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CH95 | DI
🕑 Added 2025-05-06 13:44:01 +0000 UTCAbout a week has passed since the press conference.
The Great White Shark remains silent.
“Isn’t it strange? You’d think they’d at least release a rebuttal…”
Dobby muttered nervously beside me.
During the conference, the Great White Shark failed to respond effectively to our bet.
However, enough time has passed since then that any flaws in our strategy should have been exposed by now.
Yet, there was no movement.
“Doesn’t it seem like they’re preparing some sort of ambush? Any guesses?”
“Well, maybe they’re sharpening a secret weapon?”
They must be preparing evidence to prove Whitmer’s incompetence.
The report that would ignite the “Bread War.”
In my previous life, I recall that report being released just before the shareholder meeting.
But now, it’s D-53 days.
They’re probably rushing things due to inadequate preparation, causing delays.
“Aren’t you worried?”
Not really.
Since I already know the nature of their secret weapon, I’ve prepared countermeasures.
All that’s left is to wait.
Of course, I wasn’t just idly waiting.
I’ve been keeping myself busy in the meantime.
I couldn’t afford to neglect other matters by focusing too much on the Great White Shark.
First, to maintain my presence within Goldman, I added another position to the informal fund investor list.
Additionally, I invested $100 million into a stock that surged 53.1% due to favorable clinical trial results, yielding a profit of about $50 million.
This time, the Unicorn pick also garnered a decent response.
While it didn’t result in a miracle like Genesis… well, that was an exceptional case to begin with.
In any case, the Unicorn is still holding strong.
David is also managing things well.
So now, what remains is…
Ding!
Right, it’s here.
The email I’ve been waiting for has arrived.
The sender is Max Donovan.
He’s the private investigator from Silicon Valley that I hired.
***
Previously, I requested the investigator to look into former employees who had left Theranos.
Although he confidently claimed he’d have results within three days, he later asked for additional time.
I wondered if there was a problem, and sure enough…
<Ted Erikson (58), passed away from cancer three months ago.>
The person I was searching for had already passed away.
It was disappointing news.
If my assumptions were correct, Erikson was the one who hired the investigator to dig into Theranos.
A former employee proactive enough to take such action would have been a strong candidate for a whistleblower…
It was regrettable, but there was nothing I could do about the past.
So I carefully reviewed the provided materials, which summarized as follows:
Erikson was the head of Theranos’ product development team and led the development of core technology.
However, he was abruptly dismissed a year ago, only to be rehired days later.
Not as a department head, but as a mere technical advisor.
It was evident at first glance.
“It’s a kind of demotion, isn’t it?”
Following that, Erikson suffered from severe depression, and amidst this, his previously treated colon cancer relapsed, leading to his death.
Upon closely examining the report, it turned out that the initial request to investigate Theranos came from Erikson’s wife.
She suspected that something major had happened at her husband’s company.
Erikson was the head of the technology development team.
There must have been technical conflicts…
“No specific evidence, though.”
From the report, it seemed his wife was unaware of the nature of those conflicts.
Her husband had labeled everything related to Theranos as “confidential” and kept silent.
Even if I met her in person, it would likely be difficult to obtain evidence.
However…
Another lead came to mind.
A particular phrase kept lingering in my head as I read the report.
It was something Emily had said.
— The company does unethical things, and if you point them out, the superiors bully you. At least dozens of people have quit because they couldn’t endure it…
Emily had mentioned workplace harassment.
If that’s the case, Erikson might have been one of the victims.
Considering Vice President Sharma’s personality, whom I met last time, and the content of the report… it wouldn’t be surprising if the harassment had been severe.
“This could potentially… be Theranos’ critical weakness.”
Compared to their tightly secured technological secrets, this would be easier to gather evidence for.
Prompted by the thought, I immediately called Emily.
“Have you gotten it repaired yet?”
Since we’d exchanged playful texts a few times by now, it had become routine to occasionally call and nag about the repairs.
[Not yet. This month’s been too hectic, so I’m thinking of doing it next month. It’s just a small scratch anyway…]
“If you keep delaying it, you might forget, and the reimbursement could go down the drain.”
[That’s unlikely, don’t you think? Besides, I’ve never met someone so eager to settle a debt as you are.]
After some light small talk, I got to the point.
“By the way, has your friend consulted with a lawyer?”
[Ah… not yet. They said they need a little more time to think about it.]
“I figured as much. I was the same way.”
“If they are serious about pursuing legal action, it’s best to consult a lawyer as soon as possible. If they wait until just before resigning, there might not be enough time.”
[Not enough time?]
“For gathering evidence. Especially if workplace harassment is involved, tell them to start collecting documentation now. Later, relying solely on memory might make it difficult for their testimony to be accepted as evidence.”
[Oh…]
“They should record who said what, when, and where. Keeping a journal is good. Objective evidence like videos or recordings would be even better.”
After ending the call, I was returning to the office when Dobby urgently called out to me.
“Sean! The Great White Shark! They’re on the news again!”
***
Breaking their week-long silence, the Great White Shark made an unexpected move.
They appeared on a financial news program and said:
[At the time, I was short-sighted. I now agree that transitioning Epicura to fast casual dining is the most necessary move.]
[Do you mean to say that Epicura can truly become the next Chipotle?]
[It’s entirely possible.]
To everyone’s surprise, the Great White Shark supported our bet.
[The restaurant industry undergoes significant changes periodically. While it’s hard to say whether this will disrupt the market entirely, opportunities always arise at the beginning of a new cycle. Seizing this moment is crucial. In that sense, Double Crab House is undoubtedly a golden opportunity. Just as Chipotle reinterpreted Mexican cuisine, we can offer an exotic menu with Creole dishes…]
They didn’t stop there. The Great White Shark went on to claim that the brand we acquired could genuinely become a market leader.
[So, does this mean you are withdrawing your board nominations?]
[No, we’re maintaining our 12 nominations.]
[But didn’t you just agree with Whitmer’s strategy?]
[Even the best strategy will fail without the right people to execute it. The fact that the current management allowed things to deteriorate this badly despite such an excellent idea is proof of their incompetence. What matters isn’t the idea but the ability to execute it. And we are confident that we are the right team to carry out this plan flawlessly.]
While acknowledging Whitmer’s strategy, the Great White Shark repeatedly emphasized their distrust in him and the need for a board overhaul.
‘This… is unexpected.’
It was a move I hadn’t anticipated.
I naturally assumed they would attack the bet itself.
But no, they were trying to steal our entire strategy.
The Great White Shark’s argument was that the bet should continue, but Shark Capital should be the one leading it.
[If our board takes the helm, we are confident the stock price will rise to $80 within the year.]
[That’s nearly a 70% increase, isn’t it?]
[It’s not a difficult task. The most critical aspect of mergers and acquisitions is operational efficiency. Simply eliminating redundant resources and waste can significantly boost corporate value. And this is our specialty.]
The Great White Shark made another bold promise.
They claimed that if they led the new brand, they could raise the stock price to $80 by the end of the year.
The market responded immediately.
Shortly after their statement, various financial programs began showcasing their impressive track record.
[Shark Capital excels at corporate restructuring. Their expertise in improving operational efficiency is unmatched. Just two years ago, during the Calgon acquisition, they raised the EBITDA margin from 15% to 20%.]
[And with Mayfield, they took a company valued at $20 per share and sold it for $34 within a year after significant improvements.]
[So, do you believe Epicura could rebound under Shark Capital’s leadership?]
[Absolutely. The question isn’t whether it will rise but how much it will rise.]
The perception that “if the Great White Shark takes over, success is possible” boosted Epicura’s stock price by a whopping 20%.
Considering that Whitmer’s press conference only resulted in a 5% rise, this showed that people trusted the Great White Shark more than us.
Meanwhile, our campaign strategist brought us some news.
[Institutions are suggesting collaboration with Shark Capital. They propose splitting the board seats evenly to leverage each other’s expertise…]
The suggestion to split the board implied hesitation to fully commit to either side.
However, if forced to choose, they would likely favor the “expertise” of the Great White Shark.
On the other hand, individual investors overwhelmingly supported the Great White Shark.
— They’re saying Shark can create the next Chipotle, right?
— Doesn’t their side seem way more promising?
— I told you, they even turned Office Depot into a hit, raising its brand value by 140% in one year!
The media’s repeated emphasis on the Great White Shark’s experience resonated effectively.
As a result, dark clouds loomed over the faces of Goldman’s team members.
“What thick-skinned nerve.”
Jeff, in particular, looked grim.
“They called it a reckless gamble in front of the entire nation, and now they’re claiming they’re the perfect team to execute it?”
“It’s shameless. They’re just snatching up an idea someone else worked hard to develop!”
Everyone criticized Shark Capital’s cunning audacity before turning their eyes to me.
“Aren’t you upset? This is your idea! They’re stealing it and saying they’ll execute it themselves.”
I shrugged.
“Strictly speaking, Slater hasn’t done anything wrong. He acknowledged the strategy came from Whitmer’s side.”
“But still…!”
“There’s an old saying where I come from: ‘If the price is the same, choose the prettier skirt.’”
And that’s precisely what the Great White Shark did.
We raised the stakes, claiming the new brand could become the “Apple of the restaurant industry.”
In response, the Great White Shark echoed the same argument and offered an identical price.
When the price is the same, shareholders naturally prefer the prettier skirt.
Between Epicura, which has struggled with poor performance for two years and sold off its flagship brand, and Shark Capital, which has successfully restructured numerous companies in the same period…
Who do you think the shareholders would vote for?
“So, what’s the best way to respond?”
Jeff sought my opinion.
With Pierce and Whitmer away persuading major shareholders, Jeff was in charge of leading the strategy meeting in the office.
He seemed to expect a clever move from me.
“We’ll pay them back in kind.”
“In kind? What do you mean?”
“An opportunity will come. Let’s wait for it.”
Although I said that, the opportunity came sooner than I expected.
That evening, the news I had been waiting for arrived.
<Toscano Garden Revival>
The Great White Shark released a report to the public.
The very report I had been eagerly anticipating.
