This is the part that I believe is a bit deceptive to retail investors: >> Over the past year, SoftBank committed to invest $4 billion in We at a valuation of

This is the part that I believe is a bit deceptive to retail investors: >> Over the past year, SoftBank committed to invest $4 billion in We at a valuation of around $47 billion. It also spent $1 billion to buy existing shares from We employees and investors at a valuation of around $23 billion. It makes it seems like SoftBank believed the company is worth owning at a value of $47B. I don't know for sure, but I strongly suspect that they have a liquidation preference for their investment so that they get all their money back even if the company is much less valuable than $47B. That is unlike common share investors who may think they are getting the same thing at the same price. When they actually bought shares from employees they only paid half as much.