The Conglomerate Family Became A Villain [EN]: Chapter 159

159. Highway (4)

Modularization of the network system.

In 1985, the public simply thought, ‘Victoria Corporation has created another new program.’

However, IT developers knew what Victoria Corporation and Jung Hyun-woo were trying to do.

“Is that even possible?”

Activision CEO Camille Henderson’s question was met with a shake of the head from MIM [Management Information Management] General Manager Dan Brown.

“Impossible.”

“Why?”

“Banking isn’t a game. The programs and network systems used are all different.”

Camille Henderson continued to press.

“What if we unified those programs into one?”

Dan Brown frowned as he replied.

“Then it would be possible. But that’s even harder than unifying the computer operating system into one.”

He thought it was an unrealistic question.

“Why are you talking about something that even people like you and I know in front of reporters?”

Dan Brown unfurled his brow and raised both hands.

“It’s a bluff.”

“A bluff?”

“You’ve done it before, haven’t you?”

“Are you talking about the IPO [Initial Public Offering]?”

Activision had successfully gone public despite the Atari shock [the video game crash of 1983].

“It means they’ll make a killing and then pull out.”

Camille Henderson sighed deeply.

“Hoo… Thinking about it now, it might have been better not to go public.”

“Didn’t you and Jerome make quite a bit of money?”

Jerome Nell was Activision’s CEO who had raised his voice against Jung Hyun-woo and resigned after the company went bankrupt.

“We put the money we earned back into the company. Activision was everything to us.”

Of course, they didn’t put *all* the money they earned from the IPO back in. But it was true that they returned a significant portion of the profits they gained from the IPO.

“According to you, Victoria is following Activision’s path?”

“That’s right.”

“Then Robert will soon be joining us in this position.”

Camille Henderson and Dan Brown were colleagues who had worked together at Activision in the past, creating and selling games with Robert.

“Robert won’t be joining us in this position. Robert hates me.”

Dan Brown said, avoiding eye contact.

“Because of the layoffs?”

“Someone had to take responsibility.”

“Did you fight a lot?”

“We didn’t fight at the time, but we fought later.”

Dan Brown was unaware of the IP [Intellectual Property] contract dispute between Camille Henderson and Robert.

“Hmm, you should have said you were sorry.”

He thought Camille Henderson was more at fault than Robert.

“Well… I wanted to, but the company wasn’t doing well, so I got angry.”

“Robert must have rubbed you the wrong way.”

Robert had effectively been fired from Activision and then joined Victoria Corporation as COO [Chief Operating Officer]. Currently, Robert is the most successful businessman from Activision.

“It wasn’t that bad. He just lowballed the IP of our content.”

“Um, not just cheap, but dirt cheap?”

“I thought so at the time… Now that I think about it, I wonder if he just wanted to buy it at the lowest price possible.”

“Anyway, you’re not on good terms now.”

Camille Henderson said, raising her glass.

“That’s right.”

Dan Brown clinked glasses with her.

“To reconciliation.”

He didn’t want Activision members to be at odds.

‘Weren’t we people who gathered with the goal of making the best games?’

If there’s strength to be used in fighting, it should be poured into games.

That’s the right way to be a developer.

Dan Brown was a pure man.

* * *

Jung Hyun-woo returned to Boston.

He had to face Sarah, who had stayed up until 2 AM waiting for him.

“Sarah? Why are you still up?”

“I saw the news.”

Jung Hyun-woo put down his bag, raising his voice at the end.

“The news?”

“The modular system you talked about in front of the reporters. Robert doesn’t know anything about it, does he?”

Jung Hyun-woo put down his bag and replied.

“I’ve been planning it for months.”

“You’ve been planning it for months and you announced it to the media without consulting us at all?”

“Well… I thought there had to be something a little shocking.”

Sarah put her hands together and asked.

“A bluff for the IPO?”

She thought that even if others did, Jung Hyun-woo shouldn’t.

‘Charlie isn’t that kind of person.’

But Jung Hyun-woo wasn’t bluffing.

“It’s not a bluff. I’m really going to make it.”

“You’re really going to make that?”

“Citibank has agreed to provide data for creating the modular system.”

Sarah raised her eyebrows and asked.

“Citibank willingly agreed to give you the data?”

“In exchange for the data, we agreed to shorten the Citibank service launch schedule.”

Sarah lowered her raised eyebrows and said.

“So you were able to announce it because you had a deal with them.”

“That’s right.”

Jung Hyun-woo opened the refrigerator as if he was thirsty and took out a bottle of water.

“Sarah, how did it go? I heard it over the phone, but I want to hear it in person.”

Sarah sighed briefly, seeing him so calm.

“Hoo… It’s like you’re always just worried about me.”

“I only worry about Sarah?”

“It’s like nothing ever happens to Charlie.”

Sarah looked at her younger brother as if he had caused a big accident, but Jung Hyun-woo was calm.

“Can you handle it?”

“I told you, I’m really going to make it.”

“Robert is full of worries.”

“I’ll talk to Robert about it tomorrow morning.”

Sarah said to him in a dry voice.

“Don’t talk about it like you did to me; you have to talk about it properly.”

Jung Hyun-woo put down the water bottle and approached her.

“I’ve never spoken casually to Sarah. It’s just that it’s too late.”

Sarah said without softening her voice.

“It doesn’t matter if the sun comes up. So tell me properly.”

Jung Hyun-woo realized that her worries were greater than he had expected.

“Okay.”

He slowly explained the new modular system he was developing.

About ten minutes passed.

Sarah interrupted him, raising her voice.

“Wait, if you control all the bank’s systems, the bank won’t stand still.”

“We’ll just provide the framework, and the bank will actually operate the system.”

“Even so, upgrades and system maintenance will all depend on us.”

Jung Hyun-woo nodded.

“That’s why this project is possible. All banks, insurance companies, and securities firms will have to do business with us for upgrades and maintenance.”

“The federal government won’t allow our monopoly.”

Jung Hyun-woo shrugged and took her words.

“We’ve never forced anyone to use our programs and systems.”

“But a high market share is likely to violate antitrust laws.”

Jung Hyun-woo had also been concerned about antitrust laws. In fact, he had conveyed that concern to Henri Arnault.

“We can’t just turn away customers who want to use our products, can we?”

“Charlie.”

“I asked Mr. Arnault.”

Sarah widened her eyes and asked.

“Mr. Arnault?”

“To block the federal government. JP Morgan is better at lobbying than we are. Of course, I’m planning to move too.”

Jung Hyun-woo had created ties with the Republican Party and the federal government in preparation for this.

‘Since I’m also doing work for the CIA, they won’t just shut their mouths.’

Sarah listened to his story and leaned back on the sofa. Then she looked at the small chandelier on the ceiling and said.

“Charlie had it all figured out.”

“I’m sorry.”

“No. I thought Charlie was just talking off the cuff.”

“If I had told you in advance, Sarah wouldn’t have worried.”

Sarah asked.

“How high do you want to go, Charlie?”

“Want to go up?”

“You’re climbing the ladder to success step by step.”

Jung Hyun-woo said in a soft voice.

“I’m not climbing the ladder for success.”

“Then?”

“I said I would give people a better future. I’m just working for that.”

Sarah narrowed her eyes slightly and asked.

“It seems like you’re accumulating too much money to say that?”

“I’m going to make a lot of money and use it wonderfully.”

“Wonderfully?”

Jung Hyun-woo stared at the ceiling, just like she had a moment ago.

“I could establish a global foundation for the poor and oppressed, or I could invest in technology for the advancement of humanity. If not, I could send people to Mars.”

Sarah turned to him and asked.

“Send people to Mars? That’s something NASA can do.”

“Thinking that only NASA can do it is a stereotype. And who knows? Maybe I can send people to Mars faster than NASA.”

Jung Hyun-woo listed the cases of Bill Gates, Jeff Bezos, and Elon Musk in turn.

‘Whichever path I follow, it will be a great path.’

He could confidently take steps toward the future because there were those who had gone before him.

* * *

The day after Jung Hyun-woo’s speech at Citibank.

The opinions of Wall Street experts were quite divided.

“It’s a bluff.”

“Well, I disagree.”

“It has to be a bluff.”

“If it’s Victoria Corporation, they can do it. Haven’t they already tied together JP Morgan, Bank of America, and Citibank?”

The positive side prioritized Victoria Corporation’s partners, while the negative side emphasized the technical aspects.

Vanguard Fund, the world’s number one fund.

John Bogle, the founder of Vanguard Fund and chairman of Vanguard Group, called his son to his office for the first time in a long time.

“Oh, Eric.”

Eric Bogle was currently the manager of the technology division at JP Morgan.

He entered the chairman’s office and asked bluntly.

“What’s going on?”

John Bogle sighed briefly at Eric Bogle’s blunt voice.

“Hoo… Does a father need a reason to see his son?”

Eric Bogle raised his right hand and replied.

“No one would say anything if it were a holiday. But today is a weekday, and it’s working hours.”

He had told his secretary that he would be away for an hour or two.

“You’re so stiff.”

“Aren’t you, Father?”

John Bogle was one of the investors who viewed the market coldly.

“I’m only cold to stocks and funds that are full of bubbles.”

He was known as the father of index funds and was an outstanding investor whom Warren Buffett respected.

“So, what’s the reason for calling me today?”

John Bogle looked regretful at his son’s cold reaction.

“What did I do wrong?”

“You just called a manager who’s in the middle of working.”

It wouldn’t have mattered if Eric Bogle was a Vanguard Group employee. But he was registered with JP Morgan.

“What do you think about moving to our company at this opportunity?”

Eric Bogle raised his eyebrows at his father’s words.

“Is that why you called me?”

John Bogle was also thinking about his son succeeding him.

“You look like you never thought about it.”

“I’m an engineer.”

“But it’s not unrelated to investment.”

If he was only interested in IT technology, he would have flown to Silicon Valley in the west, not New York.

“I still want to learn more at JP Morgan.”

“Are you saying that you learn less under your father?”

Eric Bogle shook his head and replied.

“No. If I’m at Vanguard, everyone will be watching me.”

“And no one will scold you?”

“That’s right.”

John Bogle smiled.

‘He knows what’s important.’

In a modern society where everyone is just trying to go the easy way, Eric Bogle wanted to endure difficulties.

‘It can be said to be a good attitude.’

He lowered his voice and said.

“Actually, I didn’t call you because of your position.”

Eric Bogle nodded as if he knew it.

“I knew it.”

“Are you disappointed?”

“I’m not disappointed. I just hope you finish quickly.”

John Bogle stroked his chin and said.

“Don’t talk about other people’s business too much. Our company’s business is your business too.”

No matter what anyone said, Eric Bogle would inherit his wealth.

“I left my seat during work.”

“I understand. Then I’ll get straight to the point.”

Eric Bogle put his hands together slightly.

‘It doesn’t seem like a simple matter.’

John Bogle said to him, who was nervous.

“Yesterday, Charlie Jung of Victoria Corporation made an announcement at the City Center.”

Eric Bogle was one of the people who knew Jung Hyun-woo well.

“You mean Charlie.”

“Do you know him?”

“I know him. That’s what I do.”

In fact, John Bogle knew everything and called him.

“What do you think of his announcement? Our company’s managers have different opinions.”

Eric Bogle answered his question without hesitation.

“It will be difficult within three years.”

The reason he could answer so quickly was because he had been thinking about the modular system Jung Hyun-woo had talked about all throughout his commute.

“Not entirely impossible?”

“It’s not completely impossible. But three years is too short.”

“Then how many years will it take?”

“It will take five years or more.”

Eric Bogle was an engineer who had witnessed Victoria Corporation’s achievements, so he evaluated Jung Hyun-woo’s announcement more positively than the Activision developers.

“Um, you’re saying it will be possible someday.”

This time, Eric Bogle asked his father.

“But why is that important?”

John Bogle replied.

“We’re also thinking of investing in Victoria Corporation.”

Eric Bogle slowly shook his head at his father’s words.

“Then you’re late.”

He thought they should have invested when JP Morgan invested.

“Is it too late just to participate in the IPO?”

“That’s right.”

“If you can complete the system you mentioned in five years, I don’t think $20 billion is a bad amount.”

“Really?”

John Bogle replied.

“Even if Wall Street can only have an oligopoly, not a monopoly, the market capitalization will rise to $50 billion.”

He wasn’t an investor who wanted 10x or 20x returns.

If he had wanted such huge returns in the first place, he wouldn’t have created an index fund.

John Bogle was willing to invest in Victoria Corporation even if it only made a 20 or 30% profit.

“You’re thinking of investing in Charlie’s company.”

Bogle nodded.

“I’m thinking of participating in Victoria Corporation’s IPO.”

Vanguard Fund’s participation.

This was a decision that gave great strength to Victoria Corporation and JP Morgan.