Chapter 35: CH33
I searched for startup-related information on the internet.
Finding information about private companies is not easy compared to public companies. Certainly, there are limits to the information that individuals can access through simple searches.
I read through the information I found on the internet. Although it seemed well-written, most of it was superficial.
Well, they wouldn't make all the really important information available for everyone to see, right?
That's why we need help from industry insiders.
As I scratched my head in contemplation, Taekgyu asked, "What's wrong?"
I handed the materials I had read to Taekgyu.
"Since it's in Korean, want to give it a read?"
"Hand it over."
Taekgyu took the material and started reading.
While sipping coffee and searching for more information, an email notification chimed in.
Ring!
Finally, it's here!
I quickly opened the mailbox. The sender was Hyunjoo.
[ just got a chance to check my emails. I have sent the available materials urgently. I'll send the rest as I find them.]
Looks like she's really busy and must be even more so at the end of the year.
I printed out all the PDF files attached to the email. The printer continuously spat out pages.
"What kind of material is this now?"
Golden Gate, a global investment bank, has branches worldwide and houses several investment firms under its umbrella. Among them is an agency specializing in startup investments.
Startups in need of investment present detailed proposals filled with ideas and passion, knocking on doors here and there.
The top talents working at Golden Gate meticulously review these proposals, selecting startups with growth potential for investment decisions.
Taek-gyu, who heard the explanation, asked. "So, is this a list of startups invested in by Golden Gate?" I shook my head. "No, it's the other way around."
Entrepreneurs challenging the new industry have ideas and passion. However, ideas and passion do not directly translate into marketability.
There are numerous experiments and trial and error before ideas and passion come to fruition. This process is called scaling up.
To endure the scaling-up process and bring marketable products to the market, money is needed. That's why startups seek investors.
Even if they are fortunate to receive investments, not everyone succeeds.
Many startups fail for various reasons: the product turns out poorly, insufficient funds, being too ahead of their time, being entangled in regulations, being caught in patent disputes, or being outpaced by competitors with better products.
To borrow from Tolstoy, 'successful companies succeed for the same reasons, but failed companies fail for their own unique reasons,' right?
Companies that have successfully secured funding through approved proposals don't need to worry. Those companies can attract investors regardless of us.
What I am focusing on is the failed startups.
I told Taek-gyu, "From these, finding unicorns is what we should be doing now."
***
Information poured in through emails.
As I reviewed the information, Taek-gyu printed and organized it for me.
The printed material piled up like a mountain. I never expected there would be so many startups seeking investors.
Since the data seemed to be from Golden Gate, American companies were the most abundant. However, there was diversity in nationalities beyond that.
Not only advanced countries like the USA, Canada, Australia, the UK, France, and Finland but also emerging countries like China, India, Indonesia, Vietnam, Cambodia, and the Philippines.
I meticulously reviewed each proposal.
"Since the late-night snack has arrived, let's eat."
"Yes."
Looking at the clock, it was getting closer to midnight.
On the living room table, there was kimchi stew and spicy stir-fried pork that Taekgyu had ordered set up. Since neither of them knew how to cook, they opted for delivery food for all their meals.
Fortunately, not only pizza or fried chicken but also stews, soups, and even sashimi or course meals could all be delivered to their home.
This time, they managed to convince each other to change the menu order from a Chinese restaurant.
"Haha, humans have evolved to the point where they can survive without even taking a step outside."
"······."
Humanity, once involved in hunting and gathering, can now order food with a few clicks on a smartphone, indicating evolution in some aspects.
"When you eat, put down the documents. Nothing will happen if you don't look for a moment."
"Okay, got it."
I temporarily put down the documents I was holding.
Taekgyu turned on the TV. Celebrities gathered at the year-end awards show, preparing to welcome the new year. Small screen views of the backstage are shown below.
Around 11:50, the screen completely changed, with the backstage view becoming the main focus and the awards show venue becoming the smaller screen.
The reporter, exhaling white breath, spoke:
"[······Despite the cold weather, many people are gathered around the venue to welcome the new year. We hope that everyone's wishes for the new year come true. We have about 10 minutes left until the new year.]"
The area around the venue was bustling with crowds. The reporter conveyed the on-site situation by interviewing families who had come from the countryside.
"Have you ever been there on the 31st?"
"No. It's better to watch from home than to go there just to see people. It's more comfortable."
"That's true."
As the clock struck exactly midnight.
The reporter said vigorously.
[Shall we all shout together? 5! 4! 3! 2! 1!]
Ding! Ding!
The sound of the New Year's bell echoed. Finally, a new year had begun.
Taekgyu spoke while eating, "Happy New Year."
"Oh, you too. Happy New Year."
Normally, he didn't care much about such things, but this time it felt different for some reason.
Had he gone through too much in such a short time?
"But don't you think we've done well?"
"What?"
"Just… everything."
I could tell what he was trying to say.
Thanks to Taekgyu finding the Bitcoin encryption key, suddenly 13.6 billion won appeared, and I multiplied that money to tens of billions through my foresight.
Until just before discharge, I was broke, but now I'm contemplating which company to acquire.
If he achieved this much, it would be enough to praise himself.
"Let's do even better this year."
***
The New Year morning has dawned.
Mother visited the house early in the morning, carrying loads in both hands.
"Wishing you a Happy New Year."
"May you two also receive a lot of blessings in the new year."
Mother first put away the things she brought into the refrigerator. The empty refrigerator was now filled with side dishes.
"The fridge is so big, but there's nothing to eat. Are you taking care of your meals regularly?"
"I'm eating well."
In reality, I often eat when hungry and skip when not.
"But why do you look so tired?"
"I didn't sleep well last night."
I stayed up late looking at documents. Did I sleep for an hour or three?
Meanwhile, Taekgyu, who went to bed early and rose early, looked energetic.
"Let me show you around the house."
Following Taekgyu's lead, Mother looked around the house.
"The house is nice. But why is it so messy?"
It's because I don't clean. Should I hire a housekeeper?
"I expected this when two men live together."
Mother took out rubber gloves and detergent from her bag.
When did you prepare those?
Then she started cleaning, starting with the bathroom.
"I'll do it, Mother."
"You can rest, Taekgyu, since you can do it alone."
"No, I like cleaning."
If you like it, why didn't you do it earlier?
Taekgyu also put on rubber gloves and got to work. While Mother and Taekgyu were deep cleaning the house, I continued to skim through the startup proposal.
The cleaning was finally done by lunchtime.
Mother went to the nearby market to buy groceries and cooked tteokguk. We all sat around the table together and enjoyed the Lunar New Year tteokguk.
With a nonchalant tone, Mother asked, "Is everything going well with work?"
"Yes."
Even without showing it, she seemed very concerned.
"Health is more important than money, so don't overdo it. Always be careful of scammers."
"Don't worry."
I nodded dryly, but Taekgyu confidently said, "I will take good care of the business."
"Okay, Taekgyu. Would you like more tteokguk?"
"Yes."
After the meal, Mother cleaned up the kitchen and then put on her shoes.
"Let's go out together."
I followed Mother outside to see her off.
"Still, the house is nice. The location is good, and there's a park nearby."
"How about living in Gangnam? You can find even better places than the house in Dongtan."
Mother shook her head.
"Enough. I like the house your father built the best."
If we didn't have money, Mother would still be struggling right now. And she probably wouldn't even dare to sell that house.
That's why I might need to work hard to earn money.
I reluctantly convinced Mother, who wanted to take the bus, to take a taxi instead.
"Since you will be back, make sure to eat well. I've put some frozen soup in the fridge, so you can heat it and eat."
"Got it."
"Stay strong, our son."
"Take care on your way in."
As I watched the taxi leave, I felt a renewed sense of enthusiasm.
"Should I give it another try?"
—
Judging the success of a business solely based on reading a proposal shows a lack of insight and can be a tough task.
Some ideas may leave you astonished, thinking, "How did they come up with this idea?" while others may make you question, "Did they present this as an idea?"
Businesses that are easy for investors to understand often have successful models already established in the market. Completely new businesses may need to create demand by supplying products to establish a market.
Whether one side succeeds or not, only trying will tell.
Taekgyu once again piled a mountain of documents in front of me.
"Is this all?"
"About half. I'm still pulling the rest."
"Ugh."
To review all of this, wouldn't it take being glued to it day and night for a week?
"Take it easy."
"Maybe Hyunjoo is used to this as a daily routine."
Both domestically and internationally, top IB executives are predominantly male. This is largely due to a male-dominated corporate culture and the glass ceiling, but also because the workload is physically demanding for women.
Monitoring the stock market, bond market, and commodity markets daily, keeping track of government policies and global economic trends.
Starting work in the early hours of the morning and leaving late at night is basic, and during busy times, one must continue working on various tasks even after returning home.
Before the Asian stock market closes, the European stock market opens, and before the European stock market closes, the US stock market opens.
The reason why finance professionals earning hundreds of millions in salary can't endure and resign.
Perhaps Hyunjoo noona also cannot have a proper night's sleep for even a few hours a day.
I thought it was really amazing. Not only did she get into Golden Gate, which is called the dream job in the finance sector, but she also got promoted to team leader.
It's a matter of whether it's okay to add great effort to innate talent.
On the other hand, Taekgyu lacks enthusiasm in everything and has a relaxed personality. Truly, his personality is completely opposite to Hyunjoo's, to the extent that it's hard to believe they are siblings.
As a result, compared to Hyunjoo noona who studied and worked hard, Taekgyu earned much more money. Thanks to hitting it big in Bitcoin, followed by Samsung Electronics' put options.
That's why life is unpredictable.
Although he couldn't handle the workload alone, he couldn't ask for help from others either. Others don't have the same abilities as me.
Thus, unlike me who works tirelessly and can't sleep properly, Taekgyu is overflowing with leisure.
Did he know this would happen so he passed all the shares to me?
TL/n -
A "unicorn company" refers to a privately-held startup that has achieved a valuation of $1 billion or more. The term was coined by venture capitalist Aileen Lee in 2013 to highlight the rarity of such high-value startups.
Examples of Unicorn Companies:
Uber: A ride-hailing and transportation network company that revolutionized urban mobility.
Airbnb: An online marketplace for lodging and tourism experiences that disrupted the traditional hotel industry.
Stripe: A technology company that provides payment processing solutions for online businesses.
SpaceX: A private aerospace manufacturer and space transportation company known for its ambitious space exploration goals.
ByteDance: The parent company of TikTok, known for its advanced algorithms and significant influence on social media.
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