The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 30

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The office, accessible by elevator, was quite a sight from the moment you stepped inside.

It was clearly a workspace, but the attire of the people was, to put it nicely, diverse, or, more bluntly, a mess.

A man in shorts that looked more appropriate for lounging at home was among the better-dressed.

A woman wore a mini-skirt and a crop top.

Another man, who was Black, sported gold necklaces and shining rings, resembling a gangster.

The only ones in suits were David, Jung-hoon, and Peter Thiel, who stood waiting for them.

“Hahaha, surprised? People from the East tend to be a bit taken aback. We believe imagination comes from diversity. So…”

It was a diverse mess, indeed.

More people were chatting than working.

“It’s also coffee time, and we value collaboration, so it’s always lively.”

Jung-hoon thought even a fish market would be quieter.

“I don’t mind. New wine in new bottles; a new industry with a new atmosphere is good too,” Jung-hoon said calmly, seemingly unconcerned.

But he made sure to say what needed to be said.

“As long as we make a profit, I don’t care how we work. As long as we make money.”

Peter’s expression tightened slightly.

He knew the biggest cause of the dot-com crash was meager profits compared to high growth potential.

Most companies faced bankruptcy with huge deficits.

Currently, X.com was gaining popularity with its convenient online money transfers.

However, expenses were increasing as much as its popularity.

They needed to secure investment to escape the valley of death [the period when a startup is burning through cash faster than it’s earning revenue] and soar high.

But the IT bubble was bursting, and everything was collapsing.

Investors were hiding their money, and banks began to call in loans.

In a situation where bankruptcy was looming, it was more profitable to recover even a dollar first.

“Who is this friend?” Peter asked David.

“He is the owner of our Legend Company.”

“Wow, a friend who looks like a high school student is the owner of the company… You’ve brought quite the big shot.”

Peter looked at Jung-hoon with curious eyes.

“Not really a big shot… Aren’t there many people in Silicon Valley who start businesses at a young age?” Jung-hoon asked, giving an unexpected answer. He spoke slowly.

“At that age? There are occasionally companies founded with ideas. But a venture capital firm like yours is a first.”

At that moment, the door to the conference room opened, and a man with a smiling, pleasant face entered.

Jung-hoon’s eyes widened.

‘He’s finally here.’

“Hello, I’m Elon Musk.”

He spoke English with a distinctive South African accent.

“You want to invest?”

“Yes.”

“As you know, we don’t need investment. Let’s not waste time.”

David’s expression darkened at those words.

If you make an appointment and sit at the table, you should negotiate.

Otherwise, there was no need to make an appointment.

David was wavering.

Even legendary investors can make mistakes at first.

He had come this far with great effort.

He felt offended.

Jung-hoon sensed that he had to step in.

“David, that bastard is full of crap.”

He said, knowing they wouldn’t understand Korean.

“What?”

“Please interpret from now on. We can’t be fooled by bluffing when we’ve come all this way.”

“Are you sure?”

“If it doesn’t work out, we can just say we came for sightseeing.”

“Okay. I understand.”

Jung-hoon raised his head and looked up.

The eyes of the two men were on Jung-hoon.

Their gaze underestimated him because of his young age.

But Jung-hoon had no intention of backing down or being led around.

There were plenty of places to invest in the world.

Confidence was crucial in this situation.

He slowly opened his mouth.

And David began to interpret.

“You don’t need investment? Then there was no need to come. I wonder if we’re just wasting each other’s time.”

Musk retreated a step at Jung-hoon’s attack.

“That’s not it, I heard you were investing from Korea, so I was curious and called you.”

“Is the bubble burst not affecting you here? Even Amazon’s stock has plummeted, and they’re looking for investors everywhere.”

Anxiety flashed across Musk’s face at Jung-hoon’s words.

“We… are a high-growth company, so investors are lining up.”

Jung-hoon was sure it was a lie.

The uneasy expression, the wavering eyes, and the brief hesitation in his words gave him away.

“Is that so? Then there’s nothing we can do.”

He raised both arms, gesturing that he was giving up.

“No, but we’ve come all this way, let’s at least check the conditions. How much are you thinking of investing?”

“Ten million dollars.”

Jung-hoon spoke directly without going through interpretation.

It’s better to bluff alone.

If David gets flustered and the other party notices, everything will fall apart.

From now on, it’s a battle of wills.

A moment of silence flowed.

A ten million dollar investment.

An amount that no one could easily receive in the current situation.

They must have been taken aback by the amount.

They were clearly racking their brains, trying to take the most advantageous position.

He had to stop their brains, break their thoughts, and disrupt their pace.

“Nine million dollars.”

“What?”

“Eight million.”

“Seven million.”

At that moment, Peter, who had been pacing around the conference room, hurriedly sat down.

“Okay, good. Seven million dollars. Seven million shares at $1 per share, deal?”

‘Where did he learn to bluff like that?’

Jung-hoon attacked again.

“10 cents. Apple stock is 20 cents right now.”

First, he slashed the price.

It’s the basics of a deal.

If you’re weak-hearted and call a high starting price, you’ll lose that much.

“A company recognized by Silicon Valley’s genius is worth that price. 10 cents is fitting here.”

“What? Are you looking down on us too much?”

Peter looked angry.

He stood up abruptly and paced back and forth in the conference room.

The pace faltered.

“Okay. 50 cents for non-voting stock. Then the existing shareholders will agree too.”

“No. If it’s 50 cents…”

He stopped him.

“Puhahaha.”

Jung-hoon laughed.

The two men looked at Jung-hoon with bewildered expressions.

“What? 50 cents for non-voting stock? Look here. I think you’re looking down on us too much. Do you think we came to this meeting without doing any research? Do you know what the rumors are right now?”

The two words ‘research’ and ‘rumors’ made their faces serious.

Jung-hoon pressed on.

“I heard that the bank will soon be requesting repayment of loans, and investors have started withdrawing their investments. You guys are underestimating us, but according to the information we have, you won’t last even a month.”

“How did you know that…!”

Musk’s expression twisted as he blurted out those words.

It was a fatal mistake.

He had shown his hand.

Peter Thiel sat down.

“Okay, let’s stop bluffing and get serious about negotiating.”

Negotiation? That’s what you do when you’re sitting down and don’t know each other’s hands.

Jung-hoon couldn’t back down.

He had to pick them clean to the bone.

“A month… That’s good. 4 million dollars, 10 cents per share, common stock.”

He demanded shares with voting rights.

There was no need for useless shares without voting rights.

Money is important too.

But you never know what the future holds.

Voting rights can become a great power.

You should take everything you can when you can.

A long silence flowed.

David, who was sitting next to him, stared blankly at Jung-hoon with his mouth open.

It was a negotiating skill that was hard to see in a high school student.

Meanwhile, the two men sitting in front of Jung-hoon began to whisper to each other.

Musk looked at us and opened his mouth.

“We have pride too. This is our final offer. 50 cents per share, common stock. By the way, when will the acquisition money come in?”

Jung-hoon thought about his offer.

A proposal that feels good just to imagine.

If it goes public next year, it’s $16. 30 times. And it will be acquired soon.

Hundreds of times the profit were visible.

Stop here?

Why stop?

The more greed, the better.

His last words grated on his ears.

He seized the second opportunity.

‘When are you giving the money?’

That’s what you say when you don’t have money. If you have a lot of money, there’s no need to say that.

It’s something you’d only say when the money is running out and you need to fill it.

“Pride? Save that for when you survive, normalize the company, and go public. 30 cents per share, common stock. But if we sign the contract today, the full amount will be deposited today.”

One had a dumbfounded expression, and the other had an incredulous expression.

But soon, they both covered their faces with their hands.

“Hoo.”

A long sigh escaped.

‘Was I too greedy? If it doesn’t work out, there’s nothing I can do. There are places to invest everywhere. Don’t be scared.’

Jung-hoon waited for the results with a pounding heart.

“You devilish bastard.”

“XXX, XXXXX.”

He cursed in a language I couldn’t understand.

And the word I had been waiting for finally came out of their mouths.

“Call.”

“What?”

Jung-hoon’s question.

“Ok. You win.”

A thrill ran through his body.

A huge success.

He turned his head and looked at David.

He was looking at Jung-hoon with an expression that he couldn’t believe this situation at all.

The corners of his mouth were hooked on his ears.

It was an expression that he couldn’t believe such a good offer.

Before he knew it, they handed over the prepared contract.

“Please sign.”

Jung-hoon put strength into his arm to hide his trembling hand.

He took out a Montblanc fountain pen and handed it to Jung-hoon.

Jung-hoon also took out the Montblanc fountain pen he had prepared and handed it to him.

After exchanging fountain pens, they signed the contract.

He and I each had a copy. The contract was signed and became legally effective.

It was the moment when Jung-hoon’s Legend Company became a shareholder of X.com.

And it was also the moment when the legend of Legend Company began.

“Will the money really come in today?” He asked hesitantly.

“Yes, don’t worry.”

He seemed very urgent.

***

The Christmas season ended and the atmosphere was chaotic.

The work that had to be done was over.

Christmas in America was unfamiliar, but still a pleasant day continued.

I had good stock cheaply, so I couldn’t help but be excited.

Jung-hoon and Eun-soo lazed around for the first time in a long time and spent a leisurely time in San Francisco.

In the meantime, the final exam results came out and, as expected, he was the top student in the school.

Also, Grandma, who had to buy land, was in a bad mood, Manho told me carefully.

It couldn’t be helped. I thought time would solve it.

Eun-soo went shopping, and David wandered around trying to find an office suitable for Legend Company.

Jung-hoon registered for a language school and studied English intensively.

It was because of the importance of speaking.

Because he could hear and read, his speaking skills also increased rapidly.

It was when he was absorbing the teachings of native teachers at a frightening speed and spending time, that a call came from an unfamiliar number.

It was an invitation to a party hosted by X.com.

Jung-hoon initially thought that the kids who didn’t have money were spending money on useless things.

Soon he changed his mind.

Connections are money.

The reason he was going to Seoul National University was also because of connections.

He thought he should build connections in Silicon Valley.

Jung-hoon went to the shopping mall and had a high-end suit made.

***

Employees, shareholders, and their friends attended the party.

American society is a melting pot of races.

Today’s party was also a microcosm of such America.

European, American, South American, Asian—everyone from all over the world was there.

Well, Silicon Valley attracts the smartest people in the world, so it wasn’t a strange sight.

“That day was really amazing.”

“I apologize if I was rude.”

“No, you weren’t rude. I felt like I saw a conqueror without blood or tears, a devil. Honestly, I thought you would accept the final offer.”

“…I was lucky,” Jung-hoon said, making excuses. He couldn’t bring himself to say, ‘I was determined to pick you clean to the bone.’

While Peter was talking, he introduced a company employee, seemingly because of the commonality of being the same Asian descent.

“Steve, this is Mr. Yoon, his name is Jung-hoon. He’s from Korea. An important shareholder who saved us.”

“Nice to meet you.”

“Nice to meet you. Are you Steve Chen by any chance?”

“Oh, how do you know my name?”

“I saw the name tag,” Jung-hoon said, pointing to the name tag on his chest.

‘In 10 years, no, even in 5 years, everyone will know your name.’

He had finally met him.

Fortunately, he got along well with him, who was of Asian descent.

He said to him in passing, “If you have a good business plan, please contact me. I think Steve will definitely succeed.”

“Hehe, I like it when you praise me like that. I’m thinking about something right now… I’m planning to create a company that uploads videos, so I’ll contact you when this plan is organized. Please invest at that time, Investor.”

“Of course.”

He gave him a business card with his email address and received his contact information.

Steve Chen, one of the three founders of YouTube.

Jung-hoon thought that he had to become his early investor no matter what.

It was when he was looking at Chen’s back and making up his mind that David, who had approached Jung-hoon, said, “Jung-hoon, Grandma told me to come in quickly?”

There was worry on David’s face.

***

“Grandma.”

Eun-soo hugged her grandmother.

Really, anyone who saw them would think Eun-soo was her grandson; they were so in sync.

“Yes, Eun-soo, did you have fun playing?”

“Yes. Thanks to Grandma. Here’s a gift for Grandma.”

“Eun-soo really melts women’s hearts. You’re so good at being pretty.”

“Hehe.”

“I’m back.”

“Jung-hoon.”

Grandma’s expression towards Jung-hoon was full of trust in her grandson.

“Did you have fun playing? I heard it from Cheol-soo. Where did you learn such skills? Cheol-soo was speechless.”

“I was lucky.”

Jung-hoon couldn’t say, ‘When I was collecting bonds in the past.’

“That guy, being humble and winning in negotiations, is just like his father.”

Grandma’s face was full of smiles.

“Grandma, what’s the urgent matter…”

“Take a look at this.”

Grandma showed Jung-hoon a fairly thick document.

[Jungbu City Hwanggeum-dong Jugong Apartment Complex 1, 2 Reconstruction Project]

The word reconstruction caught Jung-hoon’s eye.