CH107 | Heir

As 1998 drew to a close,

I boarded a flight to the U.S., leaving all other matters behind.

The hyenas of Wall Street had been hounding me relentlessly—I couldn’t delay any longer.

“Team Leader Han, how bad is it over there?”

“We’re getting calls from at least ten firms a day. If it weren’t for Quantum Fund backing us, they’d probably be storming our office by now.”

“Well, of course, they’ve lost their minds. We’re sitting on a mountain of IT stocks.”

IT stocks were going absolutely crazy.

Amazon had surged more than ninefold in just a few months, and every IT stock we held had at least quintupled in value.

The problem? We were holding too much.

I had been buying IT stocks when they were at rock bottom, and now our holdings had ballooned to over $40 billion.

Of course, I hadn’t started with that amount—

I had originally invested $10 billion, and thanks to the skyrocketing market, it had quadrupled.

And it wasn’t just any stocks. We held shares in only the most valuable tech companies, so it was no wonder the Wall Street hyenas were drooling over our portfolio.

“They’re in a frenzy, demanding we share our IT stocks.”

“It is a bit too much for one person to hold alone. Get too greedy, and you’ll end up with indigestion.”

“So you really believe the IT bubble is coming?”

“Before the bubble bursts, shouldn’t we pass the ticking time bomb to Wall Street? It’s not like we’re forcing it on them—they’re begging for it. We’ll sell it off at a premium.”

Who would believe that IT was in a bubble right now?

Just holding onto these stocks was doubling our money every month.

Of course, in the long run, IT wasn’t a bubble at all.

Give it ten years, and companies like Google, Amazon, and Netflix would dominate the Nasdaq.

But that was a concern for the future.

For now, I knew what was coming—by next year, IT stocks would plummet.

“I guess I should meet the hyenas before they sink their teeth in.”

“Word of your arrival spread fast. Wall Street firms unilaterally scheduled a meeting for tonight.”

“Well then, I’ll just sit back and wait.”

“Why don’t you rest in the lounge instead? We’ve got top-of-the-line beds.”

A luxury bed in the office lounge?

At first glance, it sounded like amazing company perks—

But in reality? It was just a clever way to ensure employees never left work.

Not that I minded. As long as I had a comfortable place to rest, it was fine by me.

“Sir, it’s time for the meeting.”

It felt like I had barely closed my eyes, but three hours had flown by.

The hyenas of Wall Street were already gathering, one by one.

“By the way, does the office have a shower?”

“The shower room is right next to the lounge. I’ll also call in a stylist for you once you're done.”

Where did he even learn to be this meticulous?

Team Leader Han had made sure the company could handle everything in-house, from work to personal care.

Thanks to that, I was able to freshen up and get fully styled before heading to the meeting room.

***

“Hey, Kim! It’s been way too long. You should visit the U.S. more often. What’s even worth eating in Korea that keeps you there?”

“Isn’t this the age of the internet? I can do business with the entire world right from Korea.”

“Then why not manage Korea’s affairs from the U.S. instead?”

George was the first to arrive.

We exchanged a few lighthearted jokes before the other attendees started pouring in.

Soon, the conference room was packed with some of Wall Street’s biggest names.

“You all seem quite upset. I know exactly why you’re here.”

“This is ridiculous! How are we supposed to operate when SAVE Investment has hoarded all the IT stocks?”

“Do you take me for a greedy man? We could’ve kept all the profits from Japanese derivatives to ourselves, but I shared them with you. It’s the same with IT stocks. I was always open to selling shares to you all.”

“Hmm… Well, you should’ve said that earlier. We thought you were deliberately ignoring us.”

The tension in the room melted away instantly.

The hyenas wagged their tails the moment they heard I was willing to share the feast.

“I’m willing to exchange my IT stocks for other shares or sell them at their current market price—except for Apple. Let’s start with CUC International. Given their struggles, I assume you won’t mind if they get first dibs?”

“Hmm… They’re already drowning in lawsuits. They’ll need to negotiate first.”

CUC International was embroiled in accounting fraud scandals.

They’d be forced to sell the company before the year ended, and they were desperate for one last score.

“We appreciate you giving us first negotiation rights. Which stocks are you interested in? Of course, IT-related shares are off the table.”

“Does gaming count as IT? I want to trade IT stocks for a stake in Blizzard.”

“Blizzard? That’s doable. I’ve heard it’s gaining popularity in Korea.”

Blizzard was a major gaming company.

It was behind Stark, a game that would soon take Korea by storm.

In fact, Stark would become so deeply embedded in Korean culture that people would jokingly call it a "national folk game."

But at this point, Stark was still on the rise, and Blizzard had a history of constantly changing ownership.

Currently, CUC International held it, but soon enough, CUC would collapse, and the ownership would shift to Europe.

“I want to acquire 100% of Blizzard’s shares. Based on the current stock price, that would be about $1 billion.”

“Hmm, $1 billion sounds fair. So I can pick $1 billion worth of IT stocks, excluding Apple?”

“Correct.”

Right now, Blizzard’s stock was dirt cheap—just $1 per share.

But in just ten years, it would be worth ten times that.

And in twenty years? It would skyrocket to 80 times its current value.

Microsoft would eventually try to acquire it for a staggering $69 billion.

And I was snatching it up for just $1 billion.

It was an insane deal.

I continued swapping shares with various companies.

When I couldn’t find suitable stock trades, I simply took cash payments instead.

After ten grueling hours, I had successfully offloaded half of my holdings—$20 billion worth of IT stocks—into the hands of Wall Street firms.

“That was quite the marathon. But honestly, I don’t get it.”

“What don’t you get?”

“You traded top-tier IT stocks for gaming and movie distribution companies. Are you seeing something we’re not?”

“Japan's derivatives market was also shared with Wall Street in the past. This time is no different.”

George from Quantum Fund looked puzzled.

From his perspective, it was a deal where I was the only one at a disadvantage.

However, since there was a precedent with Japanese derivatives, he didn’t dwell too deeply on his doubts.

“Still, the deal with Vanguard is a bit disappointing. Why did you accept shares from a DVD rental company? Well, some people do consider it part of the IT industry since it rents DVDs online, and the stock price has been rising…”

“I've recently developed a strong interest in movies. Plus, I’m thinking of working on a business with Taewoo Group.”

The online DVD rental company was Netflix.

Vanguard owned 85% of its shares, and the company had yet to go public.

“Well, I suppose it wasn't exactly a negotiation of your choice. The Wall Street guys practically snatched it from you—who am I to say anything? I’m in the same boat.”

“I don’t want to make enemies. Please let the others know how I feel about this.”

“Don’t worry about that. I’ll make sure to take all the credit on your behalf.”

I couldn’t afford to take credit for this.

I had just unloaded stocks that would crash within a year—claiming credit for it would be far from polite.

***

The next day.

Without a moment’s rest, I headed straight to Apple’s headquarters in California.

At the time, their new campus hadn’t been built yet, so I entered an unremarkable building where I saw many familiar faces.

Most of the people involved in developing the MP3 player were from Korea.

Even the team working on the InnoPhone had once been part of Taewoo Electronics, so I recognized them.

“You seem happy to see so many familiar faces.”

“Still, meeting Steve is the best part. You look exhausted. Are you getting any sleep?”

“Who has time to sleep? I’m creating the greatest masterpiece of my life. These days, sleep feels like such a waste—I’d buy a pill to eliminate the need for it if one existed.”

I was worried about Steve’s health.

But since he looked more excited than ever, I decided not to bring it up any further.

“How’s the new product coming along? I told Taewoo Electronics to provide as much support as possible, but I’m not sure if it’s been helpful.”

“Thanks to Taewoo Electronics, we’ve saved a lot of time. Enough talking—let’s go see the prototype.”

Steve led me deep into the building.

We passed through three layers of security before finally reaching our destination. There, Steve showed me the prototype of a mobile phone.

It was the iPhone.

Even though it was something I was deeply familiar with, I couldn’t help but be amazed.

“You’ve already come this far? I thought it would take several more years at the current level of technology.”

“It’s not finished yet. There’s still a long way to go. This is just a rough prototype with poor marketability.”

I instinctively started testing the iPhone.

And within minutes, I understood why Steve had said it wasn’t complete.

“The touch responsiveness is lacking. And the reaction speed—it feels like it lags.”

“Unless semiconductor technology advances further, this is the limit for now. We’re making up for it with software, but it’s still far from perfect.”

From both Steve’s and my perspective, the iPhone still had many shortcomings.

Yet, compared to the current mobile phones on the market, its level of completion was on an entirely different level.

The most crucial feature was its Wi-Fi capability.

“It really feels like we’re just a few steps away from completion. Honestly, even if you released it now, I’m confident it would be considered a groundbreaking product.”

“There’s no way I’d release it like this. I would never allow a product this unfinished to bear the Apple logo.”

Steve was obsessed with perfection.

He was a perfectionist who paid attention even to the smallest, invisible details.

“Will the InnoPhone 2 hold out until then?”

“The InnoPhone bought us some time. Now, we need to buy the rest of it through the Mac. I can’t rely on your help forever.”

Steve’s voice was full of confidence.

Since his return, most of Apple’s product sales had surged, with Mac sales seeing a particularly sharp rise.

Mac had become the computer of choice for professionals.

This was all thanks to Steve’s perfectionist nature.

“I’ve brought some technologies that might help with the iPhone’s development. One of them specifically addresses the touch sensitivity issue.”

“I assume all the patents belong to Taewoo Electronics? How much are you planning to squeeze out of us in royalties?”

I was momentarily speechless.

The number of Taewoo Electronics patents embedded in the iPhone easily exceeded a hundred.

Some of them were core patents, meaning that once the iPhone launched, the patent royalties flowing into Taewoo Electronics would be astronomical.

“Let’s just say Taewoo Electronics is doing its part to speed up the iPhone’s development.”

“I was just joking. If it weren’t for you and Taewoo Electronics, it would’ve taken us years just to get to the prototype stage.”

Steve patted me on the shoulder and laughed.

Sorry, but I’ll have to stick a straw in and sip for a while.

I gave him an awkward smile, as if to apologize.