The Magician’s Memorial - Chapter 107



Only Krnovel

Episode 107 The dot-com era (1)

There was less than a month left in 1998.

I left all my plans behind and boarded a plane to the United States.

The hyenas on Wall Street were so aggressive that I couldn’t take any more time.

“Team Leader Han, what does that say on Wall Street?”

“We are getting calls from at least 10 places every day. “Thanks to Queendom Fund’s advocacy, they were at least ready to come to our company.”

“Well, your eyes will roll. “Because we own a lot of IT stocks.”

IT stocks were going crazy.

Amazon has risen more than 9 times in a few months, and IT stocks that we own in large quantities have also risen at least 5 times.

The problem was that we were carrying too much.

I started buying IT stocks when they were at their lowest point, and I owned over $40 billion worth of IT stocks.

Of course, he didn’t own $40 billion in stocks from the beginning.

The stocks purchased with $10 billion rose to $40 billion.

Since it only holds stocks of companies that are very profitable, it was natural that the hyenas on Wall Street would salivate.

“The hyenas on Wall Street are clamoring to share IT stocks.”

“It’s too much to eat alone. “If I get too greedy, I get an upset stomach.”

“You really think the IT bubble is starting.”

“Shouldn’t we hand the bomb to Wall Street before the bubble starts? “It’s not like we’re going to force you to hand it over, but if you ask, we can sell it at a high price.”

Who would believe it if they said the IT industry was a bubble?

IT was an industry that doubled profits a month just by holding it.

Well, in the long run, the IT industry was not a bubble.

Even after 10 years, companies such as Google, Amazon, and Netflix are at the top of the Nasdaq.

But that’s 10 years later, and starting next year, IT-related stocks will plummet.

“I guess I should meet him before the hyenas get their teeth into him.”

“When we heard that the CEO was coming today, Wall Street unilaterally notified us that he would come this evening.”

“I heard you’re coming, so I guess I’ll just have to wait. “I’ll have to sit down at my desk and wait.”

“Don’t do that, let’s go to the break room. “We have the highest quality beds.”

Is there a high-end bed in the company lounge?

At first glance, it may sound like a company with good welfare, but sleep was also a vicious trait that grew out of the company.

Well, it’s nice to have a space where I can relax comfortably.

“Representative, it’s time for your appointment.”

Although it feels like I didn’t sleep for even a minute.

Three hours had already passed, and the hyenas of Wall Street began to gather one by one.

“Is there a shower room at your company?”

“The shower room is right next to the lounge. “After you wash up, I’ll call a stylist.”

Who did you learn this from?

He was a team leader who made it possible for the company to solve everything.

Thanks to that, I was able to finish showering, styling, and head to the conference room.

“Hey, Kim! It’s been so long. Come to America often. “I’m just there because I want something to eat in Korea.”

“Isn’t this the Internet age? “You can see things happening around the world even in Korea.”

“Then it will be okay to look at Korean work in the United States.”

George came to the meeting room first.

After sharing a few silly jokes with him, others arrived one after another, and the conference room was filled with people who were well-known on Wall Street.

“Everyone is very angry. “I know very well why you are like this.”

“Isn’t it too much to do? “What are we supposed to do if SAVE Investment Company owns all the IT stocks?”

“You don’t know me that much? Japanese derivatives were also available at SAVE Investment Company, but I shared them with you. The same goes for IT stocks. “I was going to sell my shares if you wanted.”

“Hmm, shouldn’t you have said that a long time ago? “We thought you were intentionally avoiding contact.”

The atmosphere in the conference room became warm.

When I offered to share food with them, the hyenas were wagging their tails.

“I plan to exchange IT stocks, excluding Apple, for other stocks or sell them at their current prices. First of all, I would like to start with CUC International. “The situation is difficult these days, so you don’t mind giving me priority, right?”

“Hmm, this is a difficult place due to legal disputes, so we should negotiate first.”

CUC International was in trouble due to accounting fraud issues.

They would have to sell the company before the end of the year, and they were looking for one last chance to make a splash.

“Thank you for giving us priority negotiation rights. Are there any stocks you like that we have? “Of course, excluding IT-related shares.”

“Are games considered IT-related? “I would like to exchange Bliyard shares for IT shares.”

“With Blyard, it is possible. “I heard that the Vlayard game is becoming popular in Korea.”

Bliad was a very famous gaming company.

In particular, in Korea, a game called Starc gained nationwide popularity and became a game that was even called a Korean folk game.

Although Blyard had that kind of game.

This was before Stark’s popularity exploded, and it was also a company that changed owners frequently.

It is now owned by CUC International.

Sooner or later, CUC would disappear and ownership would shift to Europe.

“We would like to acquire 100% of Bliad’s shares. “If you calculate it at the current stock price, it would be worth approximately $1 billion.”

“Hmm, $1 billion is a reasonable price. “Then can I pick up $1 billion worth of IT stocks?”

“You can choose stocks other than Apple.”

Currently, Blyard’s stock price is only $1.

However, it was a company that rose 10 times in just 10 years, and 80 times in 20 years.

And Microsoft even tried to acquire it for a whopping $68 billion.

Since I was acquiring such a company for $1 billion, it was an exchange that left a huge profit.

In this way, I exchanged shares with several companies.

If the stocks I wanted were not available, I would receive cash.

After a marathon meeting lasting over 10 hours, I shared half of the stocks I owned, worth $20 billion, with Wall Street companies.

“It was a lot of hard work. But I don’t understand at all. Exchanging lucrative IT stocks for stocks such as game or movie distributors. “Is there something I don’t know?”

“I also shared Japanese derivatives with Wall Street. “It’s the same this time too.”

George from Queendom Fund had a question.

In his view, it was a negotiation in which I suffered a one-sided loss.

However, since there was a precedent that it was a Japanese derivative product, I did not deepen my suspicions.

“Still, the deal with Vanguard is a bit disappointing. Why did you receive stock in a DVD rental company? Well, since DVDs are rented over the Internet, some people see it as part of the IT industry, so the stock price is rising.”

“I’ve become very interested in movies these days. And I am thinking about doing business with Taewo Group.”

The name of the Internet DVD rental company was Netflix.

Vanguard owned 85% of the shares, and the company had not even listed its stock yet.

“Well, it’s not the negotiation you wanted. It’s as if the Wall Street guys stole something from you. What can I say? “I am the same way.”

“I don’t want to make enemies. “Please tell other people how I feel.”

“Don’t worry about that. “I will show you the right kind of favor on your behalf.”

I can’t even show condescension.

It’s not polite to show condescension after handing over stocks that will fall sharply in just one year.

***

next day.

I headed to Apple headquarters in California without a break.

Since the new headquarters had not been built yet, I entered the unremarkable building and saw many familiar faces.

Most of the people involved in producing MP3 players were from Korea.

The Innophone developers were also familiar with each other as they were once affiliated with Taewoo Electronics.

“I guess it’s nice to see so many familiar faces.”

“But the best thing is meeting Steve. Her face is very damaged. “Are you sleeping well?”

“Where can I find time to sleep? “The greatest masterpiece of my life is being created, but these days, sleeping time is so precious that if a drug was developed that would prevent me from sleeping, I would want to buy it.”

I was worried about Steve’s health.

But his expression was brighter than ever, so he no longer talked about his health.

“How far has the new product development progressed? “Taewoo Electronics told us to cooperate as much as we can in any way we can, but I’m not sure if it really helped.”

“Thanks to Taewoo Electronics, the time was greatly reduced. Instead of doing this, let’s go see the prototype.”

I moved deeper into the building with Steve.

It was a place that could only be reached through a triple-security facility, where Steve showed me a prototype cell phone.

It was an iPhone.

It was an iPhone that I was very familiar with, but I couldn’t help but exclaim in admiration.

“Has it already been completed to this point? “I thought it would take a few more years with current technology.”

“It’s not a finished product. There’s still a long way to go. “It’s just a prototype with very poor marketability.”

I tried operating the iPhone familiarly.

And within a few minutes, I understood why Steve said it wasn’t a finished product.

“The sense of touch is very poor. And the reaction speed also seems to lag.”

“It might be possible if semiconductor technology develops a little more, but for now, this is the limit. “We are making improvements in terms of software, but it is still very much lacking.”

For Steve and me, the iPhone had many shortcomings.

It boasted a level of perfection that was difficult to compare with mobile phones released today.

The most important thing was that it was a Wi-Fi enabled product.

“It seems like we are only a few steps away from completion. Honestly, I can be confident that even if it were released now, it would be considered an innovative product.”

“We can never release it like this. “You can never see a product with such poor quality being released with Apple’s logo on it.”

Steve was very obsessed with perfection.

He was a perfectionist who paid attention to even details that were not visible to the eye.

“Will InnoPhone 2 hold up until then?”

“Thanks to Innophone, I gained some time. Now, shouldn’t the rest of my time be earned through Mac? “I can’t receive your help forever.”

Steve’s words were full of confidence.

After his return, sales of most of Apple’s products increased, and sales of Macs in particular increased significantly.

The computer especially loved by professionals was the Mac.

This was thanks to Steve’s perfectionist tendencies.

“I brought with me some technologies that could be helpful in developing the iPhone. In particular, it also includes technology to solve the problem of touch sensitivity.”

“Of course, all patents are technologies owned by Taewoo Electronics, right? “Are you trying to extract how much patent fees you can get?”

I was speechless.

Taewoo Electronics’ patents included in the iPhone alone number at least 100.

Among them were key patents, so when the iPhone was released, the patent fees paid to Taewoo Electronics were beyond imagination.

“I would appreciate it if you thought that Taewoo Electronics is also making efforts to accelerate the development of the iPhone.”

“It’s just a joke. “If it weren’t for you and Taewoo Electronics, the prototype of the iPhone would have been several years later.”

It was Steve, tapping my shoulder and smiling.

Excuse me, I’ll put in some straws.

I smiled awkwardly as an apology.