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> unless Son finds another Alibaba. Government controls don't run out like that. Thanks, you made me think. You might be right. An unsubstantiated part of me w
by voodootrucker 6y ago
> unless Son finds another Alibaba. Government controls don't run out like that.
Thanks, you made me think. You might be right. An unsubstantiated part of me wants to think that oil being pegged to the dollar and the dollar being pegged to nothing is the ultimate root cause. What allows western aligned funds like Softbank to accumulate so much mis-managed money that WeWork is even a thing. I feel like this whole thing will collapse and Bitcoin will look honest in comparison.
- thu2111 6y agoWell, oil is traded in dollars but not pegged to it. To be pegged to it, there'd have to be a constant oil price but the price floats freely. SoftBank is something of an aberration caused by the growth of China. Son would have lost all his wealth in the first dotcom bubble but he sprayed so much money around he got in on Alibaba early, and it turned into the Chinese Amazon. Or at least, that's the uncharitable view. The charitable view is that placing a lot of bets on a lot of firms and hoping one gets huge is a perfectly valid strategy to create wealth, and Son reaped the rewards. However, the risk involved is huge. Lots of people lost lots in the dot com bubble because they sprayed money around and did not find that magic lottery ticket.