Masayoshi Son ‘ashamed’ of focus on profits – SoftBank logs record $23bn loss

According to CNBC, for Vision Fund 1: &quot;More than half of the money comes from contributors like Apple, Qualcomm, Oracle founder Larry Ellison, and the Public Investment Fund of the Kingdom of Saudi Arabia.&quot;<p>So I guess I don&#x27;t feel too bad about the money party not working out.

&gt; 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.<p>&gt; 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.”

As I recall he did exactly the same thing during 2000 Internet boom&#x2F;bust.

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