Elon Musk's eyes changed.
It's not scrutiny, it's not an accident, it's something close to resonance.
Because he himself said similar words countless times.
Now, coming from the mouth of a twenty-two-year-old young man, he uses the same logic and the same tone.
Zhao Chen continued, "Your First Principles is not a technology, it is a way of thinking.
It allows you to jump out of the 'everyone else does it this way' trap and go straight back to the essence of the problem.
You said something - 'If you really want to create something new, you must rely on the methods of physics.'
Physics doesn't care about what you have done in the past, or whether others think it is possible. It only cares about one thing - does it violate the laws of physics?
If it's not violated, then it's possible. The rest is just an engineering matter."
Elon Musk was silent for a long time.
Then he smiled, much deeper than before. "You saw my 2013 TED interview."
Zhao Chen nodded. "I've seen it. It's not just that one.
I have watched almost all your interviews, all your press conferences, all your Twitter."
Elon Musk looked at him and suddenly said something strange. "You remind me of someone."
Zhao Chen asked, "Who?"
Elon Musk thought for a while and shook his head.
"I don't remember. Maybe it's me. The me twenty years ago.
At that time, I had just sold PayPal, and all I could think about was Mars and electric cars. Everyone was laughing at me. But I didn't care.
Because I know - they laugh because they don't understand. When they understand, they stop laughing."
Zhao Chen didn't answer. He knew the kind of loneliness Elon Musk was talking about.
Elon Musk stood up, walked to the window, and looked at the Hudson River.
The sun shone on the side of his face, and his expression became a little softer.
"Zhao," he said without looking back, "Starship is currently raising funds. Fidelity is leading the investment, and I am also participating.
The valuation is about 21.5 billion. If you are interested, I can give you part of the quota.
About 50 million to 100 million US Dollar."
Zhao Chen's fingers tapped lightly on the table.
SpaceX's March 2018 financing -- he remembers it.
Previous Life He had seen in the news that Fidelity Investments led the investment, with a valuation of 21.5 billion US Dollar, and Elon Musk himself followed the investment with 100 million US Dollar.
This investment will never be lost no matter how you calculate it.
"100 million US Dollar." Zhao Chen said, "I will vote."
Elon Musk nodded and was about to speak when Zhao Chen suddenly spoke again.
"Elon, wait a minute." Zhao Chen leaned forward slightly and his tone became serious,
"I know this is the limit of what you can get out. But I want more."
Elon Musk leaned on the back of the chair, looked at him, and said nothing.
Zhao Chen said, "I can see the value of this project Starship. It's not five years, not ten years, it's the next twenty years."
If humans really want to go to Mars, Starship is the only tool that can accomplish this task.
I am 100% sure of this judgment. So - I want to get more shares.
If you can give me more, I can accept a higher valuation."
He paused and said a number:
"The valuation is 25 billion US Dollar. It is 16% higher than the current 21.5 billion. If you give me more shares, I will give you a higher price."
Elon Musk looked at him with a hint of amusement in his eyes.
"Are you willing to pay a 16% premium just to get a few more shares?"
Zhao Chen said, "Not a little. It's as much as possible. 100 million US Dollar is not enough, I want more."
Elon Musk was silent for a few seconds, then shook his head.
"Zhao, the share of this investment has been determined before. Fidelity took most of it, and I kept part of it myself.
The 50 million to 100 million US Dollar I can give you has been freed up by reducing my own share. No more, it will be gone."
His tone was calm but firm.
It's not "I don't want to give it", it's "I can't do it".
Zhao Chen leaned back in the chair, not hiding the disappointment on his face.
He knows that Elon Musk is telling the truth.
For this level of financing, the shares have already been divided before entering the room.
Being able to set aside a part for him is already out of the favor of "Era Vanguard", who has a heavy position in Tesla.
Wanting more is really unrealistic.
But he was unwilling to do so.
He lowered his head, looked at the water glass on the table, and was silent for a few seconds.
Then he raised his head and looked into Elon Musk's eyes.
"Elon, what if I buy it from other shareholders?"
Elon Musk's fingers paused on the table for a moment.
Zhao Chen continued, "Fidelity took most of it, and there are some Existing Shares things left.
If someone is willing to transfer, I am willing to acquire it at a premium. The valuation is not 21.5 billion, not 25 billion, but a price that the market can accept.
If anyone wants to quit, I'll take it."
Elon Musk looked at him, his eyes changed.
It's not about looking at it, it's about seriously thinking about the possibility of this matter.
"You want to acquire it at a premium from other shareholders?" Elon Musk repeated.
Zhao Chen nodded. "Yes. As long as someone is willing to sell, I am willing to buy. The price can be negotiated."
And--I just want the shares, no strings attached.
No Board of Directors Seat, no veto power, no right to interfere in business operations.
I just want to hold more shares of SpaceX because it's going to be the greatest company of all time."
Elon Musk was silent for a long time.
He stood up, walked to the window, and looked at the Hudson River.
The sun shone on the side of his face, and his expression became a little unpredictable.
Zhao Chen didn't rush him.
He knew it would take time to digest.
SpaceX's Equity Structure has always been very stable. Elon Musk himself is absolutely Controlling Shareholder. The remaining shares are in the hands of Fidelity, Google, and some early investors.
Most of these people have held SpaceX shares since 2012 or even earlier and will not sell them easily.
But if there's a high enough premium, anything can happen.
Elon Musk turned around and looked at Zhao Chen. "How much premium are you willing to pay?"
Zhao Chen thought for a while and said a number.
"30% to 50% higher than this round's valuation."
He paused and said, "If anyone wants to sell it, the price can be negotiated.
My bottom line is - as long as it's no more than twice the current valuation, I'll consider it."
Elon Musk's eyes narrowed.
Double valuation: 43 billion US Dollar. Double the current value of 21.5 billion.
This premium is enough to make anyone tempted.
"SpaceX doesn't have many shareholders."
Elon Musk walked back to the table, sat down, and his tone became like discussing a feasible plan.
"Fidelity has just invested in it and will not sell it. Google is also a long-term shareholder and is unlikely to withdraw.
However, there are several early investors who came in in the 2012 round. Their fund period is approaching and they may need to exit.
If you can offer a high enough premium, they will most likely be willing to sell it."
Zhao Chen's heart beat a beat faster.
He tried to keep his voice calm. "Can you contact me?"
Elon Musk glanced at him and didn't answer immediately.
He is weighing.
Allowing an external investor to acquire shares from Existing Shares at a premium means that SpaceX's Equity Structure will undergo some changes.
But if this investor is just Financial Investment, does not seek Control, and does not interfere with operations, then this change is controllable.