Tuesday, October 08, 2019

Absolutely no one could have seen this coming.

SoftBank Damaged After WeWork Implosion, Losses Could Exceed $5 Billion.

"SoftBank Group CEO Masayoshi Son has ruined his name in the investment community. His botched investments in WeWork, Uber, and Slack, just to name a few, could result in billions of dollars in losses for SoftBank Group Corp., according to Bloomberg, who compiled several notes from Wall Street analysts detailing the turmoil. "

This is one of the few times I can quote an entire article because it's MINE. Original here.

"I was reading Zero Hedge today where he talks about how the Khashoggi killing could blow up Softbank. Which made me laugh because a few months ago I'd made a post basically saying that nothing better happen to SoftBank or The Valley would be screwed.

When they started taking a stake in companies like Nvidia I started getting nervous. Because why would Nvidia need their money anyway? 

So I had to find my post so I could make sure of what I said because it was months ago. And OH MY GAWD. I had to laugh  so hard. This is my post in it's entirety written on April 25th 2018. 

"WeWork documents reveal it owes $18 billion in rent and is burning through cash as it seeks more funding. "

I've been completely fascinated by these "incubators". They don't seem to be producing much. Yet I see one site in Fremont that is basically vacant and just storing cars in the parking lot. I've been meaning to go and check it out more closely. They seem to be a direct to customer used car company that I haven't heard of before and forget the name of. But every time I drive by there - there seems to be more and more cars. I just don't get it. 

All I know if that if something happens to Softbank the Valley is going to be a little screwed. They own a little of everything around here." Original here.

I just didn't think things would blow up this way. But that's the funny thing about life."

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