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Softbank is the black swan

Dr Christopher Cheok C S

Dr Christopher Cheok C S

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SoftBank virtually halts new funding as it contends with persistent losses​

https://techcrunch.com/2023/02/06/s...6-billion-in-a-quarter-as-downturn-continues/

GettyImages-1229449621.jpg


SoftBank Group’s investment vehicles posted a loss of nearly $6 billion in the quarter that ended in December as the Japanese tech investor continues to bleed through the market downturn and significantly pares back new backings.

This is the fourth straight quarter in which SoftBank Group has lost money, prompting many to challenge the fundamental thesis of the giant, which has deployed more capital in the tech markets globally than anyone else in the past decade.

SoftBank said it lost $5.8 billion across Vision funds and Latin America fund in the quarter. While a $5.8 billion loss is nothing to write home about, SoftBank will take comfort in the fact that it lost $10 billion in the previous quarter.
 
Just Grab alone this Korean Nihon invested USD4.5bn and Grab has been making losses since day one.

His biggest loss is WeWork where he lost about USD45bn in 2019 and not to mention that his Alibaba shares price has plummeted from $315 to $105.
 
Didn't WeWork get into financial trouble because of Softbank? What happened?
 
laksaboy said:
Didn't WeWork get into financial trouble because of Softbank? What happened?
Click to expand...


Masayoshi Son was taken for a ride by Founder CEO Adam Neumann. I believe Masa's litigation against Adam is still ongoing.

Right now the chap calling the shots at Grab is sent down from Tokyo office.

Am told that Founder of Grab, Anthony Tan is very nervous and worried about not being able to obtain fresh funding from SB.
 
Soft Bank invested about USD4.5 bln in Grab after 10 years, Grab is still not able to produce profits.
 
Such companies that can go on losing billions are the evils of capitalism as the billions could have been used to build infrastructure, schools, hospitals ect2 and improve human lives via cheaper medicines , schools, ect2.
At least its not using public funds and playing around with people's life saving like some sovereign funds
 
Merl Haggard said:
Just Grab alone this Korean Nihon invested USD4.5bn and Grab has been making losses since day one.

His biggest loss is WeWork where he lost about USD45bn in 2019 and not to mention that his Alibaba shares price has plummeted from $315 to $105.
Click to expand...
Grab never make any full year profit since its inception
 
Made too much easy money from alibaba and he thought he got that Midas touch.
If anything, his investment in British chip design company ARM should be ok.
 
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