Chapter 3: Plan

After inspecting his land, William White returned to his family's mansion. Over several generations, the mansion had been expanded and renovated so much that it had become an entire compound. Don't expect too much in terms of intricate architecture - this doesn't exist in Texas. Texan style is as rugged as their personalities. Lunch prepared by Fulton was very hearty, at least the Boston lobster was huge. Texans eat quite roughly too, grilling everything and calling it Texas BBQ. Without a good appetite, you won't fare well in Texas. It's considered rude not to finish the large portions they serve when you visit someone's home. You can't help it when they serve up a huge platter of meat. If you barely touch it, your host won't be pleased. Another distinct feature is the rawness of the food -- steaks here are often bloody rare. Usually, only ladies would go for medium-rare, which would barely pass for rare elsewhere. The farm's affairs didn't really need his supervision. Managers who had worked their whole lives on the farm knew how to run it well. The continuous devaluation of the dollar was dragging the world economy down. If the Federal Reserve didn't take action, people might have to go to war. Wars typically stem from economic problems. When the domestic economy is a mess, national leaders tend to create external conflicts to shift focus, otherwise, they'd be the ones in trouble. The price of gold had indeed skyrocketed, from $30 per ounce post-WWII to over $300. Given the current situation, there seemed to be plenty of room for growth. To curb inflation, the Federal Reserve had started aggressively raising interest rates. It seemed like instead of controlling inflation, they had thrown the economy into chaos. There was severe inflation on one hand and severe deflation on the other. The dollar was devaluing, and prices were skyrocketing. However, the prices of agricultural products hadn't increased significantly; instead, sales had plummeted. White's farm's proximity to Houston put it at an advantage. Other Texas farms weren't doing so well, and many small and medium farms faced possible closure. "Fulton, reduce production a bit. This situation will last for quite some time." "Alright, young master. We were already planning to reduce dairy production by 5% and meat by another 5%." "That's about right. Continue with another 5% reduction next year." "Sigh, who knows how long this will last?" "At most three to five years. Things should start looking up after that." "Oh my, if it really takes three years, many farms will go under." "That's for sure. Small and medium farms have low capacity to withstand risk. Fulton, I don't plan to use my own account for trading futures this time." "London is simpler; it's the American market that's problematic." "Be careful, then. Open two accounts with a balance of one million dollars each. Use two seasoned and reliable people." "Got it, young master. I will arrange it immediately." It was only April, so he had plenty of time to prepare. Wealthy families always have some hidden wealth. The White family was no exception. His father had more than ten million dollars in a Swiss bank account. The U.S. estate tax was a joke, only targeting those who had accidents. It didn't affect the top elite much. The biggest impact was on farm owners who rarely had much cash. After several generations, even the largest farms couldn't be sustained. Estate tax wasn't based on annual profit; it mainly assessed the land value. Frankly, the prices assessed by those examiners were often way above market. By the early 2000s, many Texas farms were actually state-managed because heirs simply couldn't afford the taxes. "Fulton, get someone to buy the items on this list." "Got it, young master. These are all electronic products, right?" "Yes, I also need a few people - three software engineers and two electronics engineers. Use a headhunting company; I've listed the requirements." "Got it, young master. I'll take care of it." For William White, these expenses were chump change. Not that it mattered to him - even Fulton was nonchalant. As long as the young master was happy, that's what mattered. The U.S. faced industrial transformation, and so did the White family. It was both the best and the most dangerous opportunity. Surviving this period could make you a great company. A few years later, you'd find that all your competitors were dead, and your company naturally held a monopoly. Personal computers were in their infancy, and many big companies were still on the fence. They didn't see much potential in personal PCs. Apple's first computer was considered a joke. It looked like something haphazardly put together in a garage. Apple II seemed more like a game console. It was really not useful. Other companies were worse. IBM didn't even want to make small computers - they loved large mainframes and databases. William definitely wasn't going to give up on the huge IT pie. Hardware didn't have much appeal for now, so he needed to focus on software. Don't underestimate Apple II. This little thing was used in Europe until the 1990s. It was only with the advent of the Pentium processor that Apple II exited the market. The gap was truly huge. After Windows 95 launched, there was no room for other systems. They all just fell by the wayside. The current priority was paying taxes; without settling this, those hundreds of millions were not really his yet. Estate tax was utterly ridiculous - a shameless grab at personal wealth. It wasn't surprising for Russians to do it, but it was baffling for America. The country was founded to escape tax. Now, how could they abandon their founding principle? It was truly bewildering. "Young master, dinner is ready." "Alright, pour me a glass of red wine." "Yes, young master." "Fulton, improve the food standards for the family and the farmworkers. It's fine if we consume more." "Yes, young master. I'll get on it right away." "Fulton, since meat and dairy aren't doing well, let's increase some vineyard areas. Wine can be stored long-term. We'll just increase inventory." "Young master, we still have 70% of this year's wine unsold, and it's good quality." "That's fine. I mean, double the production within three years. We can also acquire neighboring farms that are not doing well. We might as well sell the oil business later." "Yes, young master. Your father was thinking about selling it too. It's just that the prices are low now." "Haha, it's fine, Fulton. As long as oil prices stay high, everything will come back. Don't worry about it for now." "Got it, young master." ***** https://www.patreon.com/Sayonara816.