Text | Hubert
Reading biographies is one of the best ways to learn how to invest in money!
"Bad Blood", a story of a "unicorn company made ten billion dollars with one drop of blood", is full of secrets and lies; today I share with you three very simple but practical financial advice for reading the biography "Bad Blood".
Image source: pixabay
< h1 class= "pgc-h-arrow-right" > glamorous Elizabeth</h1>
We should all have the experience of blood testing, and some tests should draw blood from our own veins full of five or six small tubes.
If someone told you that there was a technology that could perform more than 200 specialized tests by stabbing a drop of blood on the tip of a finger, would you believe it?
It's a "revolutionary" blood testing technology, and its founder is full of charm, she is Silicon Valley's most commercially valuable unicorn company , The founder of Hilalos, Elizabeth Holmes.
The more advanced and the more sophisticated the technology, the technology may actually become a reality; it is really exciting, but we should always be careful to verify it anyway.
And the reality is that there are many people who are attracted to her charm and blindly choose to trust.
When the lie was shattered, Channing Robertson, associate dean of the Stanford School of Engineering, recalled scenes touched by her creativity:
"She had some kind of ability to take all kinds of pieces of science, engineering, technology, and put them together in a way I had never imagined before."
He was also impressed by Elizabeth's enthusiasm and determination to stick to his ideas.
"Of the thousands of students I've taught before, no one has ever been like her," he says, "and I encouraged her to go out and pursue her dreams." ”
"Entrepreneurship" is always difficult, and Elizabeth's family relationship has played a very important role, and the reputation of many investors has great weight, to a certain extent, it has played a role in "increasing credit".
These investors are not only investing because of "relationships", but also impressed by Elizabeth's charm.
This is easily reminiscent of the problem of domestic celebrities endorsing wealth companies' products; although many investors are running for high returns, stars do play a certain role.
Speaking of many investors, they say that they don't know how to manage their money, but they just trust the wealth manager and follow the advice of the wealth manager, which is actually irresponsible to themselves.
In short, trust is a necessary condition, but not a sufficient condition.
<h1 class="pgc-h-arrow-right" > Murdoch that invests intuitively</h1>
There's an investor story in Bad Blood that stuck to me, and that's media mogul Rupert Murdoch.
Murdoch first met Holmes at a Silicon Valley event, the Breakthrough of the Year Gala. During the dinner, Holmes made a strong first impression on Murdoch.
Their second encounter was at a ranch in Murdoch, where Murdoch had only one bodyguard and the security team that Holmes brought with him was very large. While eating, Holmes "fooled" Murdoch into investing.
According to biographies, the media tycoon likes to just follow his instincts and does not do any due diligence; he also indirectly verifies his judgment through some channels before investing, but it is not very deep.
The Wall Street Journal, controlled by Murdoch, has exposed the Silicon Valley giant's lies, and Holmes once reported to Murdoch that "the information collected by the Wall Street Journal is wrong, and if published, it will cause great damage to the company."
Implicitly, Murdoch's investment would also be lost; surprisingly, Murdoch refused to intervene by saying that he "trusted the newspaper's editors to handle the matter impartially."
When the risk was finally exposed, Murdoch sold the stake back to Hilalos for $1. With $12 billion, Murdoch can afford to lose more than $100 million in bad investments, while also receiving a large tax offset against other income.
We also occasionally follow the "big coffee" to do investment, but we don't know that everyone's situation is completely different - for example, Duan Yongping recently posted a post to buy Tencent, indicating that he would fall and buy more.
Maybe this is indeed a good time to intervene, but we never know what proportion of Duan Yongping's purchase of Tencent's total investment is, and it may not be worth mentioning.
If you sum it up in one sentence, you can't blindly follow.
<h1 class="pgc-h-arrow-right" > clever Kevin Hunter</h1>
Hilalos seeks to partner with Walgreens, which Walgreens wants to use to open up new and massive revenue streams and try to be a game changer.
Elizabeth's vision attracted Dr. J. who identified new ideas and technologies for Walgreens, and he contributed heavily to foster collaboration.
Walgreens also hired Kevin Hunter, the operator of a laboratory consultancy, to help him evaluate and build a partnership with Hilalos.
Kevin Hunter did some due diligence.
During the talks, Hunter went to the bathroom accompanied by staff and returned to the conference room, and did not see any laboratory-like places on the road.
When he offered to see the lab, Elizabeth replied, "No problem, as long as we have time." Hunter repeatedly offered to verify Hilalos' blood testing techniques, but was ultimately rejected.
This made him very suspicious, and he fed back to the Top of Walgreens, who were afraid that Hilallos would cooperate with competitors and therefore ignored Hunter's proposal.
Hilalos cleverly exploited this uneasiness. As a result, Walgreens suffered from a severe fear of missing out —a fear of missing out.
Kevin Hunter did his job, unfortunately not.
In the same way, when we are very desperate to fulfill a wish, we may become blind and lose objectivity, and we may not listen to the advice of others – this is what we need to avoid.
In addition, many of our current investments are done independently by ourselves, lacking mutual communication; in addition, our autonomy in investment and financial management is getting stronger and stronger, and we slowly can't listen to the suggestions of others.
Combined listening is bright, partial listening is dark, more communication is more beneficial.
<h1 class="pgc-h-arrow-right" > recommended book list</h1>
The Secret of a Silicon Valley Giant with Lies is ¥49 to buy
I read this book with pride.
The details revealed in the book all hint at Hilalos' problems, but it has grown to become a unicorn with a valuation of tens of billions of dollars.
Its board members are well known, how did Elizabeth attract them?
A thousand readers have a thousand Hamlets, and more perceptions need to be felt by everyone through reading.
I highly recommend reading biographies to learn about investment and financial management, because the content of biographies is more detailed and comprehensive than the one-sided information we see every day, which can inspire more thinking.
Finally, I introduced my financial statement, thanks for reading!
![The difference between infantile scurvy and sepsis is that one is that the mother takes too much medicine, and the other is that the father has done something wrong[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)