The internet companies became the focus of public attention this time, but the nature of the attention was different from before.
Previously, people were concerned about which internet companies would go public, hoping to secure some initial shares or find a way to join as a high-level executive for potential stock incentives.
Now, the focus is on whether internet companies are profitable.
From the dawn of the internet era, investors have been fed promises. It's time for those promises to materialize.
Weren't you saying this was a future blue ocean? Weren't you saying that user numbers would reach certain figures, that user engagement was extremely high, and that user conversion rates were excellent?
The investors discovered a harsh reality.
Very few internet companies were making public pronouncements.
And those that did speak out had disappointing performance.
As a nascent economy, the internet attracted significant capital and was enthusiastically pursued by countless investors.
Crucially, since their IPOs, internet company stock prices had steadily risen, bringing substantial returns to investors.
Officials in the United States were getting nervous. This was about to collapse. They needed to stabilize investor confidence; it couldn't crash on their watch.
They called for the internet giants to make public statements.
At this time, the four major internet giants were Soft, Intel, Yahoo, and Amazon.
Were you worried about the performance of internet companies? Then let these four internet giants speak for themselves.
Let them tell everyone how much money they've made.
Everything was like the emperor's new clothes, waiting for someone to point it out.
The situation was far from what people imagined.
Behind the apparent glamour, there was untold hardship.
Had internet companies made money over the years? Yes, they had made quite a bit.
But when compared to their expenditures, their net profits were meager.
As the leader of internet companies and a pioneer in technology, Soft's stock price was extremely important.
Soft alone accounted for ten percent of the Nasdaq index.
However, when the government approached Soft, they were met with a cold shoulder.
"You officials are supposed to support businesses. Do you think Soft is having an easy time?
We were trying to push through an acquisition plan to strengthen our industry position and help our revenue reach new heights.
And what did you officials do? You sent us a hefty fine.
Shortly after, a summons from the federal court arrived, directly accusing us of monopolistic practices and ordering us to cease the acquisition.
This decision was made with a casual flick of your lips.
Do you know how much effort and sweat we poured into this acquisition?
How much money went down the drain when the plan was halted?
Do you have any idea why our quarterly reports were negative?
Is this the bitter fruit we should be forced to swallow?" Faced with Soft's existential questions, government officials were ashamed.
"The Nasdaq is of great importance. Do you really want six hundred billion US dollars to evaporate overnight?" the exasperated government official said coldly.
Damn it, if the Nasdaq crashes, Soft can't stand alone.
Soft's president's expression changed. Damn it, they lost thirty billion in a single day, which was more than Soft earned in an entire year.
"We will work hard to stabilize our stock price."
Yahoo, Amazon, and Intel, concerned about their market capitalization, desperately projected an image of a booming internet industry.
However, their stock prices were too high. The Nasdaq index now had a P/E ratio of 190 times, far exceeding historical and company valuations.
The most sickening point was that company profitability and stock dividends were at an all-time low.
Even the most resourceful person can't make a meal without ingredients. Faced with this situation, stock analysts frowned.
They could talk up the market endlessly, but it had no effect.
The stock price would eventually tell the whole story.
Ultimately, there were three reasons: irrational stock price increases, overvaluation, and detachment from fundamentals.
It was a sleepless night, with countless elites strategizing rescue plans.
"Our company will release significant positive news, and you officials must also take corresponding actions."
"That's no problem, we will release it."
The Federal Reserve announced news of a one-hundred-basis-point interest rate cut to 0%-0.25%.
This was a considerable move, essentially a zero-interest rate policy. It seemed the government was going all out.
They had to save face for the leader, preventing a collapse during his term and shifting the blame to the next administration.
"Now it's stable. The officials have spoken, the leader of the tech companies has issued a statement, operations are normal, and they've filed many patents. This is definitely good news."
"I was so scared. Selling off my holdings today was a mistake. I've decided to jump in when the market opens tomorrow."
"The new economy is reliable. It has captured the future economic blue ocean. The internet is an emerging industry with immense room for imagination."
"Isn't that young man from the East shorting the Nasdaq? Tomorrow, he must be forced to cover his positions and learn the consequences of shorting the Nasdaq."
"With this series of major moves, the market should stabilize. It looks like I can arrange some entertainment tomorrow night. No need to be a male escort tonight; I'll rest and go out with models tomorrow night."
"Even so, it's unlikely. The United States is a superpower, the world's leader. We can't lose face. This is the benchmark for investors worldwide. Tomorrow, it must rise!"
The next day arrived quickly. By now, Zhang Tianxing had become a celebrity at Harvard.
Before, people had laughed at Zhang Tianxing for being handsome but foolish and rich. Now, he had shed the foolish label and ascended to the ranks of campus heartthrobs.
Boston had numerous universities, and recently, Harvard had attracted many handsome and beautiful students from other institutions, all eager to catch a glimpse of Zhang Tianxing's looks.
Investors in the United States were dumbfounded. Damn it, they were out of money. They had even invested their unemployment benefits into the stock market, hoping to earn some money to buy food.
But now, it was a full-blown stock market crash.
Forget buying meat, they could barely afford a dollar fried chicken. How were they supposed to live!
The stock market, a legal casino, was about to open its doors again, and it remained to be seen if the Nasdaq could stage a strong rebound and recover yesterday's losses.
The scene of this stock market crash was too dire; even the strongest heart medication wouldn't help.
Rumors had it that several people had committed suicide by jumping off buildings in Wall Street.
As people's minds were filled with unease, the stock market opened on time.
It was good. The market opened higher, and investors, seeing their red investment accounts, were as pleased as punch.
Unfortunately, the good times didn't last. Five minutes later, the red turned to green, then it plummeted into the red, falling relentlessly. The investors' faces turned green.
Damn it, if this continues, the United States won't be able to function.