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Despite Alberg’s favorable impression of Bezos and his plans, Alberg’s unnamed friend still?declined to invest, because he considered?Bezos’ -million pre-money valuation of the company too high. But Bezos wouldn’t lower it. In the end, it took Bezos nearly a year to raise the money, which came partly from his family, because “lots of people passed” on the offering, including “a couple of small venture firms in Seattle” that found it too risky, Alberg recalled.

Depending on which stock-tracking service you follow, Microsoft is roughly even or a couple billion short of Apple’s value, with Microsoft briefly pulling ahead and then closing just shy of the lead during trading today.?Apple finished the day with a market cap of 4.64 billion to Microsoft’s 4.45 billion,?per YCharts.

Depending on the impact of the novel coronavirus on global supply chains and production capabilities, the demand could be significantly slowed, as GFK noted, however, smartphone vendors still have positive anticipations for the industry this year.

Despite his largesse, one of Xiao's colleagues said the professor is "too mean to buy himself new clothes" and always likes to have small denominations of money in his pocket. He is jokingly nicknamed the "stingy professor", said the colleague.

Deng said that positioning is the core of corporate strategy. In order to have a sustainable competitive advantage, enterprises should not chase existing markets, but create new ones－new demand and new customers and lead them, he said.