Chapter 36
Chapter 36
Chapter 036 of the Black-Haired Investor Awakened as a Superhuman
==========
"Using your Korean name as is must have been a pretty big decision.”
“Grandfather told me never to change my name.”
“But you’re an adult now. I doubt the only reason you’re sticking with your Korean name is because of your Grandfather or parents, right?”
“I am an adult. But after being subjected to so much, I’m just doing it out of spite now.”
Claire smiled, seemingly intrigued by my words.
She looked a bit different from how she was in the office. Her expression was much more relaxed, and her eyes even held a strange sense of empathy.
She nodded slightly and quietly replied.
“Spite is the greatest weapon we have.”
Throughout our walk to the restaurant, we freely shared stories from our past.
The reason I felt like she was an old friend, even though we had just met today, was probably because we were of similar age and shared a similar past.
I was a Korean immigrant, and she was a second-generation Korean immigrant. We were both Korean.
“You have no idea how much I was teased because of my name when I was younger.”
I laughed naturally as I said this.
“Some kids couldn’t pronounce it properly and called me ‘Hieonwoo.’ Sometimes they would just shorten it to ‘H’ or ‘Hieon.’”
Actually, it wasn’t just when I was younger.
Claire chuckled softly.
“Isn’t that kind of cute? I had to deal with jokes about singing because my last name was ‘Song.’
I could laugh it off when I was a kid, but if I heard it even at this age, I wouldn’t let it slide.”
She shook her head slightly and added.
“That was the starting point of my feud with Elon, as much as it was.”
“That… Elon Musk?”
“That’s right. Funny, isn’t it?”
Claire answered calmly, adjusting her collar.
“He did that thing with my name again at a meeting a few years ago.”
She continued slowly.
“I was especially tired that day. I hadn’t slept properly because I was preparing for a project all night, and I had a conflict with another team right before the meeting. My mental state was already near its limit, but he kept doing it.”
Claire’s tone was calm, but it seemed like the emotions from that day hadn’t completely subsided.
“Then I realized. It wasn’t just a simple joke. It was a deliberate attack to shake my mental state. And the problem was that his childish act worked.”
The timeline could be narrowed down to 2017, three years ago, based on the hint that it happened a few years ago.
That was the year Elon Musk began aggressively expanding in both the electric car and space industries.
Tesla announced plans to build its first overseas Gigafactory in Shanghai, China.
SpaceX was starting the Starlink project in earnest, aiming to enter the global internet market.
That was 2017.
To carry out such ambitious plans, they would have needed a huge amount of capital and the cooperation of outside investors.
Trying to get Sequoia involved would have been a natural step.
It seemed like Claire was talking about what happened back then.
Since my personal position was all-in on Tesla, Claire’s story was very interesting to me.
* * *
She was older than me.
But age wasn’t an issue.
The atmosphere was great. Above all, she was a beautiful and mature single woman.
Everything felt natural last night.
The conversation, the smiles, and the moments that followed.
But now that I opened my eyes, the hotel room was empty.
I slowly got up and looked around the room. A neatly placed note on the table caught my eye.
Her handwriting was clean.
The sentence was short.
The intention was clear.
「 I had to leave early. See you. 」
Even though we had been speaking in Korean all night yesterday, she made a point of writing it in English.
A message clearly defining the boundaries of our relationship.
Honestly, last night was more than just a moment of impulse for me, but it seemed like it wasn’t for Claire.
She was someone who thoroughly separated business from personal feelings.
And that was probably why she was able to survive in the jungle that was Sequoia Capital and rise to the position of partner at a young age.
When this kind of thing happens between people intertwined in business, the rule is simple.
Never mix personal feelings.
Claire understood that rule perfectly. Last night was just last night.
I erased the thought of wanting to see her again personally.
After leaving the hotel, I strolled slowly through the city of Menlo Park.
Menlo Park was deserted.
The warm spring sunlight gently filtered through the trees on the street.
It was as if this street alone had been spared from the COVID-19 pandemic.
I checked the time and quickened my pace a little. Soon, the sign for my appointment came into view.
Mitsunobu, a Japanese restaurant that Steve Jobs frequented during his lifetime.
Unlike the modest sign, the interior had a neat and luxurious atmosphere.
“Do you have a reservation?”
A staff member with a calm voice greeted me.
“Yes, it’s Hyun-woo Na.”
After confirming my name, the staff member bowed politely and led me to a table inside.
Someone was already sitting at the table.
Lucas Crowe, the head of the legal team and a partner at Sequoia Capital.
The man who came to finalize this deal.
This man was also wealthier than I was, if only considering his personal assets. Just like Claire yesterday. But his first impression wasn’t very good.
First of all, he didn’t offer a handshake.
He replaced the greeting with a slight nod, his eyes directed at the documents on the table, not at me.
“I’ve been waiting.”
His first words were as dry as an interviewer’s. It was just as Claire had told me.
Within Sequoia Capital, there were quite a few partners who were unhappy with the fact that they, a venture capital firm, were investing in a Wall Street hedge fund, not a new venture.
This man, Lucas Crowe, was one of them.
His attitude seemed to barely manage even the most perfunctory greetings.
Of course, I couldn’t say I didn’t understand his position.
The traditional role of a venture capital firm is to provide a foundation for new companies.
Rather than managing capital like a Wall Street hedge fund, the focus is on believing in the founder’s vision and promoting long-term growth.
However, as the boundaries of the financial industry blur, venture capital firms are now moving into an era where they can no longer be bound by traditional methods.
Technology and markets are rapidly changing.
In a situation where they continue to need funds even after an IPO, venture capital firms have no choice but to embrace change.
However, these changes would feel like a threat to conservative partners.
Especially to people like Lucas.
“Claire seems quite enthusiastic about this deal.”
He opened his mouth as he turned a page of the document. His tone was calm.
But the discomfort within it became clearer. The fact that it was already a decided matter seemed to irritate him even more.
There was no possibility that he could overturn the decision.
‘How did Claire win against these white men?’
Faced with the stubborn man’s attitude, that question suddenly arose.
“Please review and sign.”
He pushed the documents towards me.
「 Investment and Equity Transfer Agreement
This agreement is made between Sequoia Capital (hereinafter referred to as “Seller”) and Hyun-woo Na and AlphaVentures (hereinafter referred to as “Buyer”).
1. Contracting Parties
Seller: Sequoia Capital
Buyer: AlphaVentures (Representative: Hyun-woo Na) 」
“As requested, the buyer has been designated as AlphaVentures.”
I continued reading.
「 2. Purpose
The purpose of this agreement is for the Seller to transfer its shares in Reddit Inc. to the Buyer, to establish the Seller’s right to invest funds in future funds established by AlphaMind, and to pursue mutual benefits through sustainable financial cooperation between the parties.
3. Transaction Terms
3.1 Share Transfer
• The Seller transfers to the Buyer [1%] of the common stock of Reddit, which was purchased for $30,000,000 in the 2019 Series D round.
• The Buyer acquires the shares for [$3,000,000]. 」
The following was the matter Claire had requested.
Sequoia wanted to join the AlphaMind Fund directly, but there were no spots available. So, as an alternative, we had agreed on investment priority.
「 3.2 Investment Priority
• The Seller has the right to invest $100 million for investment purposes in new funds to be established in the future by AlphaMind Partners, which is managed by the Buyer.
• The Buyer shall provide the Seller with a priority investment opportunity when a new fund is established, and the investment terms shall be determined in accordance with the fund’s regulations.
• If the Seller wishes to make additional investments exceeding the minimum investment amount (USD 100,000,000), the additional investment amount shall be determined by mutual agreement between the Buyer and the Seller.
• The Seller’s investment rights may be exercised within 30 days after the Buyer provides written notice of the establishment of a new fund.
• Even if the Seller does not exercise its investment rights, this shall not be deemed a breach of contract, and the Seller shall not be liable for damages. 」
“There shouldn’t be any problematic parts.”
I ignored the words and flipped through the contract.
All the clauses were written smoothly. It seemed legally flawless.
But then, a specific clause caught my eye in large print.
「 9. Compliance Clause and Indemnification
Each clause of this agreement shall be interpreted independently of each other, and if a specific clause is invalidated due to a legal dispute, all other clauses shall remain in effect. 」
It didn’t seem strange when I first read it. It seemed like a standard severability clause.
It was a phrase commonly seen in most contracts.
But soon, I realized that a subtle design was hidden within this phrase.
I stared at the document for a long time before looking up at Lucas.
He was still observing me with a blank face.
“Mr. Lucas.”
I called him.
“Is there a problem?”
“Rather than a problem… it’s an interesting structure.”
When I pointed out the problematic part, he replied nonchalantly.
“It’s just a standard phrase included for legal stability.”
“Then let me ask. Why didn’t you add specific conditions to the severability clause?
Here, the phrase ‘if invalidated due to a legal dispute’ is generally written as ‘if invalidated by a court ruling’ in standard clauses.
But you used the more comprehensive expression ‘legal dispute.’”
“Why is that a problem?”
“It’s simple. The expression ‘legal dispute’ opens up the possibility of suspending a specific clause just by filing a lawsuit.”
I looked straight into his blue eyes and added.
“It gives the Seller, Sequoia Capital, room to deliberately file a frivolous lawsuit to invalidate a key clause of the contract, such as the transfer of Reddit shares.”
This would be the scenario that the opposing partners of Claire would want.
It could be Lucas himself, or another partner behind him.
After a brief silence, he made a pretense of smiling. A false smile that wasn’t even visible at first.
“That’s an excessive interpretation. All clauses are designed to remain in effect independently.”
I shook my head and said firmly.
“Then why did you use the phrase ‘legal dispute’ instead of ‘court ruling’? Of course, it could be a mistake by the person in charge, but there’s no need to leave behind a cause for trouble.”
I pushed the documents away and finished speaking.
“Will you correct it? Or should I request a review directly from Claire?”
The relaxed expression completely disappeared from his face.
The sound of his fingertips tapping the table gradually grew louder. He finally took back the contract.
“Alright. I’ll correct it.”
He answered briefly, his expression darkened, and flipped through the documents again. Then, as if he had gone crazy with some thought, he suddenly raised his head.
He began to stare intently at me.
“Representative.”
The voice in which he called my name was distinctly different from before.
A tone that had changed to a low and slow pace. Within it was a surprise that was difficult to suppress.
“Do you perhaps have a background working as a lawyer?”
Hell no.
I have 45 law books in my head, totaling 20,000 pages, and if you add essential and practical books, it’s 80 books, 32,000 pages.
If you calculate the precedents that have been dealt with as important issues, I am now nothing more than a walking legal database.
‘So you see, you have to deceive someone who can be deceived.’