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The issue with SoftBank is that there is only one possible angle: they corner the market, and sell out to everyone else at a higher price. This implies that ye
by hogFeast 7y ago
The issue with SoftBank is that there is only one possible angle: they corner the market, and sell out to everyone else at a higher price.
This implies that yes, they have to double down.
The only issue is that SoftBank appears to be unaware they need an angle. They are unaware that geometry exists. They are unaware that maths exists. They just seem totally unaware.
In my experience, it is often a complete waste of time to look at someone doing something stupid and think: "They probably know what they are doing".
In 95% of cases, near 100% in financial markets, that person is just an idiot.
- origami777 7y agoThe follow on question is, how did an idiot get so much money?
- hogFeast 7y agoLuck. Invested in Alibaba and Yahoo JP (and he funnelled money into the latter pre-2001 from other projects to boost revenue). Got money from banks that didn't close him out when they should have (this would have happened anywhere in the world bar Japan and, possibly, Germany). Son's record as a VC is horrible. He raised something like 6 VC funds before 2001. None produced anything but busts. And he actually invested more capital on the way down. His only quality is zealotry. This the absolute worst possible trait for an investor (he isn't an investor, he is a salesman).