InkBound
patreon
CH100 | DI
🕑 Added 2025-05-06 13:44:38 +0000 UTCDex Slater appeared in a program called ‘Capital Insight’.
Although it was a relatively unknown show, there was one reason why White Shark chose it.
It was the quickest platform to schedule an appearance.
And there, he once again raised suspicions about Epicura.
[For years, I’ve been claiming that there’s a hidden secret behind the sale of Harbor Lobster!]
[Oh, are you referring to that story? You once provided an interesting analogy for it.]
[Yes. I likened it to a building manager hiding what’s inside and hurriedly selling the building at a low price.]
[But hasn’t the truth of the sale already been revealed? According to the CEO, it was to raise funds for acquiring a new brand…]
[Is that really the case?]
A faint smile appeared on White Shark’s lips.
[What if it’s the opposite?]
[The opposite?]
[What if the sale wasn’t for the acquisition but was out of desperation, and the acquisition story was just a cover-up?]
[Are you saying that explanation itself is a kind of smokescreen?]
White Shark nodded and continued.
[We’ve obtained evidence. May we reveal it?]
The host’s face briefly showed signs of bewilderment at his unexpected suggestion.
[It’s difficult for you to bring this up now. We haven’t had the time to verify it…]
Typically, any material broadcasted was thoroughly verified in advance by the network.
However, White Shark insisted on bypassing this process and revealing it live.
Waiting for verification would take several days.
There were less than 20 days left until the shareholders’ meeting.
He didn’t have the luxury of waiting.
Off-camera, a PM accompanying White Shark stood by with a USB drive.
The producer approached the PM, seemingly discussing whether to broadcast the material.
Yet, White Shark was confident.
‘They wouldn’t dare refuse to reveal it after coming this far.’
Stimulating curiosity without revealing the content? That would undoubtedly provoke outrage among viewers.
Moreover, if this network refused to air the material, other broadcasters might seize the opportunity to invite White Shark.
After a moment’s hesitation, the host received instructions through their earpiece and made a decision.
[We must inform you that the material being shown has not been verified by the network and is solely provided by Shark Capital.]
After a disclaimer and subtitles, the screen changed.
What appeared on the screen was a satellite image.
It showed a building situated in a quiet suburban area.
[This is a satellite image of the Double Crab House headquarters.]
In the hedge fund industry, satellite images were invaluable sources of information.
They could predict crop yields, estimate factory production, and even assess store sales trends by counting parked cars.
The satellite images used by hedge funds were far superior to those available to the public.
While standard satellite images showed 15-meter pixels, their images had ultra-high resolution, with pixels as small as 30 centimeters.
Moreover, the images were updated frequently, providing near real-time information.
[As you can see, there are usually very few external visitors…]
Images taken on various dates quickly flashed across the screen and then paused.
One image showed black vehicles densely coming and going.
[Since a few months ago, frequent entries of town cars have been captured. These are presumed to be visitors related to the acquisition.]
During mergers and acquisitions, various individuals visit the site.
High-ranking executives, investment bankers, legal teams conducting due diligence, and various experts inspecting the facilities.
They typically used black rental cars.
[An investigation of local rental car companies revealed that visitors on those dates were all affiliated with Goldman and Epicura. But look at the dates.]
White Shark pointed to the date in the upper left corner to support his claim.
[Such activities have been observed since March. We went back as far as 2013, but there were no prior signs of such visits. These images show that the acquisition activities at Double Crab House began in earnest in March.
However… the Epicura board approved the sale of Harbor Lobster in September of the previous year.]
[Hmm, there’s quite a time gap.]
[What’s more important is the fact that the sale was initiated first, and the acquisition was pursued afterward. Whitmer claimed it was a ‘sale for acquisition funds,’ but that timeline doesn’t align with what’s shown in the images.]
The host, wearing a serious expression, spoke again.
[But this alone isn’t conclusive evidence. The acquisition team might not have used rental cars, or perhaps Double Crab House representatives visited Epicura instead.]
[You’re right. This isn’t definitive proof. However, amidst these suspicious circumstances, we recently received an anonymous tip. May we disclose it?]
Soon, a copy of a report appeared on the screen.
It contained the content of an email received by Shark Capital.
[The report indicates that Epicura investigated the dining habits of African-American customers. Not other ethnic groups—just African-Americans.]
[That’s strange. Why focus on a specific ethnicity…?]
[For those familiar with Harbor Lobster, you’ll know that their primary customer base is African-American.]
The host’s face grew increasingly stiff.
The unexpected emergence of the term “race” made the situation even more sensitive.
In America, the topic of race is one that must be handled with utmost care.
White Shark continued, speaking slowly but with conviction.
[Recently, systemic discrimination against African-Americans has become a major societal issue. In particular, economic discrimination is increasingly coming under scrutiny.]
As the racial topic became the focus, the host’s expression turned graver.
However, White Shark pressed on without hesitation.
[Many companies have been criticized for withdrawing from African-American communities or reducing investments, citing a lack of profitability. This includes telecom companies, banks, major retailers, and even healthcare providers. As a result, African-American customers face limited access to the internet, banking services, shopping, and medical care.]
After listing the inequalities faced by African-Americans, White Shark got to the main point.
[We suspect that Epicura essentially withdrew from Harbor Lobster for similar reasons.]
[Similar reasons… meaning, they withdrew from areas with African-American consumers?]
[Exactly. And they did it in a calculated and deliberate manner. By analyzing the profitability of their African-American customers and deciding the business wasn’t viable, they chose to cut ties. While this may not have been a physical withdrawal, selling the brand essentially amounts to the same thing.]
[That’s… a very serious accusation.]
The host’s face hardened further.
At this point, racial discrimination was an especially sensitive and delicate topic to approach.
The idea that a corporation had sold off its brand to exclude a specific customer group for racial reasons?
Such a revelation would socially ruin the mentioned company.
White Shark nodded and spoke cautiously.
[Yes, it’s a risky assumption to make without solid evidence. However, the anonymous whistleblower who provided us with this material has raised these suspicions.]
After dropping a bombshell accusation, he skillfully took a step back.
It was as if he was merely relaying the whistleblower’s words.
[Of course, we can’t confirm whether this information is true or whether the source is reliable. There’s also the possibility that it was maliciously fabricated. When we tried to trace the whistleblower’s identity, their anonymity made it impossible. And when we asked the company that issued the report for confirmation, they refused, citing client confidentiality.]
White Shark then enumerated the efforts they made to verify the information.
By doing so, he portrayed himself as objective and careful in approaching the data.
This was his way of navigating the pitfalls.
Rather than outright claiming the material was true or evidence of wrongdoing, he simply raised questions.
Instead of asserting conclusions from uncertain evidence, he left question marks for the audience to ponder.
However, the host saw through this tactic. He eyed White Shark with suspicion.
[Even spreading unverified information in this manner can cause irreparable harm to the other party. Isn’t that your intention?]
Handling such accusations recklessly could also bring criticism of irresponsibility upon the network.
Thus, the host had a duty to approach the situation as impartially as possible.
[Are you merely trying to spread suspicions while avoiding responsibility?]
[It’s natural to think that way. After all, this revelation does benefit me.]
When criticized, White Shark readily admitted his vested interest.
However, he then changed his expression and spoke in a firm tone.
[But I am not standing here as a hedge fund manager. I came forward with this material as a shareholder. And as a shareholder, there’s only one thing I want to know: the truth.]
Attempting to ruin someone with uncertain information?
That would undoubtedly be an act deserving criticism.
However, if there was justification, the narrative changed.
[If, by any chance, this suspicion is true, this is not just a matter of management strategy. It’s a violation of corporate ethics and social responsibility. Investors have a right to know this. No, consumers have a right to know as well.]
This was White Shark’s justification:
The shareholders’ right to know.
The public’s right to know.
[Moreover, if the company conducted the acquisition to cover up the sale and distorted the real reason, this is a grave deception against shareholders. Such a matter cannot be overlooked.]
[But what if none of this turns out to be true?]
[That’s true. That’s why I came on this broadcast. Since this could potentially infringe on the rights of all shareholders, the truth must be revealed. But this isn’t something I can uncover myself. The party that knows the truth best is undoubtedly Epicura.]
White Shark then looked straight into the camera and said:
[I urge Epicura to issue an official statement. Is this material true, or is it false?]
This was White Shark’s real strategy.
[If everything is aboveboard, you can simply say so. In fact, as a shareholder, I’m hoping for that outcome.]
Raise suspicion and provoke a reaction from Epicura.
Shift the burden of proof to them.
What if the material turned out to be false?
White Shark could offer a small apology and redirect the blame toward the anonymous whistleblower, criticizing them for their irresponsible actions.
But if the material turned out to be true?
Epicura would try to defend itself.
They would struggle to cover up the truth, inevitably committing more mistakes in the process.
A cover-up is more dangerous than the crime itself.
White Shark intended to lure Epicura into attempting concealment and apply relentless pressure the moment they faltered.
[If Epicura is indeed innocent, and this is nothing more than false information, and if my publicizing it caused harm, I will take full responsibility.]
[What do you mean by responsibility…?]
[I will issue an official apology and withdraw my nomination for the board. Moreover, I am prepared to face any legal consequences.]
But that would never happen.
The circumstances made it clear that Epicura was far from innocent.
Even if they stubbornly claimed innocence and accused White Shark of spreading falsehoods, that wouldn’t be a bad outcome either.
Legal disputes would require evidence to be presented.
In that scenario, Epicura would have no choice but to reveal the evidence they had been hiding.
[I will wait for Epicura’s response.]
And with that, White Shark dropped the bomb and concluded the broadcast.
Watching the show on TV, Ha Si-heon smiled quietly.
The shark had taken the bait.
Now, the real nationwide stage was set to unfold.
This would be a stage with firepower far beyond the scale of an unlimited bread supply.
