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We have to distinguish between value created in the Arm ecosystem (a lot) and how much Arm retains (much less). Nonetheless Arm seemed to do OK as a public com

We have to distinguish between value created in the Arm ecosystem (a lot) and how much Arm retains (much less). Nonetheless Arm seemed to do OK as a public company for 25 years but Son thought he saw an opportunity and paid a big premium for it. I do think there is an issue around Arm as a relatively small player competing for talent with Apple, Intel etc which feels suboptimal for the industry as a whole. Perhaps eg the cloud hyperscalers could jointly and directly fund development of server chips in the same way that firms prepay TSMC for capacity.

cinntaile 5y ago
> Nonetheless Arm seemed to do OK as a public company for 25 years but Son thought he saw an opportunity and paid a big premium for it. Softbank tends to have a habit of overpaying. Maybe they just have more access to capital than available opportunities they can intelligently spend money on.
- roughly 5y ago
  The sentiment around the time of the WeWork collapse was SoftBank was generally considered the dumbest money in the room.