Chapter 7
Chapter 7
Chapter 7
translator PennyWorthBlack
-Haired Investor Awakened as a Superman - Episode 007
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<This is Anthony Noto from Sofaie. I would like to speak with you.>
Anthony Noto!
On January 23, 2018, I was shadowing at the global macro trading desk as an intern at Goldman Sachs.
It was a day when I was literally a shadow, trailing behind my seniors, indirectly experiencing the work, and enjoying the privilege of asking questions freely.
I regarded James Lee, who was already a senior trader on the global macro trading desk, as my mentor.
That day, January 23, 2018, was the day I learned who his role model was.
He had the Twitter chart up, which had already plummeted 3.5% before the market even opened, and he said,
"It dropped this much just from the announcement that the CFO is leaving for another company."
The CFO of Twitter he was talking about was none other than Anthony Noto.
The look in his eyes at that moment was pure admiration.
Anthony Noto was called a big shot not because of his wealth, but because of his outstanding career and achievements.
Before serving as an executive at Twitter, he was already the CFO of the NFL and had also worked as the COO of Goldman Sachs, a company he both loved and hated.
Currently, he is the CEO of Sofaie.
And now, he is smiling in front of me.
"Was your trip here comfortable?"
I left around 3 PM as soon as we made the appointment, and now it's 8 PM.
There's a three-hour time difference between the East and West Coasts.
"Yes, thank you. I had a comfortable trip thanks to you."
Flights and transportation were all prepared for me.
Such meticulous attention.
This isn't just how you treat a junior in the industry.
The fact that we're having our first meeting in a business room at a high-end restaurant, not at Sofaie headquarters, shows that he really wants to recruit me.
"I like the food here."
Anthony said, handing me the menu.
We started with Arancini and Pappardelle, and we naturally eased the atmosphere by talking about Goldman Sachs.
"So, I had no choice. My team leader wasn't wrong, but I wasn't wrong either."
"The Wuhan Pneumonia shock... there's a possibility."
Anthony agreed, but I couldn't sense conviction in his voice.
He lifted his glass and quietly brought it to his lips.
In that brief moment, I didn't miss the slight flicker in his eyes.
As expected, everyone is reacting like this.
No one is paying attention to Wuhan Pneumonia.
'Even someone who's a big shot in the industry.'
So, how big will the shock be to the market when Wuhan Pneumonia becomes visible?
Anthony put down his glass, seemingly lost in thought for a moment, then composed himself and said,
"But, Hyunwoo, while dealing with the Wuhan Pneumonia shock is important, I want to see the bigger picture.
The global strategy presented in your proposal is why I was so interested in you."
The reason he went to such lengths to arrange this meeting was because of the consulting skills I showed in my proposal.
Strategic insight to lead Sofaie into the traditional financial world—
He pulled his chair forward slightly and looked at me.
"Short-term risks like Wuhan Pneumonia will eventually pass, but the more important question is how Sofaie can maintain its competitiveness and grow in the market even after that.
The strategies in your proposal... especially the part about global innovation to replace traditional banks, were very interesting.
Can we talk more about this?"
* * *
'Ah! Have I been talking too much?'
The thought suddenly struck me, and I stopped talking.
Because ideas to supplement the proposal kept popping up.
I think I got carried away.
At that moment, Anthony was staring blankly at me with his mouth half-open and his eyes wide. His face looked like someone who had witnessed something unbelievable.
He seemed to come to his senses, blinked quickly, closed his mouth, and took a deep breath.
After staring at me silently for a while, he finally spoke.
"Hyunwoo... you're really amazing!"
His voice was full of admiration and surprise.
"I can't believe you came up with all these ideas in just a few days. I originally just wanted to have a light drink and say hello today... but we need to start right away."
Anthony's words were sincere.
He suddenly started rushing around.
He pulled out a napkin and spread it out, then quickly picked up a pen and started scribbling letters and numbers.
His hand moved quickly across the napkin, and he was quite serious.
The first thing he wrote was the title.
Head Director of Strategic Growth Initiatives.
Next, the salary.
$450,000
Then the bonus.
$300,000 (Performance-Based Bonus)
Stock options.
0.5%
Other benefits.
Sign-On Bonus $200,000.
Anthony finally left his signature and handed me the napkin, or rather, the contract.
"Will you help us?"
My heart beat faster for a moment.
But then one thing caught my eye.
"Mr. Noto, is 0.5% stock options even possible?"
Of course, these weren't the kind of conditions that would normally be offered to someone with three years of experience in the industry.
But considering the unusual circumstances, I could understand it to some extent.
But 0.5% stock options in a company that's already valued at over a billion dollars?
That's unheard of.
No founders or shareholders would allow it.
Anthony smiled faintly instead of answering.
I already got my answer from his expression.
This is a man who has a significant presence in the industry, to the point where his announcement of leaving Twitter caused the stock price to plummet.
When such a person accepts a management position at a startup, there must be corresponding conditions.
No doubt.
He's taking a portion of his own share and giving it to me.
"I'll take care of making it possible."
Anthony urged me to sign with his eyes.
"Do you know that these stock options are worth a whopping $57.5 million, Mr. Noto?"
I confirmed again.
"Hyunwoo, this is why I want to bring you to Sofaie. You're more confident in our Sofaie's vision than I am, the CEO."
That's true.
If Sofaie faithfully implements my proposal.
We can grow the company's value tenfold from its current value, with the goal of listing in the first half of 2021.
Considering that possibility.
The potential value of 0.5% stock options was $57.5 million.
Anthony looked at me questioningly, wondering why I hadn't signed yet, and asked,
"Did I give you room to hesitate?"
He continued.
"Hyunwoo's proposal is already a work of art. There's nothing to touch. That's why I want to see more. I'm curious to see how Hyunwoo is drawing Sofaie after the listing."
"……."
"That option value, Hyunwoo, you could make it worth $575 million."
Including your option value?
Of course, I can't twist the goodwill of the other person who acknowledges me like that.
Industry giant Anthony Noto is betting on me using his future assets.
The minimum value he has assigned to me is fifty million dollars.
At this point, we had no doubt that Sofaie would achieve tenfold growth within the next year.
"Okay, Mr. Noto. If you increase the sign-on bonus to one million dollars and allow me to have a side job, I won't hesitate any longer."
A sign-on bonus refers to the cash you receive immediately upon signing the contract.
But the expected answer came back.
He can promise potential stock options worth over fifty million dollars, but he can't give a relatively small one million dollars.
I understand.
Balancing the balance between real value and future value is always a complex issue.
One million dollars is cash that goes out of the company's assets right now, while stock options are conditional assets that depend on future performance.
No matter how confident we are in Sofaie's growth, if this contract is made, the founders and shareholders will treat us like criminals.
We could actually be investigated.
A huge contract offered to someone with three years of experience in the industry, plus a sign-on bonus of one million dollars.
Even considering the special abilities I've shown, the maximum amount I can realistically expect is up to two hundred and fifty thousand dollars.
Sure enough.
Anthony said exactly that.
"How about we agree on two hundred and fifty thousand dollars and increase the stock options?"
This guy, he seemed desperate to bring me in.
The confidence on his face was slowly being replaced by anxiety.
If I looked like a goose that lays golden eggs, he saw it correctly.
But the dilemma between current value and future value also applies to me.
For me, one million dollars now is ten billion dollars in the future, and two hundred and fifty thousand dollars is two and a half billion dollars in the future.
The gap between the two options is too big.
I indicated my refusal by returning the pen.
"Thank you for the offer, but."
Anthony interrupted anxiously.
"I'll bring you in as my successor, so let's go together, Hyunwoo!"
"I think it would be better to discuss it again next time, Mr. Noto."
I finalized it in a soft tone without ruining the atmosphere.
Anthony said in a voice full of regret.
"Let's talk again soon. If you fail to buy at the bottom, you have to pay the original price."