Bloomberg notes that Son, flushed with cash, after he turned a $20 million bet on China’s Alibaba into a $120 billion, carelessly plowed billions of dollars into startups with limited consideration to valuation. For instance, Son had a meeting with a Chinese artificial intelligence startup, called SenseTime Group, who asked the billionaire and SoftBank executives for several hundred million dollars. Son told SenseTime that he would give them $2 billion, but after some rejection from SoftBank managers, Vision Fund put in $1 billion, nearly 5x of what was requested at the beginning of the meeting.
https://www.zerohedge.com/markets/wework-fiasco-threatens-softbanks-very-existence
