Now incidentally, often bank loans to corporations are short-term, technically, so the bank is both lending short and borrowing short.
顺便说一下,技术上讲,银行借给公司的都是短期贷款,银行同时进行短期借贷业务
This was a process that was perfected on an industrial scale by the company Genentech in California, in the 1970s.
这就是一个完美的工业规模的流程,是加州的一个基因技术公司在七十年代,所完成的
We did that, we came up with very good Chinese search engine technology, and we signed up a lot of the Chinese portals in a very short period of time.
我们开发了,很好的中文搜索引擎技术,并在短期内,和许多门户网站公司,签了合约。
If you buy stock in a high tech company, that sells things on the internet, you might expect it to fluctuate enormously.
如果你选择买在网上进行销售的,高新技术公司的股票,它可能会变化非常大。
Technically, Fannie and Freddie are private companies -they're traded stocks; you can buy shares in Fannie and Freddie.
技术上,房利美和房地美都是私人公司,它们的股票可流通,你可以购买房利美和房地美的股票
Most companies in the world today spend about 70 % of their IT dollars on what I call feeding the dinosaurs, just maintaining the old systems.
当今世界,大部分公司70%的信息技术成本,都用于喂饱恐龙了,也就是,维持旧的体系。
So in the summer of 2001, we decided to switch gear from a backend technology provider to a front-end consumer-oriented search service.
于是在2001年夏,公司决定从后台技术提供者,转变为直接面向消费者的搜索服务提供方。
Shortly after we decide to become a consumer brand, I realized that our technology was not as good.
公司转型后不久,我意识到我们的技术没有那么好。
We need to change to a different business model so that we can come up with better technology, and the better search technology can be appreciated by the market.
公司要改变以往的商业模式,来促进新技术的研发,而且新技术,是受市场欢迎的。
We didn't have a feasible business model, let's put it this way, because when we started, the business model is to provide the backend search technology to the portal companies in China.
或者说没有一个,可行的商业模式,因为公司成立初期的商业模式,是给门户网站公司,提供后台搜索技术。
Internet industry was in a very difficult time at that time, at that period, and we gradually realized that this company cannot really survive if we stick with the backend technology providers thing.
当时互联网行业正处于困境,如果坚持做后台搜索技术提供商,这个公司将无法生存。
And we learned a lot about how to do that correctly and arguably became best in the world at managing inventory and dealing with technology transitions after that near-death experience.
我们从中学会了,该如何正确地完成转型,现在可以算是世界上,库存管理地最好的公司之一,也成为了最会应对技术转型的公司。
The big Pharma hasn't really done research for years but then he married in the biotech area and therefore biotech companies aren't that well run but they spent a great deal in research for the large molecule drugs.
大型制药企业已经很多年没有做过相关研究,但它却与生物技术领域合作,因此导致众多生物技术公司经业绩下降,但生物技术公司在大分子药物的研究上,却投入了很多。
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