Earnings season is slowing, with the most important U.S. tech corporations already having reported second-quarter outcomes. However oftentimes probably the most attention-grabbing outcomes come not out of your Amazons or Apples, however from smaller issues — and even these that aren’t conventional tech corporations. SoftBank, for example.
Immediately, the Japanese conglomerate and startup investing powerhouse reported earnings that had been greater than a little bit bleak. SoftBank’s quarterly losses, price round 3.2 trillion yen ($24.5 billion), had been its largest in historical past, resulting in the corporate posting the next picture atop its investor presentation:
Picture Credit: SoftBank investor presentation
They do say a picture is price a thousand phrases. So what went improper? How did SoftBank lose a lot cash? The Imaginative and prescient Fund, its two-part effort to place greater than $100 billion to work in non-public corporations. Let’s see what triggered the injury.
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However earlier than we do, it’s price noting that the Imaginative and prescient Fund has already undergone a period of transition. Within the wake of the WeWork IPO fiasco, it received a bit harder on corporations, with profit becoming the watchword of its world. However that didn’t imply that SoftBank stopped placing capital to work — nor was it immune from altering market situations. Let’s have a look.
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