Yeah, I get that and my post was kind of an implicit difference between what they "are" versus what I think they "ought to be" (admittedly easier to be in my armchair investor seat than Softbank's).

But their returns from Uber, WeWork, and Wag kind of support my point, whereas ARM and Nvidia support yours/theirs.

My broader point is that most informed technologists would've said three years ago that the ARM and Nvidia investments made more long-term sense than Uber and WeWork, yet Uber and WeWork are a disproportionate amount of the portfolio.

So if the Vision Fund isn't even going to succeed at the "scale big companies globally" approach, I'm not sure they would've done much worse going with the approach I suggested (or doing more deals like ARM and Nvidia, maybe they could've taken a huge activist stake in IBM or other large existing tech cos).