The Conglomerate Family Became A Villain [EN]: Chapter 106

106. The Typhoon’s Landing (1)

Orion’s Table.

This restaurant was located east of downtown Boston, catering primarily to neatly dressed office workers rather than college students.

Hyun-woo Jeong believed the reason was the price.

“I always think this when I come here, but it’s not exactly cheap.”

Robert sighed, a brief puff of air escaping his lips at Hyun-woo’s comment.

“Charlie, isn’t it a bit rich for a $500 million asset holder to complain about a $7 menu?”

“With $7, I could buy two game cartridges.”

After the Atari shock [the video game industry crisis of 1983], the price of game cartridges had plummeted to below $3.

“Speaking of which, I’ve heard some news from the game industry.”

Like Hyun-woo Jeong, Robert was keenly interested in the game business.

“What news is that?”

“I heard that Japan’s hit product might be coming to North America next year.”

Hyun-woo’s eyes lit up for a moment.

‘Nintendo.’

He knew the history of Nintendo’s Famicom [Family Computer] series reviving the North American game market.

“Where did you hear that?”

“I heard it during negotiations with Atari.”

“It came from Atari?”

“They said it was originally discussed with them.”

Atari was reeling greatly after the Atari shock. Wall Street even predicted that Atari would soon go bankrupt.

In this situation, it was impossible for Atari to distribute Nintendo’s new products.

“It seems they’ve found another partner in Japan.”

“Rather than finding another partner, they say they’re coming directly.”

“Hmm, are you saying they’re establishing a U.S. branch and distributing directly?”

“That’s right.”

Sarah simply watched the two of them get absorbed in their game talk.

‘Both of them are so focused when they talk about games, like children.’

She didn’t enjoy computer games, so she just shrugged.

“We can’t just stand still.”

Robert asked, his eyes widening.

“Are you thinking of making our own hardware?”

He thought Hyun-woo was trying to counter the Japanese company’s arrival.

‘If it’s independent hardware design, we could consider collaborating with Commodore.’

Victoria Corporation had been collaborating with Commodore through various channels since January. So he thought collaboration with Commodore was the most realistic solution.

Hyun-woo naturally shook his head.

“No. I’m thinking of providing cartridges tailored to the Japanese company’s hardware.”

He had no intention of confronting Nintendo head-on from the start.

“Charlie, are you saying you’ll be a third party for a Japanese company?”

“Can’t I be?”

When Hyun-woo asked back, Robert sighed deeply.

“Haa… This will be a complete surrender to Japan.”

American game developers seemed to view the Japanese game company’s entry into the United States as a matter of national pride.

Hyun-woo sighed inwardly.

‘Hoo, I can’t tell Robert about Nintendo’s success; this is a difficult situation.’

Neither Atari nor Commodore could compete with Nintendo.

‘Even the same Japanese companies couldn’t compete.’

It wasn’t until Sony’s PlayStation series came out that Nintendo met a true rival.

Until then, the North American game market was Nintendo’s world.

“Robert, do you disagree with my opinion?”

Robert answered with a stiff expression.

“Charlie. We must build a united front with Commodore and Atari.”

He was suggesting forming an alliance to counter Nintendo’s arrival.

“Robert, do you think we can win if we do that?”

“Of course.”

Robert had never seen a game console made by Nintendo. However, he didn’t believe Japanese technology surpassed American technology.

‘The reason why products produced in Japan dominate the American market is because of the price advantage.’

His argument was that American products would not lose to Japan if the prices were equal.

“Robert, I have a slightly different opinion.”

Robert raised his eyebrows at Hyun-woo’s words.

“Charlie? What do you mean?”

Was it because trade disputes with Japan were intensifying?

Robert’s tone gradually rose.

Hyun-woo said, as if to appease him.

“Robert, have you ever seen the game console that the Japanese company is preparing?”

Robert answered curtly.

“No.”

“What if the performance of that game console far exceeds Atari or Commodore?”

Robert’s face immediately hardened at Hyun-woo’s question.

“Charlie, that won’t happen.”

As he said before, he believed in the superiority of American products.

“It’s going to happen this time.”

When Hyun-woo said firmly, Robert raised his voice.

“Charlie, have you ever seen a new product from a Japanese company?”

He wondered if Hyun-woo was making this argument because he had seen a new product from a Japanese company.

“I’ve heard a little bit about it.”

“A little bit?”

“Even if only half of what I heard is true, the Japanese company will take over the North American game market.”

Robert frowned deeply.

“Charlie, that’s too much of an exaggeration.”

He predicted that even if a Japanese company entered the market in a depressed situation, it would not cause a big stir.

“Wanna bet?”

The moment Robert tried to counter his question, bread and soup arrived.

Clap. Clap.

It was Sarah who clapped her hands.

“Okay, gentlemen. Let’s eat first.”

Her words cooled the overheated atmosphere.

“Hoo… Our opinions are too divided this time.”

Hyun-woo shrugged at Robert’s words.

“The product that will land from Japan will cause a big stir.”

Sarah asked Hyun-woo.

“Aren’t you being too biased towards Japanese companies?”

She was asking if he was giving extra points to Japanese companies because he was from Asia.

Hyun-woo shrugged and answered her question.

“Our country and Japan are not on good terms at all.”

“Even though you’re both Asian?”

“Would it be easier to understand if I said it’s like Ireland and England?”

Ireland had been exploited by England for hundreds of years, so their feelings were very bad.

Sarah nodded as if she understood.

“So you’re not particularly taking sides with Japanese companies.”

“That’s right. I heard from people in Japan that Japanese companies have made great products.”

Robert listened to the two of them and slowly chewed his bread.

‘The story Charlie heard must be exaggerated.’

He still thought that Atari, Commodore, and Victoria Corporation could unite to compete with Nintendo.

Sarah turned her gaze to Robert and asked.

“Robert, isn’t Atari in danger right now?”

It was a question of whether it was a dangerous company to work with on a project.

Robert cleared his throat and answered.

“It’s very difficult, but if we overcome this crisis, we can revive.”

He didn’t like Atari’s management policy or attitude, but he didn’t think Atari should collapse.

‘The moment Atari collapses, the North American game market may completely collapse.’

Sarah turned her gaze back to Hyun-woo.

“What do you think, Charlie?”

Hyun-woo tore the bread and answered her question.

“We need to prepare first.”

“Prepare for Atari to collapse?”

“No.”

“Japanese companies?”

Hyun-woo nodded slowly.

“Yes.”

Robert realized that Hyun-woo’s will was firm.

‘What made Charlie’s will so firm?’

The story of a friend or buyer who went to Japan?

If not, it could be an article written in a magazine.

“What if Robert opposes it?”

“I have to persuade him.”

Sarah realized that the two people’s arguments were running parallel.

‘It’s going to be difficult to reconcile in this place.’

She said, picking up a spoon.

“You two, listen to me for a moment.”

Hyun-woo and Robert answered at the same time.

“I’m listening.”

“I’m listening.”

Sarah said with a forced smile.

“It’s good that you’re listening. Then how about we do this?”

Hyun-woo quickly asked back.

“How?”

“Buy the game console in question from Japan and test its performance.”

It was a suggestion to actually buy and test the product instead of just talking about it.

Robert didn’t object this time either.

“That’s a good idea.”

If the test results showed that the game console made by the Japanese company was excellent, he would also raise both hands in support.

‘But it won’t be that great of a product.’

Hyun-woo nodded with confidence.

“Let’s do that.”

Sarah said in a soft voice when both of them agreed to her opinion.

“It’s always a woman’s job to reconcile men.”

Around the time the appetizers came out.

The topic of conversation changed from games to American Services [likely referring to an online service or platform].

“Speaking of American Services, the response is very good, isn’t it?”

Hyun-woo answered as if it were obvious.

“Because it can be installed on older computers.”

He attributed the success of American Services to its compatibility.

However, Sarah’s analysis was slightly different.

“According to the story from Wall Street, it seems like that’s not the only reason.”

Hyun-woo tilted his head at her words.

“Are there any other important factors besides compatibility?”

“The stock market is fluctuating wildly this year.”

In 1984, the world stock market was fluctuating greatly as the United States put economic pressure on Western developed countries, including Japan and Germany.

“The range of fluctuations in the stock market is large, so real-time stock quotes have become important.”

“Bingo!”

Sarah said, holding a knife like a pointer.

“According to Peter’s story, more and more people on Wall Street are looking favorably on JP Services and American Services.”

There were still many people on Wall Street who thought that stocks were only traded on the exchange floor.

This time, Robert put down his glass and conveyed the atmosphere of the scene.

“Thanks to the explosive response of American Services, field reporters have almost no time to rest. It’s like when we started JP Services last year.”

“We should give everyone a generous bonus.”

Hyun-woo thought, putting the salmon appetizer in his mouth.

‘Should I start the IPO [Initial Public Offering] around this time?’

An IPO was like a dream for a startup.

“Robert, Sarah.”

When Hyun-woo called the two of them, they put down their knives and forks and focused their attention.

“It seems like you have something important to say.”

“Charlie, what’s wrong?”

Hyun-woo told them what he had been thinking.

“How about we do an IPO around this time?”

“An IPO?”

“Yes.”

Robert took a deep breath at the mention of an IPO.

“Are you saying we’re listing on NASDAQ [National Association of Securities Dealers Automated Quotations]?”

“We’re an IT company, so that’s what will happen.”

Sarah said, placing both hands on the table.

“Monthly sales have exceeded $20 million, so there’s no reason not to do an IPO.”

She expressed her opinion that it was okay to do an IPO now.

“What do you think, Robert?”

Robert scratched the back of his neck with his right hand at his question.

“Well… I don’t know much about that.”

He thought it was difficult to catch the exact timing.

‘An IPO is an event that can only be done once.’

If the IPO failed, the opportunity to enter NASDAQ would disappear for the next few years.

“Sarah, should we ask Peter?”

“That’s not bad, but we have an agreement to work with JP Morgan.”

Hyun-woo had sold 10% of his stake to JP Morgan and signed a memorandum of understanding that he would work with them in the event of an IPO.

“You’re saying it’s better to talk to JP Morgan this time.”

Sarah knew why Hyun-woo’s words were hesitant.

“Charlie, you don’t like Mr. Arnault, do you?”

Hyun-woo had spoken with Henri Arnault several times before.

“He seems like a person wearing a mask.”

“Business may be better suited for such people than you think.”

“Sarah, please.”

Sarah picked up the knife again and took the lead.

“I’ll take care of the details. But you have to attend important meetings.”

“Of course.”

The discussion about the IPO ended with the arrival of the main course.

Today’s main course was tenderloin steak.

“It’s luxurious.”

Hyun-woo exclaimed, holding a knife.

“Sarah, couldn’t you eat steak whenever you wanted?”

Tenderloin steak was hardly a luxury for the Hilton family’s young lady.

“Just because I live in a mansion doesn’t mean I eat steak every day.”

Sarah’s taste was surprisingly simple; she enjoyed junk food such as hamburgers and french fries.

Robert intervened between the two.

“Charlie, how did things go when you went to Texas?”

Hyun-woo had gone to Texas with Anne to meet Michael Dell.

“We decided to acquire PC’s Limited.”

“All of it?”

“He said he would only give up 20%.”

Robert raised his knife slightly.

“That means he’s going to defend his management rights.”

“We did too.”

Hyun-woo had also sold only a portion of his stake to JP Morgan.

“What is the total sale price?”

“It was set at $13 million in market capitalization, so it will be $2.6 million.”

Hyun-woo was a billionaire with hundreds of millions of dollars in assets, and Victoria Corporation was a mid-sized company with tens of millions of dollars in monthly sales.

Was that why?

Robert didn’t feel anything special about the amount of $2.6 million.

“Is it appropriate considering the size of the company?”

Hyun-woo smiled and answered.

“It’s a lot considering the current size, and it’s a bargain if you calculate the future value.”

Robert felt a strong sense of déjà vu in his smile.

‘This is…’

It was the same smile that Atari executives had shown him during Atari’s heyday.

‘Surely Victoria Corporation won’t follow the same path as Atari?’

He saw Atari, which had been growing by hundreds of millions of dollars a year, overlapping with the current Victoria Corporation.

‘It’s just a concern.’

Robert dismissed Atari’s downfall from his mind.