3 ms·
And there's Masayoshi Son and SoftBank, plowing $1 billion into Wirecard a year ago, for a 5.6% stake. Mr. Enabler seems to have secured a prime seat for many
by adventured 6y ago
And there's Masayoshi Son and SoftBank, plowing $1 billion into Wirecard a year ago, for a 5.6% stake.
Mr. Enabler seems to have secured a prime seat for many of the big frauds & scandals in tech from the past few years.
At this point regulators should just be tracking SoftBank to watch where they've stuffed the Saudi money (or in this case, it's a very unusual UAE & SoftBank financing arrangement).
Bloomberg story out right now:
"The meltdown at Wirecard AG is raising questions about the company’s complicated relationship with the troubled SoftBank Group Corp."
http://archive.is/ipWck http://archive.is/ipWck
- easytiger 6y agoMy favourite SoftBank investment was the automated pizza van thing. I can only hope SoftBank had shares in a failing robotics company that it needed to funnel money to
- Danieru 6y agoThe pizza van guy was active here on hacker news right? I remember seeing posts from a robot pizza guy. Shame they got caught up with softbank.
- easytiger 6y agoI don't think being caught up with SoftBank is the issue. More that SoftBank have a subset of very negative indicators in their selection process
- Nasrudith 6y agoIt seems that lack of a remotely viable businesses model and trying to scale things that don't are are common SoftBank flaws. Like WeWork and the countless scooter and ride share at a loss companies with little true barrier to entry and can hardly pay for themselves while infamously underpaying their workforce.
- mtmail 6y ago"Pizza robot makes 300 pizzas per hour" https://news.ycombinator.com/item?id=21127795 https://news.ycombinator.com/item?id=21127795 "SoftBank’s $375M bet on pizza went bad fast" https://news.ycombinator.com/item?id=22337057 https://news.ycombinator.com/item?id=22337057
- ReptileMan 6y agoEither SoftBank is some brilliant money laundering scheme or them investing in something is sure sign it would fail. I haven't heard of any good investment they have made.