Chapter 143: Smoked Herring (1)
Mid-1996.
At last, when the Federal Reserve lowered its benchmark interest rate to 5.25%, the bubble began to take on a bizarre heat.
[Dotcom Founders Become Billionaires in Their 20s]
[Pets.com Receives $100 Million Investment from Disney... Half Spent on Advertising]
Seo Ji-yeon’s office saw IPO proposals piling up like mountains day after day. Most were absurd beyond belief—but a few held surprisingly plausible business models.
“Hm... Pets.com?”
“Oh, this one? It’s an online pet supplies retailer... Honestly, I don’t really get it. But the market’s buzzing, so I invested in it anyway. Umm... Is that okay?”
I skimmed through the materials she brought, letting out a chuckle. The sock puppet mascot was cute, sure—but whether it could make money was another matter.
But that wasn’t the point.
“What’s the expected return on the first day of listing?”
Ahem.
Seo Ji-yeon cleared her throat and responded seriously. Maybe she had to say it that way—because the number was so absurd it needed some gravitas just to sound sane.