New Employees With an Annual Salary of 1 Trillion Won - Chapter 57
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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Chapter 57. New Game (2)
We finished drafting the contract with Google.
After completing their signatures, the Google Management left the fund office with solemn expressions.
The General Manager and I quietly looked at the contract.
“General Manager, but aren’t the clauses related to entering Korea too favorable to Google’s side? If the Google Management wants, they can not only improve the service direction but even discontinue it.”
“Wouldn’t it be fine if this Deputy Branch Manager operates Google’s Korean service well so that such a thing doesn’t happen?”
“I’ll operate it without major differences from the United States, but still, if the Google Management changes their stance, there’s no way to stop them.”
The General Manager smiled, showing his canine teeth.
As if he was certain that such a thing would never happen.
“Can the Google Management really move unilaterally?”
“In the end, isn’t it the CEO who decides?”
“Korean Companies often work that way, but the United States is a bit different. The Board of Directors often holds substantial authority.”
“Still, if the founder is at the center like Google, can’t they do as they please?”
“That’s true initially, but once they receive investment and grow larger, it becomes difficult to make big decisions without board approval. This is especially sensitive for companies preparing for or already having gone public.”
Korean Companies often had Chaebol Chairmen wielding imperial power.
Having lived in such a structure, that felt natural to me, but American Companies were different.
“Even if the Founding Owner or management insists, can the board stop them?”
“The board might have many people close to management, but that’s not always the case. And ultimately, board composition depends on who holds the most equity shares.”
“We agreed to split 10% of the equity shares, but wouldn’t that amount be insufficient?”
“Why do you think it’s only 10%?”
The General Manager smiled again.
I could feel his confidence, as if every situation was in the palm of his hand.
“Do you plan to secure more equity shares?”
“Tiger Fund already holds 3% of Google’s equity shares. We’ll aggressively participate in this Series B and next year’s Series C as well. That would allow us to secure about 15% more.”
“Then we’d have a total of 28% equity shares. With that much, we could fill about a quarter of the board with our people.”
28% equity shares would be sufficient insurance.
Of course, securing that much would require massive funds.
Since the General Manager and I were confident about Google’s potential for success, that level of investment wouldn’t be wasteful.
“28% isn’t enough. This IT bubble collapse caused many VCs and angel investors to suffer major losses, and many went bankrupt. We plan to buy up all the Google equity shares from them.”
“Then, what’s the maximum percentage we can secure?”
“At least 30-35% should be possible.”
“Google is still a private company. If we buy up the additional shares issued after going public, we could secure even more equity.”
Was I thinking too much in Korean terms?
The General Manager shook his head and continued his explanation.
“Not all shares are equal to one vote. In the United States, voting rights differ depending on the type of stock. That’s why securing as many shares with voting rights as possible is key.”
“Could the shares issued after going public have no voting rights?”
“They could have 1/10th voting rights, or no voting rights at all. Of course, if you secure a large amount of such shares, you can have some influence, but it can’t compare to the equity we’re securing now.”
The American system was so different from Korea’s.
Trying to understand America’s structure, which was so different from Korea’s financial structure, made my head spin.
“In the end, we need to secure as much equity as possible now to get our people on the board of directors.”
“Exactly. The founders hold roughly 40% of the equity, so we need a similar level of shares to maintain balance on the board.”
“So that’s why it didn’t matter if the contract had poison pill clauses.”
“If we become the largest shareholder, the contract terms become completely irrelevant. This contract is just a means to acquire 10% of Google’s equity.”
It was a strategy I never could have imagined.
The collaboration contract was merely a tool to secure Google equity.
Of course, collaboration with Google was necessary for Rollbook’s success, but the General Manager was drawing a much bigger picture.
“Are you planning to contract with Netflix in a similar way?”
“Similar, but we’ll need to approach it a bit differently. Google is already an established company, but Netflix is just starting to grow.”
“You’re saying it’s Netflix, not us, who’s in the desperate position.”
“Unless they can make various preparations like us, Netflix will have no choice but to accept unfavorable contract terms.”
We were able to negotiate with Google on equal footing.
Although Rollbook’s scale was much smaller, we had completed various preparations, such as developing algorithms in advance.
But the situation with Netflix was different.
This time, we held the initiative in negotiations, and Netflix was the one who needed to come prepared.
If their preparation was insufficient, they would ultimately have no choice but to accept unfavorable conditions.
“Are you thinking of securing Netflix equity as well?”
“What do you think, Song Sang-yeon? Do you think we need to secure Netflix equity like we did with Google?”
“We might be fine without equity for now, but considering their growth potential, it seems necessary to secure some in advance.”
“Then we should negotiate to receive some equity, and depending on the situation, pursue large-scale acquisition as well.”
Through Rollbook, Netflix could significantly increase their users and revenue.
In that case, we could naturally demand equity in return.
Depending on negotiations, there was also an opportunity to secure a substantial amount of Netflix equity.
“Even though we hold the initiative, securing equity shares will still make this quite a difficult negotiation.”
“It depends on how you think about it. I believe this negotiation won’t be that difficult. That’s why I want you to handle this negotiation, Deputy Branch Manager.”
“Are you telling me to conduct the negotiation by myself?”
“You’ve participated in several negotiations with me so far. I think you’re capable enough to handle it on your own now.”
“Will I really be in complete charge without anyone else?”
“I’ll provide you with an interpreter. But you’ll conduct the negotiation itself alone. Just report back to me afterward.”
I broke out in a cold sweat instantly.
Though I had observed several negotiations from the sidelines and chimed in occasionally, I had never once taken the lead.
I already felt like my throat was completely blocked.
But I didn’t refuse.
I didn’t want to pass up the experience of directly designing and controlling the game myself.
I wanted to experience the thrill of taking the lead to predict and control the other party.
“When is the negotiation scheduled?”
“The Netflix CEO is scheduled to visit the Fund Office tomorrow.”
“Then I need to start preparing right away. May I excuse myself first?”
“Do as you please. And don’t be too nervous. Confidence is the most important thing in negotiations like this.”
Don’t be nervous, he said.
To have confidence, I needed to be thoroughly prepared.
I immediately returned to the hotel and stayed up all night preparing for tomorrow’s negotiation.
***
Could a day really be this short?
While frantically preparing, dawn had already broken.
I went to the Fund Office alone and welcomed Netflix’s CEO, Reed Hastings.
“Nice to see you again.”
“You’re the Rollbook CEO, right? But I understood today’s meeting was with Tiger Fund. Am I mistaken?”
“No. I’m the CEO of Rollbook and also serve as Deputy Branch Manager of Tiger Fund Korea Branch. I’ve been given full authority for today’s negotiation.”
CEO Reed still looked puzzled as he took his seat.
But since the one in need was CEO Reed, not me, I pulled myself together first and entered the negotiation.
“I’m glad to be negotiating with someone from a developer background. As you know, our Netflix system is far ahead of existing DVD rental methods.”
“It’s true that customer numbers are growing rapidly and revenue is also increasing. However, it’s also true that the deficit isn’t shrinking.”
The first point of attack was profitability.
Like most IT companies, Netflix was also struggling in a swamp of losses.
And Netflix was still in its growth stage.
During such times, expanding market share was the priority, and this required more cash.
Especially to survive an environment where the IT bubble had collapsed like now, more investment funds were desperately needed.
“If we can just boost our market share, turning a profit is definitely possible.”
“If an IPO had been possible, we could have received the necessary funding. But going public doesn’t look easy in the current atmosphere.”
“It’s difficult now, but if we prepare diligently, I believe it’s possible within 2 years.”
Thanks to preparing all night, I had a thorough understanding of Netflix’s situation.
Originally, they could have gone public this year, but the bubble collapse pushed back all schedules.
Now they were in a situation where they had to restart their plans from scratch.
“Winter has come to the IT ecosystem. To survive winter, you need to store enough grain in your warehouse, but at the same time, shouldn’t you also reduce the amount of grain going out?”
“You’re saying we need to reduce not just investment funds but also our deficit?”
“That’s right. Using the Rollbook platform, we can significantly increase Netflix’s revenue in the short term. While turning a profit might be difficult, it will definitely help reduce losses.”
It was time to use the second attack point.
New features and systems.
This was what Netflix lacked most, and it was something I could provide.
I opened the temporary website I had prepared and showed it to them.
It was a movie community page I had created within the Rollbook platform.
At the bottom of the page was a DVD ranking, and next to each title was a ‘Rent’ button.
“I’ve built a DVD ranking system within the community. Clicking the button below each title automatically connects to the Netflix website.”
“This would definitely help with user acquisition.”
“Not only that, we can also display Netflix advertisements in each university community, and provide the algorithm I mentioned before as well as additional algorithms.”
At that moment, CEO Reed’s expression changed noticeably.
His desire for new features and algorithms was clearly written on his face.
“What do I need to do?”
“Naturally, if we establish a partnership with Rollbook, we can support all of those things.”
“I was actually planning to propose a partnership first. What are the partnership conditions?”
I could sense the other party’s impatience.
But that didn’t mean I should become impatient too.
As the Branch Manager had taught me, I maintained my composure and continued speaking.
“I would like to make equity acquisition a condition.”
“What percentage of equity shares are you looking for?”
“I’ll acquire 20% equity shares for 5 million dollars.”
“…Those terms are difficult to accept. For 20% equity shares, even if you offered twice that amount instead of 5 million dollars, it wouldn’t be acceptable.”
CEO Reed leaned back against his chair.
In an instant, the desire vanished from his face.
He looked as if his pride had been wounded, and I quickly presented additional conditions.
“This isn’t a simple cash investment.”
“Then, are there other conditions as well?”
“Most importantly, we can strategically help with stock listing. With Rollbook and Tiger Fund together, you could achieve the level of revenue needed for listing within one year, not two.”
“Is it really possible within one year?”
There were countless requirements that needed to be met for an IPO,
but utilizing Rollbook could help achieve those conditions quickly.
It wasn’t just empty words – it was truly a possible situation.
Rollbook’s gears and Netflix’s gears had many similarities, and it was a structure that could create beautiful harmony together.
“When clients flow in through Rollbook, revenue will naturally increase. And marketing costs will be significantly reduced. When revenue rises and losses decrease, IPO Underwriters will have no choice but to take interest.”
“Are there any other conditions by chance?”
Listing was the ultimate goal that startups dreamed of.
At the mention of helping with listing, CEO Reed’s expression brightened considerably.
I didn’t miss the flow and brought up the next condition.
“Not only will we provide the algorithm, but we’ll also include a condition that we won’t contract with competitors. We’ll ensure that only Netflix can exclusively promote and attract clients through Rollbook.”
“Those are truly attractive conditions. But what’s the reason for going to such lengths to secure Netflix equity shares?”
Now the fish had completely taken the bait.
It was time to reel it in, and I pulled out a large net.
“I believe that together with Rollbook, Netflix can grow into a corporation that dominates the market.”
“What market are you referring to?”
“Could you take a look at this laptop for a moment? This is Rollbook platform’s music streaming website.”
CEO Reed examined it with interest.
And for good reason – most of the functions that could be applied to a DVD rental website were already implemented within this.
“We’ve already created one of the few websites where you can listen to digital music files online for a fee.”
“I understand that most people download and listen illegally.”
“Movies are the same. Illegal distribution is overflowing. But someday, whether it’s music or movies, an era will come where people pay a fair price and enjoy content online. This is also the direction Netflix should move forward.”
CEO Reed froze as if struck by shock.
The final evolutionary form of the Netflix gear structure I had designed was streaming.
CEO Reed immediately realized that this could target a market thousands of times larger than the current one and grabbed my hand firmly.
“I’ll do it! Just as you said, Deputy Branch Manager, that’s exactly the path Netflix should take! I’ll definitely work with you!”
“You’ve made a wise decision. Let’s build the IT ecosystem together from now on.”
He didn’t let go of my hand for quite a while.
CEO Reed only released his grip after I presented the contract, and while he was signing, I wiped my hands several times with wet wipes.
By the time I folded the wet wipes and put them in the trash, CEO Reed had finished signing.
Thus, Netflix and Rollbook formed a powerful partnership.
1 Trillion Won Annual Salary New Employee Episode 57
E-book Publication Date | 2025.11.27
Author | Seo Oh
Publishers | Heo Heung-beom, Park Geon-won
Publishing House | Poten
Address | [04783] 10th Floor, 8 Yeonmujang 11-gil, Seongdong-gu, Seoul
Phone | 02-6320-8500
Fax | 02-6320-8585
ISBN | 9791175305892
Price | 100 won
ⓒ Seo Oh 2025
This e-book is a copyrighted work protected by copyright law.
This e-book is published under contract with the author, so unauthorized reproduction, copying, distribution, and sharing are prohibited without written consent from both parties.
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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