SoftBank has achieved its goal of becoming an investment pioneer, just not in the way that its founder, Masayoshi Son, intended.
The Japanese company’s $100bn Vision Fund, which was meant to revolutionise investment in the technology industry, has become a classic case study of how to inflate valuations to unsustainable levels, stuff too much capital into companies that do not need it, and spectacularly incinerate value.
Look at the unravelling of WeWork, the SoftBank-backed office provider that has seen its valuation tumble from $47bn in 2019 to $2.9bn this March, even if SoftBank’s second-quarter results show some bounceback in its overall portfolio.
您已阅读15%（659字），剩余85%（3788字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。