> The Vision Fund reported an operating loss of $8.9 billion in October related to WeWork and Uber. The losses are especially concerning because of the financia

> The Vision Fund reported an operating loss of $8.9 billion in October related to WeWork and Uber. The losses are especially concerning because of the financial structure of the fund, 40% of which takes the form of preferred stock that promises investors 7% per year. That interest works out to as much as $2.8 billion annually. I'm not a believer of the Vision Fund (but it's just a subjective opinion - I'm a pessimist). > When SoftBank announced that it expected to raise more than $100 billion for Vision Fund 2 in July, the firm touted corporate backers Microsoft, Amazon, Foxconn and several financial institutions. But it only mentioned one sovereign wealth fund, from the government of Kazakhstan, which has roughly $60 billion in assets - a far cry from the hundreds of billions controlled by PIF and Mubadala. I watched a few documentaries about Kazakhstan last year (for no particular reason - I was just randomly watching TV) and (technically) it seems to be a nice country which has a nice mix of many climates (deserts, mountains, plains - https://en.wikipedia.org/wiki/Kazakhstan https://en.wikipedia.org/wiki/Kazakhstan ) and has as well many natural resources (oil, gas, uranium, metals) and is currently trying very hard to develop. I remember that at that time I mentally wished them well, but when I read now about their involvement in the Vision Fund I immediately thought "hopefully they didn't bet too much on it"... .