Here's my thought about #startupep12

TW: suicide
not talking about any ship

Keyword: "READ THE CONTRACT!!", Yongsan's brother, demo day, "is it nitpicking or slapping the truth?"

bonus: epilogue scene

The title for this episode is "acqhire".
('Acqhire' is the verb form, 'Acquihire' is the noun form) I have talked about it on my thread about #startupep11 and you can read it here https://twitter.com/doubleten94/status/1330199915386064901?s=19

The episode started with the 3 members of Samsan Tech & Jipyeong. He told them that this is not an acquisition transaction, but an acquihire transaction.

If you still don't understand the difference between of those 2, here is an example.

Acquisition:

Instagram was independent, until Facebook bought IG for 1 billion USD for acquisition in 2012. Instagram app is now owned and operated by FB, while the staffs are mostly still recruited - depends on how the deal was made between them.

Acquihire:

2STO bought Samsan Tech for 3 billion KRW only for its talent (people, re: Dosan, Chulsan, Yongsan) not for the product (NoonGil).

If you are asking why acquihire transaction is common, here's why.

So, position yourself as Alex.

The headquarter give you budget 3 billion KRW for business transaction. Then you are interested with this startup company with high potential talents. 3 of them are the winner of CODA competition - which prove how good they are in coding

Your choice:
A) buy Samsan Tech for acquisition, means the staffs working for you, but you also operate NoonGil, a useful app for visual-impaired but unfortunately unprofitable.
B) buy Samsan Tech for acquihire, means the genius talents will work for you & NoonGil can be stopped.

I will leave the choice to you so I can move on from here.

Before the storm, Dalmi met Injae & one of her employee on the way to the office. Dalmi kinda wanted to show off her 'acquisition deal'.

Injae's employee congratulated Dalmi, but Injae herself did not. Injae said "because there is nothing to celebrate"

Dalmi took her words as jealousy, while Injae, who is definitely more experienced in business than Dalmi, said that as an advice.

And what Injae said is right: there is nothing to celebrate with the deal.

Alex came to Samsan Tech office to fire Dalmi & Saha. Only the trio San get to go to Silicon Valley to work at 2STO.

Hearing this, Dosan said what Alex is doing is a fraud, because his words are different with the written contract.

Words do have power, but when it comes to things related to money.. IT'S NO DOUBT DEPENDS on the written contract or agreement.

Samsan Tech is in despair of what they are facing now: disbandment. Only the OG Samsan get to go to Silicon Valley, while Dalmi & Saha are dismissed

Knowing Yongsan was the one who stop Jipyeong when he was about to help them, Dalmi & Dosan are dumbfounded. Asking why would he do that, he said "it's his nitpicking" - Dalmi snapped "he is our mentor!"

Yongsan, also snapped "he is mentor to you, but he: "

So, what actually happened to Yongsan's brother?

TW: suicide

Kim Dongsu is Yongsan's older brother. He dropped out of his graduate school and decided to join Sand Box and make his own startup in 2011.

He is CEO of Charging Partner.

The day was Sand Box Demo Day.

Demo Day is a showcase for startup companies to 'pitch' in front of future investors.

Pitch(ing) is an opportunity for startup companies to introduce & presentate their business idea in limited time.

Demo Day is like the moment you presentate your innovation & idea - and everyone (read: investors) is looking at you. And sure, you don't want to mess it up or even embarrass yourself in front of so many important people.

It was Charging Partner's turn to be on stage.

We don't know exactly what is his product, but judging from his company's name and Jipyeong's words, I assume his product is a powerbank, or just charging product for handphone.

Charging Partner's product is apparently only work for phones with removable battery.

Jipyeong said that in 2 years from 2011, companies will completely not use removable battery anymore. Means, Charging Partner's product is possibly being left out by people in upcoming 2 years.

Here comes Jipyeong's tricky question.

"Did you know 'companies will leave removable battery in 2 years' when you plan your product?"

If you answer Yes, you can't be a CEO bcs you are not updated with information.
If you answer No, you are doing a fraud.

Why is it a fraud?