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> Basically, SoftBank has taken the money of some very unsavory characters (people who are literally willing to cut your body into little pieces) promising big
by elfexec 7y ago
> Basically, SoftBank has taken the money of some very unsavory characters (people who are literally willing to cut your body into little pieces) promising big gain
So has pretty much every major company and every major industry around the world. The saudis are some of the largest investors in pretty much everything - including the tech world.
> and has lost a significant chunk of it.
They haven't lost anything yet. They have made investments. Whether it pans out will take time. Even WeWork is still an investment. And last I heard, their first vision fund actually grew in value rather than declined.
> hoping that they can make up the lost money by high risk strategies.
It is the world's largest venture capital fund. The entire fund exists to invest in high risk companies. What are you talking about?
The fact that you think "This almost seems like the plot of the James Bond story Casino Royale." should tell you your assumptions and conclusions might require re-evaluating.
If what you said was true, softbank wouldn't have been able to create a second vision fund.
https://group.softbank/en/corp/news/press/sb/2019/20190726_01/ https://group.softbank/en/corp/news/press/sb/2019/20190726_0...
Instead of parroting news ( which hypes clickbait nonsense about things they don't understand ) and then mixing that with hollywood fantasy, why not look at the data, facts and what is really happening.
- thendrill 7y agoOk let's look at the data. We Work is not making more money than initially invested. Same can be said for, Uber, Netflix, Twitter, snapchat, etc. Etc. Etc. So yes... All this money is "unsavory". The whole IT industry is actually filled with "hot air" unsavory money. So what exact data should be looking at? If I look at it from a Hollywood perspective, the Corp. Scillicon valley it industry is a giant pyramid scheme club for rich people.
- greglindahl 7y ago> They haven't lost anything yet. They led a WeWork down round and have realized a loss on their previous WeWork investment. They also realized a loss with Uber, a public company.