Masayoshi Son ‘ashamed’ of focus on profits – SoftBank logs record $23bn loss(ft.com)
ft.com
Masayoshi Son ‘ashamed’ of focus on profits – SoftBank logs record $23bn loss
https://www.ft.com/content/8d84b488-8f97-4742-ab46-154d3b312a82
8 comments
> 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.”
> 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.”
I am surprised by and appreciate Son's public humility. Seems quite rare for any billionaire to publicly admit they got greedy and express remorse or regret.
Anyone know what is different about him?
Anyone know what is different about him?
As I recall he did exactly the same thing during 2000 Internet boom/bust.
Un-paywalled: https://archive.ph/PcKBQ
So I guess I don't feel too bad about the money party not working out.