Chapter 1212 The Future of Dark Fiber
Hanhua, Thiel Fund, and Paulson Fund held parties to thank LP, and PY transactions were made.
Soon, these LPs who master the upper-level resources of the United States showed their own energy.
The voices of slandering and denying Wall Street's big bears in the market gradually disappeared.
Even if there are some discussions in private, they are limited to a small range. At most, a few words of cursing "Paulson, a bitch" is irrelevant.
In order to regain his public image, Paulson took the lead in donating a huge sum of $15 million to a research institution called the "Reliable Loan Center" to provide legal assistance to families who are not able to pay for their mortgages.
This move more or less saved Paulson's bad public image, but many people also felt hypocritical and made $3.7 billion, but ended up donating $15 million. It may cost more than this amount to sue for his mother.
Tear Fund followed Paulson and also donated $10 million to a social organization that paid attention to homeless people. In Peter Tear's words, it is difficult to steal the limelight of Paulson's hedge fund's number one person.
After donating such a little money, Peter Thiel was embarrassed to go to Xu Liang to pay half of the amount.
However, Xu Liang still donated 10 million US dollars to the local customs, which is only a drop in the bucket compared to the profit.
The incident gradually subsided, and people's memories of most bears will be diluted by time, but Paulson is probably hanging, who made him make the most money.
In addition, Greenspan, a famous Jewish economist who served for more than six times of the United States commander, announced that he would join the Paulson Fund and become the company's economic adviser, attracting countless attentions and once again attracted public discussion about the Paulson Fund.
Because during Greenspan's tense monetary policy during his tenure as chairman of the Federal Reserve, it was the old man's overly loose monetary policy that gave birth to the real estate bubble, and Paulson Fund happened to be the biggest profiter of the real estate bubble.
No matter how the American people scold, Old Man Ge has happily taken office. In an interview, he also said that Paulson Fund is the world's leading hedge fund and he also appreciates Paulson personally.
…
"This is the physical examination report of the Ryan sisters. The children in their stomachs are all healthy," Helen said.
Xu Liang took it and looked at it, then put it aside.
Last time he came to the United States, he planned to let the Ryan sisters go.
Anyway, there are some beautiful young girls.
I didn't expect that after a month, the two sisters and Helen were both pregnant.
Of course, you can't just drive away like before. "Look at it more. If they are obedient, I will give them what they should enjoy. If they are ungrateful, leave the children and let them leave." Xu Liang said directly.
Helen is the wife of Xu's American branch, and Xu Liang also respects her power to manage her harem. "Don't worry, I will be responsible for this matter."
Helen, who came from a wealthy American family, knew very well how to manage these matters.
"How is Facebook Telecom?"
"We have invested $2 billion to buy a large amount of dark fiber from telecom companies such as Verizon and Conscart, and have initially built an optical fiber network that can cover the west coast of the United States, which can provide 5Mbps broadband."
In the entire PC era, it is a great opportunity to invest in dark fiber.
During the telecommunications boom in the late 1990s and early 2000s (before the 2000 Internet bubble), the United States installed a large amount of "supplementary" fiber.
After the collapse of the Internet bubble, these excess capacity was called "dark fiber."
These unused dark fibers contrast with conventional communication cables, which offer opportunities for private customization services.
The main cost of installing optical cables is in the required civil engineering work, with about 80% of the cost being labor-based and only 10% being fiber-based.
From this perspective, since planning and installation costs are so high, it is very reasonable to deploy more fibers at once to expand in the future and provide network redundancy in the event of communication failures.
Owners of some fiber networks, such as railway companies and power companies, use more fiber and rent them to other operators.
During the network bubble, many operators established fiber optic networks, and each company had a huge business plan, wanting to provide or take over all traffic in the entire optical network service area, thereby monopolizing the telecom market.
This kind of "no planning" is often seen afterwards.
This is all based on the operators (or investors)’s “ideal” forecast for the future – the data business will continue to grow exponentially.
At this time, a technology that is enough to change the entire industry - wavelength division multiplexing.
Its appearance directly increased the capacity of a single optical fiber by nearly a hundred times, thus greatly reducing the demand for optical fiber.
The sudden decrease in demand for fiber is the result of the collapse of prices.
Many companies file for bankruptcy protection.
For example, the second largest communications company in the United States, "World Communications", was famous at that time.
An Enron Company, which has made a large number of layouts in the optical fiber field, etc. Similar to the “rail fanaticism”, one market’s misfortune becomes an opportunity for another, and this overcapacity creates new telecommunications opportunities.
Google saw such an opportunity. At this time, Google took the opportunity to buy a large amount of "dark fiber" from major telecom operators at a low price.
With these fiber resources, we signed bandwidth switching agreements with other ISPs, that is, other network access providers can try Google's fiber network for free, which is why YouTube dares to claim that the traditional bandwidth pricing model is not applicable to itself.
Through this operation, Google's bandwidth cost is nearly zero, and most of the expenses are just depreciation costs of fiber and routers.
This countercyclical operation has allowed Google to gain huge dividends in the first decade of this century.
Now this operation has joined a competitor.
"Is there any action on Google?"
"Eric Schmidt called me, hoping that we can respect each other and not bid maliciously, I agree."
"It is true that the two benefits should be agreed."
Seeing Xu Liang's expression, Helen continued, "Does the investment in dark fiber continue?"
"Are anyone in the company opposed it?"
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"Yes. Especially the representatives of investment institutions, they believe that the price of Internet traffic is not high now, so there is no need to invest in dark fiber in large quantities.
And the fiber network speed doubles every 9 months, which will cause a lot of hardware expenses.
This will slow down the company's development."
"Helen, do you think telecom companies will continue to maintain their honeymoon period with Internet companies?"
"I can't see that far." Helen shook her head.
"I don't think so.
Network neutrality exists only based on the honeymoon period.
When Internet companies make huge profits and telecom companies pay huge traffic but cannot get their satisfactory income, conflicts will break out.
No, it should be said that conflicts will break out because greed has no boundaries."
Xu Liang is too clear about the future development trend.
Telecommunications facilities will be pipelined in the future and will become infrastructure.
If it is in China and there are above controls, everyone can barely maintain peace.
But it is absolutely impossible in the West.
In particular, without calculating the Chinese market, the six companies in the mobile Internet era, including Google, Facebook, Netflix, Amazon, Microsoft and Apple, generated more than 56% of global network traffic.
And the proportion of traffic they generate in 2021 has exceeded the total of all other Internet companies.
As the concentration of the Internet industry continues to increase, correspondingly, telecom operators are transmitting more traffic than ever before, but the absolute number of Internet manufacturers is decreasing.
For telecom operators, a decrease in the number of customers obviously means a decrease in revenue, and even a pipelined telecom operator cannot tolerate this situation.
Contradictory inevitably intensified.
Verizon abolished the "network neutrality" principle at the end of 2017, and operators have reasons to charge differentiate fees.
In the European market, the CEOs of 11 European telecom operators including Telecom, France Telecom, Royal Dutch Telecom, Deutsche Telecom, Vodafone also jointly issued a statement.
It is hoped that the website of content provision is charged based on network traffic data and that Internet giants that consume more traffic are required to bear network costs fairly.
So, although you can still make a profit now, you will definitely have to pay in the future.
However, Xu Liang invested in dark fiber not just to reduce costs.
"Facebook has Netflix. In the future, I will cut YouTube into two parts: the United States and the International. Facebook will be responsible for the United States.
A large amount of video will bring huge traffic demand, and dark fiber will save us a lot of costs.
This is one of them.
Secondly, the development of technology will be faster and faster. Nowadays, the pan-entertainment and social networks that seem to have great potential will always reach their peak.
So we need to constantly find new revenue growth points, preferably being ahead of everyone. ”
(This chapter ends)