Chapter 100: The Power of Content
Chapter 100: The Power of Content
< YouTube Comments >
Life, I thought, was enjoyable.
When you had a lot of money, life was fun no matter what country you lived in.
“Eddie. Let's start the internal test.”
“Yep.”
We opened the doors to Earth Channel.
External access was blocked, leaving it accessible only through the internal networks of Earth Resource and Dream Art Rainbow.
- Vice President Jeong Beom-tae: We're uploading the videos. The in-house content will be fully uploaded by the end of today.
- Kim Shin: Okay. Keep up the good work.
The process of uploading shows and movie content to the site was underway.
Videos purchased from external production companies were also being uploaded in sequence, while we checked the user management and payment systems.
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The world was changing rapidly.
A lot was happening in just a few days, but I was focused solely on Earth Channel.
Eddie and the programmers were pulling all-nighters at the office.
“Seriously, Earth Channel has so much content that's more fun than I expected.”
“Is that so?”
“Yes. Squid Game is really fun. There's definitely going to be a season 2, right?”
It wasn't just Eddie.
The company employees said it whenever they saw me.
“Squid Game is the best. Why can't places like Netflix or Disney make content like this, even after spending so much money?”
“I never knew Korean zombie movies were so good.”
It was hard to see their comments as mere flattery.
In Silicon Valley, employees would quit if they were even slightly dissatisfied with a company and move to another with better conditions.
‘Everyone seems to be enjoying it. Does it work for American sensibilities too?’
I had found it very entertaining, but I wasn't sure how Americans would see it.
Oh Myeong-woo said while eating a Double-Double burger.
“Americans are simpler.”
“Simpler?”
“They love childish stuff. They go wild when comics are turned into movies packed with CG.”
Like the Spider-Man or Iron Man series.
Aside from being Hollywood blockbusters, the stories themselves were rather childish.
“Squid Game has a plausible story. The characters are strong, right? The atmosphere is killer, too. They'll go crazy for this kind of fresh entertainment.”
As more shows and movies were uploaded to Earth Channel, games were registered next.
Earth Resource had officially invested in over sixty-seven companies.
It was an enormous, sprawling network, but we never interfered with management, and small-scale game development studios accounted for over eighty percent of them.
Oh Myeong-woo had a conviction.
“A game's fun doesn't depend on its file size. Small-scale games can be plenty of fun, as long as the gameplay is solid. At Earth Resource, we need to preserve that gameplay foundation while investing in sound and graphics.”
Oh Myeong-woo even declared that he would create a game production support department within the company.
A team that would primarily work on improving the graphics and sound after certain games were made.
‘Will it work out?’
I didn't know much about game development, but I had learned something during my short time as CEO.
‘I shouldn't become an obstacle to this company's growth.’
When an employee was eager to try something, was there a need to distinguish between what would work and what wouldn't?
Even if it failed, you had to accept it and keep making numerous attempts.
Just as when investing in venture companies, I wanted the spirit of adventure to stay alive at Earth Resource.
“Go ahead. Do whatever you want.”
The change that occurred after the games were registered was the dark circles and hollow eyes of the programmers.
The employees were freely enjoying the shows, movies, and games.
* * *
Kim Shin's daily life, uploaded to YouTube.
The videos, which started with the story of him founding Earth Resource in San Francisco, were now drawing the intense interest of Americans.
- Are you kidding me? He built a unicorn company in less than a year?
- I've heard about Source Coin. To think it was a product of Earth Resource.
- Watch episode 3. It shows him investing $200 million and making $10.5 billion in a week.
- For real? Isn't this a scam?
- Look at the dates the videos were uploaded on YouTube. They've already been viewed over 10 million times in Korea.
- My God. He really has the Midas touch.
- And he's a major shareholder in Tesla, whose stock is skyrocketing right now.
Kim Shin had been a relatively unknown figure in the United States, but with the release of Biolife's K-Vaccine, he was now featured in the main headlines of American media.
‘Who is Kim Shin?’
Watching the YouTube videos they found, Americans were thrilled.
- I thought he was a researcher or a doctor. Turns out he's an investor.
- Look at Forbes. It's full of stories about his investments. He's a famous figure on Wall Street.
- The videos show him living an ordinary day-to-day life, yet he made tens of billions of dollars in a year.
- He's unbelievably young. Based on his looks, you could believe he's in his 20s. To become so rich at such a young age.
- I knew about Kim Shin early on. These days, Koreans on Instagram ask me, "Do you know Kim Shin?"
- It's not in the videos, but he's also a famous crypto investor. Since 2017.
Americans and Europeans watched the videos about Kim Shin's daily life.
The view count, which had been over 10 million, surpassed 50 million and then 100 million, thanks to them.
And a few days ago, new comments began to appear.
- This is Lorraine, a single mother. My child recently sent a letter to Kim Shin. And we received a reply with a wonderful gift for my child.
- Thank you so much. I was at a loss after being fired from my restaurant job. I will never forget your help for the rest of my life.
- My child is so grateful to be able to go to school. I am too. You saved my child's future.
These were comments from people who had received letters and gifts from Kim Shin.
* * *
Vice President Jeong Beom-tae woke up early in the morning.
He had to contact Kim Shin between 4 and 5 AM, as it would be midday in San Francisco.
- Kim Shin: You're working hard. Please sign contracts for Japanese and Chinese productions as well. Even if they weren't major hits, there will be people looking for them.
Kim Shin's words were to be followed without question.
He hadn't felt this way while working at In-Dream Investments, but Kim Shin was just that incredible of a person.
‘Japanese and Chinese productions!’
There was no need to second-guess Kim Shin's words.
His decisions were likely based on things Jeong Beom-tae himself hadn't seen or didn't know.
“Get in touch with the Japanese and Chinese companies. Be proactive about bringing in their content. They like the Korean Wave over there, too.”
“Yes, they do.”
“Let's be aggressive in capturing the market.”
Jeong Beom-tae was known as the godfather of the Korean content industry, which had all but collapsed in the face of the pandemic.
There was one other thing that he was paying the most attention to.
- Kim Shin: That was really fun.
When he had asked if Kim Shin had seen Squid Game, he thought it was highly likely the answer would be that he was too busy.
But he was even more surprised when Kim Shin said he had watched all the way to the final episode in a single day and was already talking about a second season.
Jeong Beom-tae had seen it before sending it over, and it was indeed a fascinating and provocative work.
“The CEO really enjoyed it.”
“Did he?”
“He wasn't just saying that. He stayed up all night and watched it to the very last episode.”
“He did?”
The director looked startled.
In Korea, Kim Shin was revered as a hero—the country's top investor and the owner of the COVID vaccine company.
“He enjoyed the drama so much that he brought up a second season. Do you have a story in mind?”
“To be honest, no. It was such a difficult project that I was thinking of taking a break for a while.”
To Jeong Beom-tae, those words were a shocking blow.
Kim Shin had told him to provide full support if there were plans for a second season.
To him, it was an absolute command.
But trying to force a contract on a sensitive person like a director who writes his own scripts would not result in a good production.
“If you want to rest, you should. But don't you think it's better to strike while the iron is hot?”
“I'm not sure.”
“Dream Art Rainbow will give you our full support. From casting actors to staff and production costs. We'll provide the best of everything.”
The director knew full well the power of Vice President Jeong Beom-tae and Dream Art Rainbow.
After Kim Shin gave the order to improve the treatment of staff, the salaries of cameramen, lighting technicians, and sound engineers had risen dramatically.
“This is wrong. This is basically telling us not to make anything!”
“Is Dream Art Rainbow trying to kill our entire industry?”
After Kim Shin left for the United States, there was considerable backlash from the film and drama industry, which cited long-standing practices.
Raising staff wages during the difficult times of a pandemic, of all things.
While the controversy was brewing in Korea, Dream Art Rainbow swept up all the talented staff and dramatically increased its film and drama production.
It was a move so swift that other production and investment companies couldn't even react.
‘Was this all Kim Shin's master plan?’
It was even difficult to sway public opinion against them.
Their justification was paying a fair price for labor.
Vice President Jeong Beom-tae did an interview with reporters and uploaded the video to YouTube to handle the situation.
“Dream Art Rainbow will not respect the practice of underpaying people who work hard. To those who insist on past practices, I want to ask: if you think it's okay to pay workers less because it's the 'industry practice,' then to turn the tables, shouldn't investors and producers also be able to earn less money?”
“Pardon?”
“You can think of it as following the logic of capitalism. It's common everywhere to attract talented employees with higher salaries than other companies. Dream Art Rainbow will provide fair compensation to its staff. In order to bring in the most skilled people.”
“But this is a measure that's hard for others in the same industry to accept.”
“Think about this from a different perspective, too. You became a reporter because it was something you really wanted to do. But the company pays you 1.2 million won a month. You barely manage to hang on. Even if you work hard, it will be tough to make a living. Wouldn't you start to feel disillusioned with your job?”
“I suppose so.”
“But then the CEO changes, and your salary is raised to 4 million won a month. Your pay has more than tripled. Would you still be thinking about the rest of the industry and all that?”
“Uh... no?”
“You would be happy to be compensated for your labor.”
With a single YouTube video, public opinion sided with Dream Art Rainbow.
Though talk later emerged that it had been Kim Shin's grand design all along, Dream Art Rainbow now dominated the film and drama industry.
The director thought for a long time before speaking.
“If you double the production budget, I'll consider it.”
Although he said double, it was an offer that left some room for negotiation.
“The budget? Will doubling it be enough? We'll give you much more.”
“Really?”
“A budget is obviously necessary to make a good drama. The CEO said that even when content on OTT platforms is successful, the creators get too small a cut. I'll also promise you a share of the revenue based on its success.”
It was an offer that was impossible to refuse.