From Zero Hedge: Ever since Vision Fund chief Rajeev Misra told Bloomberg that SoftBank’s second “Vision Fund” might instead be formulated as a “SPAC” instead of another VC fund, we’ve pretty much been waiting for the next shoe to drop over at the Vision Fund. Miraculously, SoftBank’s shares have recovered, and talk of giving a WeWork[…]
From Zero Hedge: SPACs (it stands for Special Purpose Acquisition Vehicle) raised a ton of money over the summer as the craze that seemingly started with Bill Ackman and Chamath Palihapitiya (already on his third SPAC). It’s already drawing in big-name celebrity investors (Shaq is in the process of launching one), which might evoke unflattering parallels to the ICO[…]
From Zero Hedge 10/7/2019: SoftBank Group CEO Masayoshi Son says he is “embarrassed and flustered” by his track record after the valuations of WeWork and Uber plunge, in an interview with Nikkei Business magazine on Monday morning. “The results still have a long way to go and that makes me embarrassed and impatient,” said Son.[…]
From Zero Hedge July, 2019: For a minute there, it looked like the investors who had helped finance Soft Bank’s original Vision Fund were finally beginning to question the strategy of paying exorbitant sums for stakes in Silicon Valley’s most popular unicorns. But, aside from a handful of embarrassing flops, the strategy appears to have[…]