Chapter 44: The Easy Life of a Startup CEO
Chapter 44: The Easy Life of a Startup CEO
A startup in Silicon Valley.
I had invested in several companies, but I never imagined I'd be running a business here myself.
Every day brought a new experience.
- Chris: Congratulations on launching the company!
- Lennon: Welcome to the team, our dear investor.
- Veronica: Now you see how hard it is, don't you?
Founders, I realized, had to bear all sorts of stress on their own: worries about the business model, employee complaints, concerns about growth, the instability of management rights, and pressure from investors.
‘Not me, though.’
Since I was using my own capital, I didn't have to worry about my management rights being shaken or dealing with investors.
Oh Myeong-woo had taken a leave of absence from Google and was handling all the work.
"It'll take about ten days until Source Coin is ready to launch."
"That fast?"
"Making the coin itself was quick. It's the management program that's taking time. The one for the company needs a lot of security considerations."
"I can wait that long."
Even if it took a month, it would still be incredibly fast.
I had thought it might even fail.
"Eddie is a real genius."
Oh Myeong-woo praised him excitedly.
He said that because Eddie had built the core framework, their progress was swift.
I looked at Oh Myeong-woo.
‘Isn't this guy the real genius?’
Back when we lived in a semi-basement, we were the kind of friends who worried about how the other would make ends meet.
We even made a pact, something like an alliance.
We promised that if either of us was struggling so much they might starve, the other would send money for food.
It was a childish notion, but he was a friend with whom I had weathered difficult times.
I was secretly surprised when he got a job in the U.S., and I had a certain respect for how well he had adapted and persevered.
I knew that the smooth development of Source Coin was largely due to Oh Myeong-woo's contribution in leading the employees.
The fact that I had little to do as the CEO meant that the people around me were that competent.
"Myeong-woo."
"Yeah?"
"Have you ever thought about becoming the Vice President?"
"Vice President?"
"Yeah. I know it would be a waste to just quit Google, but..."
"I'll be the Vice President."
"Really?"
He could quit a world-renowned company that easily?
Arcor was also a respected multinational in the optics field, but I had agonized a lot before quitting my sales job there.
"This is more fun. And becoming Vice President is like a promotion, right?"
Oh Myeong-woo had very little desire for money.
He said he had already earned enough to live on for the rest of his life from his Google salary and various side jobs.
Of course, that wasn't enough to live a life of luxury.
‘Live on for the rest of his life? His expenses will triple or quadruple once he gets married.’
And so, I appointed Oh Myeong-woo as the Vice President.
Once the business started showing some results, venture capital firms began contacting us first.
- This is Cereal Capital. We have invested in many companies in Silicon Valley, some of which have successfully gone public on the NASDAQ. Although you are only in the initial stages, we highly value your company's future potential and...
Series A.
Three venture capital firms that handled seed money under a million dollars and early-stage investments contacted us.
Naturally, I politely declined their offers.
‘There's no reason to give away equity for no reason.’
When I was an investor, I wanted to get even a little more equity, but now that I was a founder, even 1% felt precious.
Moreover, I believed it was only a matter of time before the company's scale grew by hundreds of times if this business model succeeded.
‘Now, time to get back to work.’
With the Source Coin project progressing smoothly, I contacted the private equity fund managers in the U.S.
"I'd like to sell my Nikola shares."
Nikola stock, a hot topic thanks to their hydrogen trucks.
Since it was an unlisted company, I entered negotiations with several private equity funds for the sale.
Two days later, I received a call from Nikola's CEO, Trevor Milton.
"Kim Shin. What's going on?"
It seemed the news that I was selling my shares had reached him.
I didn't want to fight with him, claiming I didn't believe in Nikola's growth potential or that their technology was a sham.
I could be wrong, after all, and there was no need to crush the motivation of someone working hard.
"I own a pharmaceutical company in Korea. I need funds for COVID-19 research and development, and I'm also starting a new business, so I'm selling my Nikola shares."
"COVID-19? I heard something about that in Asia. Still, you must have made a huge profit from Nikola. I'm disappointed to see you sell your stake like this."
"I understand. If I can't find a suitable buyer, I may hold on to some of the shares. And I hope you understand that if I ever exercise my rights as a shareholder, I will always be on your side, Chairman Milton."
"Hmm. So you're still on my side."
I managed to navigate what could have been a tricky phone call.
Living as a salesman, handling complaint calls was practically a daily routine.
* * *
Biolife.
Dr. Lee Ho-yeon and his researchers had been surviving on catnaps ever since the COVID-19 outbreak in Korea.
They were in the middle of a grueling marathon of research, barely having time to wash or rest.
"So this is the worksite."
Jang Se-hyung, the site manager from Mirae Construction.
His schedule for the year was completely booked, but a request from a key member of the conglomerate's inner circle meant that manpower was mobilized immediately.
"The site is quite large."
He surveyed the area around Biolife and, with his workers, began transporting and setting up containers.
These were the temporary, mobile containers essential for large-scale construction projects.
Divided into sleeping quarters, restrooms, and shower rooms, they were sufficient for the researchers to stay in for the time being.
"Did we get the construction permit?"
"Yes. We have approval to build a dormitory building."
"Then let's get started."
As Mirae Construction's heavy machinery arrived, construction began near Biolife.
* * *
Dream Art Rainbow.
In the group chat with the company's employees, 50 people were constantly talking.
It was fun to read through the chat when I was bored.
- Jung Woo-young: The COVID situation is getting really serious. I heard several travel-related variety shows have been canceled. ㅠㅠ
- Lee Dal-lae: They said filming for this season of *New Journey to the West* is on hold too.
- Park Na-jung: Apparently, it's going to be difficult to do anything besides studio shoots until COVID dies down.
The COVID situation in Korea was so severe that broadcasting stations were even cutting back on popular outdoor variety shows.
- Jeong Beom-tae: CEO. I think it would be best not to invest in film production for the time being. The multiplexes are practically empty... and many films are being canceled or halting production.
The film industry was similarly experiencing a severe downturn.
The fact that the coin project was going well was a small comfort.
Moreover, it was almost a relief to experience this during the preparation stage.
If the business had collapsed after it had already started, the losses would have been much greater.
- Kim Shin: I see. However, I plan to continue keeping an eye on the film production sector and investing in it.
- Kim Shin: Just because production is delayed doesn't mean a good movie will disappear. Please look carefully into investing in films that have been canceled or halted mid-production.
- Kim Shin: If it's a good movie, we can seize the opportunity while others are standing still.
Dream Art Rainbow was in charge of investment and production.
If a good opportunity arose, I could provide sufficient funding.
- Kim Shin: Don't worry about the company. Just prepare to produce the programs you want to make, regardless of COVID.
- Kim Shin: So that you can start production anytime once the situation calms down. We can release them on OTT platforms besides broadcast networks, so don't worry about scheduling and just do what you want to do.
- Yoo Seon-ah: CEO! It's so boring without you here. When are you coming back?
Yoo Seon-ah was the employee I had hired as my secretary; she provided me with necessary information, including proposals for various variety and broadcast programs.
- Kim Shin: It seems my stay in the U.S. will be a bit longer. Please take good care of things at the company.
- Yoo Seon-ah: Yes, CEO!
An era where management happens even while talking with employees.
After texting with my staff, I hung out with Oh Myeong-woo at the company's PC bang.
"I made it to Gold tier this time."
"Really?"
"Yeah. I shall now show you my Teemo. Mwahahaha."
South Korea was gripped by an epidemic crisis, and the company I'd just founded was guaranteed to be in the red for a while, but you still had to have fun when you could.
If everyone only worked, the tourism and culture industries would collapse.
Besides, having bet two hundred million dollars on the New York Stock Exchange crashing, I needed to wait for the results calmly.
"Myeong-woo."
"Yeah."
"I like how laid-back you are."
"Of course. Even if the sky falls tomorrow, you still have to play your ranked games, right?"
Fifteen minutes after the game started, I could see Oh Myeong-woo hurling all sorts of insults about the other players' parents in the chat.
* * *
At Dream Art Rainbow, the producers and writers held a planning meeting.
Various ideas they had saved up since their days at the broadcasting stations were being prepared for production.
"These are really difficult times. Whether it's a set or outdoors, it's hard to try out the content we've been thinking about because of COVID."
"It has to be buzzworthy."
"And it would be nice if it had a healing aspect to it."
Even if they wracked their brains in meetings, it wasn't a guarantee that a project that captured both public interest and entertainment would be born.
It was also a difficult situation to cast famous MCs or celebrities.
Just then, a writer who had just joined after graduating from college offered an idea.
"What about filming our CEO in the U.S.?"
"The CEO?"
"Think about it. It was buried by the COVID news, but there was a huge buzz about him being a new-money billionaire. He's handsome, so he's popular too."
Whether at universities or in workplaces.
The story of a man becoming incredibly wealthy at the age of 32 had captured the great interest of the Korean public.
The only reason the media's race for coverage didn't continue, despite the public's curiosity, was the spread of COVID-19.
"There are probably a lot of things the viewers don't know. We could film our CEO's daily life and broadcast it."
"You mean make it like a documentary about a celebrity?"
"Netflix has a lot of those. Why not? It doesn't seem like it would cost much to produce, and the CEO is very supportive of the company's work."
It was an era where a show about cooking a meal on a mountain or by the sea could get high ratings.
If they followed a super-rich person all the way to the U.S. and broadcast his daily life, there would surely be people who wanted to watch.
Even if it was impossible for a major network, they could release it on an OTT platform, or even on YouTube.
"We'd need the CEO's permission to film, and we don't know what kind of scenes we'd get in the U.S. And there's the public's resentment towards the super-rich."
"We don't have to make it look luxurious. We can go with a small crew. A producer, a cameraman, and me. The three of us can go, and if the footage isn't suitable for broadcast, we'll just scrap it. We can edit out any scenes that might make the CEO look bad."
"The idea seems good. How about we talk to the CEO first?"
"So who's going to bell the cat?"
"You should talk to him, Producer."
"What if the CEO doesn't react well?"
"He wouldn't tell you to resign, would he?"
Producer Seong Ho-jin hesitated for a moment before typing in the group chat.
- Producer Seong Ho-jin: CEO. After a brainstorming session, we came up with the idea of filming a program about your daily life in the U.S.
- Producer Seong Ho-jin: We would need your permission, of course, and the footage would have to turn out well... but if you're okay with it, would it be possible for us to come and film?
- Producer Seong Ho-jin: Even just two or three days would be great. We will edit out any content that makes you uncomfortable.
Since it was directed at the company's CEO, it was more of a plea than a request.
Silence fell over the once-bustling group chat.
To ask the CEO directly if they could film him.
About 30 minutes later, a message from Kim Shin appeared.
- Kim Shin: Film me?
Seong Ho-jin and the writers were still watching the group chat.