Back To 1995: Chapter 517 change of weather
Chapter 517 Changing the sky
Ever since he became the president of Goldman Sachs, Paulson has not felt this way for some time. He has always hunted down his opponents, beheaded them one by one, and achieved his great reputation as the king of Wall Street. When will it be like today? Being stared at like prey.
If he was only facing Aaron Swartz today, Paulson would have already started threatening, but with Song Yang added, Paulson also restrained himself somewhat.
Paulson, not to mention a little bit afraid of Song Yang, felt that it was difficult to deal with. If Song Yang was just an upstart on the Internet, then he would not care too much at all.
But now Song Yang is not only in the Internet industry for a long time. Several ventures have made Song Yang a lot of industries in telecommunications, mobile phones, TV media and overseas.
Even if Song Yang's industry in the Internet industry is destroyed, Song Yang can still get up again, and he will suffer from it if he beats a snake to death. Even Paulson dare not say that he can completely toss Song Yang It's over.
Song Yang is now one of the funders of Xiangdang, and may become one of the big funders in the future. When the critical moment comes, Xiangdang will stand up for Song Yang even if he puts on a show. If Song Yang returns Going to Texas, Paulson really has nothing to do with Song Yang. The name of the Lone Star State is not just blown out, and Wall Street in Texas can't make waves!
And with Song Yang's personality, Paulson is very sure that if he loses power one day, Song Yang will definitely come to him to settle accounts with him. People from Texas will definitely do this, and Kennedy will be killed. Brain holes have been opened, let alone him.
Thinking of this, Paulson suddenly understood the meaning in Song Yang's eyes, but at this time, in front of Pellet Greene and other subordinates, Paulson could not back down, otherwise he would lose face up.
Prestige is invisible, but it is real. If Paulson cannot make people in Goldman Sachs fear him, then Paulson will face the risk of being ostracized at Goldman Sachs. Goldman Sachs has no shortage of ambitions Who wouldn't want to be the president of Goldman Sachs? !
"This is Song, what's your final intention?" Paulson asked Song Yang with a straight face and a deep voice.
The atmosphere in the entire conference room was extremely tense at this time. Pellet Greene and others did not expect that Song Yang would dare to confront Paulson head-on.
Aaron Swartz and several PayPal executives are also a little worried. This is Paulson, the most powerful person on Wall Street in Goldman Sachs history. He offended him, and PayPal's life may be sad.
At this moment, Song Yang laughed suddenly, and tapped his fingers on the table a few times, "President Paulson, I told Manager Pellet Greene that PayPal has no interest in Goldman Sachs or other Wall Street companies. The meaning of competition!"
Hearing this, Paulson finally had a step down, and his expression eased a little. If Song Yang really didn't give him a step down, then Paulson really couldn't step down today.
"President Paulson and Manager Greene," Song Yang looked at them and said, "PayPal's transaction commissions have little impact on Goldman Sachs, Citigroup and other Wall Street banks, and I don't think Goldman Sachs is either. Live on those transaction commissions and handling fees?!"
Song Yang said very bluntly, Goldman Sachs can't get along with PayPal, it doesn't make any sense at all, Goldman Sachs doesn't live on these fees, and now it's hard to get along with PayPal, because it regards PayPal as a potential opponent, fearing that PayPal will really give them traditional banks. Instead.
It sounds like there is nothing wrong with these words, but Pellet Greene always feels that there seems to be something wrong, but looking at Paulson's expression, he seems to agree with Song Yang's statement, but he didn't say it out , Pellet Greene is not easy to refute.
After seeing Paulson's expression, Song Yang continued, "Actually, PayPal and Goldman Sachs will not only become rivals, but may even become collaborators!"
Paulson was a little curious about what he said. Seeing that PayPal was about to put those small and medium-sized banks on the ground, he even said that PayPal and Goldman Sachs were partners. Paulson didn't know how Song Yang dared to say that. These words.
"PayPal's current users are mainly small and medium-sized users, and they will not steal Goldman Sachs' big customers. I think Goldman Sachs should have absolute strength to keep those big customers?" Song Yang said.
Paulson sniffed his nose. He couldn't say that Goldman Sachs was afraid of being robbed of its big clients by PayPal. That wouldn't be a joke on Wall Street.
Song Yang leaned forward slightly, "President Paulson, if Goldman Sachs can help PayPal obtain federal fund sales licenses, insurance licenses, credit licenses, etc., then PayPal can start cooperation with Goldman Sachs in funds, insurance, credit, etc. business!"
Pellet Greene was dumbfounded. Is Song Yang going to ask PayPal to lower the handling fee, and ask Goldman Sachs to help it get so many licenses, and then compete with Goldman Sachs?
A handling fee has disturbed the American banking industry. If it enters these industries again, wouldn't it be a catastrophe.
Several executives of Goldman Sachs were talking about it for a while, but Paulson, a veteran of Jianghu, was calm. He didn't believe that Song Yang was the kind of person who talked freely. If he dared to say these things, there must be a reason to persuade him.
"Reason!"
Paulson just said something to Song Yang.
"PayPal's users are mainly young users, and overseas users account for more than two-fifths of PayPal. These are new users for Goldman Sachs and Wall Street!"
Song Yang's words moved Paulson's heart. After so many years in America, the banking industry has long since stabilized, and the market that should be divided up has long since been divided up. Banks with a little bit of strength have already enclosed their own territories.
The younger generation of American people don’t trust Wall Street very much, and the number of credit card users has begun to decline, let alone buying Wall Street products. They are really afraid of being cheated.
PayPal has now swept over 23 million users all over the world. It claims to have 30 million users before the end of the year. Users are real.
These users are fresh leeks to Goldman Sachs and Wall Street. Paulson couldn't help but move his throat when he thought of tens of millions of fresh leeks!
"If you can get an online fund sales license, then PayPal can help Goldman Sachs underwrite funds and sell them to PayPal's global users. Similarly, PayPal can help underwrite Goldman Sachs' bonds, insurance, financing, etc.!"
"In addition," Song Yang raised his tone slightly, "PayPal's PMMF fund is preparing for new business, online personal credit and mortgage loan business!
PayPal will launch a credit scoring system. As long as you pass the credit and data review, you can get a certain amount of personal credit. These mainly provide services for merchants on Amazon, eBay and other e-commerce platforms.
In addition, PayPal will also go online, including online mortgage loans such as vehicles and houses. If all goes well, a user can get these loans in only half an hour! "
This is purely cutting leeks. The owner of the NBA Cavaliers, Gilbert, relied on this thing to make a fortune. It is somewhat similar to small loans, but it is not so black, but basically those who play this game are all cutting leeks. There is no doubt about it.
As for cutting the leeks in America, PayPal will not cut them, and other people will cut them. If it is PayPal, it will be a little lighter.
As for playing this game, there are two things that I fear the most. The first point is that being robbed by people, through system loopholes, getting credit, and finally slapping their **** to get out of the way. In this regard, PayPal is mainly for Amazon, eBay, etc. Merchants and users waiting for e-commerce will be a little more reliable.
The second point is that the borrowed dollars cannot be recovered. It may be a headache for other companies, even Wall Street banks, but for PayPal, it doesn't care that much. After all, the Blackwater Group's Bounty hunters are not hired for nothing...
The work of collecting debts is basically handed over to Heishui, and Heishui will undertake the dirty work and infamy. Otherwise, why use it?
Listening to Song Yang's words, several executives of Goldman Sachs couldn't help swallowing their saliva. They are in the bank, and they all know how much money there is in it, but because of risk control reasons, and the federal department is watching, they don't do these jobs. It's legal, but PayPal obviously doesn't pay that much attention, and there is no federal law. As long as there is a lucrative job, PayPal dares to stretch its claws.
Paulson was also a little apprehensive. According to this plan, the larger the size of PayPal's PMMF fund, the more loans it will release, and then use high interest rates to continuously attract user investment, and eventually it will become a snowball. At that time, even Paulson was not sure about the size of PayPal!
The risk is a bit high, but Paulson is very excited about cutting the leeks. Even if the PMMF fund system collapses in the end, it will be a few years later, and the money that should be earned has already been earned. Here we go.
"The risks are a bit high, and PayPal's risk control is difficult to bear these risks..." Paulson said slowly.
Hearing that Paulson did not ask PayPal to stop these plans, but said that the risk was too great, Song Yang had already guessed his thoughts slightly.
"This depends on the support of Goldman Sachs. PayPal hopes that Goldman Sachs can provide credit and risk control support. In addition, Goldman Sachs can be one of the settlement and deposit banks for PMMF funds!"
Song Yang once again fired a sugar-coated bullet, making Goldman Sachs one of PayPal's settlement banks, that is, letting Goldman Sachs keep part of the deposits on PayPal. knife.
Hearing this, Pellet Greene saw the faint smile on Paulson's face. He had a hunch that the banking industry in America was about to change!
(end of this chapter)