Golden Spoon Investment Portfolio - Chapter 307

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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307. Good things shouldn’t require me to drink alone through a straw.

“By the way, Adam Carlson is arriving in New York tomorrow, correct?”

Landon Shore answered immediately to Seok-won’s question as he sat with one leg crossed.

“Yes. He’ll be arriving on the private jet we sent from Seattle.”

Adam Carlson was a remarkable individual who had graduated from Princeton University and, after working at several venture companies and emerging financial firms for years and earning recognition for his abilities, had risen to executive-level positions before even reaching thirty years old.
Then he suddenly submitted his resignation and moved to Seattle, where he founded Amazon, an internet bookstore venture.
Though it was a fledgling venture company that had been operating for less than two years, it had become one of the notable ventures gaining attention amid the IT boom, with Wall Street Journal featuring it prominently on the front page with a special article this May.

“You’ve completed the preliminary negotiations, I assume?”
“Since they’re preparing for a stock market listing around next year, they need investment to maximize their valuation before then, so the other party is viewing our proposal positively.”
“That’s fortunate.”

I had proposed the investment first to secure a stake before Amazon, which would become the world’s largest e-commerce platform, went public and began its explosive growth in earnest.

‘It would have been ideal if I’d invested during the initial startup phase, but it’s unfortunate that I couldn’t.’

Unlike other venture founders, Adam Carlson possessed considerable personal wealth and had easily secured 2 million dollars in startup funding from relatives and friends, leaving no opening for me to exploit.
And within just a week of founding, he was already selling books across the entire United States and in 45 cities worldwide, with Wall Street Journal publishing a special feature, experiencing steep growth and continuous success from the start.
As a result, unlike Netscape, Yahoo, and Hotmail, I had no choice but to value the company highly and invest accordingly.

‘Still, considering Amazon’s stock price will skyrocket in the future, catching this last train now would be far more profitable.’

However, Landon Shore and Andrew, unaware of such a future, displayed skepticism.
Sure enough, Landon glanced around cautiously and expressed his concerns carefully.

“Amazon is certainly a promising venture, but even so, valuing the company at 200 million dollars seems far too expensive no matter how I think about it.”
“I share the same opinion. Moreover, if you didn’t already hold shares in any e-commerce companies, it might be different, but you already own 25% of eBay, don’t you?”

I personally invested 30 million dollars in eBay, the first person-to-person internet auction site, and owned 25% of its shares.
Among similar open market platform ventures, eBay was considered to have the fastest growth and greatest success potential, valued at 120 million dollars, so it seemed reasonable to question why I was valuing the lagging Amazon even higher.

“My perspective is different.”

With his fingers interlaced and a leisurely smile playing at the corners of his mouth, Seok-won continued.

“There are certainly overlapping aspects, but the two companies’ business models are clearly distinct—one focuses on merchandise sales, the other on peer-to-peer auctions. I valued Amazon higher because I believe its growth potential far exceeds eBay’s.”

Andrew was well aware of Seok-won’s exceptional foresight, yet he still found himself struggling to accept this assessment.

“It’s just a company that sells books, after all. Do you really believe it warrants such a substantial investment?”
“I do.”

Seok-won spoke with absolute conviction, his tone brooking no hesitation.

“Right now it’s books alone, but I’m certain it will become the Walmart of the internet world—eventually selling music, videos, games, toys, and everyday essentials across a vast range of products.”
“The Walmart of the internet world?”

Seok-won nodded toward Andrew, whose expression had shifted to one of surprise.

“Before Amazon came along, no one imagined you could buy books over the internet. Yet now, someone in Paris, France can purchase American books through Amazon and have them delivered immediately. If that’s possible, why couldn’t the same apply to other products?”

Andrew paused to consider this carefully, and his response shifted from skepticism to cautious optimism.

“Now that you mention it, that does make sense. There are certainly challenges to overcome, but I don’t see why it couldn’t work.”
“If it truly becomes the Walmart of the internet world, then two hundred million dollars wouldn’t be an excessive valuation.”

Landon Shore chimed in agreement as well.

“Without looking too far ahead, by the time Amazon goes public next year, its valuation will have doubled from where it stands now.”

Seok-won stated this with unwavering confidence.
The two men exchanged skeptical glances, yet they couldn’t help but recall that Seok-won’s judgment had never once proven wrong, and they found themselves hoping this would be no exception.
If Amazon truly demonstrated the potential to grow into an internet Walmart, it could command a premium valuation riding the wave of the booming IT sector.
Moreover, given his track record of reaping enormous profits from the Netscape investment, coupled with the fact that his stakes in Yahoo and Hotmail—acquired afterward—had grown to valuations incomparably higher than their initial investments, the proposition seemed all the more credible.

“And venture investing is fundamentally about betting on potential, isn’t it?”

Seok-won shrugged as he spoke.

“Even if some investments fall short of expectations, if just one or two out of ten succeed, the returns will more than offset all losses. The more seeds you plant, the better.”

Since this was Seok-won’s personal investment rather than fund capital, and negotiations had already been virtually concluded with only signatures remaining on the contract, neither man saw fit to raise further objections.

“You invested 50 million dollars and received 25% of Amazon’s shares, correct?”
“That’s correct.”

Seok-won’s face beamed with satisfaction as he acquired a 25% stake in Amazon—a company that would later be hailed as one of the Magnificent Seven and grow into a global behemoth worth over 2 trillion dollars—for a mere 50 million dollars.

“Once the contract is finalized, let’s arrange a dinner together. When you invest in someone, you’re essentially boarding the same ship. Since this person will be generating substantial returns for me in the future, it would be wise to cultivate our relationship while we have the opportunity.”
“Since you won’t be staying in the United States indefinitely, that’s a sound approach. I’ll make a reservation at the French Restaurant in the Plaza Hotel, where you’re currently staying.”
“Their foie gras is exceptionally smooth and delicious. That would be perfect.”
“Ah, I had it recently myself, and it was truly excellent.”

Landon Shore nodded at Andrew’s words.

“Then I’ll have them prepare it as the main course in advance.”

Having concluded the Amazon investment matter, Seok-won suddenly asked as if something had just occurred to him.

“By the way, how are things progressing with Nvidia?”
“I was about to brief you on that. After sending the letter of intent as you instructed, the CEO himself contacted us saying he would visit personally.”
“By CEO, you mean the founder Travers Huang.”
“That’s correct.”

Seok-won stroked his cleanly shaven chin with one hand as he responded.

“The fact that he’s coming forward so eagerly suggests the company’s situation really is as dire as the rumors suggest.”
“The NV1 graphics card they developed and launched for the first time last year performed significantly worse than competing models, contrary to expectations, and the price was higher than the initially quoted 200 dollars, resulting in a disastrous failure.”
“Yet wasn’t Nvidia recognized for its potential by Sega and selected as one of the candidates for the graphics chip in their next-generation gaming console?”

Sega, a multinational global video game developer headquartered in Tokyo, Japan, maintained local subsidiaries in the United States and Europe.
Nvidia caught the attention of Sega of America in California and was able to secure a spot among the candidates for the next-generation gaming console’s graphics chip.

“That’s true, but in developing their new graphics card, they switched from the square polygon method used in the NV1 to the triangular polygon approach that has become mainstream, essentially wasting all their previous investment in the process.”

Seok-won’s eyes widened with interest. He was aware that Nvidia faced significant difficulties during this period, but he hadn’t known the specific details.

“Then the contract with Sega must have become impossible.”
“After realizing they couldn’t compete with the other candidates, Nvidia abandoned development themselves. Fortunately, Sega honored their commitment and paid out the remaining 5 million dollars in support, which kept them from immediate bankruptcy. But apparently, they can only survive another six months at most.”

Yet eventually, Nvidia would overcome these difficulties, and their graphics card launching next year would become a massive hit, enabling their comeback.
Knowing this fact, Seok-won viewed the company’s dire situation as a golden opportunity.

“So you’re completely abandoning the development of a new graphics card?”

Seok-won straightened his upper body as he asked.

“Not entirely. According to them, they plan to completely overhaul the existing architecture and rebuild the product from scratch. However, given the shortage of time and funding, combined with the fact that they’ve already failed twice, industry experts believe it will be extremely difficult.”

Landon Shore glanced at his expression before adding his opinion.

“In my assessment, Nvidia appears to have no prospects. I would recommend reconsidering the investment.”

I tapped my fingers against the armrest of the sofa, deliberating for a moment before lifting my head and speaking.

“Travers Huang said he would come meet with me personally, correct?”
“Yes, sir.”
“Let’s have a conversation with Travers Huang first, and then decide whether to proceed with the Nvidia investment or withdraw.”

Landon Shore thought there was no real need for that, but since the decision was mine to make, he bowed his head without further comment.

“Understood. When should I tell him to come to New York?”
“We need to finalize the investment contract with Amazon first. Next week should work well.”
“Then I’ll schedule the meeting for Wednesday when your calendar is clear.”
“That sounds good.”

The urgency was on Travers Huang’s side, so there was no need for me to rush.

‘The more time passes, the more desperate he’ll become, which means I can extract better terms.’

That said, if I dragged things out too long, I risked losing this big opportunity entirely, so I planned to play it strategically with measured pressure.

‘Come to think of it, this was around the time I would forge a connection with TSMC, the foundry company from Taiwan.’

I intended to leverage Nvidia and Travers Huang’s desperate situation to ensure they couldn’t turn to anyone else, keeping them firmly under my control.

‘Good opportunities like this—I should be the only one drinking from the well.’

Thinking about how much profit I could reap from this investment, following Amazon, brought an involuntary smile to my face.
And the prospect of witnessing the younger days of Travers Huang and Adam Carlson—men who would one day accumulate immense wealth and become titans shaping the world—filled my heart with excitement and anticipation.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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