Masayoshi Son ‘ashamed’ of focus on profits – SoftBank logs record $23bn loss

According to CNBC, for Vision Fund 1: "More than half of the money comes from contributors like Apple, Qualcomm, Oracle founder Larry Ellison, and the Public Investment Fund of the Kingdom of Saudi Arabia."

So I guess I don't feel too bad about the money party not working out.

> Huge losses at SoftBank’s flagship Vision Funds will force the company to begin “dramatic” cost-cutting after plunging technology valuations and a weak yen drove Masayoshi Son’s embattled conglomerate into a record ¥3.1tn ($23bn) quarterly net loss.

> In a press conference that Son himself described as “depressing”, he admitted that his famously aggressive global investment strategy should have been more selective, adding: “I am ashamed of myself for being so elated by big profits in the past.”

As I recall he did exactly the same thing during 2000 Internet boom/bust.

Un-paywalled: https://archive.ph/PcKBQ