The Magician’s Memorial - Chapter 325
Only Krnovel
325. If you endure, you will win the fight (4)
A week has passed since the Apple Car was launched.
Nevertheless, rather than decreasing, Apple car sales were actually increasing.
There was a smile that couldn’t be hidden on the face of the planning director who came to give a report.
“Apple Car sales have finally surpassed 100,000 units.”
“They said it would take 15 days, but the number exceeded 100,000 in a week.”
“The period has been shortened because sales continue to rise. The response in the Chinese market has been much warmer than expected. I think we made a mistake in predicting potential customers with the ability to purchase the Apple Car.”
The Chinese market was a truly amazing market.
Obviously, GDP per capita was only 1/10th of Korea’s, but the number of customers who could afford to buy expensive products was always higher than expected.
“Isn’t there a shortage of supplies?”
“Thanks to the Chairman’s order to produce as much as possible at the Chinese factory, there is no significant shortage of supplies. And there are no major problems as the newly contracted Chinese factory will soon begin producing the Apple Car.”
Even if there was a shortage of Apple Cars, it didn’t matter much.
Because Tesla was making up for what was lacking.
“I heard that Tesla is also getting a good response from the Chinese market.”
“As Apple cars became scarce, many customers flocked to Tesla stores.”
“Don’t release the stock until Tesla runs out of stock. Build up inventory and then release it when Tesla’s stock is all gone.”
It was time to adjust the speed.
Since we wouldn’t be able to run for long if we ran alone, we planned to slow down a bit so that our running mates could catch up.
Of course, there were other plans as well.
This was also to ensure that they could gain at least a slight advantage in the fight against short-selling forces.
“When the report is over, please call President Han.”
“It’s on standby.”
The next person was President Han.
A smile was also on his face as he entered, touching the baton with the planning director.
“Quantum Fund CEO George appeared in the media again today and gave an interview criticizing short sellers. Tesla’s stock price is rising rapidly with each interview.”
“This is why I like CEO George. It’s rare to find someone who knows how to do something nice on their own without being asked.”
“There is a lot of fuss in the media right now. An evil savior backed by the Saudi sovereign wealth fund VS the king of short selling with hedge funds. Articles are pouring out around this structure.”
It was a perfect structure for the media to cover.
Since two famous people on Wall Street faced each other, interest was bound to increase.
As interest increased, Tesla sales also increased.
“It must be a little disappointing for the Saudi sovereign wealth fund. It could have received all the attention alone, but CEO George has to step in and share it.”
“I contacted the sovereign wealth fund and it seemed good. They seem to think that just being on the same team as the Quantum Fund will increase the reputation of the Saudi sovereign wealth fund. And it doesn’t mean that they have lost their place as the main character in this short selling war.”
The Saudi sovereign wealth fund was still aggressively buying Tesla stock.
Rather, the short-selling group was faltering due to problems with fund circulation.
“Now that a quantum fund has been added to the Saudi sovereign wealth fund, it is time for the short sellers to raise their white flag.”
“It is highly likely that they will not raise the white flag right now. They seem to be trying to exit at a time when they can reduce losses even a little.”
In short selling, time was money.
Because we had to borrow stocks from the financial sector and throw them into the market.
I had to pay interest costs every month, and in order to end my short selling, I had to somehow buy back the stocks and repay them.
“Trying to escape without shedding a single drop of blood is greedy. If you escape now, you can get out of the line with a little blood, but if you keep waiting, you will lose your life.”
“Isn’t there a way to change things? It looks like they will try to reduce the damage, even if it means using illegal methods.”
“Retreating now is the best way to reduce damage. Tsk tsk.”
The chances of the short sellers winning were very slim.
Unless a Tesla suddenly exploded or the factory caught fire, defeat was certain.
“Just in case, please more than double the number of security personnel at the Tesla factory.”
“I will tell Captain Kang. And we will install more CCTV to completely eliminate blind spots.”
Although the short selling force was a problem.
Actually, it didn’t matter much. Because we have already succeeded in pioneering the electric vehicle market.
This year, Taewoo, Kai Motors, and Tesla will launch electric vehicles, but starting next year, even GM will join the electric vehicle market.
While other car companies are worried.
We will be ready to completely dominate the electric vehicle market.
* * *
A few days later.
While I was enjoying a beer in Captain Kang’s office with President Han, I received a call from David.
“What are you doing at this hour?”
[I received a call from a short seller. It seemed like they wanted to end short selling.]
“Then it can be over. Why did you contact me?”
[Aren’t you asking for help? If short selling is liquidated at the current stock price, the loss will be at least $10 billion.]
“You’re asking for help since it’s your turn to get hit after hitting it as hard as you can.”
Short sellers also used various methods.
They used everything from media play to financial company reports to somehow lower Tesla’s value.
But Tesla’s stock price was still rising, and they were losing billions of won every day, so they even asked me for help.
[The contact did not come from Canos, which is leading the short selling, but from representatives of other hedge funds.]
“You mean to stab Kanos in the back.”
[Isn’t betrayal for profit common on Wall Street?]
“I can help, but it would be better to leave this to the Saudi sovereign wealth fund rather than to me.”
[You are thinking of giving the full credit to the Saudi sovereign wealth fund.]
This was not the end of the relationship with the Saudi sovereign wealth fund.
So, it wasn’t difficult to give up credit, which was only honor, in order to maintain a good relationship.
“Please connect us with the short sellers who want to take a stop loss and the Saudi sovereign wealth fund.”
[Wouldn’t Saudi Arabia’s sovereign wealth fund reject it?]
“Let me tell you this in advance. And there is no reason for the Saudi sovereign wealth fund to refuse. It is also an opportunity to end the war against short sellers, and there is nothing good about prolonging the fight.”
[Then we will talk again with the short sellers and contact you.]
A CEO was listening to the phone call with David.
He took a can of cold beer out of the refrigerator and held it out to me.
“Congratulations. The war against short sellers will end soon.”
“It’s still too early to celebrate. And due to the nature of electric car companies, short sellers will be attracted to the company periodically.”
“Still, since we won the first battle, won’t the short sellers slow down for the time being?”
“That’s why we brought the Saudi sovereign wealth fund into this work.”
“I will contact the Saudi sovereign wealth fund. I will not refuse the last move to take down the king of short selling.”
A CEO immediately contacted the Saudi sovereign wealth fund.
He explained the short-selling situation in detail, and as expected, the Saudi sovereign wealth fund accepted the offer.
“The Saudi sovereign wealth fund says it will meet with short sellers tomorrow to negotiate.”
“Tomorrow, the king of short selling will be isolated.”
“Tesla’s recognition as a company that defeated the king of short selling will increase further.”
The real winner of this fight was Tesla.
Saudi Arabia’s sovereign wealth fund entered this fight to gain fame.
Naturally, it was Tesla that gained both recognition and actual profits, and I, who held the largest share, was the real winner.
“As soon as news comes out in the media tomorrow that some of the short-selling forces have betrayed Kanos, this short-selling will be put to rest.”
“I’m already looking forward to tomorrow.”
We celebrated in a small way by toasting with cans of beer.
When I took a sip of beer. Captain Kang rushed into the office.
“Chairman, I received strange news from the prosecution line.”
“On the prosecution line? Did they even conduct a search and seizure? There wouldn’t be any affiliated companies that would have a problem.”
“It is not a problem with Taewoo Group’s affiliates, but an E-sports problem. It is said that there was a match suspected of being rigged at the Stark Tournament, which is officially sponsored by Taewoo Electronics.”
Match fixing.
It’s happened at least once in most professional sports.
It was also something that would not disappear as long as there were people betting on the win or loss of the game.
There was no such righteous idea of eradicating match-fixing at all.
I’m just angry at people who try to ruin the game I put so much effort into.
“Are there any players in the Taewoo Electronics Gaming Team who participated in match-fixing?”
“I’ll have to do more research, but as far as I know, there isn’t any.”
“You said our line prosecutors would be in charge of this investigation, right?”
“That’s why we were able to get the information early on.”
“It’s been a while since I needed to put more effort into the inspection line. Captain Kang should conduct the investigation first.”
Captain Kang was able to do what Yangji could not do.
From the accuracy of the investigation to the speed with which it was conducted, Captain Kang was one step ahead of the prosecution.
This was not to disparage the prosecution organization, but because Captain Kang had the authority to freely use SNS and portal sites owned by Taewo Group.
“It is said that most match-fixing proposals are exchanged through social media messages.”
“I’ll tell the IT team. I’ll make sure Captain Kang can see all messages containing match-fixing-related keywords.”
“If you do that, we can get solid evidence within this week.”
“Please move right now.”
Is it because it’s been a while since I’ve been on set?
Captain Kang ran out with a bright face.
On the other hand, President Han’s face was extremely dark.
“Are you planning on hiding the match-fixing?”
“The more you hide something like this, the more it will backlash. We will make sure that everyone involved in the match-fixing is punished by law.”
“If that happens, the E-sports industry will be greatly diminished. In particular, in the case of the Star Wars game where Taewoo Electronics is the main sponsor, there is a high possibility that the game itself will be broken.”
Games where match-fixing occurs lose their value as E-sports.
Even if a player made the slightest mistake, suspicions of rigging were raised, and even if a low-ranked player was lucky enough to win, there was bound to be suspicion that the match was rigged.
“Even if the life of the E-sports version ends, the life of the game itself will not end. Is it called the national game for no reason? And with Stark 2 coming out soon, it is also time for it to end.”
“So do you plan on finishing the main Stark spawn?”
“Wouldn’t this or next year be the last time there will be a game competition hosted by a broadcasting company? We should change the method to sponsoring individual broadcasts or small-scale competitions.”
It was the moment when the national game star came down from his seat.
It was a game that I loved a lot because it was thanks to Stark that Taewoong Communications was able to take the top spot in the industry.
But times have changed, so it’s time to come down.
The sadness was not that great because the Taewoo Group was already firmly in control of the game that would lead the next era.
“It was a competition I watched whenever I had time, so I’m very disappointed.”
“What can we do about something that has already happened? Rather, I am looking forward to tomorrow. What kind of moves will the king of short selling who has been betrayed by the powerful make?”
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