Some of this is also just hitting the undo button. Softbank had a murky habit of leading back to back rounds, so they were effectively dictating the market for

Some of this is also just hitting the undo button. Softbank had a murky habit of leading back to back rounds, so they were effectively dictating the market for their own investments. It’s like if you invest in my business at a $10 valuation, and then a year later you invest at a $30 valuation, and a year after that your accountants force you to carry it at the original $10 valuation. You’re undoing previous paper gains, but nothing really changed.