NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html
NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html
NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866
NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx
Playboy going public: Porn, Gambling, and Cannabis
!!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/
https://www.playboytv.com/
https://www.playboyplus.com/
https://www.iplayboy.com/
Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/
https://www.microgaming.co.uk/
“This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/
As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1
They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era
Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea
“Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae
Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/
Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html
Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05
Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm
This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003
Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm
https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html
Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing
“Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though
https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf
Or here:
https://www.mcacquisition.com/investor-relations/default.aspx
Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.

Continuing
“Hey, Viv!”, I say, as we’re all being shuttled onto the bus which will take us to our hotel, “Toss me one of those miniatures, if you please. Yeah. Of course, Vodka’ll do. It’s bloody dusty round these parts.”
Viv chuckles and asks if anyone else wants anything. He’s a consummate scrounger and somehow sweet-talked a demure and pulchritudinous female Air China cabin attendant out of her phone number, Email address, and a case of 100 airline liquor miniatures.
That he looks like a marginally graying version of Robert Mitchum in his heyday and speaks fluent Dutch, French, and Italian might explain his success. I mean, a guy with four ex-wives can’t be all wrong, right?
He’s a definite outlier in this crowd. We could be characterized as a batch of aging natural geoscientists who collectively, sans Viv, add up to an approximate eight on the “Looker” scale. Besides the years, the mileage, the climatic, and industrial ravages, it’s a good thing we all have expansive personalities, as most of us are dreadful enough to make a buzzard barf.
But, save for Viv, no one presently here is on the make. Oh, sure; we’ll all sweet talk some fair nubile into a free drink or a double when we really ordered a regular drink, but we’re all married, most terminally, that is, over 35 years and counting. The odd thing is that save and except for Viv, none of us married folk had ever been divorced.
That is strange, considering that the global divorce rate hovers around 50%, and we are often called to be apart from kith and kin for prolonged periods. However, we are always faithful and committed to our marital units and those vows we spoke all those many long decades ago.
But, hey, we’re all seriously male and not anywhere near dead; and there’s no penalty for just looking, right?
Continuing.
We’re all loaded on a pre-war, not certain which war, by the way, bus which stank of fish, kimchee, and diesel fuel. We really don’t care even a tiny, iotic amount. It’s free transport, we’re tired of traveling, and not keen on walking any further than we absolutely have to.
Viv has been passing out boozy little liquor miniatures, and I’ve been handing out cigars since I bought a metric shitload back in Dubai Duty-Free and somehow got them all through customs.
We didn’t light up, as there was neither a driver nor handler present. So, we figured we’d all just wait on the cigars, and concentrate on having a little ground-level “Welcome to Best Korea” party until the powers that be got their collective shit together and provided drivers, herders, and handlers.
We sat there for 15 long minutes. Being the international ambassadors of amity and insobriety, we started making noises like “Hey! Where’s our fucking driver?” and “I am Doctor Academician! Of All State Russian Geological Survey! How dare you make me wait? ”
Suddenly, a couple of characters in ill-fitting gray suits and fake Rays Bans are outside the bus having a collective meltdown. Somehow, someone fucked up and put us on a ‘regular’ bus and not the ‘VIP’ bus. In other words, we got to see what the locals really got to ride around Pyongyang on instead of our supposed to be impressed by the bus that wasn’t there; but was now just arriving.
A spanking new purple-and-chrome Mercedes long-haul bus shows up. It even has our group name emblazoned above the placard that normally tells where the bus is headed or who it is for: “’국제 석유 지질 과학 연합’ [Gugje Seog-yu Jijil Gwahag Yeonhab] or ‘International Union of Petroleum Geological Sciences’”.
We are brusquely ordered off our present bus and into the opulent, obviously bespoke, bright yellow faux-leather interior Mercedes-Benz Tourismo RH M. It’s so new and so obviously a ploy to get us to think that all things here are so new and opulent, it even smells of that new car, ah, bus, aroma.
“Well, we’ll take care of that soon enough”, I muse, as the bus is equipped with ashtrays and we’re going on the scenic route to our hotel, which is only 25 or so kilometers from the airport. However, it was announced that it’ll take us about 2 hours to get to our hotel since we need to see the city in its best light and get a feeling for the town if we should ever find ourselves lost and alone.
We all know what’s going on. They’re getting our rooms ‘ready’ for our arrival and need some extra time to make sure everything’s all wired in and transmitting properly.
“Guys”, I muse to our new handlers, “I’ve been to the Soviet Union, pre-wall fall. I stayed in places where I was definitely among the first westerners ever to grace their porticos. We’re a busload of natural scientists, of eight different nationalities, covering the economic spectrum from staunch capitalism to sociable socialism to hard-core communism. You even think for a second we’re going to spill any beans about anything you’d find interesting or useful? Think again.”
In fact, it would become a running joke between us all to see what sort of fake bombshells we could drop into the normal conversation what would give the listener’s the greatest case of the jibblies.
But for now, our bags were all loaded into the cargo compartment of this very, very nice, I must admit, mode of conveyance. Our handlers: ‘Yuk’, ‘No’, ‘Man’, and ‘Kong’, are all seated upfront and please with their latest tally of bodies. We have a couple of shady fellow travelers with the knock-off Ray-Bans and shiny gray suits that just appeared out of the woodwork in the back, seated by the loo, watching over all of us, and we’re going on a fucking city tour, whether we like it or not.
We’re all present and accounted for. Let’s keep our camera in our bags for the time being as the drinking and smoking lights had just been lit as the bus fired up its new German-engineered and machined precision diesel engine.
The bus rumbled to life and after a moment or two of checking that all dials, gauges, and indicators were where they were supposed to be; without so much as a cursory glance, we pulled out into traffic.
Except there was none.
Not another bus, pushbike, tap-tap, scooter, car, truck, hover-board, or motorcycle in sight.
Nothing.
Seems we were a big deal. They shut down the main drag so we wouldn’t be encumbered by such proletariat things like traffic jams or people-things cluttering the roadway, clambering for a look at the Western scientific cadre.
So, away we whizzed, sans traffic and into the very belly of the beast, and onward; eventually, towards our hotel.
Our handlers were very kind to point out passing scenes of interest.
“Look, look! There’s the Potong River. Notice all the lovely birds, ‘eh what? See the Norwegian Blue? Beautiful plumage!”
“See here, look. Here’s the Taedong River. Many forms of fish in the river. Maybe we’ll see some fishermen. If you like, we can stop, and ask them about today’s catch.”
We all declined, as we were certain that the fish the ‘random fisherman’ we’d talk to was flown in fresh from elsewhere earlier in the day.
Besides, we were comfortable. We had our drinks, our cigars, and we were leaving the driving to someone else.
After being driven around the city and seeing all the wonderful monuments, like the faux Arch of Triumph, which looks exactly unlike its namesake Arc de Triomphe de l'Étoile in Paris.
The Arch of Reunification, a monument to the goal of a reunified Korea, which, by necessity, is unfinished. Then there’s the Tomb of King Tongmyŏng, where people are lining up, just dying’ to get in.
Finally, we all called for our hotel, the Yanggakdo, after yet another mausoleum, the Kumsusan Memorial Palace of the Sun.
Arches or tombs. Such a stunning array of monuments and places of less than moderate interest.
We were interested in Mirae Scientists street (Future Scientists street). It is a street in a newly developed area in Pyongyang to house scientific institutions of the Kim Chaek University of Technology and its employees. But we were told that it was too late, there was not much there to see, we needed to express written permission to visit, and we’d be going there tomorrow or next week.
We wheel into the parking lot of the Yanggakdo Hotel and are immediately unimpressed by the pseudo-Baroque concrete fiasco that appears to stand, wobbly, before us. It’s a page right out of the Soviet Construction-For-The-Masses Handbook. A cold, gray concrete edifice with multitudes of seemingly little, tiny windows. A perfect metaphor for our travels thus far; look at the expansiveness of Best Korean wonders, through this pinhole.
However, we judged too soon. We were told to go inside and check-in, whilst our luggage would be de-bussed for us and handled by the expertly efficient hotel staff. The lobby was opulent, tastefully laid out in earth tones of facades of veneers of marble, granite, some garnet-mica schist, if my hand lens doesn’t lie, some Prepaleozoic anatectic migmatite, displaying intricate and intense plication, xenoliths, and graphic delineation of minerals by segregation through melting points. There was a gigantic well-appointed and well kept up aquarium, complete with snuffling sharks and nuclear-submarine sized groupers.
Very handsome indeed. Impressions increasing slightly.
Then we see that there’s a bloody casino on the bottom floor of the hotel, several bars interspersed throughout the hotel, and karaoke, of which I’m not terribly fond, but some of my European counterparts almost swooned at the prospect. There are a large pool and weight rooms/gymnasia, saunas and places to relax outside of one’s room, but still under the watchful eye of the thousands of ill-concealed video cameras at every turn.
“Covert surveillance” may be a thing in Best Korea, but it’s a practice still leaves a lot to be desired. The Eastern Siberian Russians back before the wall fell were more covert with their obvious button audio microphones woven into the fabric covering the headboard of your Intourist bed than the Best Koreans here. Their cameras were ‘disguised’ as flower arrangements, overhead lights, and speakers inexplicably placed into things like standing ashtrays, refuse bins, and randomly placed holes in the wall.
The floors were all covered with exquisite what looked to be hand-woven rugs of most vibrant crimson and gold; the usual Communistic colors. Always with some sort of floral pattern or pattern that’s supposed to be reflective of nature, as I was told. Evidently, for workers to remember what nature was as they don’t get out much with 14 to 16 hours workdays here in the Worker’s Paradise.
Enough of the travelogue; we all wander up to the front desk, and each with their own passport in hand, request our reserved rooms. We supposed that we would all have rooms on different floors as the reservations were made, expired, re-made, juggled, rebooked, allowed to expire, re-jiggered, and finally formalized a scant week before we left the UK.
Nope. No such luck. We were all on the 39th floor. The place boasts 47 floors, of which, the top floor is a revolving restaurant. Evidently, food tastes better when you’re rotating.
However, it won’t spin unless you first buy a drink.
We had that thing whirling like a NASA centrifuge after its discovery the second night.
Yeah, all 12 of us are bivouacked on the 39th floor. A floor with approximately 30 rooms.
I guess we could have played “Room Roulette” and see who got which room and who’s luggage. Or we could switch every day or two to drive our handlers nuts. Or, we could just take our assigned rooms, which were conveniently located one empty room apart.
Meaning, no one had adjoining rooms. Why? Fuck if I know. We didn’t spend much time in our rooms, and that time was either sleeping or showering. We’d all meet at the bar, casino, restaurant, karaoke, bowling alley (all three lanes) or actual meeting rooms every once in a while when we thought we should get together and compare notes. It was the most inexplicable situation.
Plus, we spent an inordinate amount of time waiting on the fucking elevators to take us to our room. These elevators, and if you think you’re going to get a batch of aging senior scientists to schlep it up 39 floor’s worth of stairs, think again; are the slowest elevators in the civilized world. And that was the consensus of scientists representing not only Europe and North America, but Russia as well. 15-25 minutes added to each journey, up or down; stopping on every floor, except 5, on the way down..
Jesus Q. Fuck, dudes. If you can’t construct a bleedin’ elevator that works better than those at the Sozvezdie Medveditsy Guest House in Lesosibirsk, Eastern Siberia; then I suggest you seriously rethink your plans for world domination and new world order.
Grako and Erwin once, while waiting for the fucking elevator, figured out that we were earning some US$25 each just to wait for the lift to arrive and take us to our rooms. Every day. Sometimes several times per day.
With that, we all agreed to toss our “waiting time” funds into a kitty and on our last day of captivity here, blow it all in the hotel casino. Whatever became of that would be donated to the Koreans we thought most deserving of our largesse.
Would it be our handlers? How about the Korean Scientists we’d be meeting? The affable and most accommodating concierge? Or that plucky little Korean charwoman who was always on our floor and kept everything spotless, right down to our freshly laundered and pressed field clothes and newly polished field boots; done without our requesting or knowledge?
Only time would tell.
It could be a fortune or it could be bupkiss. Just like our expectations of the Heavenly Kingdom where we were currently sequestered.
As it was, with our official protestations, they kept only photocopies of our passports as we roundly refused and threatened a full-scale karaoke battle right here in the lobby if they didn’t relinquish our passports immediately. I had broken out my nastiest cigar and was primed to offend.
With that, we all had our keys and trooped over to the elevators for our first, of many, inexplicable waits. We made many uncharitable and potentially nasty remarks about the Anti-Western posters that made up some of the wall décor. Once we finally made it to our floor, we all fanned out to find our rooms. Viv found his first and was quite pleased to report to the rest of us that there was a “Welcome” basket in his room.
We all hoped that we would be receiving one a well.
I was in room 3914; which I considered a close call, but later only wondered as there was no 3913. Upon entering, I saw it was 1980s Hotel 6 opulent, but with an excellent over-city view. True it was late, dark, and the city was only somewhat lit up; I was looking forward to the view of the town in full daylight.
The room had a ‘king’ bed; that is if the king in question was Tutankhamen, the stubby, Egyptian boy king. The bed had no mattress pad and no box spring but it was hard enough for my liking. Many of my compatriots didn’t agree and complained bitterly. They eventually received thin mattress pads for all their kvetching.
There was an ancient Japanese color television, which only had 2 English language channels - Al Jazeera and the BBC, which was on a dated news loop. Watching the local channel is amusing though; the ads for ‘personal enhancements’ were hilarious, even without understanding a word of the language.
There were a couple of chairs and a low table, built-in dresser drawers for our clothes, a rusty and probably unusable room safe with corroded batteries, a small table built out of the wall that would serve as my travel office, and would-you-believe, a rotary telephone; how’s that for nostalgia?
There was an old-model radio built into the nightstand next to the bed. I was very surprised to find it not only received AM, FM but shortwave as well. I had brought along a pair of Bose headphones and during some rainy down days, spent many fun-filled, and I mean that sincerely, hours DXing from the comfort of my ‘enormous’ king bed.
Beyond that, the room was very nondescript. Like any other of the millions of rooms in hotels around the world that unlike here, aren’t claiming a 5-star rating. I mean, it was clean, if not a little long in the tooth. But didn’t smell too terrible, even after I took care of that with my Camacho offerings. It was utilitarian, everything worked, even the water pressure, which surprisingly could strip off layers of one’s skin if you weren’t careful.
The bathroom, though no Jacuzzi, had a large enough bathtub for the occasional soaking period. Western accouterments in the bathroom were also welcome additions. My knees can’t handle the traditional squat-holes any longer.
There were an electric teapot and several brands of tea, but no coffee. A quick “Gee! I sure wish I had some coffee!” to the four walls and damned if 30 minutes later, a porter didn’t arrive to replenish my tea and courtesy in-room coffee…
There was a small Japanese brand in-room refrigerator which I thought might house a mini-bar. Oh, no! It was actually a complimentary larder stocked with all sorts of Best Korean goodies. Multiple cans of Taedonggang beer. Several bottles of Pyongyang Soju, in various flavors ranging anywhere from 16.8 to 53 percent alcohol by volume. My fridge was skewed towards the right-hand side of the bell curve; the more heavy-duty boozy side.
Evidently, my reputation had preceded me again.
There was a selection of German-style wheat beers from the Taedonggang Brewery and the more familiar ales, steam beers, and lagers. There were some imported beers like Heineken, Bavaria, Pils, a couple of Japanese brands: Asahi and Kirin, and something called ‘Hello Beer’ from Singapore.
There were also ‘sampler’ bottles of Apricot Pit wine, and a couple of high-alcohol fruity liquors made from constituents such as apple or pear, and mushrooms. There were also special medicinal liquors like ‘Rason’s Seal Penis Liquor’.
That is going home with me unopened.
There were a couple of bottles of local sake, called Chonju. Finally, there was a couple ‘samplers’ of homemade alcohol known as Makkoli. Plus there was something called ‘Corn Grotto’, which for the life of me, looks and tastes much like a very passable Kentucky Sippin’ Bourbon.
I put our concierge on instant danger money the very next day. He’s yet to source me more than a fifth of the stuff so far.
I found that there is a popular drink here which mirrors the Yorsch of Mother Russia. Beer and soju can be mixed to create *somaek’; a foamy, frothy, funky drink of many flavors, depending on the soju chosen.
Is ethnoimbibology at thing? The science of how different cultures drink and the effects of drinking culture on different societies. If not, now I have another Ph.D. to pursue after I endow a chair at some likely Asian university.
Anyways, in everyone’s room was a “welcome” basket, just chock full of Best Korean goodies. Postcards, stamps, ads for coin sets, stamp proofs and other goodies that could be purchased at the hotel. There was a field notebook, which I thought was a very nice addition, newspapers, cookies, crackers, biscuits, candies, fruit drinks, and some fresh fruit; although tamarind chewies and durian chips aren’t on my list of personal favorites.
There were a couple of tour books, just chock full of staged photos. These were very nice as well, as so far, we haven’t had much time for shopping outside of government stores or smaller family-run shops in town or out in the boonies.
A few of us were hungry and decided to see what the hotel had to offer room service-wise.
Bupkiss.
But, they did have a selection of restaurants. There is a Chinese restaurant, a European restaurant, and a Korean restaurant on site but they all serve the same food...a Best Korean attempt at western food. And it was weird being the only ones in the restaurant even though it was fully staffed.
We grazed lightly and decided to do some late-night perambulations around our hotel. Our handlers admonished us to stay within the confines of the hotel, or see them if it was absolutely necessary to go walkabout. In the hotel, we were on our own.
We found that there were tunnels in the hotel’s basement. The basement tunnels were a real bonus. There’s a bar with pool tables, a karaoke room, bowling, and a massage parlor, where I was beaten and pummeled into submission by tiny, diminutive, little Korean lassies fully 1/5th my size.
It was wonderful.
There was a hairdresser’s, who were completely befuddled by my shoulder-length silver-gray locks and full gray Grizzly Adams beard. They did provide a lovely shampoo/cranial massage though for the equivalent of US$2.
There were a couple of shops selling Chinese goods rather than local stuff, which was sort of disappointing, a cold noodle bar, and another casino. No shops selling Korean Communist propaganda posters, as I wanted to augment my Soviet-era collection. Perhaps I’ll find something in-country later on.
We were shocked to find that the casino had WiFi that was uncensored and we were able to access; after a fee of liquor miniatures and a cigar or two. We were supposed to have access to the global internet, not local intranet, from the universities that we would be visiting. However, all of that was under the heavily squinting eyes of handlers and guys in shiny suits wearing fake Ray-Bans.
I still had my secret satellite internet lash-up available, but that was iffy, a pain in the ass to set up, and ridiculously expensive. However, it did work on the 39th floor and the times I used it instead of wandering down to the tunnels, no one appeared to be the wiser. Thus far.
So typically, we’d just head to the basement casino with our laptops, iPads, and phones. Bam! Robert’s your Sister’s Husband, we could connect more-or-less free with the outside world; hence how you are reading this now.
Herro! “Yes, I’d sure like another beer. This time a porter, if you please.”
The more they overthink the plumbing, the easier it is to stop up the drain. Or the more they put into locks, the easier they are to pick.
Besides, we were told we’d have access to unfettered and free internet. OK, so we just found it for ourselves. Whaddya expect? We’re scientists, motherfucker, back off.
Ahem.
Back to reality.
The breakfast buffet the next morning had a wide choice of Asian and Western food, although the choices seemed to be the same every day. The main event was to beat the Chinese tourists to the egg station every morning. Breakfast always included fried eggs, a limited selection of pork, kippered fish, potatoes, rice, fruit, and a very Titanium-dioxide-white white bread
After a while, I took to going to the small market behind the lobby, buying some imported Chinese or Japanese nibbly bits and heading to the tunnels for a few breakfast beers before the long hard day’s work. It took almost a week, but I gained the trust of some of the workers in the tunnels and they showed me the on-site microbrewery at the hotel. It produced very passable, and very, very cheap beers of several varieties.
Liquid bread. Beer. Is there nothing it can’t do?
After breakfast our first day at the hotel, we were told to meet in the Conference Room “Il-sung” as we were going to have a ‘Welcome foreign imperialist scientists’ introduction and indoctrination.
Besides our handlers and the shiny-suit squad, there were several Korean folks we didn’t recognize. These were students, scientists, and scholars from the Kim Chaek University of Technology, Kim Il-sung University, the Pyongyang University of Science and Technology; all hailing from Pyongyang, and the University of Geology from North Hwanghae Province.
“Oh, marvelous”, Erlen remarked, “It’s going to be a bloody Chautauqua. We’ll be here all day.”
“Well”, I replied, “It could be worse. We could be on a bus headed off on another unscheduled road trip.”
As we found our seats, our Korean counterparts were busily setting up portable screens, like the ones your grandfather had for showing his 2.1 Googleplex worth of travel slides every Christmas or Thanksgiving get-together. They had a couple of ancient Chinese brand laptops that could have doubled for body armor, they were so thick and heavy.
While they fiddled with running cords for the overhead projectors and 16mm film projector; yes, it was going to be movie time as well, the hotel’s restaurant folks wheeled in carts laden with scones, cupcakes, and other sweet sorts of bakery. Another cart was wheeled in with pump-pots of hot water, tea, and coffee. Usual scientific meeting fare.
There was one final cart that made the day bearable. It held a pony keg of hotel micro-brewed beer on ice, with several dozen frosty mugs available for all who wanted to partake.
There were instantly 12 mugs that were spoken for.
I grabbed a cold beer and wandered around the conference room, sipping beer, chewing on an unlit cigar, and just trying to be pleasant to our hosts and their scientific guests. I was surprised when one North Korean professor, who spoke amazingly British-tinged English, offered me a light for my cigar.
“Is smoking allowed here?” I asked.
“Allowed?” he laughed heartily, “My good man, it’s practically a prerequisite.”
“Here then”, I said, offering him a nice, unctuous Camacho, “Try one of mine.”
Dr. P'ung Kwang-Seon of the North Korean University of Geology became my instant and lifelong friend at that moment.
We had a very nice chat, much to the chagrin of the gray suit cadre, who could hear what we were talking about, but probably didn’t understand anything beyond every 8th word.
After a while, we were asked to take our seats, after refreshing our drinks, and introduced to the group of Korean geoscientists we’d be interacting with during our stay here in Best Korea.
I tried to record every name, but between the students, other scholars, and professors from the various universities, I decided I’d ask for a list of participants once the day had worn on. After all, they had all our names, references, and resumes if the thick folio they kept referring to was any indication.
There were a couple of hours of introductions, as every one of the Korean geoscientists there introduced themselves, mostly through translators, told of their personal area of specialty, and their latest work.
Most were what would be considered geoscientists, but oddly enough, not one that you would consider a petroleum geoscientist, however tangentially.
There were geomorphologists, structural geologists, petrologists, mineralogists, marine geologists, engineering geologists, and seismologists. However, there were no stratigraphers, sedimentologists, paleontologists, or geochemists. We were all geoscientists, but apart from the obvious Korean:English disparity, it was as if we spoke different scientific languages as well.
That would be our first hurdle to overcome.
They had no oil industry here; none whatsoever, therefore why one would bother with the geosciences that fed directly into petroleum? That, in and of itself, would make it difficult to explore for oil in the country. Couple that with the fact that they’re so insular, think their version of ‘science’ is the best, at least that’s the official line, and think all other’s ‘science’ is capitalistic, substandard, and inferior doesn’t bode well for your country discovering anything either oily or gassy.
We were having another conclave around the beer keg, ack, err…a ‘coffee break’ and I mentioned this fact to my scientific colleagues.
“Guys”, I need input here, “We’re going to get precisely nowhere if they won’t even acknowledge that they have major problems from the start.”
Ivan replies, “Very true. I’ve seen this before back home. You get a group so entrenched in their own little corner of science, they can’t even accept or acknowledge that others exist. Not only exist but actually know more about a certain problem than do you.”
Dax joins the fray, “Sure, that’s very true, but who’s going to tell them this unfortunate fact? They could take that as a personal, national, and global insult. Imagine you’re at an international conference and a bunch of foreigners walk in just to tell you you’ve been doing it all wrong for the last 75 years.”
I add, “Remember, though. These characters are scientists as well. I think it’ll be a good measure of seeing what sort of science and scientist we’re dealing with here. If they are truly researchers, they’ll listen to and evaluate what we say as for veracity and accuracy. If they’re just a bunch of Commie goons; no offense, Comrade Academician Ivan, they’ll get all pissed off, kick us out, and we get to go home and enjoy our triple Force Majeure pay.”
Ivan walks over and deliberately steps on the toes of my newly polished field boots.
“In Soviet Russia, field boots walk on YOU.” He laughs in his heavily inflected, and scary, Soviet-era speech…
“Yes, I agree”, Joon adds, “But who is going to address this issue with our hosts? Perhaps one of our Russian comrades, as they are, or were, more politically aligned with our Korean friends and perhaps best understand the issue?”
Ack speaks up, grinning maniacally, “No, I disagree. We should have the one person here who so encapsulates the ideologies and political leanings that they love to hate here so much. You know; the quiet, diminutive, and soft-spoken North American…”
Dax recoils, “Oh, no! I’m not going out in front of this mob of ornery Orientals…”
I smile wanly and tell Dax to cool out.
“Relax, Dax. They’re talking about me.”
“Oh, yes”, a collective group of voices replies, “Yes. Let out fearless Team Leader break the bad news to our Eastern Colleagues. That way we can gauge their reactions to being bounced around scientifically by a member of the Evil Capitalist Cartel.”
“OK”, I reply, “I’ll do it. But be forewarned, my fine feathered fiends. I get stuck on a topic that’s not precisely my bailiwick, I’m going to throw your ass to the wolves. Remember, we’re all in this together.”
Whoops, and catcalls were reduced to mumbles and ‘Aw, fucks.’.
Chautauqua resumption was called and I asked for the floor.
It was a bit off the agenda, but since they’ve been chewing the air for the last several hours, they understood it would be appropriate for us to at least try and get a word in edgewise.
I downed my beer, and grabbed a fresh one as what I was going to say was going to be harsh, cut-and-dried, and rather pointed. But delivered in a pleasant manner.
I hoped.
This all had to be filtered through a series of translators, one for general conversational Korean and another for the more technical and scientific transliterations. I realized I was going to be up here for a while. So, I brought a cigar.
One way or another, I was going to deliver our pronouncements and hell, I may as well be comfortable while doing it.
.
“Greetings and felicitations, my Eastern Colleagues. Let me first say how nice it is to be here in the Democratic People's Republic of Korea as part of the ….”
I’m going to fast-forward through all the flowery bullshit and introductory happiness; I’ll going to just cut to the guts of the matter.
“…Now, you do know why there has been virtually no oil, gas nor any other hydrocarbon related deposit discovered here in the Democratic People's Republic of Korea?” I asked by way of a rhetorical question.
I sipped my beer and lit my cigar. In for a chon, in for a won.
I let the buzzing subside on the side of our eastern counterparts.
“Because, and please do not take this as insulting or derogatory, but as a statement of irrefutable fact, no one with the proper training nor experience has been looking. You’re historically guilty of applying the science incorrectly and letting dogma and politics guide your search, instead of the scientific method and the facts. Geology, like all natural science, is just as truth based on the facts for a capitalist as it is for a communist. Reality is not influenced by your beliefs, be they scientific or political, secular or spiritual, ‘trusted’ rather than ‘thought’; any more than by your wish that it wouldn’t rain today during a raging thunderstorm.”
Little Boy over Hiroshima was dropped with less effect.
Our Democratic People's Republic of Korea colleagues erupted into a chaotic mixture of stuttering, internecine yelling, accusations, and sputtering.
Calling for decorum, I figured that since I was this far gone, I may as well push the plunger all the way to the bottom.
“Gentlemen, I do not denigrate the science of geology as taught and practiced here in Best Korea.” I actually said that, sort of a slip of the tongue. Continuing, “However, one would not fish for Bluefin tuna from a rowboat in a pond with a fly rod. One does not hunt bear in the city with a slingshot. Just as one doesn’t search for oil and gas with mining engineers, geomorphologists, and seismologists.”
I let that sink in and after the translation, they calmed a bit and wanted to hear the rest of what I had to say. I could sense a couple was less than thrilled with what I had to say, but forging onward…
“One fishes for Bluefin tuna in the deep ocean with huge rods, reels and a specialist boat captained by someone with deep experience in hunting the elusive fish. One hunts bear in the proper environment, the taiga or forest, with the proper tools and guided by one with the education, learnedness, and experience to know how to make the hunt come out successful.”
Hit them with some analogies they can relate to and digest. Now, go for the carotid.
“Just like one does not hunt oil and gas without stratigraphers, sedimentologists, geophysicists, petrophysicists, and other oil and gas experts who have the education, experience, and knowledge to know where to look. Knowing which environment looks most conductive to hide your quarry, if you’ll pardon the pun, and how best to find them, the guys who know how to corral and de-risk them once you find them, and the engineers and technologists who know how to bring them to the surface so they can be utilized.”
They had stopped being irritated and were listening in rapt attention.
“My colleagues and I have spent the last few days going over, in detail the geology of your country. There is nothing we can see that would preclude the development, entrapment, and preservation of economic quantities of oil and gas. Ture, the geology is quite complex as is the structural history of the entire peninsula. That’s one other thing you will have to accept. Geology doesn’t give the tiniest shit about political boundaries. One must look at the big picture, and that doesn’t stop at some man-made borders. Ignore that fact at your peril, because if you continue to view the geology here as not existing across political boundaries, you are preadapting yourself for failure.”
Drs. Ivan, Volna, and Morse make certain that everyone sees the ex-Soviets agreeing with the bushy-bearded, cigar-chomping American capitalist.
“So,” I said, hoping to bring this little spit-balling session to a fortuitous close, “If we can have an agreement; scientific agreement, on these points, then I am certain we can find a way forward with not only this discussion but the program we can devise for the best Korean (notice phase shift?) geologists to take the project forward both scientifically soundly and economically successful.”
My North Korean counterpart gets up from his seat in the conference room, goes to the keg, taps a couple of beers and walks up to the podium where I was standing.
“Thank you, Dr. Rocknocker, for saying what needed to be said”, he spoke in perfect English as he handed me a beer.
I grinned and gratefully accepted the beer.
“Why, Dr. Chang Kwang-Su”, I said, as that was his name, “You old fraud. You do speak English; and very well, I must add.”
“Yes, almost all of us do”, he relayed, “But, as you said, we are most reserved. We were more or less under orders of the ‘most illustrious’, to play coy, and act as if we spoke no English.”
“I see.” I said, “I’ve worked in several FSU countries as well as Russia and saw that there as well. I guess old habits die hard.”
“That they do, Doctor.”, he replied, “But, we must now tell you the truth. We knew exactly what you said is true, and we agree. We are not as totally insulated from the outside world as some suspect.”
“Well, I was going on what your superiors related to us. Like the police that had all their toilets stolen, I had nothing else to go on.” I replied.
“Ah, ha! Quite!”, he chuckled, “We had long suspected that we were lacking in certain areas of scholarship. What you said cements that fact as it was an independent conclusion. We can now present that to our superiors with the caveat that unless we bolster work and training in these areas, the hunt of hydrocarbon resources here will be for naught.”
“I am relieved”, I said, truthfully. “I was slightly concerned that some might take umbrage to being told their science is not up to specifications. I tried to be the bearer of that bad news but deliver it gently. Here, I find you need that to use that as a truncheon to smack one’s boss upside the head and tell him that an upgrade is required. And fast.”
“Ah, so”, he replies, “We are in total agreement. Now that is out of the way, we would appreciate it if you’d help in designing a course of study for up and coming local geoscientists. Then, we can go forward with a great plan to search for oil and gas here in…Korea. Correct?”
“Absolutely”, I remarked, “You’ve got over 400 man-years of science and exploration expertise here in this room alone. Let’s shoot for the moon, so to speak. Let’s get you up to speed on scientific journals and articles that are available out there in all of academia and industry. Let’s get you communicating on a global basis. Let’s prove that you can talk science with global scientists and still not have it affect your political or nationalistic aspirations one little bit. Let’s see if we can drag you, figuratively speaking, kicking and screaming, into the 21st century.”
“Doctor”, Dr. Chang remarked, “You are the embodiment of what we were always told what Americans are. Brash, loud, confident, and evil. Except for evil, you are American as we were led to believe.”
“Hey, I take that as a compliment”, I exclaim. “You think that’s bad, I’ve got a bunch of earnest Europeans, raucous Russians, and a couple of cagey Canadians on my side as well. Before we’re finished here, we’ll have you ordering hachee, dining on Caldo Verde, snacking on salmiakki, drinking Russkaya vodka with Pabst Blue Ribbon beer, eating poutine, and rooting for the Packers.”
“Doctor, I don’t know what half of that means, but I hope it comes to pass. It sounds most fascinating.” Dr. Chang chuckles.
The rest of the day was spent with various groups crystallizing and breaking off from the main crowd; then reforming as different groups. This was good, as it showed an interest across not only national borders but across ideologies and scientific specialties.
Most everyone here spoke English with some degree of fluency, so the translators were called in only occasionally.
I made certain they were included in everything that transpired that day. I want everyone to feel ‘part of the team’. How better to show the classlessness of Western science to include everyone in on both sides of every discussion and activity?
To be continued…