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I don’t think people were overly critical because of the “fake it till you make it” bits. Rather I think they were critical of what appeared to be a serial hypo
by JCM9 5y ago
I don’t think people were overly critical because of the “fake it till you make it” bits. Rather I think they were critical of what appeared to be a serial hypocrisy between what was being preached about “the we generation” and what he was actually doing behind the scenes. That’s what the “Billion Dollar Loser” mostly focuses on. The S1 was also one of the most jaw droppingly bad S1s in the history of IPO attempts, which caused potential investors to flee literally overnight.
- secondaryacct 5y agoYes the IPO proved not only Neumann insanity but moreover Masayoshi Son's inability to do due diligence in his adrenaline rush-saudi funded "we must spend this whatever the cost" decisions. I think it s safe to assume whatever Son funds now is first probably not profitable and second trapped into vast amount of money to spend without a ROI plan, increasing the overall debt burden of the business. In other words, you can make money probably by shorting Son's investments. Maybe even Alibaba, who never planned for regulatory compliance and making money even without trapping clients, will turn out to have been a silly idea in hindsight.
- syntaxing 5y agoBut the fund seems to be doing pretty okay[1]? [1] https://www.barrons.com/amp/articles/softbank-posts-huge-gains-on-vision-fund-holdings-admits-many-regrets-51620835505 https://www.barrons.com/amp/articles/softbank-posts-huge-gai...
- nradov 5y agoWell you can just short Softbank itself directly. It's publicly traded. But I assume a certain level of management incompetence is already priced in.