[Chapter 688: A Win-Win Situation Again]
In reality, the U.S. was in a tough spot, and others were not spared either. The U.S. dollar was unreliable, and the euro wasn't much better. As for other currencies, their regional characteristics were too obvious.
Moreover, the U.S. wouldn't go along with any plans to replace the dollar. If someone intended to challenge the dollar's dominance, they better be prepared for a fight.
"Sir, I've talked enough with Bill. Although he's furious, he has no choice but to accept."
"Hah, I gave him shares in my search engine. That guy really is stingy."
Filson chuckled wryly, thinking that if they developed more software, Bill might just hand over the whole company.
"Ahem, he's just worried about you interfering with his operations. He has a very strong desire for control."
"Ugh, how can he not understand? If we hold shares in each other's companies and separate conflicting industries, we would avoid unnecessary competition, right? The best part is that the Justice Department couldn't touch us. If I work on browsers, he can't. How can he not get that?"
Filson felt dizzy; if it weren't for this reason, Bill Gates wouldn't even consider sharing equity with him.
The laws seemed ridiculous; they supposedly increased competition between companies, but if businesses had the same focus, only one could join the board.
On the surface, it sounded great, but how could one regulate those conglomerates? They were all essentially in it together. Yes, there was competition among the conglomerates, but when faced with newcomers, they all banded together. Once they'd eliminated you, they would fight amongst themselves.
Later giants like Qualcomm, General Motors, Microsoft, Apple, Google, and Oracle clearly followed this pattern. If one wanted to compete with them, well, by the time you started, it was already over.
This was the so-called legal monopoly; it was nearly impossible for any domestic competitors to thrive. As for foreign ones, well, didn't Alstom just get forcibly acquired?
William White felt that his partnership with Microsoft was a win-win. This wasn't just talk; the only way his monopoly could last was by bundling more stakeholders together.
What was the point of holding onto so many shares? Didn't he see his buddies were all divesting?
"Sir, isn't it about time to wrap up the pound situation?"
"Sure, let's see how much longer they can hold on. The duller the knife, the more it hurts when it's time to cut."
Filson wasn't sure how to respond to William White's odd preferences. As long as he was making money, why poke the bear?
"Sir, they might have at most one hundred billion pounds in U.S. dollars left, and the current interest rate is at 15%. They surely have no plans to hold on forever."
"Alright then, let's finish this. I think Germany and France might just let it go under. The Brits look down on the Italians, but what they don't realize is that no European looks up to them."
...
William White, suddenly in the spotlight, made many people uneasy. Just last year, wasn't he drowning his sorrows daily? Now he was mixed up with those starlets in scandals.
Well, it wasn't really gossip anymore. Once something became confirmed, circulating it around served little purpose. Truth be told, this never-married guy couldn't really be criticized too harshly if he wasn't crossing the line.
It was a normal enough process, wasn't it? Who were they to judge?
What? Illegitimate children?
That couldn't be mentioned -- William White had imposed a gag order. Such matters couldn't reach the papers, and if someone dared to overstep, they'd likely face bankruptcy.
In America, those in the media business often came from family-owned enterprises. They had deep roots in society, sure, but who would try reasoning with a madman?
Yes, in the eyes of those old-money families, William White was deemed insane. After all the commotion in Los Angeles, he still had the audacity to be present.
Sure, his security was top-notch, guarding his mansion and even the whole block; but come on, the son of a wealthy family shouldn't be out where he could be seen. Either William White was being foolish or reckless.
This time, he seemed set on pulling a fast one on the Brits.
Sigh, is it really that hard for nouveau riche to keep a low profile?
Deep down, William White felt like crying; after all, he was just a spoiled brat. Living off the wealth and not bothering anyone was his favorite pastime. If nobody was causing him trouble, wasn't it better to just continue his reckless lifestyle? With the amount of money he had, he could live without wanting for a lifetime.
...
"Bill, stop looking so grim. I'm beginning to understand that having a healthy body is more important than anything else."
Bill Gates let go of his worries; indeed, the situation with Paul Allen was the real issue.
"Paul, are you feeling any better? I suppose I shouldn't be burdening you with these troubles."
"Much better, thankfully I caught it early. But Bill, you shouldn't concern yourself too much. Haven't you noticed that William White is also offloading some of his shares?"
Bill Gates paused; if anyone else had said that, he might've brushed it off. But with all of William White's funds and trusts, who knew what angle he was working?
"Are you suggesting he's worried about a Justice Department investigation?"
"Filson and William White told you; I consider that credible. He may be a jerk, but he's not a liar. Or rather, he doesn't need to lie."
"Yeah, he has a staggering number of shares. Yet, as long as his name appears on the board, the company wouldn't engage with him much."
"Right, not only in IT, he's also the single largest shareholder of Coca-Cola and the biggest personal shareholder of Pepsi. Have you ever seen him on Pepsi's board?"
"Sigh, just how much money does this guy have?"
How much he had was quite difficult to ascertain. Private foundation companies didn't have to disclose information. Offshore trusts? Even more dubious -- those existed to obscure ownership.
Some said the U.S. tax bureau was fierce, that even organizations couldn't evade taxes.
Well, that depended on how you looked at it. If a trust purchased funds and stocks, that aspect of holding wasn't taxable.
Go check American tax returns; people like Buffett and Bill Gates hardly paid any taxes at all.
Why did George Soros pay more? Because he dealt in hedging. Short-term securities weren't exempt from taxation.
Excessive, right? The tax rate for wealthy individuals was far below that of the middle class. To be fair, America wasn't the worst; the Brits were even worse -- wealthy folks in London paid almost no taxes.
What made London's dismal climate attractive to the wealthy?
No taxes!
*****
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