S&P Global Ratings just called Masayoshi Son’s bluff in epic ways, making life that much more difficult for the SoftBank billionaire’s empire.
$100 billion Vision Fund
The 2022 Apple TV+ show that dramatized Neumann’s rise and fall, “WeCrashed,” could’ve easily been titled “HowConned Tech’s Biggest Financier.” In the time since that show, and the year before it, Son’s Vision Fund has been in retrenchment mode. . Written between the lines in bold font was the risks inherent to Son’s strategy of splashing billions on cash-burning startups everywhere. The wreckage from WeWork and other startups that failed to deliver stymied Son’s desire to raise a second massive fund.
It’s less a dialogue than a war of words. But rather than lashing out at the messenger, Son’s inner circle might consider a look in the mirror.
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