[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"origin-this-is-not-a-bug-but-a-game-feature":3,"chapter-this-is-not-a-bug-but-a-game-feature-this-is-not-a-bug-but-a-game-feature-chapter-470":6},{"origin":4,"title":5},"english","This Is Not a Bug but a Game Feature",{"chapter":7,"nextChapterSlug":19,"prevChapterSlug":20,"totalChapters":21,"novelImage":22},{"id":8,"novel_id":9,"title":10,"slug":11,"index":12,"content":13,"wordcount":14,"created_at":15,"updated_at":15,"volume":16,"translator":17,"content_hash":18},1472019,1919,"Chapter 470 - 288: Mirage Electronics’ New Business (Part 2)","this-is-not-a-bug-but-a-game-feature-chapter-470",470,"\u003Cp>He guessed that the actual valuation should be higher than his own estimate, after all, there is always some \"premium\"!\u003C\u002Fp>\n\u003Cp>But he never expected the premium to be so high, more than double his estimate...\u003C\u002Fp>\n\u003Cp>\"Honestly, I’m surprised!\"\u003C\u002Fp>\n\u003Cp>Chen Ba was a bit curious: \"There must be some reason, right? Why do these investment firms think so highly of Tianba Studio?\"\u003C\u002Fp>\n\u003Cp>\"Surprised?\"\u003C\u002Fp>\n\u003Cp>Huang Qing laughed heartily: \"You should know that fundraising is like asking for the sky and settling for the ground, meaning this fifty billion is just a preliminary figure. In serious negotiations, doubling it isn’t impossible.\"\u003C\u002Fp>\n\u003Cp>\"As for the reason, it’s about the real difference between Tianba Studio and other game studios...\"\u003C\u002Fp>\n\u003Cp>In the eyes of players, Tianba Studio is just a game company, nothing special.\u003C\u002Fp>\n\u003Cp>But to the Jiangning authorities, Tianba Game is not just a game company, but also a high-tech computer technology enterprise, in short, a high-tech company!\u003C\u002Fp>\n\u003Cp>For the same reason, these venture capitalists are so optimistic about Tianba Studio, chasing after it with monthly increasing valuations, precisely because of Tianba Studio’s strong \"technical\" capabilities.\u003C\u002Fp>\n\u003Cp>\"Technology?\"\u003C\u002Fp>\n\u003Cp>\"Oh right! I hadn’t thought of it until you mentioned it, it’s indeed a huge plus.\"\u003C\u002Fp>\n\u003Cp>Chen Ba suddenly realized.\u003C\u002Fp>\n\u003Cp>He had always looked at the valuation issue from the perspective of a \"game company\" and hadn’t considered it from the perspective of an internet high-tech company.\u003C\u002Fp>\n\u003Cp>In that case, fifty billion is indeed not much, maybe even a bit \"low\"!\u003C\u002Fp>\n\u003Cp>Are you kidding me?\u003C\u002Fp>\n\u003Cp>With Tianba Studio’s technical capabilities, if it were a \"pure\" internet tech enterprise, the valuation might need a new unit; fifty billion is still fifty billion, but switching the unit to US dollars wouldn’t be too much, would it?\u003C\u002Fp>\n\u003Cp>Unfortunately, Tianba Studio’s identity as an internet tech enterprise is not pure, as their main business area is still games.\u003C\u002Fp>\n\u003Cp>\"So, am I worth billions now?\" Chen Ba asked.\u003C\u002Fp>\n\u003Cp>\"Of course!\"\u003C\u002Fp>\n\u003Cp>\"If you’re willing to cash out, there are plenty of investment institutions willing to take over. The catch is don’t go overboard; if you sell the entire company at once, there may not be as many takers, and the price might decrease a bit.\"\u003C\u002Fp>\n\u003Cp>Huang Qing joked: \"So, are you even a little tempted after hearing all I said?\"\u003C\u002Fp>\n\u003Cp>\"Saying I’m not tempted would be a lie...\"\u003C\u002Fp>\n\u003Cp>Chen Ba didn’t deny being tempted; he even had a ridiculous thought of selling the company and founding a new Tianba Studio.\u003C\u002Fp>\n\u003Cp>But on second thought, who would buy it!\u003C\u002Fp>\n\u003Cp>The core asset of Tianba Studio, the underlying code of its many games, is something no one but Chen Ba can replicate and apply.\u003C\u002Fp>\n\u003Cp>This means that if Chen Ba leaves, everything at Tianba Studio would be revealed for what it truly is.\u003C\u002Fp>\n\u003Cp>Unless someone else can understand those codes as if they were reading a book and know what they’re all about...\u003C\u002Fp>\n\u003Cp>Given this, Chen Ba knew long ago that transferring ownership of Tianba Studio is impossible; nobody would be foolish enough.\u003C\u002Fp>\n\u003Cp>Before any acquisition, they would definitely verify and audit the company’s assets, and how would Chen Ba explain the origin and characteristics of those codes?\u003C\u002Fp>\n\u003Cp>\"What does a high valuation have to do with me?\"\u003C\u002Fp>\n\u003Cp>After a sigh, Chen Ba said: \"Whether it’s hundreds of billions or trillions, it doesn’t affect my daily life either way.\"\u003C\u002Fp>\n\u003Cp>Would anyone actually be stupid enough to consider valuation as assets?\u003C\u002Fp>\n\u003Cp>Valuation is valuation; it can turn into money to some extent, but the premise is that you have to sell it. If it doesn’t sell, a high valuation is just a string of numbers.\u003C\u002Fp>\n\u003Cp>So...\u003C\u002Fp>\n\u003Cp>Chen \"Billionaire Monopoly\" Ba eating instant noodles without adding eggs or sausage, and drinking only instant coffee, all this makes sense.\u003C\u002Fp>\n\u003Cp>It’s truly not because he’s broke.\u003C\u002Fp>\n\u003Cp>It’s just that his money is mostly on paper and not cashable, so life goes on as it is.\u003C\u002Fp>\n\u003Cp>In a sense, Chen Ba’s net worth is several times that of Old Wang in real estate, but his quality of life hasn’t reached Old Wang’s level.\u003C\u002Fp>\n\u003Cp>Last time he visited Old Wang’s house, even the housekeeper drove a luxury car to buy groceries. The villa wasn’t just a villa, it was more of a \"manor,\" extremely spacious and luxuriously decorated, which made Chen Ba envious...\u003C\u002Fp>\n\u003Cp>But as envious as he was, he also understood that he and Old Wang are different.\u003C\u002Fp>\n\u003Cp>This is the gap between valuation-based wealth and actual assets!\u003C\u002Fp>\n\u003Cp>Guys like Old Wang, who are into real estate, might have net worths in the tens of billions, but they can afford multi-million dollar luxury cars, live in billion-dollar mansions, and maneuver around hundreds of billions in deals.\u003C\u002Fp>\n\u003Cp>And these are things that someone with a seemingly billions-worth valuation like Chen Ba cannot do.\u003C\u002Fp>\n\u003Cp>This might be why, when a real estate company previously went bust, it unexpectedly uncovered debts totaling in the \"trillions,\" causing a sensation online.\u003C\u002Fp>\n\u003Cp>Even if you sold that company and all the assets under the names of the owner and executives, it probably wouldn’t be worth that much; this is the power of \"cash flow.\"\u003C\u002Fp>\n\u003Cp>\"By the way, President Chen!\"\u003C\u002Fp>\n\u003Cp>Huang Qing suddenly remembered something and asked: \"Although we’ve acquired Mirage Electronics, its business is not closely related to us but rather has some ties with Xianyu Digital. Should these two companies merge?\"\u003C\u002Fp>\n\u003Cp>Xianyu Digital? Mirage Electronics?\u003C\u002Fp>\n\u003Cp>Chen Ba thought for a moment and realized that Huang Qing’s observation was indeed correct; Mirage Electronics doesn’t have much to do with Tianba Studio.\u003C\u002Fp>\n\u003Cp>Since their businesses have significant overlap with Xianyu Digital, these two subsidiaries can be merged to avoid unnecessary hassles.\u003C\u002Fp>\n\u003Cp>\"Mirage Electronics’ main business is producing gaming peripherals, right? Controllers, keyboards, mice, and the Galaxy Set?\"\u003C\u002Fp>\n\u003Cp>\"Yes!\"\u003C\u002Fp>\n\u003Cp>\"Then go ask them if they’re interested in expanding into a new business.\"\u003C\u002Fp>\n\u003Cp>New business?\u003C\u002Fp>\n\u003Cp>Hearing this, Huang Qing couldn’t help but ask curiously: \"What business? It must be related to us, right?\"\u003C\u002Fp>\n\u003Cp>\"Of course, it’s related!\"\u003C\u002Fp>\n\u003Cp>Chen Ba affirmed: \"Many of the games under our studio have derivative products for sale. We either license them or find someone to custom make them.\"\u003C\u002Fp>\n\u003Cp>Since they’re going to license them anyway, why not license them to anyone? Mirage Electronics is part of our family, authorizing them is like keeping the riches in the family, a win-win.\u003C\u002Fp>\n\u003Cp>As for the fact that Mirage Electronics mainly deals in digital technology and gaming peripheral hardware, and hasn’t done game-related merchandise before, lacking experience and whatnot, that’s not a problem at all!\u003C\u002Fp>\n\u003Cp>If they can make controllers and keyboards, they can certainly make phone cases, keychains, and fridge magnets, right?\u003C\u002Fp>\n\u003Cp>Moreover!\u003C\u002Fp>\n\u003Cp>Even if they think these products have low technical content or aren’t very profitable, they can always focus on licensing and make an article out of it!\u003C\u002Fp>\n\u003Cp>A \"Star Emperor\" co-branded controller, a \"Cultivation Fantasy\" co-branded wireless mouse, a co-branded mechanical keyboard, isn’t this a completely new revenue stream?\u003C\u002Fp>\n\u003Cp>Be bold!\u003C\u002Fp>\n\u003Cp>Chen Ba intends to discuss with Old Huang and Su later, to find a future path for Mirage Electronics. If they only keep doing controllers and keyboards, that’s really unambitious.\u003C\u002Fp>\n\u003Cp>After all, they are all gaming hardware; if they can make peripherals like controllers and keyboards, why can’t they make hardware such as motherboards, graphics cards, and memory sticks?\u003C\u002Fp>\n\u003Cp>It wouldn’t make sense not to...\u003C\u002Fp>\n\u003Cp>With Tianba Studio as a backing, Mirage Electronics is naturally suited to operate in the PC hardware business. They can rely on Xianyu Digital as a platform for selling the designs and productions, a complete service chain.\u003C\u002Fp>\n\u003Cp>The only issue is that if Mirage Electronics steps into the graphics card production field, Old Huang and Su probably won’t have a problem, but it’s hard to say for Daren Shuo, Shuo Star, and Refused Protection Jia.\u003C\u002Fp>\n\u003Cp>After all, they were partners before; now they could become competitors.\u003C\u002Fp>\n\u003Cp>But anyway.\u003C\u002Fp>\n\u003Cp>No matter how dissatisfied they are, as long as the \"Star Emperor 2\" and GAL League \"links\" remain, the relationship won’t turn too sour.\u003C\u002Fp>\n\u003Cp>The PC hardware market is large, with many brands, and the emergence of one more brand isn’t really a big deal...\u003C\u002Fp>",1345,"2026-06-06T03:03:37.618Z",1,"novelbin.me","3a2b29be6eceea05bf8cc435fb996685a03319b692f7ee4b2ec4dd10f49ead86","this-is-not-a-bug-but-a-game-feature-chapter-471","this-is-not-a-bug-but-a-game-feature-chapter-469",479,"https:\u002F\u002Fnovelzhen.com\u002Fimages\u002Fcovers\u002Fthis-is-not-a-bug-but-a-game-feature-cover.jpg"]