William White entered the automotive industry this time, and it seemed he was no longer just playing around.
However, the timing felt a bit awkward. The soaring yen didn't hurt the home appliance industry, nor did it impact their automotive sector.
The so-called Plaza Accord seemed only to have inflated the prices of imported goods.
Well, it squeezed the wallets of the public, especially if you had savings in the bank.
The Big Four automakers in America were struggling, and for someone in filmmaking, wasn't that a bit too arrogant?
Such low interest rates? You've got to be crazy!
Some folks were confused, others bewildered, and some scoffed with disdain. In this atmosphere, it was astonishing that bonds worth half a billion dollars were announced as sold out.
In light of this situation, not just the onlookers but even William White himself was somewhat shocked. He didn't mind a failed issue -- honestly, he didn't need the money.
What William White didn't know was that his reputation in the U.S. was mediocre at best. Yet internationally, he had an excellent reputation; those investing in his company were almost universally reaping huge profits.
So what about the automakers?
What was Bentley like before?
And now? Although it wasn't turning a large profit yet, it had become a well-known automotive brand. The price was even on par with Rolls-Royce, and if production could keep up, who would doubt its profitability?
And what about those experts in Detroit?
Well, international capital didn't pay them any mind. They had their own assessment systems -- why should they care about those fools and their nonsensical babble?
This Tesla Automotive Group was quite odd. For a company in America, it bizarrely had just one design center in the U.S.
Excuse me, what country do you actually represent?
If that was all, we could let it slide. However, while American investment banks collectively looked down upon it, international capital was pouring in. They even thought the amount was low; a billion dollars seemed more reasonable.
...
"Ha, no wonder this guy won't invest in America. Looks like he won't be listing in New York anytime soon."
"Seems like it. But what exactly is this company? Is it an American enterprise?"
This question intrigued many, especially with so many auto workers losing their jobs.
However, William White didn't care what the public thought. Asking him to open a factory in America was a pipe dream. As for the subsidies, let General Motors enjoy those.
So, amidst all kinds of skepticism, William White's automotive venture began to unfold.
At this point, industry insiders were utterly baffled. To them, it would have been wiser for William White to acquire an existing company. Whether in Europe or America, plenty of automakers were waiting to be saved, and the prices were pretty reasonable.
Rebuilding a brand?
Is this guy out of his mind?
In fact, Filson also suggested an acquisition; they even identified several suitable targets. However, William White was unwilling to go down that road, or rather, he wasn't satisfied with any of those companies.
To William White, cars weren't high-tech; it was all about basic industry. In this regard, who could compete with the Germans?
You could give Mercedes the steel from American manufacturers, but they'd still produce junk. No matter how powerful your engine design was, if the cylinder pistons didn't meet specifications, they'd still break down.
William White's approach became widely adopted later.
Wasn't Ford's design center in Europe?
General Motors had also managed to embrace the so-called globalization to gradually shake off its embarrassing situation. In contrast, Chrysler, a traditional American automaker, was basically just limping along.
Now, this approach was simply ahead of its time; what was the big deal?
No engine technology?
Then buy it.
Creating a good engine wasn't in William White's wheelhouse, but he certainly knew which companies had decent products. Any company still around twenty years later had its strengths.
...
"Sir, is he really planning to create an entire automotive group from scratch?"
"Seems like it, but it's going to cost a fortune; five hundred million bucks is nowhere near enough."
"Yeah, if it were me, I'd just buy Chrysler or Ford."
"Ha, this gentleman isn't having any factory built in America. The folks in Pasadena are going to have headaches again."
What Pasadena thought didn't concern him. With his gaming company in such disarray, he had no reason to give them any leeway. Just maintaining one design center was already generous.
The chatter from outside didn't put a dent in William White's good mood. He made a quick buck from speculation, and his assets were practically leaping every day.
This move towards real industry also came from his think tank's suggestion. William White's asset allocation was severely out of whack; if he didn't adjust it soon, he'd end up just another traditional investment bank.
Investment banking wasn't bad; it just wasn't in a good spot anymore. Investing overseas was easy to explain, but for domestic industries, he could only strut around in Silicon Valley.
Over the years, investment banks and William White had ongoing disputes but had never come to blows. This was likely a major factor in their relationship.
Everyone had their areas of expertise; ideally, they wouldn't encroach on each other's turf. That would be a sure way to earn contempt.
...
The conflict between Apple and Jobs seemed to be escalating. This situation was something Jobs himself had never anticipated.
Apple, on the decline, seemed to have set its sights on graphic systems, which was the only way to distinguish itself from IBM PCs.
IBM was fine, but Compaq's advantages were immense. Never mind Apple; even the Big Blue was close to choking on its own blood.
What embarrassed Jobs was that the Apple II, which he insisted on discontinuing, turned out to have astounding potential.
In the realm of eight-bit processors, it swept everything aside. This wasn't just in America; in fact, Europe and Asia eventually surpassed the U.S. to become Apple's main customers.
...
"Sir, we're facing some sales issues in Asia."
"Sigh, what could be the problem? It's just piracy, plain and simple." Seeing his boss's calm demeanor, Tom was utterly speechless. You've got a way with this; why don't you share it with me?
"There's no helping it. Not to mention other places; even the Japanese just take the company floppies home to install without a second thought."
"It's truly that way; the Japanese are manageable, but elsewhere it's getting rough."
"I don't have any solutions. I guess we could offer a bit more commission for the versions in smaller languages; this way, the computer sellers might work a little harder."
"Alright, I suppose that's all we can do."
In fact, William White didn't mind piracy that much; while it didn't earn money, it did contribute to market share. As long as prices were reasonable, people would buy the legit versions.
*****
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