The long-awaited Apple Car launch day.
The launch occurred simultaneously worldwide, but due to time zones, sales began first in Asia.
On the large monitor in the chairman's office, real-time updates of sales by country were displayed.
The head of planning had gathered various pieces of information and reported them to me.
"Currently, the countries that have started sales are South Korea, China, Taiwan, and Japan."
"China's sales are overwhelmingly high, as expected."
"That's partly due to their large population, but also because the Chinese government led the electric vehicle infrastructure development project."
Given China's population, high sales were not surprising.
In fact, relative to population, more Apple Cars were being sold in South Korea.
"So far, all reservation holders up to number 100 have completed their purchases."
"It's remarkable that there's not a single ghost reservation."
"There are no ghost reservations in South Korea and China, but in Japan, quite a few customers are canceling their reservations."
Japan was a notoriously closed market.
Even products representing Korea, like smartphones and cars, rarely sold well there. Bold attempts to enter the market often ended in retreat.
"Since we started by excluding the Japanese market from the beginning, even this level of sales there can be considered a miracle."
"Japan also has the fewest EV charging stations. To buy an Apple Car, customers need to spend at least an additional 4 million won to purchase a charger."
"Well, if sales increase in Japan, we'll start infrastructure development. But is it really necessary already? The Japanese government also seems largely uninterested in EV infrastructure, so there's no reason for us to take the lead."
Japan was indisputably the top country in the automotive industry.
It had the highest automobile sales, and even three companies ranked within the top ten globally.
So, there was absolutely no reason to promote the EV market at the expense of domestic car manufacturers.
"I do feel it's a bit of a shame to give up on the Japanese market."
"There's nothing we can do. If they insist on isolating themselves like the Galapagos, what can we do? Besides, the market isn't attractive enough for us to push aggressively either."
"I've heard that current automobile groups are almost abandoning the Japanese market as well."
"At least the Apple Car, with its Apple logo, is selling as well as it is."
The first report ended like this.
The head of planning would report every three hours.
Each time, the sales continued to rise, far exceeding our expectations.
About thirteen hours in, the sales graph began to climb sharply.
"Sales have begun in North America. Since we were prepared in advance, we were able to start selling quickly."
"The DMVs in the United States must be swamped."
"Of course, because vehicle registration is handled by the Department of Motor Vehicles, crowds are inevitable. The problem is that, unlike in Korea, US DMVs have a reputation for being slow."
"Well, that's not really something we can worry about."
We couldn't exactly improve the US registration process.
Our focus was simply on making excellent cars and ensuring the related infrastructure was in place.
"If sales continue at this rate, we could sell over 100,000 units in a week. Even if sales slow slightly, we could surpass 100,000 units within two weeks."
"So the inventory we've built up will be gone within two weeks."
"I've already issued instructions for additional production. All car factories in Korea, China, and the US will operate 24/7. Some GM factories are also ready to start producing Apple Cars."
For every business, net profit was crucial.
For the Apple Car, each unit sold brought a net profit of about $15,000.
Assuming 100,000 units sold in two weeks, that would yield $1.5 billion in net profit.
Of course, this had to account for infrastructure investment.
Even factoring in the initial investment, it was still a negative at first, but within one to two years, we would recoup the cost and have a substantial net profit remaining.
Furthermore, it was overwhelmingly more profitable than internal combustion engine cars.
ICE cars only brought a net profit of about $5,000 per unit—three times less.
On top of that, since we produced all the batteries in-house, the profit margin was even larger.
"It seems that customers with strong loyalty to Apple are purchasing heavily at the beginning. Over time, sales may drop significantly. Make sure to continue releasing other electric vehicles besides the Apple Car."
"Starting from mid-next year, we'll launch a lineup of compact cars, trucks, and mid-sized sedans."
"Now that the electric vehicle infrastructure is in place, demand for other types of electric vehicles will also grow."
Once the infrastructure was properly established, there was no reason not to buy an electric vehicle.
Fuel costs were much lower than internal combustion vehicles, and with tax benefits and subsidies, the entry barriers for EVs had effectively disappeared.
"Let's conclude the Apple Car report for today. Bring in Han Jung-hoon from Taewoo Securities."
"He's already waiting outside."
The head of planning handed over the briefing to the company president.
Just by looking at the face of the president entering the office, I could gauge the situation.
"So Tesla's response has been quite good as well?"
"I was concerned that releasing it on the same day as the Apple Car might overshadow it, but instead, it created a synergy effect, and sales have been strong."
"What's the projected monthly sales?"
"At a minimum, over 5,000 units. Annual sales are estimated to exceed 50,000 units as well."
A very impressive performance.
Thanks to Apple's brand power and our global factories, we were able to flood the market with early units.
For Tesla, which lacked many of our advantages, selling 50,000 electric vehicles in a year was an unexpectedly strong result.
"The short sellers are probably breaking a sweat now."
"Still, there's a silver lining. Even with 50,000 units sold, the deficit would be around $900 million."
"It's rare for a startup to turn a profit right from the start. Individual investors are fully aware of that as well. No matter how much the short-selling forces talk, most will just hear it and move on."
The value of a company is weighted more toward the future than the present.
Even if Tesla sold 50,000 units this year and recorded a $900 million deficit, it didn't matter.
Stocks were all about expectations. As long as investors could be convinced that more cars would be sold in the future and higher profits could be achieved, individual investors would choose the stock.
"Stocks, once they catch a wind, are unstoppable. No matter how much short sellers present scientific reasoning or objective data, they can't halt a stock that's riding the wind."
"So we just need to give Tesla's stock a little push onto that wind."
"We don't even need to intervene directly. The Saudi sovereign wealth fund is already in motion."
President Han opened the Tesla stock chart.
The price had surged immediately upon release, with most shares being bought by the Saudi sovereign wealth fund.
"Relying on the Saudi fund alone isn't enough."
"I'll contact our fintech bank. We'll also purchase shares through the paper companies we control."
"You can use Taewoo Securities' funds too. The more places showing activity in Tesla stock, the more it will drive individual investors into a frenzy."
"Is it alright for Taewoo Securities to move? It could be interpreted as a decision endorsed by the chairman himself."
After all, Taewoo Securities was a subsidiary of Taewoo Group.
Without my approval, they could not make such a large-scale move independently. Naturally, outsiders would perceive it as if I personally decided to purchase Tesla shares.
"Taewoo Securities needs to make a move so that other investment firms on Wall Street follow suit."
"Even if others hesitate, I'm confident that Quantum Fund will act for sure."
The moment Taewoo Securities began buying Tesla shares, Quantum Fund would inevitably follow.
George, the head of Quantum Fund, monitored my actions around the clock.
He would follow any stock I invested in without fail. I might have failed once or twice, but my track record was 100%, making it almost certain that he would move this time as well.
"If Quantum Fund moves as well, the short sellers will flinch."
"Even if they flinch and take losses mid-way, they can limit damage by liquidating. But if they follow through to the end, they'll be plunged to the very depths of ruin."
Tesla had already proven its value through sales.
Sure, the numbers might seem small to established automakers, but in the new electric vehicle market they were highly significant.
Now only the short sellers had a choice.
Would they fold here to minimize losses, or hold on to the bomb until it detonated and destroy themselves?
***
Quantum Fund had a dedicated team.
The Taewoo Group management team.
Composed of eight elite members, their sole task was to monitor Taewoo Group—more precisely, Kim Minjae's every move.
"Sir! Taewoo Securities has started buying Tesla stock."
"So Kim has finally made a move. He's not one to leave such a good setup untouched."
"Are you going to act as well, sir?"
"Of course I will, now that Kim has moved. Do you know what I've learned from observing him for nearly ten years?"
"His ability to time investments perfectly?"
"His investing skill is superb, yes, but more importantly, he knows how to crush the opposing forces. And in this short-selling scenario, he's chosen Tesla as his ally. The short sellers will suffer their worst losses if they don't retreat now."
George, the representative, said this with a sly smile.
He continued, as if he still had more to add.
"And Kim never eats alone. He knows how to share good food with his allies. Of course, he'll take the best parts for himself."
"Isn't it the same with the short sellers? If we side with them and win, we could reap even more rewards."
"Tsk tsk, it's also a chance to crush our competition. If we wipe out the short sellers completely, we can claim the whole pie for ourselves."
On Wall Street, everyone was a competitor.
And it wasn't just the Saudi sovereign fund that wanted to crush the king of short sellers.
Quantum Fund, with a longer history in Wall Street, wanted even more to trample him.
"Then we'll start buying Tesla stock."
"Just buying isn't enough. The king of short sellers is playing the media hard. To silence him, I'll need to step in myself."
"Sir, you plan to do a media interview yourself?"
"What's so difficult about saying a few words publicly? Schedule the interview."
A man who had beaten nations in investment, a devil who could move exchange rates with a single word—George was preparing a media campaign for Tesla.