Money Likes Me Too - Chapter 45



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Episode 45.

It was also the first time for CEO Hong Jeong-tae to attend the Cocoa Forum.

“In 2014, we at Cocoa are dreaming a bigger and newer dream.”

What followed was surprising. It was an ambitious vision to grow the existing help cloud service into a B2B cloud solution that could compete with Amazon or MS and enter the global market.

Someone raised a hand.

“Last year, CEO Kang pointed to artificial intelligence as the food of 2013.”

“That’s what it was.”

“Your vision has changed in just one year. Is there a reason for this?”

Hong Jeong-tae was also curious about the answer. He listened.

“Data is said to be the fuel of AI. In other words, it is the oil of the future. Data centers can be likened to oil fields. As everyone knows, the oil industry is a typical industry with a long investment period. The same goes for data centers. If you don’t prepare in advance, it will be too late.”

He nodded.

“So does that have anything to do with the artificial intelligence being researched at KAA?”

“I think there will be synergy in the future. I can’t tell you the details for security reasons.”

The forum continued after that.

After the Cocoa Labs presentation, other companies also talked about similar topics. The atmosphere was free-spirited.

It was a different feeling when I was helping.

‘The vision of expanding the business direction to the cloud is not a wrong vision.’

Suddenly, something old came to mind.

It was before coming under Cocoa. Chairman Lee Chung-jae had similar thoughts. It must have been two years ago. It was when Amazon ASW first entered the domestic market.

At that time, the concept of cloud did not really exist.

He built a huge CDC (cloud data center) that was not suitable for his company. There was strong opposition, but Lee Chung-jae persisted. He held on and did not sell even when the stock price hit rock bottom.

It turned out to be a good thing.

Other companies didn’t do that. No, they couldn’t do that.

It is common for companies to sell off all their usable real estate to try to gild their increasingly shabby financial statements. I have seen this many times. In the end, the end is shabby. They are not even recognized for half of their original corporate value and they leave the stage in melancholy. It is always the same ending.

The help was different.

Even though he surrendered, he still left his name behind. He received Cocoa’s recognition.

It is not the strong who survive, but the survivors who are strong. It was all thanks to Lee Chung-jae’s stubbornness.

‘Should I call this a blessing or a curse······.’

The forum is over.

Taking advantage of the chaos, he got up. If nothing else came up, he was planning to stop by TF and then return to Jeju Island.

“Mr. Hong.”

Director Han Jang-soo approached me.

“Representative Kang said he would like to speak to you briefly.”

“Oh, yes.”

I will definitely ask about the Jeju Island CDC story.

It had come. Hong Jeong-tae shivered at the feeling that he was sharing a historic moment with Cocoa.

***

Hong Jeong-tae came in.

“Is everyone here now?”

CTO Yoo Jae-hong, CSO Han Jang-soo, and Lee Jong-suk also took their seats. Hong Jeong-tae, who arrived last, also took his seat.

I was about to start a serious conversation. I opened my mouth.

“then······.”

“No!”

“I haven’t said anything yet.”

“Anyway, it won’t work.”

Everyone laughed.

“No, the guests are here, so please offer them each a cup of tea.”

The only one who couldn’t smile was Director Han. He went out with a resentful look on his face. After Won Jin-ju left, there was no one to help him.

“Did you all hear that?”

It was a forum story.

“Here’s my plan. I’m going to expand the size of the Jeju CDC and reorganize it into a global cloud center. If you have any opinions, would you like to speak first, Director Yoo Jae-hong?”

“yes.”

At my words, Yoo Jae-hong opened his mouth.

“First of all, I agree.”

I knew it.

“We needed to gather the data that was scattered here and there inconsistently into one place, and then redistribute it again by building a proper architecture. I think Jeju CDC would be able to handle the role sufficiently.”

“Are you in GH Mega Center now?”

“yes.”

The fee was very cheap. I had to change it.

“Wouldn’t that make the cost too high?”

Lee Jong-suk, whose feet were numb, asked.

Instead of answering, “That’s why I’m doing it,” he brought out the correct argument.

“It’s not Cocoa that’s afraid of change because of the immediate cost. I think we need our own data center that’s like Cocoa. Not just for us, but for the customers who trust us with their personal information.”

No one answered.

“Any other opinions, Director Han?”

I asked him as he came in carrying the car. He had a displeased expression on his face.

“Let me just talk about money, sir. Do you happen to know how much our sales were last year (2013)?”

“I know, I know.”

“Then you know the operating profit as well.”

“Of course. If I remember correctly, it was around 530 billion. Is that correct?”

It was a sudden attack. My heart ached.

I made a lot of money. No matter how much I invested, it didn’t seem like my money was decreasing. There’s a reason for that. Numbers don’t lie.

“That’s right, sir. If you include all the affiliated companies, it’s close to 600 billion.”

Director Han continued speaking as if he had made up his mind.

“I also looked into the cost of building a data center.”

I had a feeling I was going to be late.

“It varies depending on the size, capacity, and location, but it is estimated to cost between 500 billion and 700 billion won. The Jeju Island center would likely cost even more because of its location. Am I right, Mr. Hong?”

“Yes, that’s right.”

“Then, even if we just expand the data center in Jeju, it would cost as much as building a new CDC.”

“I guess so. It’s not an exact calculation though.”

When Director Han heard those words, his face became proud.

“That’s almost all of the operating profit for the year. If you keep a household account book like this, there will be an uproar saying that the family will go bankrupt. That won’t do, sir.”

My answer was simple.

“It can be done.”

“yes?”

“If you can build it using all of your operating profits, that means you can build it, Director Han.”

He opened his mouth wide. It was the look on his face as he realized something he had never known before.

“So everyone agrees?”

Finally, I organized it.

“If additional costs are needed, please have CEO Lee Jong-seok cover them from KSH. Please also consider establishing a joint venture between KSH and Cocoa Labs. That concludes my remarks.”

Hong Jeong-tae thought as he went up to the office.

‘He seems like a person with no backing.’

I just saw and heard it, but I still can’t believe it.

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This was the first time I’d seen someone like this.

He was an entrepreneur, but he also had the aggression of a corporate bull like Carl Icahn and George Soros.

I got goosebumps all over my body.

‘Such reckless reinvestment gave birth to a monster like Cocoa Game Studio.’

It was similar to help, but worlds apart.

I was surprised to see last year’s performance. I studied a bit when I came to Cocoa. Even before the spin-off, the contribution to operating profit was ridiculous. It was understandable because the proportion of original IP was high, but even considering that, the performance was crazy.

At first I didn’t understand it. Now I do.

‘So that’s what Director Han meant when he said he was welcome.’

Hong Jeong-tae was slowly realizing the true nature of cocoa. His hidden M&A instincts began to boil again.

***

At that moment, Google’s senior vice president Alan Davis was walking down a London street, the first time since 2014.

It was because of Alphamind.

“Long time no see, London friends.”

The office was the same. It was still small. He opened the door and went in, and the cheerful voice of Damien Hassabis greeted him.

“Hi, Alan. It’s Google today.”

“Who was it yesterday?”

“Well, I don’t want to talk about it. It’s confidential.”

In fact, Alan knew it too.

Rumors were rife that Elon Musk had visited London, introduced by Peter Thiel, who participated in Alphamind’s seed investment.

“Is this confidential? It has over a few thousand retweets?”

Damien snickered. He guided us inside. After all, even though it was inside, there was only one table without any partitions.

The two sat facing each other. They had a story they always had.

“How much did you learn today?”

Damien asked, half joking.

“1 billion.”

“It’s disappointing.”

“But this time, that’s not all.”

“That’s the most exciting thing I’ve ever heard. Please keep talking.”

Alan shook his head.

“I can’t say it that easily.”

It’s a thirsty person digging a well. It was a long-awaited advantage. Alan suddenly said.

“By the way, I’m hungry. Do you have anything to eat?”

“This is England. Someone who knows.”

“Oh, I almost forgot.”

Finally, a cup of black tea was placed. Damien spoke seriously.

“You know, we’re not doing this just for the money.”

Alan knew it too.

“I really want Professor Compton to join our project. But that’s difficult. It’s a finished problem.”

Damien was still reeling from losing Jeffrey Compton to Cocoa a year ago at a hotel in Lake Tahoe. Google’s infrastructure and Compton’s deep learning algorithms were essential.

Google didn’t necessarily need Alexis, but he wasn’t. Either one alone wouldn’t do. It had to have both.

Alan puffed out his chest.

“You’re in a hurry. That’s what I was going to say.”

“yes?”

Damien’s face brightened noticeably. He really is quick-witted.

“I knew Damian would like it.”

“Does that mean Professor Compton is going to join Google? If so, even 100 million, not 1 billion, is okay.”

“Unfortunately, that’s not the case. But it’s still good news for Damien.”

“So what is that?”

Damien’s body was hot, Alan explained.

His words were as follows:

It is difficult to acquire Alphamind. It is also difficult to find a replacement for Alexis, who has moved to Cocoa. In that case, how about a joint venture between Cocoa and Google? I raised that opinion.

The okay sign came a few days ago, so that’s why I came here to talk about it first.

“I’m fine.”

Damien’s expression was dark, contrary to his words.

“I have a feeling it won’t work out. The Mr. Kang I’ve seen would never want Google involved in this. He’s a heartless beast.”

He then cited the recent story of Cocoa’s acquisition as evidence.

“Just a moment.”

“why?”

“Help? That name sounds familiar. Where have I seen it before?”

He took out his cell phone. After a while, he burst into laughter.

“I knew this would happen.”

“What is it?”

“Thank you. I’ve heard about this company before. It’s the company that acquired Lycos a few years ago.”

The corners of his mouth were twisted as he tried to hold back a laugh.

“They bought it from Terra Networks at an outrageous price and then sold it to an Indian telecom company called Exaliten at half price. I believe they haven’t paid the money yet. It’s like a history of the two leaders. There’s no one in Silicon Valley who doesn’t know about this incident. Haha.”

“But what does that have to do with us?”

Damian asked.

“The PageRank solution and all that stuff that the Indian company is leasing is all ours, Google.”

“ah······.”

“In short, Exa has no choice but to listen to us.”

Alan smiled with conversion.

“Maybe I can send Mr. Kang a small gift he can’t refuse. How much is 26 million dollars in Korean currency?”

Damian shrugged instead of answering. He wasn’t particularly interested in the won price.

At that time, Seoul.

‘It’s strange. Why does my spine feel so cold?’

The season called spring was fading away. However, it was strangely cold. I was wondering if I should turn on the heater again.

dripping,

Just then there was a knock on the door.

“Come in.”

It was Coco I&M CEO Song Yu-hwa.

“I did mention this to Director Han, but the reason is that there is a private screening of next week. I thought it would be good if you could come.”

I had forgotten about .

The production cost was already close to 30 billion won. It exceeded expectations. It did a great job. Now, it was just waiting to be released in theaters and fail.

It wouldn’t be hard for such a pretty child of mine to make her debut.

“Let’s go and see.”

I stopped Song Yu-hwa, who was trying to leave after hearing what I said.

“Are the screenings going well?”

“It’s going well.”

“I don’t know much about it, but I heard that the more theaters you screen it in, the more successful it will be. Since it’s our first movie, I hope you can screen it in as many theaters as possible.”

Box office success? I can’t hope for anything like that.

The more you walk, the more money you spend. The less profit you make. I hid my true feelings.

“I don’t know about anything else, but I think you can rest assured about that, sir.”

Song Yu-hwa’s face was filled with confidence. She still hadn’t forgotten the text message Lee Jong-suk had sent her.

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