First-Day Close

The true architect of the virtual-item charging model, and those instructions that had come across the ocean by phone from Tokyo, were stripped completely out of the official line.

The American media on-site accepted this narrative logic in full, with tacit understanding.

A grassroots technical genius contributed the idea, capital provided angel investment, and in the end, they rang the bell on Nasdaq and became wildly rich.

This was the business case Wall Street found easiest to sell.

The U.S.-based correspondent from Nikkei raised a hand to ask a question.

"Mr. Marshall, as a subsidiary of Sega, will Silicon Valley Online's future strategic planning be subject to intervention from the Tokyo headquarters?"

Frank leaned toward the microphone and answered.

"Silicon Valley Online is an independent American technology company. Our board is composed of the North American management team and representatives of venture-capital institutions. Sega North America, as an early financial investor, respects the management team's right to make independent decisions. The company's day-to-day operations are handled entirely by the North American team. There is no cross-border intervention."

That answer wiped Silicon Valley Online's relationship with Sega's Japanese headquarters clean as a whistle.

In the second-floor viewing area, Nakayama Takuya looked at Frank and Tom, who were hemmed in layer upon layer by reporters, then turned and walked toward the passage exit.

On the electronic screen in the trading hall, SVOL's opening price flickered into view.

12.5 dollars.

Compared with the issue price of 9.3 dollars, the gain during the opening alone had reached 34.4 percent.

Nasdaq traders shouted quotes into their phones.

"13 dollars!"

"14.2 dollars! Buy fifty thousand shares!"

A flood of capital was pouring in.

Wall Street fund managers used real money to buy into this carefully packaged American dream.

Within half an hour, trading volume broke through