The sun shone brightly on September 1st. It was Wen Tianhe’s first day as CEO, but it was also the day the company went bankrupt.
The story began three and a half hours ago, when Tianhe bid farewell to his elder brother, Wen Tianyue, at the airport.
With tears in his eyes, his elder brother sincerely said to his younger brother, “Baobao, I’ll be back in a month at most. During this time, I entrust the company to you.”
Wen Tianhe frowned and responded unhappily, “Don’t call me by my pet name at the airport. Don’t worry, I can handle it. Take good care of yourself in Silicon Valley, and please help me get Mark Zuckerberg’s autograph. I really admire him.”
“You should come over when I’m settled. I’ll arrange lunch at Saison and maybe invite Steve Jobs while I’m at it.”
“Steve Jobs is dead,” Wen Tianhe said expressionlessly.
Wen Tianyue quickly corrected himself, “I meant to say Tim Cook. You two must have some common topics.”
“Go quickly,” Tianhe said. “And don’t drink alcohol on the plane.”
The boarding announcement was made, and Tianhe watched through the glass wall as his older brother, still intoxicated from the two bottles of alcohol from the previous night, stumbled onto the plane. Tianhe turned around, left the VIP lounge, got into the car, and told the driver, “Go to the company. Inform the managers that we’ll have a meeting at 10 o’clock.”
The driver glanced at Tianhe through the rearview mirror and played a song. Amidst the melodic sound of Partita No. 4 in D Major, the car got stuck on an elevated road. The traffic jam during the morning rush hour seemed endless.
“Boss, take a short nap if you’re tired.”
“I’m not tired.”
Tianhe had a long talk with his elder brother before leaving, but this morning he was energetic because it was the day he officially took over the company. He adjusted his hair in the rearview mirror and examined himself for the day.
Wen Tianhe— 23 years old, Leo, 180 cm tall, 18cm long, with a net worth of 1.8 billion, a grand villa of 1,800 square meters, and a total of eighteen properties worldwide. He was the youngest son of the founder of Epeus Information Technology, holding a master’s degree in computer science from Cambridge. He was a tall and handsome young man who liked to wear shirts but disliked wearing ties.
He was gay and a proud 0.
Therefore, that 18 cm didn’t have much purpose.
Tianhe inherited his good looks from his German-descendant mother, with his nose and lips resembling his father’s, combining the best qualities of both parents. His fair skin and exquisite facial features often brought him unnecessary trouble during his studies at Cambridge. Good looks were commonplace, but an interesting soul was hard to come by. Tianhe was not the kind of superficial person who only judged based on appearances. Many times, he even wished he could look more ordinary so that professors would pay more attention to the code he wrote, marvel at his talent, and not just focus on his face.
Xiao Liu, the driver, turned his head to the back seat and said, “Boss, the managers are all ready.”
“Good.” Tianhe adjusted his bangs gracefully and said, “Can we change the song? I need something other than Bach’s music right now.”
Xiao Liu said earnestly, “I heard Bach’s music can be calming.”
Tianhe replied, “Bach is what Aunt Fang listens to while doing housework. Some people say God takes care of washing the world, while Bach takes care of washing clothes. This song always reminds me of a washing machine.”
Xiao Liu changed the song to Mozart. Although there was no more traffic jam, the Bentley moved slowly, as if hoping it would never reach its destination.
Tianhe said politely, “Could you drive a bit faster? You can take a rest if you feel uncomfortable. I can drive.”
Xiao Liu slightly increased the speed and glanced at Tianhe with a compassionate look through the rearview mirror.
Wisteria New District, 27th floor of Building 2 in the Hi-Tech Industrial Park, the headquarters of Epeus Information Technology.
“The second boss has arrived in the parking garage. Get ready, everyone,” the Chief Financial Officer said with a serious expression. “I’m really afraid that the second boss will fight with the shareholders.”
The vice president patted the CFO’s shoulder and said solemnly , “Just tell the truth. There won’t be a fight. Even if there is, we’ll pretend to break it up. Let the shareholders hit him a few times; it won’t matter, right?”
“How can we treat the second boss like that?” the CFO said incredulously.
The vice president said, “Creditors also need to vent their emotions. Besides, who knows what the boss will do after this?”
After thinking for a moment, the CFO asked, “Should we seal the windows just in case the boss jumps off the building?”
“Yes! Yes!” the vice president suddenly exclaimed. “Just in case.”
The executive assistant said, “It’s impossible. The second boss is an elegant person. He won’t jump off the building. It would be too unsightly. If anything happens, he will use a rope.”
“Hanging oneself is even more unsightly,” the vice president said. “With his style, he would probably scatter rose petals flown in from Paris all over the bed.”
“He’s here. He’s entering the elevator.”
The executives in front of the water dispenser dispersed, and the executive assistant knocked on the conference room door. Inside the large conference room were representatives from banks, investment firms, and three hedge funds.
“Our second boss will arrive at the company soon,” the executive assistant said. “In about five minutes.”
“Okay, okay.” The over-50-year-old credit manager from the bank took out a handkerchief and wiped the sweat from his bald head.
The bank branch manager asked the executive assistant, “The second boss is the legal representative of your company, right?”
The executive assistant replied, “The change of registration procedures was completed last month. He is the legal representative, there’s no mistake.”
After the executive assistant left, everyone exchanged glances.
“Who should start the conversation later?” the credit manager said.
“Let the bank start,” an investor said. “This company owes the bank the most money.”
“Or you can go ahead.” The bank branch manager couldn’t bear the stress on his heart. “Or perhaps the Panda Fund should start first.”
“No, no, you go first.”
“You go first, you go first.”
The head of the Panda Fund suggested, “I advise everyone not to harbor unrealistic fantasies. With the current financial situation of this company, I don’t think Warren Buffett could save this company even if he were alive.”
“Warren Buffett isn’t dead yet,” the head of the Conrad Fund said. “We just entrusted him with over 7 billion. It’s not auspicious to say such things.”
The head of the Panda Fund sneered, “Where did your company get over 7 billion? How come I haven’t heard of it. I guess your boss secretly got 7 billion QQ coins from Ma Huateng.”
The head of the Conrad Fund raised his voice by an octave. “Who do you think you are? If you invested in Tencent, you would probably publish articles every day to boost your own company’s readership. Is that how educated people behave?”
“Alright,” the branch manager said with a solemn tone. “We are all here to collect debts, so let’s not fight amongst ourselves. I remember you almost fighting over investing in Epeus. If you had known what would happen today, would you have bothered back then?”
Silence fell over the large conference room once again. It felt like waiting for Warren Buffett’s funeral.
Tianhe entered the company, and the employees on the executive floor brightened up at the sight of him, only to become dim again.
“Second Boss, here’s your coffee.”
“Thank you, but I don’t drink Starbucks. And please don’t call me Second Boss anymore.” Tianhe smiled at the executive assistant and then asked the CFO, “Mecy, are the managers all in the meeting room?”
The CFO immediately responded, “We have a few guests today who would like to meet you first. They’re in the conference room. It wouldn’t be convenient for us to move them elsewhere.”
Tianhe pushed the door to the conference room open, and turned back, saying, “Then inform them that the regular meeting for the managers will be rescheduled to the afternoon.”
Inside the conference room, the shareholders’ representatives jumped up as if they were witnessing Warren Buffett rise from his coffin and shout, “Surprise!”
“Good afternoon, everyone. Isn’t today the quarterly shareholders’ meeting? Why is the bank here?” Tianhe hadn’t understood the situation yet. The CFO and the vice president followed him in and closed the door to the conference room.
Outside the conference room, the driver whispered to the executive assistant, “Should we check the locks on the windows again? What about the hallways?”
The executive assistant replied, “We’ve even checked the men’s restroom. Everything’s fine.”
The colleagues in the outer area all looked up, their gazes fixed on the door of the conference room.
“What?!” Tianhe thought he had misheard and repeated, “How is that possible?”
Silence fell over the conference room, and everyone looked at the bank branch manager. The manager wiped off some sweat and said, “Didn’t your brother tell you?”
“I just sent him off three and a half hours ago.” Despite having experienced countless storms, Tianhe was a little dazed when faced with the terms “insolvent” and “restitution”: “Wait a moment, I’ll…I’ll give him a call. No, he should be on the plane to San Francisco.”
“Aren’t you the legal representative of your company now?” said the head of the Panda fund. “The shareholders already have a preliminary understanding of Epeus’s financial situation. The asset list has been accepted by your CFO, Mecy.”
“Wait a moment.” Tianhe couldn’t grasp the information he had received and said, “Get me some water.”
“This debt has been overdue for two years!”
“During the time your brother served as the legal representative and CEO, he gradually mortgaged all the properties and cars under his name to the bank.”
“In June of this year, Wen Tianyue illegally took 60 million of the company’s funds and went to Macau to alleviate financial pressure. The outcome is obvious.”
“Little Brother, I’m retiring next year, I can’t rely on this to live out my retirement. What should we do next? We need an explanation.”
“When you brothers were seeking financing, you didn’t say these things. Now, not only has the gamble with the company not been completed, but you also don’t respond to emails, don’t answer calls, or voice messages on WeChat. You make us resort to swearing for a full minute on WeChat. Does that sound like something an educated person would do? It’s humiliating.”
“Last year, your company invested in a sci-fi film, contributing 180 million yuan just to let a minor actor join the cast. You promised a box office of 4 billion. In the end, the director made a web game and ran away. Even coal mine bosses don’t play like this.”
“What’s more confusing is why Wen Tianyue would guarantee a loan for a company with no performance prospects.”
“The server units in Toronto cost 14 million US dollars in rent each year, not including electricity bills. Look at what you’ve developed. I saw your programmers playing World of Warcraft on the super servers when I first came here.”
Tianhe was getting a headache from the noise. He took the water that the vice president handed him, drank it all in one gulp, and slammed the cup on the table with a loud bang.
The conference room fell silent once again.
Tianhe stared at the cup, then, after half a minute, he turned his gaze to the shareholders’ representatives.
“Ah, I understand now.” Tianhe had a sudden realization. “You’ve come to the wrong company.”
Two hours later, the shareholders’ representatives left the conference room one after another.
Tianhe sat at one end of the long conference table, like a statue.
“Boss?” the CFO tentatively asked.
“I urgently need to listen to Bach,” Tianhe said.
“Not good! The bank branch manager is about to jump off the building. The window of the women’s restroom wasn’t locked properly, and he has already climbed out. We need a few male colleagues to hold him back!”
The vice president: “…”
Another hour passed, and Tianhe wearily waved his hand at the lunchbox in front of him. “I’m not eating, thank you.”
“You should eat your meal.” The vice president opened the lunch box from Yoshinoya. He was already starving and said, “President Xiao Wen, don’t neglect your health.”
The CFO anxiously looked at the boxed meal on the table. He had paid for the lunch, but he wasn’t sure if he could get reimbursed now. He owed three months’ salary and didn’t know when he would receive it. Wen Tianyue had confidently assured them that his younger brother had a solution, but now it seemed like it was all a lie.
“You’ve known all along,” Tianhe muttered.
“President Wen said that once you took over as the legal representative, the money would arrive quickly,” the vice president said. “Should we gather the small shareholders in the company and hold a meeting together?”
Tianhe remained calm and said, “No need. Didn’t they say we’ve completed the Series E financing and plan to go public in two years?”
The CFO said, “The Series E financing is only 60 million, and it was all gambled away in Macau.”
“As the CFO,” Tianhe said incredulously, “how could you let him take 60 million to gamble in Macau? This is dereliction of duty.”
“What could I do?” the CFO said with a mournful face. “President Wen always had the final say, and he has been misappropriating company funds for more than just a day or two. I didn’t know he would take the financing to play slot machines.”
“What kind of slot machine can eat up 60 million?” Tianhe spoke in despair.
The vice president said, “In the VIP room, the minimum bet for the high-stakes machines is 100,000, but it shows as 10 on the display. He thought the values were for 10,000 and pressed a bunch of zeros. When he started spinning, a big ball fell down. The casino started cheering, and President Wen thought he had won.”
“Alright, let’s stop talking about it,” the CFO interrupted.
“Oh, by the way, I bought a lot of almond cakes,” the vice president remembered. “They’re in the office refrigerator. Would you like to have some? They have been there for three months, but they haven’t expired yet. We distributed last month’s performance bonuses, but they haven’t been paid in full.”
Tianhe “…”
“What should we do now?” Tianhe asked.
The CFO said, “Can we secure new financing?”
Tianhe looked at the CFO with a puzzled expression, while the vice president offered suggestions: “Don’t you have another older brother?”
“My older brother is researching on a space shuttle,” Tianhe replied. “We haven’t been in contact for fifteen years.”
The CFO thought for a moment and said, “What about your mother’s side?”
“Not possible,” Tianhe flatly refused. “My maternal uncle won’t give me a penny, and besides, my mother has already remarried.”
The vice president thought for a moment and said, “Your father’s reputation is still intact. Why don’t we seek help from old friends and try for Series F financing? We can repay part of the debt first and apply for debt-to-equity conversion for the rest.”
The CFO said, “To be honest, the situation has changed outside. It’s hard to deceive people now.”
The vice president said, “Then we can only try to go public and rely on the stockholders for hope.”
CFO: “With the current situation, the audit will not allow us to go public, and security firms won’t allow it. Moreover, management is stricter than ever after the implementation of the IQ access system by the CSRC.”
The CFO had been winking at the vice president, but the vice president pretended not to see. Both of them didn’t want to say that big word.
“How much do we owe in total?” Tianhe asked absentmindedly. “I didn’t hear clearly just now.”
“1.4 billion,” the vice president answered. “From June until now, the entire company hasn’t paid salaries.”
The CFO watched as the vice president finished two large portions of preserved pork with cabbage rice. He stood up and said, “Should I have the details of the debt sent to your home? You can take a look at it in the next few days and consult your private financial advisor.”
“So, you want us to apply for bankruptcy, right?” Tianhe asked in a low voice.
The two men looked at each other but didn’t say a word.
The executive assistant knocked on the door and said, “President Wen’s phone has been switched off.”
“He’s still on the plane,” Tianhe said. “Maybe he’s going to discuss new investments this time. Everyone should take it easy for now. There’s still hope.”
“Yes, yes,” the CFO and the vice president said together.
“If we can find a way to pay the salaries, the employees won’t have many objections,” the vice president said. “Stabilizing their hearts is the most important thing. Everyone has an emotional attachment to Epeus. You mustn’t lose hope, ah.”
Tianhe met the worried gaze of the vice president and replied, “The salaries will definitely be paid. But right now, I feel like I need to go home and rest for a while.”
When Tianhe stood up, he felt a bit dizzy. The vice president opened the door and escorted him out of the company. A group of reporters suddenly surrounded them outside, their cameras flashing wildly.
“President Wen, how are you feeling now? Can we interview you?”
“Is Epeus going to file for bankruptcy?”
“What about the groundbreaking artificial intelligence that was supposed to be released in the fourth quarter? Is there still hope for it to see the light of day?”
“President Wen, are you okay?”
“Hey, don’t be like this. Please be respectful. Don’t go too far.”
The executive assistant pushed through the reporters, while the driver loyally protected Tianhe, and they hurried into the elevator and left.