At the end of the year on Wall Street, things got bustling. William White's three companies were quite the deal. Instead of saying they were at an A-round of financing, it was more like these three companies were going public.
The valuations of the gaming console and comic companies had already surpassed a billion, and although the software company had its share of controversies, it was also nearing that billion mark.
Honestly speaking, taking them to the NASDAQ wouldn't be difficult at all. Apple's first IPO wasn't at this level.
What William White was playing with was not so much financing as it was a batch auction. Each investment bank had a computer in front of them displaying real-time price changes and the availability of shares.
"Jerry, can you tell me what this is? How are these computers connecting data?"
"Can't, boss. Looks like just an Apple II. They added a data exchange card. I'm guessing they have a minicomputer. It's a huge leap forward."
"Darn, this setup is wasted being here. It should be in the trading market."
"It's probably not very mature. Those uniformed guys must be IT engineers."
Surprised? Didn't folks say I don't have any new software? Well, I admit the data exchange is pretty lousy and not ready for commercial use, but don't forget, I've got the patent.
The investment banks present today certainly had insight. It didn't matter if it wasn't commercially viable yet. If it were, could they still afford to buy it?
"Everyone, this indeed is a new system. Its connection isn't stable. Please don't touch the coils at the back. I can't restore them quickly."
"William, if everything goes smoothly, how long until it's ready for commercial use?" asked the big boss from Morgan Stanley.
"Hmm, if everything's smooth, it might take three years to bring it into the exchange. It's not just about technology; the exchange needs to cooperate too. For individual users, it'll take at least five years. It's very challenging. I think if it succeeds in ten, it's quite good."
William White wasn't bragging about the future. There was no need. If it couldn't deliver, it just couldn't.
Some things are like that: boast too much and it could backfire. The timeline now fits these old guys' expectations perfectly.
Then came the software demo. Surprisingly, it was so simple even a fool could use it. The whole explanation wrapped up in minutes. If you still didn't get it, there were plenty of staff to help.
"Jerry, this thing is way too convenient."
"Boss, probably everyone knows now. This software company won't come cheap."
"Ay, that sly guy. Is this a new product launch?"
"Boss, with the media and journalists around -- and your favorite mineral water on the table -- this was definitely planned."
"Ah, let's see how much we can grab!"
The game's rules were pretty fair, with each seat having a limit of 1.5% of shares. Raising the price deliberately wouldn't help, as the computer calculated the median price.
Below the bid, they were all dead. Above it, transactions were settled at the auction price.
With things at this level, the advance preparations by the older folks were all invalid. There wouldn't be any tug-of-war or haggling.
What if I bid and don't want to buy?
That's fine too. It counts as a failed bid, and you won't be held responsible.
Even though it sounded pretty nice, if you dared to mess around, that petty guy would definitely not give you another chance to cooperate.
Computers were highly efficient. Within five minutes, it was over. A quick estimate valued the comic company at 1.68 billion.
"Thank you all. After calculations, the highest bid was near 1.8 billion, and the lowest was 1.6 billion. Let's continue." The Japanese were going crazy, bidding 1.8 billion? If this were a regular auction, they'd be toast.
Thanks to showing progress on home gaming consoles before the meeting, the gaming company was valued at 1.9 billion dollars, which was jaw-dropping.
No matter what about that software company, today was a miracle moment. Raising hundreds of millions in one go was simply miraculous.
Even though there were many uncertainties about the software company, the Japanese hesitated this time, allowing Uncle Sam to scoop up most of the shares without a fuss.
White Software's final valuation exceeded 1.2 billion. Before this event, the most optimistic estimates were below a billion. The trading method indeed refreshed a lot of the bigwigs' perspectives.
Now, these guys were shareholders, so you had to treat them to dinner. Even if it was just a buffet, at least the food was decent.
When you attended a William White banquet, you wouldn't go hungry. This was an upper-class consensus. And when folks criticized him for being extravagant, the official explanation was boosting domestic demand.
Once people heard such a strong explanation, many didn't plan on reasoning with this guy anymore.
Because he'd quote historical examples, like what President Roosevelt did: half the people were digging holes, and half were filling them. It seemed wasteful, but it actually solved employment problems.
You all know I've made a lot of money, and letting that money sit in the bank is shameful. So, I splurged a bit, and that's a form of patriotism too.
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