The NASDAQ headquarters in Midtown Manhattan.
As the clock approached the 9:30 AM opening bell, the trading floor was packed wall-to-wall with people, creating an atmosphere of mounting excitement.
Paul Einholt, a journalist from Barron's, stood in the bustling hall, watching as Instagram's chairwoman and CEO, Deborah Lipman, delivered her IPO speech on stage. Surrounding her were notable attendees, including A-Girl, B-Girl, and C-Girl, as well as other figures like "Waist Goddess" and "Leg Goddess." Paul couldn't help but feel tempted to write a piece titled The Women of Westeros.
Such an article would certainly captivate readers, much like the infamous gossip piece from years ago that listed Howard Hughes' 164 girlfriends. But Paul knew it would remain a mere fantasy.
Howard Hughes, back in the day, had only gone so far as to buy up all the printed copies of that scandalous issue. If someone dared to expose Simon Westeros' personal escapades in such a manner, the repercussions would be far more severe.
The Westeros system's influence had long surpassed the realm of "when money talks, the truth stays silent." Two years ago, the clash between the Hearst family and Simon Westeros had ended in a crushing defeat for Hearst, reminding the media that even in a country that had celebrated "freedom" for over half a century, the power of money was undeniable.
Since then, the Westeros system's deepening ties with politics and the media had made it increasingly difficult for anyone to challenge its dominance.
Take Paul himself, for instance. Just last week, he had written a piece analyzing Hollywood's dynamics for Barron's. While it subtly alluded to the monopolistic tendencies of Daenerys Entertainment, the article still drew direct pressure from Dow Jones, the parent company, warning against publishing similar content in the future.
Today, Paul had been deliberately assigned to cover Instagram's IPO as a form of penance. His editor-in-chief clearly intended for him to write a glowing, celebratory piece. It was a chance for Paul to "redeem" himself and, ideally, get off the Westeros PR team's blacklist.
After all, in the media world, true freedom didn't exist.
Even the famous Watergate scandal had only come to light because of fierce political infighting between the two parties in the United States. Without that backdrop, how could a struggling newspaper, held together by a widowed owner after her husband's suicide, have dared to challenge President Nixon at the height of his power?
Reflecting on this, Paul realized a harsh truth: the United States lacked any force capable of counterbalancing the Westeros system, whether in business or politics. Without checks and balances, Westeros' grip on the nation would only tighten.
But, of course, this was just idle contemplation.
As a middle-aged man with a wife and children, Paul had no intention of becoming a martyr against capital. Otherwise, he wouldn't have accepted today's assignment and already resolved to craft an effusive puff piece.
As these thoughts raced through his mind, the D-Girl on stage concluded her speech. Paul joined the audience in enthusiastic applause.
At exactly 9:30 AM, Instagram executives and special guests gathered around to press the ceremonial button, signaling the start of trading for Instagram's stock on the NASDAQ exchange.
The first phase was the price discovery period, a moment of intense anticipation.
Instagram's IPO valuation had been deliberately set at a conservative $6 billion, far below what many believed the company was worth. Analysts had suggested that even a $10 billion valuation would have been justified. Although industry insiders quickly discerned Westeros' strategic intent behind the low valuation, it did nothing to prevent the outcome from playing out as expected.
After all, such an opportunity was too good to pass up.
Twenty minutes into trading, the results of the first round of price discovery were announced, eliciting gasps from those both inside and outside the trading floor.
$17.00–$18.00.
Even taking the midpoint, the initial price jump represented a 52% increase, catapulting Instagram's market cap past the $10 billion mark to approximately $10.3 billion.
Predictably, the fervor surrounding Instagram's IPO sent the NASDAQ tech sector surging. Within the first half-hour of trading, the sector index rose over 1%, with trading volumes significantly higher than in recent days.
After the first round, another four rounds of price discovery followed. By the time Instagram's stock began open trading, its price had already risen above $23 per share.
During a brief press conference with Instagram's executives, Paul Einholt managed to squeeze in one question. Afterward, as he left the conference room with his photographer, Leonard, the latter couldn't contain his musings.
"You know," Leonard said, "I kind of wish I were a woman right now."
Paul immediately understood. As they returned to the trading floor to observe the action until midday, he remarked, "That's not so hard to achieve these days. But Simon Westeros probably wouldn't be into trans women. Maybe staying as you are gives you a slim chance."
"No way," Leonard replied, shaking his head. "From what I've seen over the years, Simon Westeros is very straight."
Paul glanced up at the stock ticker and chuckled. "Well, that's too bad."
Leonard wasn't ready to drop the topic. "Did you notice that petite girl standing next to D-Girl earlier?"
"Jennifer Bray?"
"So, you know her too, huh?"
Paul nodded, a mix of envy and admiration in his tone. "The girl who jumped on stage during Simon Westeros' cameo at Madonna's concert. Honestly, she might be the most successful fangirl in history. With her holdings of at least 10 million Instagram shares, her net worth is already over $200 million based on the current stock price. If Instagram keeps climbing, she could even make it onto the Forbes list next year. A fangirl making it onto Forbes—I've never heard of another case like it."
Leonard shared the sentiment. Gazing at the stock ticker, he asked, "What do you think Instagram's market cap could ultimately reach?"
"It's hard to say. It depends on the company's future performance," Paul replied thoughtfully. "But even just considering its massive 160 million user base, a $10 billion valuation is already justified. And with the Westeros system backing it, I wouldn't be surprised if Egret ends up acquiring Instagram entirely."
"That seems unlikely," Leonard countered. "Egret's monopolistic tendencies are already glaringly obvious. Even if the DOJ's investigation is mostly for show under the Clinton administration, they wouldn't just let Egret keep expanding. Competing platforms would definitely raise hell."
"Nothing is impossible," Paul shrugged. "If Simon Westeros sees a need, he'll make it happen. Besides, Instagram's business is too niche. Once growth slows, it'll either be acquired or have to diversify into other areas. The former is clearly easier."
As they spoke, a commotion rippled through the trading floor.
"$500 billion! $500 billion!"
"Wow, the third $500 billion company. How long do you think it'll take for the fourth?"
"What about Egret's stock price?"
Amid the buzz, Paul and Leonard quickly turned their attention to the massive stock ticker dominating the hall.
It turned out that, following a morning surge, Cisco Systems' market cap had officially crossed the $500 billion threshold, making it the third company in North America to achieve this milestone, after Egret and Daenerys.
Not only that, Egret, which had already surpassed $600 billion in market cap the week after the election, had now climbed to $650 billion. The company was clearly accelerating toward the jaw-dropping $700 billion mark.
Simon learned of this milestone during Instagram's celebratory luncheon at a Midtown hotel later that day.
The morning had been hectic, with many other matters vying for his attention.
For instance, the latest box office numbers from North America. Unsurprisingly, Wonder Woman 2 had retained its spot at the top of the charts for a second week. Its weekly gross had remained in the nine-digit range, bringing in $101.22 million, making it only the second film after Batman v Superman: Dawn of Justice to achieve back-to-back $100 million weeks.
After 15 days in theaters, Wonder Woman 2 had amassed a total of $254.95 million domestically. While surpassing $400 million seemed inevitable, the question remained whether it could reach $500 million. Much would depend on the performance of competing films during the Christmas season.
This presented a bittersweet dilemma for Simon.
The two major films headlining the holiday season, Jumanji and Charlie's Angels, were also Daenerys Entertainment productions. If these films met expectations, they could cannibalize Wonder Woman 2's box office potential. Conversely, if they underperformed, Wonder Woman 2 might breach the $500 million mark, but the newer releases' figures would inevitably disappoint.
Beyond the box office, Simon was also keeping an eye on a new film beginning its limited release that day: Good Will Hunting.
As Daenerys Entertainment's primary Oscar contender for the year, the film also had strong commercial prospects. Though seemingly an artsy debut from a pair of newcomers, the involvement of established names like director Gus Van Sant and actor Robert De Niro, as well as rising
stars like Ben Affleck and Kate Beckinsale, had already generated significant buzz.
With a $10 million promotional budget from Gaomen Pictures, Good Will Hunting had become one of the season's most anticipated films. All it needed now was strong word of mouth from early screenings.
The timing of its December 6 limited release was strategic, allowing the film to build buzz ahead of the January Golden Globe nominations, which would be announced on December 11. After a week of limited release, Good Will Hunting would open wide on December 13, alongside Jumanji.
Simon had no doubts about the film's prospects.
Back in its original timeline, Good Will Hunting had debuted alongside Titanic and, despite being overshadowed by the latter's dominance, still managed to gross $130 million domestically as an arthouse drama. Now, with Simon personally ensuring the film's quality and with a significantly upgraded cast and marketing push, its chances of success seemed even greater.
At Instagram's luncheon, Simon was quickly surrounded by a mix of familiar faces and new admirers. Jennifer Bray, now dressed in a white cocktail dress, clung to him unabashedly, despite the many onlookers.
Lightly tapping her on the forehead, Simon allowed her to hold his arm as they moved toward D-Girl and the others. He offered his congratulations to the women behind Instagram's success.
Soon, the group was joined by a host of supermodels and influencers, including Cindy Crawford and Claudia Schiffer, who had been invited to the event.
As Simon became the center of attention, many of the other guests couldn't help but share the same thought as Paul's photographer that morning.
For the women present, however, the sentiment was even more layered.
Comparing themselves to the women around Simon was enough to drive them mad.
Take C-Girl, Claire Gagne, for example. Just this year, she had skyrocketed to third place on Forbes' list of the 400 richest Americans with a net worth of $29.5 billion. And now, Instagram's IPO had minted several new female billionaires, all with clear ties to Simon.
It was no wonder the other women at the event gravitated toward him.
They had all spent years navigating the same circles and believed they were just as capable as Instagram's founders. What they lacked wasn't talent or charm—it was opportunity.
And Simon Westeros was clearly the man who could provide that opportunity.
Unfortunately, while some were eager to approach him, others in his inner circle were just as eager to keep them at bay. Even getting a word in with Simon proved to be a challenge.
As Simon discussed Instagram's stock performance that morning, D-Girl refused to give up her spot by his side. She playfully turned the conversation to non-business matters.
"Boss," she began in a slightly coquettish tone, "we heard about tomorrow's performance at the Met Opera. But we forgot to ask for tickets in advance, and now A says they're all sold out. We really wanted to go—what should we do?"
Simon shook his head, amused. "If there are no tickets, then there are no tickets. Maybe next time." Glancing at A-Girl and seeing her confirm the situation with a shake of her head, Simon could only shrug apologetically.
______
(≧◡≦) ♡ Support me and read 20 chapters ahead – patreon.com/INNIT
For every 50 Power Stones, one extra chapter will be released on Saturday.