Chapter 80. Crisis is an Opportunity (3)

This was a declaration that he would not sell the hydrogen energy business but entrust it to He Minxiong. He Minhong was about to say something but closed his mouth upon seeing his father's expression.

Once the chairman made his decision after careful consideration, no further objections were raised.

Chairman He Seonghun stood up and said, "Team Leader He Minxiong, come to my office later."

"Understood."

The executives also stood up, each with a complicated expression on their face.

Seeing this, He Minhong felt a mix of emotions.

He Minhong was the one who first met the CEO of Bread Button, formed a partnership, and initiated the hydrogen infrastructure business.

He planned to take credit if it succeeded and blame his younger brother if it failed.

Now that it had failed, he had to blame his younger brother... but his younger brother had foreseen the problem and avoided the risk, while he had not. In the end, he was the one who had to bear the responsibility.

Until recently, the succession structure of Huaan Group was relatively clear.

The eldest son, He Minhong, would inherit the group, and He Minxiong would take his fair share and leave the group.

No one thought that the younger brother would surpass the elder and inherit the group.

However, through this incident, He Minxiong had firmly established his presence.

From now on, the executives would constantly compare the two, weighing the advantages of siding with either of them.

Once everyone left, the spacious meeting room was left with only the two brothers.

He Minhong looked at his younger brother and said, "You must have met David Lockhart in person."

He said he had doubts after reading the public report, but it was unlikely that he had figured it out just from that.

He must have met someone beforehand and received other information, which allowed him to make such a quick decision.

'He must have teamed up with Continuum Capital beforehand.'

Given his younger brother's personality, he wouldn't have talked to just anyone. Therefore, He Minhong thought he must have met David Lockhart in person.

He Minxiong smiled.

The key to Continuum Capital is not David Lockhart. There is a much more important person behind him.

'But there's no need to tell him that.'

He stood up and said, "Think whatever you want."

* * *

With the matter settled, the three employees decided to return to New York first.

I said to Morris Pearson, "Find a suitable office in Manhattan and set it up."

"Understood."

Then I called Edward Benson aside.

"You really went through a lot this time."

"No, it was a good experience for me."

The scene of him jumping onto the stage and forcibly lifting the hood was broadcast as news worldwide.

That scene became famous on many internet sites, and he even earned the nickname 'Hoodman.' You can still find the video with a simple search.

"How are people reacting around you?"

Edward touched his bald head and said, "Everyone finds it amusing. My family thought I had caused trouble again and contacted me."

Thomas Motors threatened to sue for obstruction of business, but it only invited ridicule.

How could they sue someone when they themselves were about to be sued?

"Still, it's impressive that you can tear off a hood with your bare hands. I find it hard to lift a car hood."

"It's not difficult if you know the trick. Of course, strength is needed, though."

I nodded, looking at his arm. His bicep was as thick as my thigh.

"Where did you learn that trick?"

He grinned.

"Actually, I practiced a bit at a junkyard before the event. After tearing off a few truck hoods, I got a rough idea of how to do it."

"Ha ha ha!"

I burst out laughing at his words.

I thought he had just used brute force, but he had practiced in advance. As expected, he is thorough.

In large private equity funds, work is done in teams.

If I hadn't hired him, David Lockhart would have formed his own team at Shark Management to handle everything from deal sourcing to exit.

In that team, Edward Benson was the most important person.

He may seem like someone who just uses his strength, but in reality, he is smarter and more strategic than anyone else, serving as David Lockhart's right-hand man.

He is particularly skilled in financial accounting, managing the team's finances and accurately uncovering the cash flow and accounting irregularities of target companies.

He would have made an excellent CFO for a large company.

By hiring David Lockhart, I gained such a talented person.

"Before going to New York, stop by Michigan for a bit."

"Why?"

"There's something you need to do there."

"What is it?"

After hearing my explanation, he asked curiously.

"Can I ask why?"

I explained the reason.

"Just because a specific company has problems doesn't mean the entire industry does. On the contrary, this is a golden opportunity to buy good companies at a low price."

Edward looked at me with surprise.

"Why are you surprised?"

"I was surprised. When others are withdrawing their investments, you're willing to invest. It's easy to say, but few can actually do it."

All thanks to knowing the future.

"Can I ask you to do it?"

He nodded.

"Of course."

* * *

Thompson Daly.

He worked as a hydrogen car development researcher for a global automobile company. Initially, electric cars and hydrogen cars were seen as competitors, but at some point, electric cars became the mainstream.

Both hydrogen cars and electric cars use electricity to power the motor, but while electric cars only need batteries, hydrogen cars require fuel cell stacks and high-pressure hydrogen tanks.

This requires more advanced technology, is more expensive, and takes up more space.

Therefore, in the passenger car market, electric cars were clearly more advantageous.

The hydrogen car development department was disbanded, and Thompson moved to the electric car development department.

For internal combustion engine vehicles, the number of parts is high and advanced technology is required. In the past, only large corporations with the ability to make large investments and employ many people could enter the market.

However, electric cars are different.

If internal combustion engine vehicles are mechanical, electric cars are closer to electronic devices. The number of parts is less than one-tenth of that of internal combustion engine vehicles, and it is easy to standardize components such as batteries and motors.

With low entry barriers, electric car startups sprang up like mushrooms. Some even used 3D printers to manufacture electric cars.

'While electric car startups are abundant, there are almost no hydrogen car startups.'

The reason is obvious: electric cars have taken the lead. However, there are still some unresolved issues.

Electric cars have fewer parts than internal combustion engine vehicles and do not have the heaviest part, the engine. So, are electric cars lighter than internal combustion engine vehicles?

No, they are not.

In fact, they are heavier. For the same size, electric cars are about 15% heavier than internal combustion engine vehicles.

The reason is the weight of the battery.

Batteries have a low energy storage density, and their weight does not decrease even when the stored energy is used up.

'To increase the range of electric cars, you need to add more batteries. This increases the price and weight and reduces the cargo capacity. Charging time also becomes longer.'

On the other hand, for hydrogen cars, you just need to make the hydrogen tank larger.

In other words, the more the range increases, the more the economic efficiency of hydrogen cars surpasses that of electric cars.

'If we can standardize components such as fuel cell stacks and high-pressure hydrogen tanks to lower the price, can we popularize hydrogen cars?'

Seeing this opportunity, Thompson left the automobile company and founded Nextrogen with his fellow researchers.

It was a company that developed fuel cell stacks and catalysts, the core technologies of hydrogen cars. Instead of producing cars directly, they planned to create a hydrogen car platform for various automobile companies to sell.

His prediction was accurate.

Daelyeon Motors launched a hydrogen truck, and Thomas Motors gained attention, leading to a surge in interest in hydrogen cars.

Investment firms lined up to invest. Among them, the most proactive was Shark Management.

It was a private equity fund led by Michael Preston.

He first acquired 51% of the shares and announced plans to fully acquire the company later by securing a call option.

Since they were still in the prototype development stage, it was unclear how long it would take to generate profits.

With the support of a large private equity fund, they could focus on development without worrying about funding. Therefore, Thompson was willing to accept the investment.

However, just before the investment was finalized, the Thomas Motors incident broke out.

Thomas Motors was a leading player in the hydrogen car industry.

When it was revealed to be a fraudulent company, the perception that hydrogen cars lacked commercial viability spread.

So-called experts, who had been talking about the imminent arrival of the hydrogen car era just a few days ago, suddenly changed their tune and said that hydrogen cars would be difficult for a while.

Who would invest in hydrogen cars in such a situation?

Shark Management canceled the investment just before it was finalized, and inquiries from other investors also stopped.

The problem was that they had increased equipment investment and employment, assuming they would receive the investment. Without the investment funds, they were on the verge of closing the company.

Thompson held his head in his hands and muttered, "Now everything is over."

In this desperate situation, someone came to see him.

It was a muscular black man in his thirties.

"Hello, I'm Edward Benson from Continuum Capital."

"Continuum Capital? You don't mean..."

Thompson looked at him closely and was surprised.

'It's the Hoodman!'

He was the one who lifted the hood at the Thomas Motors event. Immediately after, Thomas Motors' stock price plummeted, and investments in Nextrogen were cut off.

"What, what brings you here?"

The Hoodman (??) said something unexpected.

"I want to acquire your company."

"Us?"

"Yes. I plan to invest $100 million in the first round."

"..."

* * *

Once everyone left, it was just the two of us again.

I looked at David and said, "You look much better than when we first met."

"What did I look like when we first met?"

"Like you were carrying all the worries and concerns of the world."

David smiled bitterly.

"That's how I felt back then."

The company he worked for went bankrupt, and he was branded a loser. Unable to find a new job, his debts kept piling up.

But now, the situation had completely changed.

He was currently the most famous investor in the United States. After all, his report had brought down Thomas Motors, the hottest company in the stock market.

All media outlets wanted to interview him, and wealthy investors contacted him, eager to invest.

"You're not going to leave just because you've become popular, are you?"

He smiled and said, "Would you let me go if I did?"

"I wouldn't."

David looked at me and asked, "What do you plan to do now?"

"Do what I intended to do."

Thomas Motors was just a means. The real goal is something else.

David nodded.

"You mean the acquisition of CoolCloud."