New York In late August, the heat is at its peak.
In Era Vanguard New York Office and Meeting Room, the air conditioner is turned on fully.
The screens of Bloomberg Terminal are lined up on the wall in a cold-toned light wall, scrolling real-time quotes from major global markets.
Zhao Chen is sitting at the main seat of the conference table, with the position summary sheet just printed by Chen Xi spread out in front of him--
Nvidia has about 94.1 million shares, Tesla has about 26 million shares,
SpaceX is about 5.4%, and its book Cash Reserves is about 750 million US Dollar.
Chen Xi was sitting on his left hand holding a laptop. On the screen was a timeline of all major transactions since the establishment of Era Vanguard.
Lin Shicheng is sitting on the right, with his Black Notebook and an archived copy of Schedule 13D Amendment Filing in front of him.
Three people, one Bloomberg Terminal, a wall full of data streams.
This is the first official internal Strategic Meeting meeting since Era Vanguard was established last year.
Su Wantang is also handling the annual audit closing work of Henglong Charity Foundation in China.
Shen Zhiyi is busy with the last round of compliance review before Yunnan Agriculture Group IPO at the Henglong Legal Department.
Zhao Chen didn't wait for them to come back - the matter to be decided today was not an area they were unfamiliar with.
Rather, they are already familiar with the content and can execute it accurately without additional participation in meetings.
"I have to decide on three things today."
Zhao Chen Straight to the point, no foreshadowing,
"First, the overall strategic framework of Era Vanguard.
Second, the positioning and division of labor of the two lines Nvidia and Tesla.
Third, how does the team structure fit into this framework? Let's talk about strategy first."
Chen Xi projects a map of the global technology industry onto the screen.
The core driving factors and competition patterns of the five tracks AI Computing Power, New Energy, Semiconductors, Consumer Healthcare and Baijiu are marked above.
"Era Vanguard's current positions are concentrated in three directions--
AI Computing Power, with Nvidia as the core;
New Energy, with Tesla as the core, SpaceX and Green Energy Technology as extensions;
And a small amount of cash flow allocation.
Baijiu and Consumer Healthcare are the positions of Henglong Capital and are not in the balance sheet of Era Vanguard."
"So the core strategy of Era Vanguard is to walk on two legs."
Zhao Chen stood up and walked to the screen, using his finger to draw a line between AI Computing Power and New Energy,
"On the left is AI Computing Power, and on the right is New Energy. There is no third way, there is no need for a third way."
He turned around and his eyes fell on Chen Xi's face,
"From today on, all Era Vanguard's research resources, all fund allocation, and all human investment will be focused on these two tracks.
Don't look at consumption, don't look at finance, and don't look at any industry that has nothing to do with these two main lines.
Focus is not a slogan, it is just doing two things, and then doing both things to the extreme."
Chen Xi's fingers paused on the keyboard for a moment.
She has seen too many funds waver between core strategies.
Only Zhao Chen never takes the middle road - he said he only does two things,
Then he really won't look at any third track in the future.
She wrote down this key point in her notebook, drew two vertical lines next to it, and marked it as "Era Vanguard Dual-Track Strategic Framework".
"Second, the positioning of these two lines is different."
Zhao Chen walked to the position marked Nvidia on the screen.
"AI Computing Power is our lowest configuration. This is the ballast stone of the entire Era Vanguard.
Once this stone is put down, it will not move again, and no one can persuade it.
All positions of Nvidia have been converted to permanent Core Assets, and the locking conditions Chen Xi and Lawyer Lin are both clear--
Huang Renxun resigns, or AI proves to be a bubble.
In addition, there are no take-profit lines, no stop-loss lines, and no time lines."
He moved his hand to the position of Tesla.
"The positioning of New Energy is different.
What Tesla and Nvidia have in common is that they are both companies that are least likely to be replaced on their respective tracks.
The size of the position is almost as large, and the will to lock the position is equally firm.
But the difference is that the competitive landscape of AI Computing Power is already very clear--
The CUDA ecosystem of Nvidia will be almost impossible to copy in the next few years, and competitors will not even be able to touch its shadow.
New Energy's competitive landscape is still evolving. Although Tesla's leading position is very obvious,
But traditional car companies and China's New Energy Vehicle Startups are desperately trying to catch up.
Therefore, our strategy for Tesla is the same long-term holding,
However, the allocation of research resources should focus more on tracking the industrial chain and dynamic assessment of the competitive landscape."
Chen Xi memorized this sentence verbatim.
She recalled that when Huang Renxun said "the beginning of a structural trend" on the conference call last month, Zhao Chen made the decision to lock up the position without hesitation.
But here at Tesla - from the opening of the position last year to May's Fight to the Death, every step was accurately adjusted amidst the fire of Short Sellers.
Also a long-term holding, Nvidia is static after confirming the trend, while Tesla is more like firmness in a dynamic game.
"Third, team structure."
Zhao Chen returned to his seat, picked up the tea cup and took a sip.
"Chen Xi, from today on you are no longer only responsible for transaction execution.
You are responsible for in-depth research on the industry chain of the entire AI and New Energy tracks.
The upstream and downstream of Nvidia, Supply Chain of Tesla, SpaceX's commercialization progress, Energy Storage technology iteration of Green Energy Technology – these are all yours.
I will give you the establishment of three researchers, the salary is Top Public Funds, you can choose the candidates yourself."
Chen Xi's fingers paused on the keyboard for a moment, then continued typing.
She didn't say "thank you" or "I'll try my best."
She just wrote down every word Zhao Chen said and marked three names next to it--
That was the researcher candidate she had been thinking about for a long time.
"Lawyer Lin, compliance and risk control are all yours.
Not just Era Vanguard's 13D filing and SEC inquiry response--
Henglong's cross-border compliance, Green Energy Technology IPO's pre-legal due diligence, Bubble Mary Post-Listing Information Disclosure,
You coordinate all these legal-related tasks.
Aunt Zhang will cooperate with you in the country, but her main battlefield is Henglong Legal Department,
You are the overall person in charge of the cross-border compliance structure of the entire group."
Lin Shicheng unscrewed the Fountain Pen cap and wrote a few lines in the notebook.
"Where are Su Wantang and Shen Zhiyi?"
Lin Shicheng raised his head, his voice was not high, but he asked very directly.
He's not worried about their positions - he's making sure the entire group's human resources puzzle is complete.
"Wantang is solely responsible for Henglong Charity Foundation and will no longer participate in the daily operations of Era Vanguard.
Zhiyi continues to lead her in the Henglong Legal Department, Zhang Qingxue, Cross-Border Mergers and Acquisitions and Listing Compliance are her main directions of attack.
Their respective tracks are already very clear and there is no need for me to arrange them."
Zhao Chen picked up the teacup and took a sip.
"What I need to arrange are all of you here. You are my core pillars on the two platforms Era Vanguard and Henglong.
We have not officially opened Strategic Meeting before, because we were still fighting in the past - fighting against Short Sellers, fighting against supervision, and fighting against public opinion.
Now that these battles are over, the bottom compartments of Nvidia and Tesla are also locked.
I need a framework that can last three to five years.
For future daily decisions, Chen Xi on the investment side and Lawyer Lin on the compliance side each have the final approval authority.
I only look at three things-major Strategic Adjustment, capital mobilization beyond a certain scale, and changes in team structure.
You decide the rest yourself."
Meeting Room was quiet for a while.
Nvidia on Bloomberg Terminal and Time-sharing Chart on Tesla are still beating silently, but no one is watching.
Chen Xi closed the laptop and leaned on the back of the chair.
Her career trajectory has ranged from domestic securities firms to private equity and now she is the investment director of Era Vanguard.
Almost every major transition is accompanied by the moment when Zhao Chen bets all his wealth,
At this moment, he handed over the daily approval authority-this means that he is finally no longer a gambler carrying the entire Chessboard alone.
Instead, he began to build a decision-making system that did not require him to make every move himself.