SoftBank just lost billions in one quarter, thanks to the so-called 'tech wreck'.
👉 Background: Despite the name, SoftBank isn’t actually a bank, it’s an investment firm based in Japan with over $100bn in capital. It has invested a lotin Silicon Valley over the years and had a lotta success.
👉 What happened: SoftBank has been a major investor in some famous and infamous tech companies. Think: Uber, WeWork, Alibaba, Doordash, Klarna and the list goes on. In May 2021, SoftBank was celebrating the biggest profit in the history of a Japanese company (~$46bn USD FYI).
👉 What else: But oh how times have changed. SoftBank just lost $33 billion bucks in one quarter thanks to the so-called 'tech wreck'. Now CEO Masayoshi Son has come out with a public apology, saying he’s embarrassed.
💡 Every investor takes a different path on their journey to achieving financial success. It depends on a few factors like the investor's:
💡Take Warren Buffett - he’s known as a value investor. That means he loves to snag a bargain, so he mainly stayed on the sidelines while the share market was running hot during COVID.
💡Masayoshi Son and SoftBank favour growth investing, so they went all in during COVID. And what goes up... often comes down.
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