The conglomerate SoftBank Group recorded its first loss in 14 years, according to its latest earnings report. Its $100 billion “Vision Fund” just lost $8.9 billion, and the company overall lost $6.5 billion.
SoftBank's crown jewels, Uber and WeWork, which are hemorrhaging money, are largely to blame. Perhaps to quell the public’s fears, SoftBank put together a slide presentation in which it showed its path to profitability with WeWork. In traditional SoftBank fashion, the slides are … ridiculous:
All WeWork has to do is grow its gross profits, reduce operating expenses, and it'll be saved! These highly unspecific and hypothetical slides is rich, delusional even, considering that it's not clear if there is anything to save at WeWork to begin with. Here is SoftBank’s answer despite the multi-billion dollar losses, write-downs, and looming layoffs at WeWork:
Good to know!
This is probably a good time to also introduce you to SoftBank's "30-Year Vision" released in 2010 by Masayoshi Son. We can only choose a few choice slides, but I encourage you to read the whole thing because it reads like a bad impression of Hideo Kojima’s Metal Gear Solid series.
I love it.
All of these slides are real!