> Huge losses at SoftBank’s flagship Vision Funds will force the company to begin “dramatic” cost-cutting after plunging technology valuations and a weak yen drove Masayoshi Son’s embattled conglomerate into a record ¥3.1tn ($23bn) quarterly net loss.
> In a press conference that Son himself described as “depressing”, he admitted that his famously aggressive global investment strategy should have been more selective, adding: “I am ashamed of myself for being so elated by big profits in the past.”
I am surprised by and appreciate Son's public humility. Seems quite rare for any billionaire to publicly admit they got greedy and express remorse or regret.
According to CNBC, for Vision Fund 1:
"More than half of the money comes from contributors like Apple, Qualcomm, Oracle founder Larry Ellison, and the Public Investment Fund of the Kingdom of Saudi Arabia."
So I guess I don't feel too bad about the money party not working out.
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[ 6.3 ms ] story [ 34.7 ms ] thread> In a press conference that Son himself described as “depressing”, he admitted that his famously aggressive global investment strategy should have been more selective, adding: “I am ashamed of myself for being so elated by big profits in the past.”
Anyone know what is different about him?
So I guess I don't feel too bad about the money party not working out.