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Byju, one of Softbank’s flagship investments in India ($22B valuation at peak) is in a similar place. $290M worth of payments are pending to just AWS and a ther
by captn3m0 4y ago
Byju, one of Softbank’s flagship investments in India ($22B valuation at peak) is in a similar place. $290M worth of payments are pending to just AWS and a there’s a $1.2B loan left hanging.
https://themorningcontext.com/internet/byjus-is-in-the-throes-of-a-working-capital-crisis https://themorningcontext.com/internet/byjus-is-in-the-throe...
- captn3m0 4y agoCorrection: $3.2M, not 290. That did feel incorrect, should have double checked.
- pkaye 4y agoThe CEO of SoftBank Masayoshi Son (https://en.wikipedia.org/wiki/Masayoshi_Son https://en.wikipedia.org/wiki/Masayoshi_Son) also had really bad bets during the dot com bust and lost a tony of money. He got a second chance by betting early on Alibaba. > As of September 2022, Son ranks 73rd on the Forbes list of The World's Billionaires 2022,[9] despite having the distinction of losing the most money in history (approximately $70bn during the dot com crash of 2000).[10]
- hinkley 4y agoI worked in Japan right at the beginning of the dotcom boom, and Japan was in the grip of a massive financial crisis at that time. And by crisis I mean people committing suicide with alarming regularity. My boss got most of his money from people trying to find some place better to put their money. Since the DotCom boom only felt long to people who said words like "internet time", I imagine the whiplash on that was pretty bad for everybody there.
- raverbashing 4y agoInteresting, they didn't seem to be lacking in money to sponsor the World Cup