Chapter 157: Brother Lei’s Helplessness
Translator: Nyoi-Bo Studio Editor: Nyoi-Bo Studio
Brother Lei explained the specific situation to him. The person in charge from the EU’s Anti-Monopoly Department that targeted Da Mi Technologies, and the one who decided to issue a ticket to them, was a woman named Margaret Vistag. She had been an Anti-Monopoly Commissioner of the EU since 20X4. In the beginning, n.o.body paid attention to her, who was a member of the weaker s.e.x. However, within just a few short years, this old lady had many moguls in Silicon Valley knocked out with her very own hands.
At the very beginning, when she had just entered the office, she had her sights set on Google and conducted Anti-Monopoly investigations towards the company. But for tech giants like Google, they had countless connections everywhere and they were deeply aware of the methods to deal with the governments of various countries. If people sued them for monopolizing, they could, in return, smack a hat of “Economic pressure” on them. Anybody could imagine the sheer difficulty to force giants like them into submission. But progressions on the case left everybody jaw-dropped. After six months of investigation efforts, Margaret, who had solid proof in her hands, issued them a ticket amounting 54 billion dollars, accounting for 10% of Google’s annual income for that specific year. The higher-ups in Google had no choice but to concede and pay the fine. The hearts of Google’s shareholders were bleeding; it was literally even more painful than to cut through their own flesh. They hated Margaret, that old witch.
After she ruthlessly stabbed a knife in Google, Margaret turned her head towards another giant — Fruit Incorporation. Not long after, a super ticket of a 110 billion dollars was issued, causing an uproar in the tech community. Fruit Inc. struggled relentlessly. The company’s CEO traveled to the EU to negotiate many times, but to no avail. At last, they still helplessly paid the fine to settle things. Subsequently, she continued her efforts. Margaret, whose combat power was getting stronger and stronger, successively swept through Amazon, Facebook, Gaotong, and other tech giants. The acc.u.mulated fine was over a staggering 380 billion dollars.
Legend said that there was no fine that Margaret could not issue, only companies that she was too lazy to look at. It could be said that the tech moguls hated her to the bone, but the civilians in Europe loved her to the maximum. They revered her as the “the pioneer of Antimonopolism,” or “Iron lady,” and made her their idol.
This time, Margaret had her eyes on Da Mi Technologies. With a 7.5 billion fine, it was obvious that in the eyes of this old lady, she already cla.s.sified Da Mi Technologies as a tech giant on the same tier as Google and Fruit.
“Why? Our product is so fine, and it provided so many benefits for people, why are they punis.h.i.+ng us for doing well?” The lobbyist that Da Mi Technologies hired strived their best to argue, expressing that this was not fair.
“It’s not wrong for you to do very well, but it affects the others from doing better. Your Love Mi Robots have occupied 99% of the market, and therefore other companies are unable to develop, causing consumers to lose even more product choices. This is an absolute bane towards the consumers. We must stop any kind of monopolization from happening,” said Margaret sensibly.
The lobbyist from Da Mi Technologies was left speechless. He was totally bested by her logic. Was it wrong for me to make something good? Must everyone be equals?
…
“It’s a 7.5 billion dollar fine, brother Lei; have you decided to pay it or not?” Chen Jin asked after he understood the whole situation.
“I…” Lei Xiao Jun was startled for a moment. “That old witch Margaret is very shrewd. The Love Mi Robot sold more than 25 million units in the European market. The profit was 2,000 dollars per unit, so the total profit was about 50 billion. Their demands were for us to pay the fine within two years’ time and within that time period, we probably won’t get another ticket. If we were to pay the fine and the Love Mi Robot sell another few ten million units, Da Mi Technologies could still earn some money.”
“Brother Lei, can you please have some aspiration?” Chen Jin shook his head and said, “7.5 billion, isn’t this equivalent to Da Mi’s net profit for two whole years? Do you know there’s nothing you can’t do with this money? If you keep the money, you won’t be able to spend all of it even in a few lifetimes. If I were you, I wouldn’t pay even a single cent. I would exit the EU market directly. What kind of h.e.l.l is that place? Can you even do business there?”
“That is what I thought. But the sales channel that Da Mi established in the EU wasn’t just the Love Mi Robot. Cellphones, televisions, rice cookers, air purifiers… we sell all these products. After the Love Mi Robot became popular in Europe, sales also increased for Da Mi’s ecological chain of products and brought up a bunch of Mi fans. The popularity of Da Mi in Europe is nothing less than that in Z.”
“So… You intend to pay the 7.5 billion dollar fine?” Chen Jin rolled his eyes.
“I can only give in this time. Besides, Margaret will be resigning soon. There shouldn’t be any more problems occurring after this ticket.”
“Will it be fine after Margaret resigns? Do you think this is good? Are you aware that a new broom sweeps clean? What If the new Anti-Monopoly commissioner was someone even greedier than Margaret that skips the ticket-issuing part and directly cracks down on Da Mi? The moguls in Silicon Valley will be accused all at once. Do you think that they would have mercy towards Z nation’s Da Mi Technologies?” Chen Jin told him his a.n.a.lysis.
Cold sweat dripped down from Lei Xiao Jun’s face. There was a chance that Chen Jin’s guess might actually happen. But exiting the European market just like that was impossible. By now, the EU market had become Da Mi Technologies primary market. n.o.body would forsake their most profitable market just because of mere guesses. Da Mi’s shareholders would not agree on it either. Therefore, not only did Da Mi have to disclose this, they still had to face the unknown future.
Aside from a few words of consolation, Chen Jin expressed his powerlessness. On the patent fee of 250 dollars per Love Me Second Gen sold, never would he reduce it out of sympathy. Xing Hai Technologies had no business in Europe. No matter how big of a fine Da Mi had to pay, it would not affect Xing Hai Technologies even by a tiny bit.
…
On the 29th of July, the EU’s Anti-Monopoly Department disclosed the punishment towards Da Mi Technologies: The Love Mi Robot const.i.tuted monopolization in the cleaning robot market, severely upsetting fair compet.i.tion. The total fine was 7.5 billion dollars.
Once this news was announced, it caused an outburst on the internet. The netizens in M Nation were jubilant.
“Beautifully done!”
“Margaret, I love you!”
“I think that this company should have been punished way earlier.”
“Although I really like the Love Mi Robot, sorry, the people from Z are earning too much from us, this is unfair!”
The Z nation’s internet exploded as well, but in a different way. The netizens were all furious.
“It is wrong to do well, but okay if everybody sucks together? What kind of logic is this?!”
“7.5 billion dollars, ChinaSat also got fined three billion by M nation’s Ministry of Commerce. This is double that amount!”
“Do they think that companies from Z Nation are all sheep and pigs that should all be slaughtered?”
“Brother Lei, exit the EU market! If you can’t get money from the foreigners then get it from us, we’ll buy Da Mi’s products!”
“The EU is fining our companies, why are we not fining theirs? What are the related departments doing?”
The Internet was filled with all kinds of heated discussions. The netizens were enraged, and all of them threatened to retaliate.
However, Da Mi Technologies, who was the center of the topic, kept silent. Even if there was innumerable support from the netizens, they did not dare to make any comments, fearing that they might cause an even bigger dispute.
…
“Mr. Chen, your decision to not expand overseas was too wise. This 7.5 billion dollar fine is too ugly to watch!”
“Previously, I didn’t quite understand the boss’s actions. Only now do I realize that all of these were in the boss’s predictions. We are all clouded by the little amount of benefits presented before our eyes.”
“Actually, you would have known after Hua Yao was completely squeezed out from M Country’s market. In the high-tech field, the westerners will hold us back using any means! If Xing Hai Technologies is to become a giant like Hua Yao in the future, the pressure we’ll receive will only increase, as well as the fine!”
“I don’t think that it will necessarily happen; the foreigners will definitely impose restrictions on the Wa-wah Robot, but for the Little Star learning machine, definitely not. This is an important weapon for a country, it is something that will increase a nation’s compet.i.tivity, they might even beg us to sell it to their country. The genuinely good stuff will make them realize that it will be a dumb move to restrict it and that closing themselves up will only do them harm!”
“But… why should we sell such a good product as our Little Star learning machine to them?” said CEO Ling Dong Jun. At that moment, the western thinking block in his brain had basically vanished. His thinking was completely in sync with his boss. Having gone through a period of craziness and understanding the might of the smart learning program, the inside of his heart swelled. He was no longer admiring the west.
The collective transformation of the executive personnel made Chen Jin nod his head continuously. Indeed, money was very important, but so was dignity. If people were to throw away their dignity for the sake of money, they would not be happy no matter how much money they made. This corresponded to the motto he established for Xing Hai Technologies: “Have dignity, confidence, believe in your own work, and you can make the world a better place.”