"
Without hesitation, the secretary nodded: "Definitely. PayPal is currently the only platform where financial products can be traded online. Nobody wants to miss this opportunity. If we're late, our market share will be snatched up by others."
"That's more like it." Fuld snapped his fingers. "Our products used to be sold only to our own customers, but once we're on PayPal, we'll be dealing with all the giants on Wall Street."
"At that time, each company's financial derivatives will be like dishes on a restaurant menu. Whoever's product introduction is more attractive and whose product is more prominent will be able to attract more customers."
The secretary suddenly realized, her eyes lighting up instantly. "Sir, I understand. Your personal involvement will not only demonstrate Lehman Brothers' sincerity but also secure a better position in the cooperation, making our products more prominent on PayPay."
Fuld smiled with satisfaction, revealing an expression of someone who was teachable.
"I'll go arrange a meeting for you right away," the secretary said, not daring to delay, and quickly ran out of the office.
At the same time, the entire Wall Street was mobilized, doing the same thing as Lehman Brothers.
Seeking cooperation while stabbing each other in the back