SoftBank Vision funds post record $39B annual loss

Post by Apocryphon » Thu, May 11, 2023, 10:10 PM UTC

maerF0x0 wrote: post #85

Mistletoe wrote: post #75

Earlier quoted context omitted.

The poor and middle class don't have investments. Source: all my co-workers and girlfriend's relatives that meet me with blank stares when I ask if they are saving for their retirement or maxing the company match for the 401k. Not judging that- the reality is somewhere in between they can't afford to do much but stay alive due to inflation and housing costs out of control and that they need to stop getting $7 Dutch B…

This is one thing that terrifies me. I'm sacrificing today to save for tomorrow while the masses are doing the opposite. And in a decade or 3 when I have assets they can out vote me and take it all back via taxes or rules that change the game Some examples are like - I paid off my student debt by not going to coachella or doing optional things (that I observed others doing). They might get it cancelled for free. They…

Post by [deleted] » Thu, May 11, 2023, 10:29 PM UTC

grumple wrote: post #74

korm wrote: post #49

Earlier quoted context omitted.

Not OP but it is often the case around London, UK. Half price isn't an exaggeration! Better cars usually too.

When I was in London a few weeks ago the taxi prices were 2-3x the uber prices. Also they'd tell you to fuck off if they didn't want to take you to that location.

Post by lotsofpulp » Thu, May 11, 2023, 10:30 PM UTC

httpz wrote: post #62

cs702 wrote: post #21

...on around $100B of capital raised. i.e., -39%. Poof! So far. -- For those here who don't know, Masayoshi Son almost lost everything in the dotcom bust of 2000-2002. A single investment saved him from ruin back then: Alibaba. Was that luck or skill? In hindsight, it looks a lot like luck to me. Either way, he's clearly a bet-the-farm-and-actually-can-lose-the-farm kind of guy.

He started from nothing and he's still a billionaire so I wouldn't just dismiss him like that. He's just a different type of businessman who likes making big risky bets.

Post by lotsofpulp » Thu, May 11, 2023, 10:34 PM UTC

noizejoy wrote: post #65

Has anyone seen an analysis of what percentage of economic activity is just redistribution of wealth more adjacent to gambling, compared to economic activity that is more tightly coupled to cost of delivering goods and services? And just in case it’s not obvious: This question comes to mind as I would categorize SoftBank pretty firmly in the gambling niche - at least compared to a local plumber or Uber driver.

Post by prepend » Thu, May 11, 2023, 10:37 PM UTC

bryant wrote: post #71

prepend wrote: post #60

Earlier quoted context omitted.

Sadly, taxis were never both until Uber. Even in Manhattan, getting a taxi at 2am was a crap shoot. I can an Uber in the suburbs at 2am anywhere in the country. That’s neat.

> Even in Manhattan, getting a taxi at 2am was a crap shoot. I can an Uber in the suburbs at 2am anywhere in the country. You certainly can call an uber, yes. Whether they come through or whether they find a suitable reason to cancel on you... that's a crapshoot.