Michael and Johnny continue their discussion on SoftBank, focusing on their Vision Fund, their impact on the startup world, and more recently their adventures in the US stock market.
In the News of the Week, the Chinese government delays Ant Group's IPO in a bid to introduce further regulation; and Proposition 22 passes in California which will allow gig workers the flexibility they desire with additional benefits.
Recorded Date: Sunday, November 8, 2020
Time Stamps
- 00:00:18: News of the Week
- 00:06:22: Follow the money vision fund structure
- 00:11:28: What happens when you throw money around?
- 00:13:30: King Maker or Bubble Maker?
Highlights
- Ant Group's record IPO has been delayed by the Chinese government so they can introduce stricter regulations
- Proposition 22 passed in California - the areas that voted against it were mostly in the tech-based counties
- Does tech continue to be out of touch with its users?
- We need to have more compassion, not just more empathy
- Inspired by Son, Johnny has a $100 M vision for our podcast
- SoftBank has to return $120 B in returns for it to break even in its Vision Fund I venture
- SoftBank has diversified its money-making operations, becoming one of the largest options traders in the US stock market
- Is this another example of an out of control founder with a practically unlimited money fund?
- Do people still trust SoftBank's investing decisions enough to follow them? Has their recent track record hurt them?
- SoftBank is a net giver of opportunities via the investments they make - not everyone is mature enough to handle those opportunities
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