Chapter 209 Ambush (Part 2)

ked past her. He then placed his schoolbag beside Xue Yiyang and sat down.Su Cen suppressed the tempting thought of becoming desk mates with Tang Wu, whom he had secretly liked during middle school. I...Chapter 209: Ambush (Part 2)

You are unaware that you are standing at a turning point in history when you are actually at one.

This was a famous saying from an unknown source that popped up in Su Cen's brain full of information. But now, Su Cen understood that he was currently standing on the most important turning point.

He was facing Gao Heng. Perhaps the strongest opponent he had ever encountered.

Gao Heng smiled lightly as he looked up and down at Su Cen's wary eyes, "Su Cen, nice to meet you. I am Gao Heng."

Polite but condescending. The fact that the two of them did not shake hands showed that they were actually on opposite sides in the Macrochasm. With the collision and attrition of their opposing positions and factions having been ongoing, this was the first time they had officially met face-to-face.

Su Cen nodded, "I've heard a lot about you."

"That's enough," Gao Heng looked at Su Cen with an air of strength that belittled his opponent. "The stuff above your head is something you can't handle. It would be better for you to just settle down and live as a commoner." There was no overly intense confrontation or backstabbing here, but this sentence felt like a death sentence if words were powerful. Perhaps if he said these words to any influential figure in the country, they would feel the same sense of paralysis and powerlessness that comes with the end of one's second life.

Su Cen looked at Zack, who was wearing a hoodie behind Jian Hua Gao Heng and had his hands in his pockets, and asked, "Can you explain why there are many unrelated people on the board"

This non-committal response from Su Cen無疑是對高恒話語的淩厲反擊。站在他麵前的人，即便雙方對立，都不敢怠慢。

詹化的眼睛微微眯了起來。

"No problem," Gao Heng gestured to Jian Hua and switched to a proper Oxford accent, "Zack, you explain."

Zack said it as if he was stating an obvious fact, "Gao and Moritz are investors like Don Valentino. So they have the right to be observers."

Gao Heng smiled at Su Cen, "This board meeting is very important for our overall investment decisions. Therefore we're supervising the entire process. If anything makes you uncomfortable, I'm sorry."

"Then why wasn't I informed beforehand" Su Cen asked Zack, it was a form of questioning.

The atmosphere heated up slightly.

Many people looked at Zack, who rarely faced such direct questions in his dominant position at Facebook. Many instinctively lowered their heads and continued with their tasks. A few directors and observers quietly took their seats around the round table waiting for the final judgment of the board meeting.

Zack changed expressions a couple times before softening up, "That's exactly why we had this board meeting. But you were in Palo Alto before and we didn't inform you temporarily when you returned. It was just an observer session and I thought it wasn't such a big deal."

Su Cen knew that at this moment, what else could he say He and Zack had completely diverged into two different directions; any illusions were unrealistic.

Before Su Cen entered the boardroom, Qiao Shuxin whispered to him, "Don't worry. We will definitely prevent Facebook's senior management from selling out Chinese companies."

The highly speculated board meeting finally began.

There were thirteen or fourteen people seated around the round table, with a few girls responsible for serving and some legal department staff recording.

Each person had paper, pens, documents, leather file folders, and business computers in front of them. There was rustling as people adjusted their suits, Dustin spun his pen carelessly, which made Redwood's risk investment master Moritz look down on these members who sometimes didn't even know the value of what they were doing or their identities.

Meanwhile, Jian Hua and Gao Heng had mouths that were slightly upturned, waiting for this meeting to begin with extreme patience.

Su Cen saw the American girl Catherine wearing a waiter's uniform, which looked somewhat like a business suit: a white shirt and gray-blue pants. Zack accepted the coffee and lowered his head to look at the prepared speech, but then immediately turned around to look at her. He clearly hadn't expected Catherine would infiltrate the board meeting in such a way. His moment of shock only lasted for a few seconds before he regained composure so that no investor present could detect anything amiss.

Catherine finally came up next to Su Cen and asked him, "Coffee or tea"

Su Cen pointed at the coffee. Catherine placed it on his desk and, as she pulled her hand back, lightly touched his left shoulder in a casual but encouraging gesture.

As chairman of the board, Zack had a routine opening speech where he introduced each person present one by one: Dustin, Donald, Jim

. Then came the introduction of Gilmore and Meritage Capital's observing members. Next were Tony Valentini and Moritz; this father figure in Silicon Valley venture capital merely nodded around the room before settling down. They had attended countless bigger meetings than this one, having cultivated a nonchalant demeanor long ago. After them were Janice and Gao Heng. Finally came the introduction of co-founder Su Cen.

The observing member from Greylock, Charlie, couldn't hold back any longer and spoke up first: "You're Su Cen I've heard about Facebook China. Rumor has it that you guys are already profitable."

Su Cen nodded. "We made around forty million dollars in profit last year, and the figure is still growing."

Charlie exchanged looks with those beside him before nodding slightly and saying, "Oh, that's great." Clearly, the problems America was facing at the time put them at risk of not recovering their investments, so they were eager for Sequoia Capital to take over.

Zack interrupted timely, speaking quickly about Facebook’s prospects and confidence, but also listing out the current issues they faced. He then emphasized the importance of securing large amounts of capital now.

After Zack finished his statement, as everyone began whispering among themselves, he crossed his fingers with a slow, deep gaze sweeping around the room before finally settling on Su Cen. His long lips parted to say, "Su, what's your take on this"

Su Cen noticed Janice and Gao Heng sit up straight immediately upon seeing Zack’s gesture; it was as if a tiger had spotted its prey. This gave him an unsettling feeling, wondering why Zack would give him the chance to speak now, though he didn't know where this feeling stemmed from.

But when he saw Dustin and Donald's encouraging looks, Su Cen knew at least for today’s board meeting, he still had these two allies.

The arrow was on the string; it had to be released now.

Su Cen got up, opened the first agenda of the board meeting, and said slowly with a solemn tone: "Currently, Facebook China has fifty million registered users in mainland China and twenty million active ones. You have access to our financial statements and related domestic data comparisons... This linear growth from ICC shows that Facebook China now sits comfortably atop the list as the number one social network domestically. Our whole team plans for future expansion... Finally, I hope everyone can consider a simple example in this field: In 2001, Hong Kong's Yingda sold its 20% stake in mobile giant MobiBeach to Miriad International Holding Group Corporation at $12.6 million; the initial investment of just over one million dollars yielded nearly ten million dollars' return within less than a year, which was miraculous. However, three years later, the part of MobiBeach's equity Miriad acquired from Yingda is now estimated to be worth one hundred million dollars. This proves that back then, Yingda underestimated MobiBeach's growth potential. Facebook China today is like the MobiBeach back then—if American Facebook insists on selling more than twenty percent of its shares, I personally oppose this decision. I hope everyone can consider the higher returns from long-term investment."

After Su Cen finished speaking, the room fell into a hush. Immediately after, as Dustin and Donald flipped through their agendas with odd expressions, Janice and Gao Heng exchanged looks before both of them smiled.

Zack cleared his throat and then turned to Su Cen amid everyone's confusion: "I think you're mistaken, Su, maybe misled by outside rumors. With Facebook China performing so well, how could we possibly sell it When American Facebook encountered obstacles, the fact that Facebook China remained profitable was a miracle... We have no intention of selling any shares."

At this moment, Catherine, who had been pouring coffee for an overweight observer, looked distracted. Su Cen saw Dustin’s shock as he finished reading his agenda and stared at Zack.

"I think you're mistaken," said Tony Valentini from Sequoia Capital sitting in the room, "Young man, we’re here for American Facebook."

Gao Heng leaned forward, pressing on the board proposal on the table, then said, "Let's turn to page B255. It has a joint funding scheme by IDG and Sequoia Capital, proposing an investment of four billion dollars at a valuation of 120 billion dollars for about three percent equity in American Facebook."

Shuffling sounds from everyone flipping through the agenda could be heard as Su Cen still held on to his proposal suggesting selling off Facebook China’s shares.

Dustin and Donald were stunned by this news. Among them, Donald was even more so because as a seasoned president of Washington Post Group, he knew what this round of funding meant.

At this moment, Zack spoke up: "Without money means shutdown, but Facebook is different from other networks in that it never crashes; even just one day of downtime damages its credibility irreparably. We need this investment."

A murmur of discussion.

Kathleen, clearly shaken by the news, finally received the proposal for Su Cen at this moment and placed it in front of him. The agreement specified the date of Facebook's targeted issuance and the number of shares to be issued. According to the description in the agreement, all directors and investors of Facebook would issue a certain amount of stocks. Based on this rights issue, Su Cen’s equity share would be diluted from 37.9% to 35.9%, filling up the 2% needed for Gao Heng and Sequoia's 3.3% stake.

The rest of the investors, including Zuckerberg, The Washington Post Group, and Axel Springer, collectively had a diluted equity amount that did not exceed 1.4%.

At this moment, Gao Heng indicated to turn to the next page, where there was a document regarding Sequoia's and IDD's investment proposal. Gao Heng stood up and said, "Here is a compiled report. Last week, U.S. Congressmen Joaquin V. Baca and Ed Markey wrote letters to the Federal Trade Commission (FTC), requesting an investigation into Facebook’s business activities. The letter expressed concerns over Facebook's collection of user information, with the claim that large amounts of 'government' employees' personal data and sensitive industry workers' real profiles would be stolen by third parties. Furthermore, it was alleged that even after logging out, a Facebook user could still send messages through its technology. You can see many more accusations..."

Gao Heng's speech showed meticulous planning and detail. All the investors present and directors, except for Su Cen, Dustin and Donald, were aware of the direction the board was taking.

"Therefore, we propose to cancel the appointment of co-chief executives in the Facebook boardroom, with Mark Zuckerberg being appointed as the sole chairman and CEO, responsible for managing all aspects of company operations. As for the original co-CEO Su Cen, he would be granted the title of Vice President of New Product Development, without any direct management rights over specific departments or important matters."

Gao Heng's words were like daggers; a more fierce assault followed, "We also propose restructuring Facebook’s board from a five-person system to a six-person one. The selection criteria for the sixth director will be jointly recommended by Sequoia Capital and IDD Investment.

"No." Su Cen's pupils suddenly constricted as his voice rang out.

“If it is about Facebook’s development in America, I’m willing to dilute 2% of my equity to secure this investment..." Su Cen slowly stood up and looked at Zuckerberg one word at a time.

Zuckerberg exchanged glances with Su Cen but for the first time did not look him straight in the eye.

“But I absolutely oppose such an arrangement, as it fundamentally undermines the authority of the five-person board system.”

The confrontation was sharp and direct.

"Then I suggest immediately removing Su Cen’s position on Facebook's Board. He will no longer be a member of our board." Gao Heng promptly shifted his gaze to Mark Zuckerberg.

Thud! A sound echoed as Katherine’s water bottle fell to the ground and shattered beside them.

All present understood this was an ambush, a thorough ambush. The sale of Facebook's Chinese shares was used as bait to lure Su Cen to America; while he and his team were busy opposing the domestic company's share sales, their true intention was to use this board meeting to remove him from the U.S. Facebook Board.

This founder was being kicked out of Facebook in such a way.

Zuckerberg looked down, furrowing his brows. His freckled face and messy yellow hair seemed to reflect the intense battle going on inside him. Finally, he sighed deeply and addressed all board members, "Let's vote."

“Axel Springer Company, Jim,” Zuckerberg continued muttering without being disturbed.

Jim hesitated for a moment before saying to Su Cen, “Here, I hear various news and information about Zack every day. But do you know how much I can hear about you” He paused and continued, "It’s less than one percent of what I hear about him. However, after today, you will become the focus... Sorry." With that, he raised his hand.

Donald looked at Su Cen; finally, with a full face of regret, he cast his vote in favor.

Sad and helpless, personal feelings could never change such an outcome.

"Dustin, are you supporting me or him" Zuckerberg turned to Dustin for the final decision.

Dustin was gradually turning his initial shock into sorrow. Then he slowly raised his hand.

The meeting wasn’t decided so casually, and there were several hours of tug-of-war after this. The board would convene in fits and starts, with both sides presenting their arguments and clashing.

At the company headquarters where five hundred employees worked externally, everyone was silent about the news. That co-founder who had been present at that gathering would likely be leaving the company from now on. Could it be that this was the road they were destined to follow when they founded Facebook together

The last statement was interrupted by Qiao Shuxin’s intrusion, only to be stopped by security guards. He brought his resignation letter and then handed it over to the head of human resources.

In the end, the board's decision came out: Suge Chen's joint CEO status would be revoked; he would no longer be a member of Facebook's board. Apart from the fact that his shares in Facebook could not be shaken, he had completely severed ties with American Facebook.

Everyone knew that this news released by Facebook’s board would eventually rock Silicon Valley, and newspapers reporting on it would come out like snowflakes.

The legal department of Facebook finally notified Suge Chen in the waiting room about the final decision of the highest board. Suge Chen's face was calm as if nothing had happened during this ambush. After receiving the last notification, Suge Chen left the waiting room and saw Mark Zuckerberg sitting at the far end of the hall among countless cubicles. He sat silently without uttering a word, quietly watching Suge Chen here with sad blue eyes.

Suge Chen walked up to him in silence, and those Chinese, black, Vietnamese, Indian, and other employees from various races and genders who worked at Facebook all watched him intently, and as he moved forward, the crowd stood up one after another like waves.

This scene was magnificent like a Harvard fraternity gathering.

Countless people looked at Mark Zuckerberg sitting in the CEO position; he was currently the only CEO, the sole king.

Suge Chen casually picked up an Apple laptop from a nearby table. The guards around him walked over with dedication, and Li Pengyu immediately blocked three huge men behind them. One palm pressed against one of them, while his other hand pointed at all the guards in a threatening manner, not allowing any of them to cross the line.

Suge Chen suddenly smashed the laptop onto Zuckerberg’s desk before him with a loud bang that echoed throughout the hall.

Countless people fell silent amidst splattered Apple keyboards and glass shards. Many covered their mouths, and Zuckerberg stepped back after rising from the mess, his thin lips tightly pressed together as he looked at Suge Chen in shock.

Suge Chen’s expression was surprisingly calm: "We once played chess in our dorm room, drank beer during winter, created Facebook, brought many people together to form influence, and hoped to change the world around us. This is what you give me in return"

Zuckerberg was speechless but finally said, “At least you still have second largest shareholder equity, which will never change. Through this round of funding, your net worth will be nearly 4 billion dollars."

"But I’ve lost Facebook...” Suge Chen paused briefly, "We’re no longer friends; there’s no connection between me and you!"

Turning to face Jianhua and Gao Heng beside him. Jianhua lit a cigar and shook his head: “I warned you before, I admire you, but don’t forget that I can also crush you with my own hands.”

Gao Heng looked at Suge Chen and slowly spoke with a smile: "What I said earlier was true; it’s best to be your common people."

Suge Chen's pupils shrank, squinting his eyes at the two of them and speaking each word clearly: “... Please remember everything that happened today well… I will give you what you deserve.”

Then he turned and walked toward the door. The guards blocking his way were pushed aside by Li Pengyu on both sides, creating a gap. All employees in the company watched silently as this king left. Then the split crowd closed behind him. Finally, everyone’s gaze focused on that man with acne sitting at the top of the hall amidst the mess.

Utterly alone.

Mobi reading:

Post book review: place. As summer heat gradually receded and grass leaves turned yellow during this bleak autumn season, Su Cen began to reacquaint himself with Keats, Dante of banquets, and Nietzsche... Previously,...