Name: Stock Market For Beginners 2020
Uploaded: 2020-08-24T19:10:29.000Z
Duration: 11 min 3 s

基礎被動語態

When you look at the stock market, it's difficult to understand why each stock is priced in

當你看到股市的時候，很難理解為什麼每隻股票的價格在

I mean, look, we all have heard the news that Apple is the first trillion-dollar company,

我的意思是，你看，我們都聽說過蘋果是第一個萬億美元公司的消息。

its world's biggest and most successful company.

其世界上最大、最成功的公司。

Maybe the stock price should be higher as well, right?

Apple's stock price right now is 258 dollars, while a company that is hundreds of times

蘋果公司現在的股價是258美元，而一家公司的股價是其數百倍。

smaller like NVR Incorporated has a stock price of 3000 dollars.

Does that mean that NVR incorporated is bigger than Apple, the short answer is No.

這是否意味著NVR納入的規模比蘋果大，簡短的答案是No。

However, it's a little bit more complicated than it might seem.

然而，這比看起來要複雜一些。

In fact, the entire stock market seems quite complicated at first look.

其實，整個股市乍一看似乎挺複雜的。

But there is a logical explanation behind most of the things.

但大多數事情背後都有一個邏輯解釋。

To make a sense out of the stock market, we have to understand what a stock is in the

要想從股市中理出頭緒，我們就必須瞭解什麼是股票中的

Let's say, For the last 6 months, you have been thinking of starting a business.

比方說，在過去的6個月裡，你一直在考慮創業。

The only problem you have is, you don't know what business to start.

你唯一的問題是，你不知道該做什麼生意。

One day, on your way to college, an idea strikes your mind.

有一天，在你上大學的路上，一個想法在你腦海中出現。

You pull out your phone and write it down, you rush to your house and start planning.

你掏出手機記下來，你趕緊去家裡開始規劃。

Everything looks perfect; you know how to turn your idea into a multi-billion dollar

一切看起來都很完美，你知道如何將你的想法變成數十億美金。

But its too early to celebrate because you don't have the capital to start.

但它太早慶祝，因為你沒有資本開始。

You gather your family members, and you explain to them the idea hoping that they will invest

你召集你的家人，向他們解釋這個想法，希望他們會投資於

Everyone thinks you are crazy, except your uncle, who decides to bet on you.

每個人都認為你是瘋了，除了你的叔叔，他決定在你身上打賭。

10 thousand dollars in exchange for 20 percent of the company.

It might not seem much, but it's actually a lot.

Because your uncle just valued your idea that's not proven yet at 50 thousand dollars.

因為你舅舅剛剛給你那個還沒被證實的想法估價了5萬塊錢。

So you register your company, issue 100K shares, and your uncle gets 20K of them.

所以你註冊了公司，發行了10萬股，你叔叔就能拿到其中的2萬股。

You start building your website and designing your product.

你開始建設你的網站，設計你的產品。

In a few months, you run out of cash, and you need to raise more money.

幾個月後，你的現金用完了，你需要籌集更多的錢。

Unlike last time, where you simply had an idea.

不像上次，你只是有一個想法。

So, instead of going to your uncle again, now you can do something different, like talking

所以，與其再去找你的叔叔，現在你可以做一些不同的事情，比如說...

Angel investors are usually the rich dudes who are looking for innovative ideas or young

天使投資人通常是那些正在尋找創新想法或年輕的有錢人。

It's not easy to convince these guys to throw money into your business, because statistically,

要說服這些人把錢投到你的企業中去並不容易，因為從數據上看。

And you have to prove to them why you are an exception.

而你必須向他們證明為什麼你是個例外。

After talking to multiple angel investors.

Luckily, you could get one of them on board.

幸運的是，你可以讓他們中的一個上船。

But first, you have to agree on the valuation.

There is pre-money valuation and post-money valuation.

有貨幣前估值和貨幣後估值之分。

Pre-money valuation is how you value the company before receiving the investment.

資金前的估值是指在收到投資之前，如何對公司進行估值。

And post-money valuation is pre-money valuation plus the investment.

而錢後估值就是錢前估值加上投資。

The higher the pre-money valuation, the less portion of the company the investor is going

資金前的估值越高，投資者要去的公司部分越少

You enter into a negotiation, and you convince the investor to throw 1 million dollars into

你進入一個談判，你說服投資人投100萬美金進去。

your business, with 2 million dollars post-money valuation.

你的企業，資金後估值200萬元。

So the investor is going to take 50 percent of the company (1/2).

所以投資人要拿公司50%的股份（1/2）。

And your shares will get diluted together with your uncle ones.

而你的股份會和你叔叔的股份一起被稀釋。

That doesn't mean, you are going to have fewer shares, the company will simply issue another

這並不意味著，你的股份會減少，公司只是會再發一次。

So, now there are a total of 200K shares instead of 100K shares, and your stake is 40% ( since

所以，現在一共有20萬股，而不是10萬股，你的持股比例是40%（因為...）。

you own 80K share and your uncle's stake is 10%).

你擁有8萬股，你叔叔的股份是10%）。)

With a million-dollar, you rent an office, hire some designers, engineers, and specialists

有了一百萬美元，你就會租一間辦公室，僱傭一些設計師、工程師和專家。

Finally, everything is ready; you are about to lunch your product, app, service, whatever.

最後，一切都準備好了，你就要開始吃你的產品、應用、服務，不管是什麼。

And you still need a marketing budget and salespeople, so you decide to raise some more

而你還需要營銷預算和銷售人員，所以你決定再籌集一些。

This time, you meet some VCs or Venture Capitalists.

這個時候，你會遇到一些VC或者風投。

They are not your typical angel investors.

These are dudes with MBAs and work in Venture Capitalists firms, who take other people's

這些人都是有MBA學位的人，在風險投資公司工作，他們拿著別人的。

money and invest in companies such as yours.

Anyways, after multiple negotiations, they decide to bet on you.

總之，經過多方協商，他們決定把賭注押在你身上。

Since you already have a team and a product to launch, your company hopefully now worth

既然你已經有了團隊和產品推出，你的公司希望現在值得

Lets say the VC offers you a 10 million dollar investment with a 20 million dollar post-money

假設風投給你提供了1000萬美元的投資，並提供了2000萬美元的後資金。

You find that offer fair, and you accept it.

你覺得這個提議很公平，你就接受了。

The company issues another 200K shares, and everyone's stake gets diluted again.

公司再發行20萬股，大家的股權又被稀釋了。

Since the VC just purchased 50% of the company.

由於VC剛剛收購了公司50%的股份。

(your 20%, uncle's 5%, angel investor 25%)

(你的20%，叔叔的5%，天使投資人的25%)

The angel investor, for example, had 50% of 2 million dollars when he invested in the

比如，天使投資人在投資時，有200萬的50%。

Now he has 25% of a company that worth 20 Million dollars (which is 5 Million dollars).

現在他擁有一家公司25%的股份，價值2000萬美元（也就是500萬美元）。

In fact, your stake worth now 4 Million dollars.

事實上，你的股份現在價值四百萬美元。

Anyways you can go for Series C, D, and so on.

反正你可以選擇C系列、D系列等。

Remember, everyone who has invested in your company has been waiting for you to grow big

請記住，每一個投資你公司的人都在等待你的大發展

Especially your uncle, who's 10K investment now worth millions.

尤其是你舅舅，一萬塊錢的投資現在價值百萬。

You have two options, you either get sold to one of the giants of the industry like

你有兩個選擇，你要麼被賣給行業的巨頭之一，如

And that's known as IPO - Initial public offering.

而這就是所謂的IPO--首次公開發行。

It's just another way to raise funds and issue shares, but this time, anyone can buy your

這只是另一種融資和發行股票的方式，但這一次，任何人都可以購買你的。

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Stock Market For Beginners 2020

present

multiple

slightly

exaggerate