[Chapter 829: Collective Flattery]
Of course, some were not swayed, like the Big Blue. Despite undergoing a renaissance, the Big Blue remained as prideful as ever.
IBM. Just from the name, one could sense what the company represented. Yes, International Business Machines was not some international gaming console. They had already humbled themselves enough by delving into PCs; if they were to take on gaming consoles, that brand would take a serious hit.
Indeed, they were as dramatic as ever. IBM boasted that they focused on the stability of their computers and that entertainment functions weren't necessary.
"Ha! Tom, it doesn't matter. Old Guo is already feeling the pushback. Deep down, he wants to say, 'Forget it! If you want to play games, just buy a gaming console!' As for their talk about stability, if they abandon their own operating system, they've already given up on stability. That patching expert at Microsoft? Where's the stability in that?"
Tom chuckled awkwardly at the boss's criticism. In reality, Compaq and HP were not interested in gaming either; they were just compromising for the sake of sales.
Of course, Dell, always relentless, didn't care as long as sales skyrocketed. "I don't care if you're playing games or launching rockets!"
As for the squabbles among the lower ranks, William White wasn't bothered. He didn't believe IBM needed to compromise. By emphasizing stability and business use, the Big Blue held its ability to command a premium on its brand.
In truth, brands like HP, Compaq, and Dell leaned heavily towards business. They might have been aware or unaware that personal computer users were changing.
Yes, it was a time of transformation. PCs were replacing typewriters and minicomputers. The clientele for these products was shifting from government contracts and large organizations to small and medium-sized enterprises.
As for true individual consumers, they were still a ways off from fully embracing computers. Yet all the companies felt the surge in households purchasing computers.
For American enterprises, this was not necessarily good. Once computers became household appliances, they couldn't compete with the electronics giants.
"Tom, this debate is pointless. I no longer need anyone's acknowledgment. Whether they like it or not, computers are intertwined with gaming."
William White honestly wanted to say, "If I can't play games, what's the point of buying a computer? To practice typing? You can do that just fine with a typewriter."
In fact, once computers entered the gaming market, America's tech giants had nearly all hit a wall. At that time, the concept of sub-brands hadn't even come into play; even branches were non-existent.
When it came to laptops, however, the big players finally woke up. Configurations suitable for various types of users finally emerged.
You could be as prideful as you wanted, but ultimately, one still had to yield to the market. If your focus was solely on business, did that mean you'd also abandon graphical capabilities?
Of course, those discussions were very premature. Some arrogance ran too deep to change at that point.
Take John, for instance. Whether it was laptops or tablets, he thought it was a simple matter: "Buy it if you want it. Don't bring any demands into this." Any requests made were simply misguided.
"Filson, you can ignore the computer stuff. What's on today's agenda?"
"Uh, boss, here's today's Wall Street Journal. It's all singing the praises of emerging markets--talking about economic miracles, and what they call a golden decade."
"Is that so? Are they planning to form an investment team?"
"Sir, there are two crucial data points: foreign investment figures and Gross National Product. If you don't analyze their makeup, the numbers for these economies do indeed look appealing."
Seeing the array of data displayed made William White consider diving in himself.
All the statistics looked superb; it indicated that these emerging economies were set to become the next hot investment destination. Such countries would join the ranks of high-income nations.
My goodness, that news was incredibly uplifting. The shift of industry in America was going well; all they needed was to continue producing high tech. There would be an increasing flow of cheap manufactured goods into the U.S. while they would be significantly purchasing American high-tech products.
"What about Buffett? Why isn't he chipping in? Aren't they all singing his praises for value investing?"
"He's right here. This economic boom is global. Companies like Coca-Cola, Pepsi, Johnson & Johnson, and Procter & Gamble have tremendous brand value and pricing power.
According to annual reports, they've performed well in emerging markets, and that performance is expected to be sustained..."
William White felt overwhelmed. Okay, he couldn't refute this; after all, those were facts. Emerging economies were at a disadvantage in this regard--they lacked substantial domestic brands. Even if they had any, they would be consumed by those corporate giants, leaving nothing behind.
"Filson, isn't this a bit overdone? Are they trying to make it sound worse than it is?" William tossed the newspaper aside, losing interest.
The most frightening aspect was the flattery. Those figures were undeniably real. Even if the data didn't match up, those countries would never admit it.
Everyone knew that seawater was undrinkable, but if you tossed them on a tiny boat and left them for three days, they'd have to drink it to survive. It was a matter of choosing between dying of thirst or drowning--at least drowning would be less painful.
The emerging economies now faced various issues. They understood that foreign capital was not invested in the real economy, yet they remained dependent on such financial support. The metaphor of drinking poison to quench thirst wasn't yet appropriate; it was merely swathes of seawater.
There was a saying that if you drank seawater under such conditions, you could develop a surreal illusion. The sense of thirst would diminish, but one would go mad. That description seemed fitting for these countries.
"Filson, everything stated here is accurate, and the details are laid out clearly. Yet, why do I feel like I'm being scammed?"
Filson chuckled. "You're already retreating, which suggests you're quite savvy. What they're doing now is just to con more fools into falling for it."
"Sir, it seems we need to speed up the withdrawal. Hong Kong, too--it will definitely be affected. Should you reconsider?"
"Hmm, I will think about it. Sigh, I can't help but feel reluctant. Filson, Hong Kong is prime real estate. Stocks don't concern me; I can recover losses if they drop. But securing good business opportunities can be difficult, even with money."
Listening to their conversation, Tom felt a bit confused. He'd read the newspaper that the boss tossed aside. Had he not picked up on the discrepancies in the dialogue, he would have thought they should invest more.
The strategies of the capital market were deceptively deep; such extensive flattery couldn't possibly be orchestrated by one person or even a few.
Forget it; the wealthy certainly had their games to play. He figured it would be best to just hold on to the company stocks and leave everything else behind. By the way, he'd have to fire that stockbroker when he got back.
Once the two men exited, William White continued to wrestle with his thoughts. Alright, maybe he could reduce his stake in real estate; there would still be opportunities until before 1999. Apartments could be sold off as well, except for a few luxury units. As for commercial real estate? Forget it; it was up to whoever wanted it.
Everything would eventually rise to unprecedented prices. Therefore, it wasn't worth getting worked up over temporary losses. Besides, whether Soros had the guts to stir things up was another variable.
*****
https://www.patreon.com/Sayonara816.