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SoftBank's Son leaves Alibaba board following Ma's departure

WSJ What's News

00:31 sec | Last week

SoftBank's Son leaves Alibaba board following Ma's departure

"We begin in Tokyo with a story involving two of the most powerful entrepreneurs in the world. Masayoshi Sun CEO of the Japanese technology conglomerate Softbank announced today. He stepping down from the board of Chinese ECOMMERCE giant, Alibaba his departure comes after it was revealed last month, Ali Baba's Cofounder Jack Ma was leaving soft bank's board Softbank has come under pressure for investments in troubled startups, such as we work in

Cofounder Jack Ma Alibaba Ali Baba Softbank Tokyo CEO SUN
SoftBank-backed ride-hailing firm Grab cuts staff to cope with virus impact

BTV Simulcast

00:41 sec | 2 weeks ago

SoftBank-backed ride-hailing firm Grab cuts staff to cope with virus impact

"Just quit breaking news line on grab I grab is the ride hailing food delivery service in Southeast Asia is one of the but one of the biggest as sort of fact told by companies that the ride hailing company they're gonna cut five percent of their employees it's another setback because of course they are backed by softbank and softbank to think about it uber Didi here we go with grab five percent of the total work force is going to be at call back this is one of the most one of the most at yeah I I suppose valuable companies in Southeast Asia so another another blow to my A. R. C. song in terms of the portfolio of holdings and that they invest about three billion dollars in grab billions more into that and

Southeast Asia Softbank
You may have heard this before: Venture capital investing is not very diverse

Marketplace Tech with Molly Wood

03:08 min | Last month

You may have heard this before: Venture capital investing is not very diverse

"Earlier in this week we talked about how the tech industry should either hire more people of color or invest in them higher or wire on that ladder idea. The past few days have seen a few commitments from established venture funds. Softbank, launch. Day One hundred million dollar fund support people of Color Andriessen Horowitz launched at two point. Two Million Dollar Fund to support founders from quote underserved communities with a plan to expand it to fifteen million dollars over time, but if we're being honest here. That's not that much syrup. Kunst is the managing director of CLEO capital. They are real amounts of money, but compared to the size of the industry and the amount of underfunding that has happened. Black founders get less than two percent of all venture capital dollars, despite being fifteen percent of the population and starting companies at disproportionately high rates so that historical imbalance is certainly not going to be solved with you know these cumulative called one hundred fifteen million dollars in commitments that one hundred. Hundred fifteen million humility is already small, and then when you realize that it's not particularly earmarked for black or Hispanic, underrepresented minorities, you have to question how much is actually going to get into the hands of the people who you know have historically been underfunded the most right, and also, if we were talking about structural change, white year, mark money at all exactly and I think you know my fund cleo capital. We don't have a mandate around gender diversity that being said you know. Know, my portfolio is incredibly diverse. We have a lot of black founders. We have a lot of Asian and Indian in Hispanic founders. You know we. We have a lot of gay founders like we've. We just find great people and we invest in them, and they make us a lot of money are two best. Performing companies in the portfolio are founded by women of Color, and the other one is founded by a man of color and his business partner in both are immigrants the exact. Exact things that people are saying. How do we do it? How do we find it? We have to have this carve-out or this sort of remedial training or whatever it is, there are funds like mind that have just been able to do it and we're making a lot of money from doing it i. mean there's research that shows trillions of dollars is being left on the table by not investing in more founders of color like why isn't that economic argument working if nothing else? I mean we see the same thing with gender right I have been on NPR I've been on these shows a lot to talk about gender and race over the years, and we saw a lot of these same things after me to where you know, there's massive economic arguments right? There's only really two schools of thought you either fundamentally believe that only white men are capable of greatness, which is a really thought that I hope you're very quiet about or you're leaving money on the table, and there's not really another. There's not really another option, and and so I think. Think when people realize that, and when people except that, they say oh, I'm leaving money on the table. And by the way the job of venture capital is not to invest in a museum founders.

Cleo Capital Managing Director Andriessen Horowitz Softbank Partner
SoftBank to launch $100M fund backing companies led by people of color

News and Perspective with Tom Hutyler

00:19 sec | Last month

SoftBank to launch $100M fund backing companies led by people of color

"In a letter to employees softbank CEO Marcello Clery says the Japan based global technology investment company it will create a one hundred million dollar fund that will only invest in companies led by founders and entrepreneurs of color the opportunity growth fund will focus on companies that use technology to disrupt traditional business models

Marcello Clery Softbank CEO Japan
Asian stocks up on hopes for vaccine and economies reopening

Bloomberg Daybreak

00:44 sec | Last month

Asian stocks up on hopes for vaccine and economies reopening

"Thanks in Asia stocks posted their biggest gain in more than three weeks we get the recap from Bloomberg's Juliette Sally in Singapore good morning I think hard Estrellita Japanese stocks closed at their highest levels in ten weeks on the vaccine hopes but softbank shares came under pressure in Tokyo as the company closed in on a deal to sell about twenty billion dollars of it still can T. mobile China's CSI three hundred up eight tenths of one percent south Korea's KOSPI up more than two percent airline stocks in Seoul receiving a boost as plane travel creeps back with bubble cardinals in currencies the Indonesian rupiah strengthened after the central bank may cut rates to four point two five percent well the Taiwan dollar snapped its longest losing streak in six weeks and India's replaced up to three days of losses as the dollar weakened amid the risk on

Bloomberg Juliette Sally Tokyo T. Mobile China Korea Seoul India Asia Singapore Softbank Taiwan
"softbank" Discussed on WSJ Tech News Briefing

WSJ Tech News Briefing

09:27 min | Last month

"softbank" Discussed on WSJ Tech News Briefing

"And stay informed in the past four decades. Softbank Group has made a name for itself as one of the biggest names in tech investing since twenty. Seventeen it's been pursuing an aggressive strategy of throwing huge sums of money early stage startups in the digital space through its vision fund on Monday. Soft Bank reported its results for the twenty one thousand nine fiscal year giving us insight into how it's impacted by the pandemic and also whether it's investment strategy has been paying off our reporter. Rolfe winkler has the latest and he joins us now. Thanks for being with us here. All right so Ralph. Before Softbank even posted its results had told investors to expect a seventeen billion dollar writedown. Can you tell us about the actual results? That was the key result. They had forecast a lot of this for the year. Softbank ended up with nine billion dollar loss when you factor in the investment results with all all the other stuff they have going on including their operations. The other things that happened Jack. Ma who is the founder of Alibaba was on the Board of Softbank? He's leaving the board. That was a key thing we learned today. And oh by the way they're also pairing back some of their stake in T. mobile which they got with the merger with sprint. They're also paying back. Some of their alibaba stake. Which is why a reason Jack. Mosley the soft bank board. So do these announcements. Give us any more clues as to where Softbank is right now. Sure what we know about Softbank is that it's a bit over levered. They've got a lot of debt so they have to repair their balance sheet. They have to sell down some asset. So they can pay off some debt but also they want to buy back a lot of stock. That's that's a main thing that's going on. Ever since Elliott management the activist investor got involved and encouraged the company to go ahead and do do some share buybacks. Why did they want to do that? Boost the price boost the stock price. A lot of times activist investors. Their goal is to in effect lever up a company. If you use the cash to buy back stock you're in effect increasing the ability of the company to boost. Its return on equity right. If you believe in the future of the company if you buy back stock the people who continue to hold the stock their returns will be boosted. So let's zoom in on the Vision Fund. This is things flagship fund as it. Were you told us in yesterday's show that Softbank had taken on a risky strategy for this fund from the very start that they were funneling huge sums of money into early stage companies. How Did the Vision Fund Fair and twenty nine hundred not well? They had a whole bunch of big issues. I mean the biggest issue. Everybody knows we work. The the Shared Office Space Company. They just collapsed. It's very easy to grow quickly. A LOT OF START UPS. Lot of private tech companies have done this. They've grown quickly. Can you call it a tech company? You can't but nevertheless it's still part of this universe. They've grown quickly by you. Know selling a dollar for eighty cents. You LOSE MONEY. You can grow fast. And we work did that like crazy signing a whole bunch of long-term leases renting out space and just growing and growing and growing with an eye toward profitability sometime in the distant future That was actually a common theme of a lot of Softbank investments. Where they're just growing at all cost. Never mind the bottom line. This is all gonNa make sense in the future. The problem is when we work happened and the public market said you know we're not going to buy the shares we're not GonNa let you IPO. We're not interested in a company. Losing this much money. Well then all of a sudden some muscle realizes wait a minute the invest strategy. I've had for all of my companies. I mean I've got to get an exit to I've got to be able to sell these companies off. Eventually most of them many of them probably by via an IPO and the public market is telling him growth at all. Costs is not what we're going pay for. He had to readjust his strategy. And that is what happened towards the last fall into the end of last year and then by the way Kovin just hammered them even more because a lot of their top investments are really invulnerable industries. I was GONNA say we're talking about twenty nineteen but we've obviously seen in the first three months of this year a lot of those companies that they'd put big money into Uber for example also Taking a massive head. What are they looking like For the first quarter good question So for the first quarter I do. The quarter ended march. That's what they just reported. They had a lot of down there because of course at the end of March that's when the market had declined quite a bit now. It's come back a lot in the second quarter. A lot of stimulus has brought has brought stocks back so you can see them writing up the evaluation of some of their investments here in the current quarter. Which could could help them that said the actual fundamentals of the businesses in which they've invested a lot of them are in deep trouble. Uber said Monday they were GONNA lay off another. Three thousand people have already said. We're GONNA have thirty seven hundred and the CEO said there. Ride hailing business. It's their core business off eighty percent four-fifths of the business gone and by the way the stock is up on the year. Go figure that. But that's a discussion for another podcast point being you know the long-term prospects for this business are maybe they're better? Maybe more people will get in a car and that's why this versus getting on public transit and that's why the stocks up but for the moment they're just bleeding badly and that's true of a lot of their investments. They've got three of their biggest. Investments are ride hailing deedee in China Uber and then grab in Southeast Asia. Then you have oil hotel and homes in India which has seen a gigantic hit. It's business down fifty to sixty percent. Of course there's we work in there which has also you know they already had problems last fall and you know you WanNa talk about the business. That's going to struggle in the middle of a pandemic take one that's been signing long term leases to sub lease office space and everyone then goes and works from home. Yeah and I think what you brought up earlier is really a big question. You know the idea of throwing money at visionary leaders who weren't profitable but had big ideas that were disrupting industries was really the focus of the Vision Fund. That was already kind of coming to an end before the pandemic. What does this mean for tack and for those kind of innovative industry changing ideas in the future? Are they going to see less money available to them? No I don't think so. In fact you could make an argument that they may see more money right now because again stimulus the amount of money that's flowing into the economy that's being printed is epic and that money's going to want to find a return in a in a zero interest rate environment. A lot of that's going to go to tech especially since tech is benefiting parts of tech are going to benefit dramatically from working from home. The thing that's to note about softening strategy investing in visionary founders. That's what venture capital is all about often people who haven't figured business model out yet aren't making money. You're just betting on someone who you think is smart and is going to solve a big problem but historically the way that works. Is You bet on that person at the beginning you you give them a big valuation. You know okay. The businesses in theory at but. I think you're smart. I'm going to give you twenty million dollars here and so and by the way. Masa did that famously. With Jack Ma. Alibaba twenty million dollar investment early on turns into an amazingly huge lucrative investment. Down the line that's true venture capital early stage. The problem with Softbank is what he decided to do was he would throw a whole bunch of money at the visionary founders later in their life cycle. So they're they're much more mature companies even though they're much larger companies even though they're larger they haven't yet matured to the stage where they can make money. They're not yet profitable and they have. They haven't yet settled on that business model even though they're very late in their in their development by most startup standards. And so you're sort of taking hall of the risk of venture capital model right betting on somebody who doesn't have a subtle business model and compounding it by adding the risk of late stage growth investing at a high valuation. When you don't have a lot of people who can come after you and by the way in illiquid stock in private companies. You can't easily sell to someone else so it was just really not a good recipe from the beginning so all that said. Softbank has been planning to raise cash for a second vision fund. How likely does that seem now? That was basically dead earlier this year and Masa even said on when when they reported earnings said. It's not going well quote. Sometimes I get asked the funding for Vision Fund to is. Okay said Mr sewn quote. It's not the reality. Is THEY A second vision? Fund mostly using their body using. Softbank has some money but they weren't able to get money from outside investors. Who Just said you know what we've put enough money into your strategy and it's time for that first fun to generate some returns get a similar quantity before we decide to give you any more all right our partner. Ralph Winkler thank you so much for joining us. Thank you okay before we go there still time to share your work from home tech stories and questions with us..

Softbank Group Vision Fund Jack Ma Alibaba Rolfe winkler Ralph Shared Office Space Company reporter Ma Mosley Elliott India T. mobile Southeast Asia Kovin sprint partner
Disney streaming chief Kevin Mayer resigns to become TikTok CEO

WSJ Tech News Briefing

00:26 sec | Last month

Disney streaming chief Kevin Mayer resigns to become TikTok CEO

"The video platform Tick Tock announced on Monday that. It's getting a new. Ceo The Disney executive. Having mayor at Disney mayor had been in charge of the streaming service Disney plus and he'd actually been passed over to replace Bob Iger as the chief of Disney earlier this year. Now Mary is joining. Tick Tock Parent Company. Bite dance as COO where he'll lead global expansion in its music and gaming businesses and of course as the head of tech talk

Disney Bob Iger COO CEO Executive Mary
Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook

Bloomberg Opinion

00:36 sec | Last month

Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook

"OPEC plus is responding to the oil markets collapse with urgency never seen before data show the program of production cutbacks this month as well on the way to trimming nine point seven million barrels of daily crude output that's about ten percent of global supplies and that's just in the first two weeks of the agreement yet worries at the heart of the hurried for Saudi Arabia's sovereign wealth fund which is central to the kingdom's economic overhaul the crisis has even forced it to find new ways to unlock liquidity we're hearing it's planning to borrow about ten billion dollars by pledging stakes in softbank group's technology investment vehicle as

Opec Saudi Arabia Softbank Group
Coronavirus: How Companies Around The Globe Are Responding

Squawk Pod

07:17 min | 2 months ago

Coronavirus: How Companies Around The Globe Are Responding

"First up today on the PODCAST. The troubled travel industry and what it could indicate about the way. Large companies find their way out of the economic crisis presented by the corona virus internal memos from United Airlines forced to park jets. Do the extreme lack of travel demand. Show that the company plans to cut about thirty percent of its management jobs later this year and united warned pilots to prepare for what it calls a displacement that will impact about thirty percent of that workforce. United has accepted. Us government aid and as a result agreed not to make any job or pay cuts before September thirtieth. Remember that date white collar job cuts are coming. The United Airlines Syllabus joins us now with more good morning bill. Hey Joe this is the first what we will see likely for the entire airline industry. Play out over the next several months yesterday united told all of its management and administrative employees about eleven thousand in the entire company. That at least at least thirty percent of those jobs will be eliminated starting October first. Now the rest of the company and other ninety thousand were also receiving a memo and essentially in that memo. They said there will be changes. There also reports that separately. The pilots were told it could be as many as thirty percent of their jobs will be cut in the fall remember. It's just a couple of weeks ago. That United Airlines received approximately five billion dollars through the cares act that is included in there was three and a half billion in a grant money that was given directly to them from the Treasury Department in addition to a loan that they took off from the Treasury Department the condition on that loan and on the money that was given to them as part of a grant was. You can't fire anybody. You can't have mass layoffs before September thirtieth but to be clear united and really every single airline has been forecasting that there will be job cuts down the road so they needed this money to keep everybody employed at least September thirtieth but after September thirtieth united is now saying at least thirty percent of the white collar jobs going you'll see thousands more in terms of frontline employees as well and they're also trying to as much as possible. Cut The cost here. They told the machine Friday. Your hours are going to go down twenty five percent which is contractually allowed going from forty hours a week down to thirty hours a week. Guys this is what the airline industry is doing right now. It has the money in place to at least keep operations and employed through September thirtieth. But unless things change and it's not expected to anytime soon there will be other airlines announcing similar types of job cuts in the weeks and months ahead. Hey fell just in terms of being able to cut ours. Does that count to to to. Can you take the money and then say okay? We're not laying anybody off. But I'm GonNa take away twenty five percent of everybody's hours that's contractually contractually allowed and there are a number of people. Senator actually allowed the by the by the contract with airlines consecutively. Between while you're now you're getting into the spirit of the law. The spirit of the Law United said at the time when they took out the cares look. We're not going to be cutting hours or cutting pay and jobs. Well they certainly have not cut the jobs in terms of the pay. You're getting into this gray area in terms of what's allowed under the contract collective bargaining agreement between the machinists union and United Airlines and. Clearly united believes that. Look we're allowed to this contract to go from forty hours a week. Guaranteed could go as low as twenty two hours a week. We've told the union you're going to go down to thirty hours a week so They're they're certainly many machinists. Who are not happy about this. I reached out to united over the weekend. And they said look this is contractually allowed and what you have is an airline here. And they're not the only one guys I know of everyone's saying well. Why is you doing this? You will see this almost with every airline that they are doing whatever they want to cut their costs as quickly as possible. Phil but this goes to me. This goes back to the debate we had when we were. We were providing these loans right. Who's to say at the time? Even internally inside these airlines there was an expectation that they were going to have to lay people off even as they were taking the loans and so yes as we were saying and we sit on there many times. This program really saves the shareholders but doesn't necessarily shea saved the employees and the whole goal of course was to save employees. More than anything else. We were trying to keep employees in business. They airlines could have gone through bankruptcy. Gone out the other side and still kept the planes in the air obviously with less employees and so the question I have is. How do you think airline execs are going to respond to the public? When ten twenty percent whatever percent we think are going to employees are no longer on the payrolls. Come this fall. I think the executives will do the same thing that been doing from day. One Andrew Weaver at the White House when all of the airlines. Ceo's were called in every single one. Every single one said the same thing. Which is we need to make dramatic changes in fact while we were there united was saying. Look we're going to be having a number of employees thousands of employees taking unpaid leaves of absences because we need to cut the cost dramatically immediately and they even said at the time Andrew Kid. The money is appreciated. It is to keep the operations to keep going into bankruptcy immediately but we unless things change we will need to make changes in how many people work for each airline so yeah. Is there going to be backlash? Absolutely will people sit there? And how yeah? The airlines are not beloved anyhow by many people. I mean people criticize them on a number of fronts. This will be one more where they say they took the money and now they cut the jobs but to be clear. They warned all along. These job cuts are going to be necessary. It was it was known six weeks ago. It was known at the very time. That's the only point known is trying to get. It was known as they walked into the White House. It was known as they walked out of the White House. Exactly okay thanks. We have some other news in sort of high profile corporate personality category we works CO founder. Adam Newman filed a lawsuit last night against Softbank in its Vision Fund over that failed three billion dollar tender offer last month. Softbank said it would not move forward with the tender offer because several preconditions not the mad that frustrated minority shareholders including as you might imagine newman who were expecting a payout. Adam Newman expecting that. Pay Out of a billion dollars if you really read through the lawsuit and it's very similar to the same. There was another suit that had been brought against the company by the Special Committee of we work which was representing the minority shareholders. Did your boasts joins us with more on that story. Deidra Andrew dramatic and of course just the latest in this ongoing. We Work Softbank Saga. Now Adam Newman's complaint alleges that Softbank quote doubled down on their abuse of power and argues that its deteriorating. Financial position influenced its decision to renege on its obligations net. One remember that would have seen. Adam Newman receive nine hundred seventy million

United Airlines Adam Newman United Airlines Syllabus White House Softbank United United States Machinists Union Treasury Department JOE Andrew Weaver Deidra Andrew Senator Andrew Kid Special Committee Shea Phil
SoftBank sees $8.4 billion net loss on WeWork writedown

BTV Simulcast

00:22 sec | 2 months ago

SoftBank sees $8.4 billion net loss on WeWork writedown

"Softbank has widened its net loss for calls for the fiscal year through March by twenty percent to nine hundred billion yen that's around eight and a half billion dollars my son has been struggling with the fact of the corner bars and got it from me what but despite the for conservation shares in some bank rose in

Softbank
SoftBank terminates $3 billion WeWork tender offer

Bloomberg Daybreak: Europe

00:20 sec | 3 months ago

SoftBank terminates $3 billion WeWork tender offer

"News softbank a scrapping an agreement to buy three billion dollars of we what stock the Japanese conglomerate agreed to buy the shares of this full with Sierra Adam Neumann and other shareholders lost it was possible bailout package for the struggling co working firm softbank notify child is a mid March the conditions for the deal hadn't been

Sierra Adam Neumann Softbank
How AI Will Impact the Future of Digital Marketing | Ep.

Marketing School

05:17 min | 3 months ago

How AI Will Impact the Future of Digital Marketing | Ep.

"Welcome to another episode of Marketing School. I'm Eric Su and I'm meal and today we're going to talk about how I or artificial intelligence will impact the future of digital marketing. So let's preface this a little bit. A obviously is artificial intelligence. A lot of people are talking about machine learning. If you look at the biggest companies in the world right now you look at the googles the Amazons of the world the facebooks of the world all these companies. They're putting a ton of money into artificial intelligence because it is basically the future I think it is the final frontier of one of the most important. If not the most important invention humankind comes up with a WHO knows what's going to happen afterwards. You look at. We talked about Softbank Their Vision Fund. Masa son the founder of it. His whole thesis was to invest in companies that are centered around a now. I don't know if we work sitting around. Ai He claims it is but that remains to be seen right so if all these big companies all these smart people even the apples of the world are putting money into the question is. How's it going to impact the future of digital marketing? So Neil do you WANNA kick it off. Yes so I think about the world now. You're no longer Brosnan Internet and buying just off of your desktop computer laptop there's ipads now there's tablets there's mobile devices. There's voiced devices. Heck even rages are now starting to have smart technology built in same with Evans and stoves and all these types of things like toasters. You're gonNA start seeing integrated more and more right. Your car's already you're starting to have It's GonNa continue increasing over and over after time. And that's why Eric and I are really big in the Omni channel approach. But what you're gonNA start seeing when it comes to is. Your Fridge will do things I tell you that you're almost out of milk. And you get one brand but if you decide to switch other brand they'll send you a free sample arrive to your house in less than an hour through Amazon. And from there you'll be a happy camper new company would have got you as a customer in the leaving stats on data. Like seventy three percent of the people who switch enjoy drinking this brand and on top of that it is eighty three percent cheaper. You get what I mean like doing things like that. That's where you're going to start seeing artificial intelligence kick in. It's going to be all big data. How can computer it and give you recommendations based on what they know that you would like to simplify. I think some people tend to get scared when it's like artificial intelligence such a big word but at the end of the what's happening is you have computers basically looking at large data sets and they're analyzing it and they're they're giving you insights from it or maybe they're acting on insight sometimes so as an example. Ai Now where it can scan your body and and really detect you know if you might potentially have your risk for cancer and you know what kind in the future and there's also. This really reason actually new antibiotic that was developed from a and they were just looking over a hundred million data points right and they're just like at that point if it's so many data points human beings not really going to be able to get through that so you want to rely on a machine and the easiest way to look at. This is if you look at. This is a very simple way. You look a calculator you as a human being. Maybe you can do. Math decently well but a calculator forced to kind of do like a repetitive task. You know it's going to do it better than you. So that's basically what it is right. We've been seeing a lot of things get improved over time. That don't need that. Frankly use machines and they're better than human being so. How does this apply to digital marketing? What you WANNA look at ads. Smart bidding where a lot of people right in. There's a lot of paid media managers there. They're managing the bid on their own and in some cases are getting assistance from Google or facebook's kind of a and are saying hey maybe should be doing this. And then you know maybe you should be decreasing your bid cost here. You're losing too much money here. So there's a lot of insights that are going on what's going to happen in the future. I believe is that kind of authorization. Work is going to go for the machines and then the humans are going to be left to basically come up with more creative ideas and you know they don't have to do kind of the manual work around that the other thing you'll start seeing who is air will start leveraging database on what you like as well as your friends like to end up coming up with ideas on what you should see products and services because there's so much data that now. These companies have based off of Frederick described facebook. At how much data they know about you based on your friends so these are all things that you're going to start seeing integrated with marketing and a in the future. The real question is one. Is this all GonNa end up happening? I think Neil and we look at both of our. We have multiple products on the on the click flow side. At least you know. We're going to be leveraging. A lot of the data says that we haven't been able to tell people. Hey you should be writing this type of content should be adding these hypoc words. You don't want to do it for you. You should be reading this title tag dispatch description so I think a lot of marketing is going to be done for you by machines in the future because a lot of the people I mean they just need you know. They're they're short on resources that they need things done for you and I think you know you look at Ai. Leveraging data sets and saying hey. You should be doing this and we'll just do it for you. I think that's where you build leverage for the long term and that's why I think you know again. It sounds scary but AI. There's a lot of out of the box solutions. It doesn't mean it's not hard to do but it makes it a lot easier to execute on kind of what your vision might be so I recommend looking at Google's tensor flow and there's other solutions out there.

Google Facebook Eric Su Neil Marketing School Amazon Softbank Masa Evans Founder Cancer Brosnan Internet Frederick
Why Brandless Failed (Is This The End Of SoftBank?) | Ep.

Marketing School

04:41 min | 3 months ago

Why Brandless Failed (Is This The End Of SoftBank?) | Ep.

"To another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we are going to talk about why brand lists failed and if this is the end of Softbank so let me give you some context. Real quick brainless is a e commerce brown or was it e-commerce brand that raised about two hundred ninety two million dollars. According to Tech Crunch and a large chunk of that money came from Softbank I believe is about two hundred forty million dollars and some people say that you know maybe Softbank only gave up one hundred twenty million to them and then they decided to withhold other one twenty. Who knows what happened. But the key thing is they raised. A bunch of money and brand list is a website. I believe we talked about on this podcast before. But they would sell a bunch of brainless related things. Basically there wouldn't be a brown on it. So if you wanted to buy like green tea powder you can buy if you wanted by multivitamins you can buy. You WanNa buy cleanse kit. You can bite. It's like Amazon but very very cheap products you would pay. I think every product was nine dollars or so so actually heard about this from a couple of people that are raving about it but what ended up happening was she talks about softening for a second. Softbank is their vision. Fund is this one hundred billion dollar fund and they're trying to make it to invest in. You know moon shots and really trying to generate one trillion dollar return for their investors so they invest in Uber. They invested in companies like brand lists wag a lot of these different companies. We work you know there's a debacle. There they bought their IPO brainless. Actually shut down recently and just the economics weren't sustainable. So I mean that's the first thing right. You know you make something you know. People want low prices sure and it seemed like it was a good experience but at the end of the day the economics didn't work and I think that's one of the first things I'll continue on in a second but I want to give you the context there. Neil what are your thoughts yet? The other thing too is that you're seeing in the whole business world right now. People are spending too much for growth in their growing. All costs and people are now looking for profitability and sustainability with your marketing efforts. You can't just keep trying to grow. Grow grow just to have higher numbers higher valuations. If there's no light at the end of the tunnel shits does not gonNA work out. It's better to have slower growth and profitability than crazy fast growth. Yeah I mean you have to look at it from the perspective of investors to like Softbank if you look at them as a typical. Vc their incentives are to get you to push? They want to inject the capital. I and they want you to grow as quickly as possible now. This is why why they're kind of they're not doing well. I think they're trying to sell right now. They got investment from Softbank. Same thing with Bradley two. They were instructed to grow at all costs counted. The what Neal's talking about. But ideally when you're putting money into something you have a formula that's figured out brainless didn't have the unit economics out so if it's a third and you invest in third. It's still going to be a third at the end of the day right so you know what I would say is. There's actually a blog post out now. It's titled Debt is coming. I highly recommend that everyone reads it. Because you know giving an equity isn't the only way I think a lot of people are starting to move towards looking at data right you know you can do revenue base financing. There's a lot of companies out there that will you know they'll take like a percentage of your sales each month until you pay them back and then plus you know some interest but that's better than giving up equity if you have a formula that's figured out right if you don't have a former that's fit about maybe you give up some equity but in some cases like this is just like dude. You have no formula figured out you gave up a bunch of equity and look at where you are now which is shutdown. You'RE GONNA be screwed really quickly if you don't have the formula right and even if you do have the formula right but it's not proven that has been running long enough and you think it's right things can turn really quickly like slow and steady really does win the race. More long-term you may not be the biggest in the short run. That's okay but at least you'll be around five ten years from now you'll be crushing it yet. I highly recommend everyone read up. There's a ton of content right now on the Wall Street Journal About Softbank. And it's the story is fascinating. It just seems like you know I really respect. What Masa Son has done really aggressive? And he's accomplished a lot right. But you look at this this vision fund right now from the top of the person running. It seems like there's a lot of under scandals going on internally and then just these kind of big bets that they seem like they're not working out right now you look at we work look at wag look at brainless. There's another sort of the invested in Ohio a y and then God what else is going on. Uber SEEMS TO BE GETTING BETTER. Over was a big bet on their side too so getting. I think oil is doing pretty well from what I've read yet. You look at the regions that they've been in for a wild they're profitable it's in your regions like China's of the role that are not profitable in. But if you look at per territory. They're doing quite well and many of them

Softbank Uber Neil Patel Marketing School Amazon Eric Su China Wall Street Journal Ohio Neal Bradley
SoftBank lays ground to abandon $3 billion WeWork tender offer

BTV Simulcast

00:25 sec | 3 months ago

SoftBank lays ground to abandon $3 billion WeWork tender offer

"Hands softbank fell the most since twenty twelve after S. and P. global ratings cut its outlook to negative citing broad market declines and the conglomerate's plan to spend almost five billion dollars buying back its shares agency is questioning softbank's financial priorities and falling markets softbank itself may back out of buying three billion dollars of we work stock as part of a rescue deal following a failed IPO

S. Softbank
No Longer a Pizza Maker, Softbank Portfolio Company Zume Flounders

Business Wars Daily

02:52 min | 4 months ago

No Longer a Pizza Maker, Softbank Portfolio Company Zume Flounders

"If you listen to our recent miniseries we crashed. You heard a lot about Softbank. The giant investment firm that funded. We work and we talked about Softbank here last week in our episode about brainless. That's the consumer goods startup that Softbank recently shuttered today. We're looking at yet. Another Softbank portfolio firm that launched with a lot of hype but that is struggling. Now that would be zoom the Silicon Valley company that promised to transform the pizza business by using robots to cook your Pepperoni Pie enough from a tech enabled warehouse somewhere. No from a mobile kitchen while on route to your living room cooking on a delivery truck. Zoom said. You'd get your pizza fast in the ultracompetitive pizza delivery business. A couple of minutes shave from your delivery time. GimMe all the difference for pizza chains competing to win your cash. Robotic pizza making sounded like a good idea. Softbank certainly thought so. The firm run by fame venture capitalist Masayoshi Sun invested three hundred. Seventy five million dollars zoom. The money came from its Softbank Vision Fund notably the one that funded. We work in brainless lists the ill-fated Company. We told you about last week. At the end of two thousand eighteen investors valued soon pizza at more than two billion dollars even more striking only three months ago. Ceo Alex Garden was arguing. It's true value was double that you were seeking additional new funding evaluation of four billion dollars. According to recode from what great heights we fall and hurt workers along the way in early. January zoom laid off three hundred sixty people eighty percent of its staff it closed zoom pizza locations around Silicon Valley those robots. Don't Cook Pizza Anymore now. Zoom is positioning. The company is a robot powered supplier to the pizza industry. That is it's attempting to sell compostable pizza boxes and automation systems to its former rivals. Domino's pizza hut among other pizza chains. It's also pushing into other parts of the food industry with its mobile kitchens but reports since say Zoom has run into even more problems with its model. It turns out that it's compostable. Pizza boxes can't legally be used in some places Bloomberg Business Week reported. The boxes contain a chemical that the

Softbank Softbank Vision Fund Silicon Valley Bloomberg Alex Garden Ultracompetitive Domino CEO Masayoshi Sun
Why Our pH Levels Are Important

Birthday Skin

09:42 min | 4 months ago

Why Our pH Levels Are Important

"Skimpy. H- h what is and she'll highs Jimmy notes sorry sorry. So P H- H. This is the boring but stuns for potential hydrogen and it's basically the acidity level of substance So as indicated by numerous scale and it runs from zero to fourteen with seven being neutral So I'm kind of going to go through in a bit like I thought you would fall asleep them. I'm going through a little scale and a beer. That kind of tells you what familiar thing you might see on a Ph neutral strongly alkaline and then strongly acidic so you can kind of just thought peace for yourself. How yes extremism so yeah? Anything below seven is acidic and anything above his alkaline. So for example lemon juice which is quite fitter agree here. That small noise just came out of my throat was off fall. It was a Burgh account. Bit CanNot Person. It felt where it's over the phone so anything below. Seven is acidic and even above alkaline. So-called little skin Ph scale here so obviously seven is you neutral Softbank in the middle if we're going towards see acidic side of the scale you've got four six which is were your black coffee. Oh delays zero to three contains. Lemon juice Wayne in at number two and strongly acidic way over number one ISCHGL buttery acid nice. Sa- quite acidic. Nice go enroll onto the side. You strongly Klein. You've got drain more drain cleaner. Sorry at fourteen at fourteen and then a no. I'm ammonia eleven. Yeah I WANNA say eleven seawater eight fan. It is very important to know that like the differences because it goes zero one. Two three four. This is a numeric scale. Like it's not linear Does that make sense? Yes so it means a tenfold increase multiplied by ten separates each P. number So a Ph of three is a hundred times more powerful than a Ph of five heck so is quite a big difference between a good old. Bob Jassat zero on your lemon juice to Medusa agenda. But you don't really put you. I don't think so. No no no so go into something. That sounds completely rogue. I'm GonNa talk about your Montel now. So basically our skin is Colbert a protective film on the surface surface so I called acid mantle and what this basically stop thinking of a mantelpiece grow up what this basically does is. It maintains skin's Ph levels and prevents infections. I'm trying to Mahara to be professional. This is just fucking route carry-on. I know you don't finish off. Even read wildlife abound tool pace. Even though that's funny carry on delivery the least for Nick thing off you go far enough. Whatever floats your boat anyway. So what you're acid mantle does is it maintains e skin's Ph level on prevents infection seals in moisture. Just quite. Let's be honest. Keeps the environmental aggressive? How do you know what that basically is? He skin barrier right. We should we rusted Montel. Oh you are segment so obviously. It's called your acid mantle so your skin should always be more on the acid side. Roth than alkaline. Which is why we can use acidic products and it not burn off faceoff right. He's like an alkaline. It would been probably dry skin. We're going to go into the layer. Okay so you okay. Yes so when you were born your skin is a solid seven is completely neutral when you're little baby. And then a few weeks after birth it starts like and a little bit more acidic so on this scale of God. So zero to three which is strongly acidic. And then you fall to six which says in hyphen skin goals. Oh yes it does. It does so. I've got this little quote from Polish choice. Which kind of sums up? The acid mantle plays a vital role by working with skin neutral. Ingredients like semis. Cholesterol enzymes swats and even our skin zone oil to protect skin surface and lower layers from external threats. Oh grand like that So what should it be? I'm quite a while I've been talking. This is not true for me. You'll miss science so like I said before. Our skin is on the acidic side because obviously of the said Monsell and the average age of human skin cells. We don't want this human skin is between. Can you mean gas? Pretend that you've not got the notes right. I'm not looking at it so I want to guess what the human skin Ph is yet. It needs to be on the a little bit of the acidic side and seven is neutral five more. Yes long in the middle so is between four point seven. Five point seven five. Oh five yeah so yeah with no in like absolutely everything else in our lives offered. Multiple diminishes with age becomes less acidic which means Dry Skin and wrinkles and fine line so I guess they do us when he skipped on the more alkaline side of the scale that you just get dry but reflect skin flick your buttery flaky. Crispy flaky correct. So I'm don now's million G. WanNa tell me jolly what your how to check or your skin pay indeed. We should have actually thought ahead of this. I'M GONNA go some Ham test right. I think it would be good content to support the episode. Yes let's do that. So if you listen to this on there's not a post op to support it. That move just been laziest football on. They will come probably in about six months CEO aims. How'd you chat which will p. h? As an so number one obvious one would say is visit a dermatologist. They can help test you and advise what kind of pro she would need. Only problems that you might be saying. Because if he I know over in America is different to here in the K. Because unless you went privately would have to be referred to a dermatologist. Their basic natural hospital rather than just saying on a book. An appointment with a dermatologist. Again Mush private but in the US near the EU obviously don't have the NHL so often a dermatologist will be in your health insurance or you can use that to go and see a dermatologist. So yet that was probably the hardest thing to do in the UK would not be able to get an appointment with a dermatologist. Just to see what your skin behaviors hypo. Can you tell me what in can I just get you to spend three thousand pounds on me checking my ph thanks Yeah no obviously. You'RE NOT GONNA be in the UK because is ridiculous waste of NHS doctors time they have much more important things to do than check your Ph So the next best thing would be getting some test strips. So you can buy strips to check Pretty much anything so your in new saliva but you can get one specifically for your skin. Safes as well so we will If you are inscribed birthday dot skin than you will be able to see how we get on checking our skimpy. Ho Ch but under the thing that you can do to check. I know it's very vague book Something that might be helpful. Is that just keeping a close eye on? Your skin is very important because soft skin. That doesn't really have any dry spell saw dry areas and is well balanced which is obviously when we're talking about skin type of combination and aims. You saw away the kind of oily in some areas dry in this There will products out there. Four rebalanced saying they can get some nice rebalancing oils is on that. Got The rebound album. Roya on you. So yeah if you do. Struggle with A difference in skin around different areas of your face. Then you are relatively imbalanced. Eber is Kinda easy to fix that and then any irritated skin there have acne Oregon readiness like I do meet skins. Probably lean in motos alkaline side. Which is obviously as aim said. Decide you don't really want to be on. You WanNa be more sick all so basically your drain cleaner and I'm lemon juice. Oh gorgeous

Dry Skin UK Softbank Mahara Jimmy Montel Eber Bob Jassat Klein Oregon Colbert Nick Monsell CEO Football America NHS United States HAM EU
Coronavirus corrections and the rise of remote work

Equity

09:23 min | 4 months ago

Coronavirus corrections and the rise of remote work

"Let's talk about the markets. There's no avoiding this. If you track technology if you track startups venture capital all that good stuff you see what happens to the public markets and in the last couple of days. It's been a complete shellacking. I think it's pretty much the only way to put it. We haven't seen declines at this magnitude in some time and it's gotten everyone in the talking about what's going on and what might happen next. Danny just giving you a gut check to the listeners. And all of our friends out there. How surprised are you by this eventual and kind of finally happened moment in the US stock market completely? Not surprised I mean I I I. We're not allowed to actively trade but I did trade my 401k portfolio into a money market fund. Like two weeks ago. So I'm quite pleased with the The the choice I actually sold at literally the peak a couple of weeks ago and so so I feel vindicated like my. My retirement is secure all five hundred dollars of it. I was GONNA say this is not actually a show designed to. Let's Brag but I'll give you three points for that one. I'm doing the old fashioned like long term investing. Keep your money where it is. Let it do whatever thing. So we'll see who's right in the end for people just catching up though if you're not active in the US stock market stocks have fallen tremendously over ten percent last couple of days and that was is really been kind of following the US news cycle so as the corona virus. The kind of thing that has come out of the disease world. I'm not a doctor that's best. I can do has become more prevalent both internationally closing more borders impacting more economies heritage anymore trade routes and also popping up here at home. Concern has risen. Also we're beginning to see impacts of the lengthy shuttering of large parts of China reflect it in trade and supply chain disruptions companies like Microsoft booking holdings which ones booking dot com and utanics have highlighted issues in their revenue and earnings coming up so the the slowdown is here after weeks of talking about any kind of expecting it and finally Goldman which you've all heard of they forecasted that. Us companies will have zero growth in twenty twenty which is pretty damning because growth is kind of what powers the stock market's expansion and that's kind of the the bad news. Sas companies are also taking a hit any. Am I missing any Any bad news here. Obviously people are dying Thousands of people are being marooned hundreds of millions in China and around. The world have been quarantined so those are the headlines but I I think what's interesting is is. There's there's two patterns here one is I want to focus in on zoom or let's call Zoom Zoom Zoom. The video conferencing software. That also helps us. Equity is having the best time of its Goddamn effing life so they they have doubled the stock value in just the last couple of weeks from the low sixty S in early December to about one hundred fourteen as a recording the show so eighty eighty dollars per cent and its market. Cap is now at almost thirty. Two billion dollars and I I I'm kind of annoyed by this. But it's Kinda funny just to point out that therefore pe ratio is four hundred. Thirty five right now and to Yahoo Finance has them as overvalued but I do think I do think the virus I mean the upshot of this is that because all the flights are being canceled. You know a ton of conferences. We just heard today that F. Eight the big facebook developer's conference were hearing. People are pulling out of the game developers conference. Sf next month GTC. There's even talk about Tokyo Olympics later this summer possibly being cancelled. I think we're actually going to see a huge gift around remote work. We talk about remote work. We've seen a lot of companies in recent justed around in a company. That's doing like remote conferences. But I think the virus is really going to force companies and decision makers to really ask like. Do you need to fly to do the sales meeting? Do you need to fly to this conference to learn something? Do you need to drive to a seminar and I? I do think we're going to see a shift in the economy where people go actually remote. We're Kinda works okay. We're we have tools and and and it's changed a lot last decade. Yeah I mean won't people might not know this but tech crunch itself as relatively remote I organization and my work history has been majority remote. I worked for with the next web for my first four years as a journalist and they were based in Amsterdam and I was in Chicago and then SF. I never went to the actual office once in that time period so to me this is relatively normal but I think for a lot of folks. He's always been discussed point. Not a re- realize reality so I'll be curious to see if that does work up. Certainly zoom other future of products and other companies. That kind of service people that are not in the same room might do well. I would say given zooms rapid value appreciation that racine's active trading as opposed to fundamental value. But certainly it's a stock to keep in mind if you haven't caught up on what's going on with red at Wall Street beds and the Stock Market. Take a look. It's kind of fun if you WANNA get a window into how the chat rooms of the nineties that helped pump stocks have now turned into semi closed at four. It's quite adventure zoom. I'm not saying it's part of that pump and dump world but it reminds me of some of the value appreciation. We've seen at other stocks that have him in the last couple of months. I think you know this is a question around Tesla. We brought up in a bunch of other stocks. Might take away from that is if you're trading over the counter OTC stocks penny stocks. Okay fine there's not a lot of liquidity. You can actually do a lot on the ticket and whatnot stocks. Let's zoom as an example thirty two billion market CAP company. You have to have a lot of money to move that share price one way or the other. If you're maybe maybe everyone's long and therefore like almost no one's willing to to sell and so therefore your your price gets kind of moved higher and higher but my my assumption is that that's not true and certainly for most of these big tech companies like Microsoft near trillion dollar market cap company. Like ain't no one can you. Can you can be you know. Warren Buffett Go. I'm going to buy the whole stock and the stock price will early move. That's the scale. I think we're talking about love the shares so it might change as the Margaret hits volatility and and whatnot but to me. It was blown way out of proportion. Well I hope so. That would mean there's less manipulation the stock market in values and more reasonable. So let's hope you're right but it is a fun story regardless but let's move along away from the main public markets to talk about a company that wants to join public company world which door dash after quite a long time of hearing to this company will go public kind of a needed win for both. Softbank And the Vision Fund Jordache filed confidentially to go public. And Danny. I want you to tell us the difference between filing to go public and filing privately to go public yes for companies that are under about a billion in revenue the jobs act plenty twelve allows startups to file basically there s one without having to do it publicly so generally speaking in the process you file publicly which means you literally to the web and then the SEC gives you feedback on that dock. You might make changes some some individual if you remember like what was a community adjusted revenue or some of these may not it was community adjusted so it was adjusted. Eba which is already super chested. Right brave ever GonNa give back on that. This purchase designed to encourage companies to go public earlier at least get feedback on there. S ones and to do it in such way like if if the numbers don't turn out well or some things get blocked by the SEC. You have time to sort of recover without kind of embarrassing yourself in public. The reason we actually find out about most of these confidential s ones that the bankers know that they're going to become real public wants and so the file confidentially then leaked to the press and go. Gee someone somewhere has filed something things about this one. Why would the companies do this? Well if you let these file privately when they're smaller it lets them a decrease in the amount of risk they take on making the on ramp to public markets have been easier and the number of companies has fallen sharply in the last. I forget the timeframe like ten twenty years. So this is a way to help. Bolster that number again and also with if you recall back to Osama's private IPO file or private direct listing filing. I guess technically they are putting out press releases saying we've done this. So they're they're filing privately telling you publicly they will go public but it's private for now and that's very twenty twenty but it's also. Kinda key dynamic to understand you look at the IPO market for this year. Now announcing your stealth fundraise. Yes very much like saying we have cool things over here. You may not see them. You're exactly it's the it's the sneaker drop it's yes it's the sneaker. That's the thing when shoes come out for a short period of time. I'm not cool. I turned thirty. I lost all ability to have coolness anymore. Now We're both in our thirties. Now which I think means that will never be cool again on door dash though Danny mentioned that if you have less than a certain amount of revenue you can file privately. Keep in mind that door dashes right about the sides so we have a suspicion that this was kind of the end of the time period in which they could file privately. Because they're about to be to Lart so let's get into the numbers and talk a little bit about what we have here. The company is worth around thirteen billion. But which is a large number not the most valuable private companies have ever seen we work at its Peak Uber Pre IPO. Those were both larger but certainly a decca corn and evaluate company. The company was valued at one point. Four billion in two thousand eighteen to give you understand how fast it's appreciated in value and that is driven by tons and tons of private capital often come in through the lens started after lengthy accounts of Division Fund but the company has attracted capital firm Kleiner and sequoia throughout its history. So a lot of backers. Put a lot of money this company for different reasons at different stages. But it's welland and it has some comps so we're not talking about a company completely abstract Danny. Just run us through some quickly and then we'll talk about its results. Yeah so I think the the the big cop here is so you know Oberlin public. We now have a lot of data from ubereats which is one of its sub business lines but in Q. Four thousand nine hundred ending December.

United States Danny China Microsoft SEC SAS Yahoo Facebook Warren Buffett CAP Olympics Chicago Lart Ubereats Racine Developer
Whats behind Jeff Bezos $10 billion climate plan?

Marketplace Tech with Molly Wood

03:28 min | 4 months ago

Whats behind Jeff Bezos $10 billion climate plan?

"Jeff as pledges ten billion dollars toward climate solutions. We have questions from American public media. This is marketplace tech demystifying digital economy. I'm Ali would. We don't have many details yet on the basis Earth Fund the ten billion dollars that Jeff Bezos pledged last week to address climate change but it is by far the largest philanthropic commitment that isn't from government and other investors in climate tech and solutions will tell you that while we need. Climate policies will and unity. We also need a whole lot of money. Jayco is managing director of the private equity firm. The Light Smith Group which focuses on adaptation technology and. I asked him where this ten billion dollars fits in the landscape of climate investment. Yeah so ten. Billion IS A big number. How you apply. Ten billion can dramatically change the scale capital. That actually is moved As a result. So there's a few initiatives like the Rockefeller Foundation's and Macarthur Foundation's focus on something. Catalytic capital where small amounts of concessional investment or even grant funding Can reduce the potential or perceived risk for commercial investors and encourage them in much larger scale to come in two different new investment strategies. They're this announcement was met with a lot of skepticism. And a lot of you know sort of Monday morning quarterbacking other things that Jeff bezos could do or should be doing. Do you think that's fair? I'm an all of kind of guy and so I think right now. If you really take the climate change problem seriously and I think we all should we face an enormous and potentially existential challenge to The way that life Operates here so I applaud this commitment and the scale of it is something is designed to signal that kind of seriousness. Would I think would be great? Would be to use it not simply just to double down on everything that we have now but to be thoughtful about how could mobilize even more funding. How could actually support targeted kinds of innovation? How could actually particularly support? I think The disadvantaged populations in developing countries out to. They're really going to be to the chin. Here I WANNA ask you about priority setting. What I'm curious about is whether this amount of money by it's sort of Sheer Hampton weight has the potential to create almost like a Softbank Effects. And so what? If as I said I'm going to use this fund for cricket meal would then a bunch of other things get neglected and cricket meal would take off if I could wave a magic one with ten billion? I would say that it should be done over a number of different years and then you should pick a variety of strategies where maybe half of it you double down on everything. That's working best right now just accelerated and then I would take a bunch of it and try to think about exactly what you're talking about. Which are are there one or two really important? Longshot ideas or longshot areas or areas of really important focus where this could have a dramatically important effect. Jayco is managing director of the Private Equity Investment Firm. The Light Smith Group BEZOS and Amazon. Haven't given any more information about how the Earth Fund will work but Bazo said on Instagram. That he expects to start making donations this

Jeff Bezos Jayco Earth Fund Managing Director Light Smith Group Private Equity Investment Firm ALI Rockefeller Foundation Bezos Macarthur Foundation Softbank Effects Bazo Amazon
T-Mobile, Sprint amend merger terms, SoftBank takes a hit

Morning News with Manda Factor and Gregg Hersholt

00:28 sec | 4 months ago

T-Mobile, Sprint amend merger terms, SoftBank takes a hit

"Sprint and T. mobile are changing the terms of the merger to get the deal closed more quickly the new terms would reduce the state of sprint shareholders softbank Japanese multinational conglomerate which now will hold twenty four percent of the new company instead of twenty seven percent is giving up nearly fifty million T. mobile shares that picked up in the merger I think at the back of the stock price hit certain goals the changes designed to avoid a potential sprint shareholder vote which could have held up the deal by

Sprint T. Mobile Softbank Japanese
"softbank" Discussed on Marketplace Tech with Molly Wood

Marketplace Tech with Molly Wood

05:16 min | 4 months ago

"softbank" Discussed on Marketplace Tech with Molly Wood

"Soft Bank's one hundred Billion Dollar Vision Fund started pumping tons of money into the tech startup scene around two thousand eighteen but has lost billions in recent months after the we work. Ipo disaster disappointing returns for Uber. Other Softbank back to companies have announced layoffs or shutdown recently and now Softbank Group is apparently putting billions of its own money to try to keep vision fund to going Pulkovski from S. K. ventures joins us again today to talk about what I called this burble in the startup economy. This definitely a bourboule going on. And it's it's a pretty big one. Because there's this general sense that the kinds of things that are venture investable are changing and the sorts of things that are becoming less investable. Are the things that need a lot of money like shared scooters shared workspaces any of these sorts of things that got by on the idea of We're GONNA have built up a lot of scale quickly and then sorted out later whether it's in the public markets are elsewhere are becoming difficult if not impossible to fund and then there's separate issues with respect to this this company you may have heard of called. Softbank whose problems are also rippling through at the same time. We do occasionally talk about this company. Softbank Really was eight. Hundred Pound Gorilla came in and could argue really distorted venture capital. Now what is the feeling now that everybody's realized like? Hey maybe they're actually not very good at this. Yeah I always analogize it. The kind of it was like the tooth fairy right. Where if you were nice and you were good and you'll have to under your pillow. Somehow money just showed up well. South thank was kind of like the tooth fairy of venture capital. Where if all of these mean? Vc's were showing up. And saying I want you to do X Y and Z. Entrepreneurs could say things like you know what? I just leave my business plan under the pillow. Money will show up from South Bank right and that tends to lead to some pretty bizarre behaviors because suddenly there is this thing backstopping an awful lot of the market which isn't very healthy and are in a risk market. Because it's supposed to be risky. There's not supposed to be a tooth very well. It seems like another double whammy to is that. Softbank invested loudly in some of those sharing type companies the platform companies and the ones. That really didn't perform very well. Is that part of why that category is tainted because maybe Softbank overemphasize the growth non-profit thing. Oh absolutely and when you find yourself thinking or you see competitors thinking hey that looks like a really good investment and you ask them why and they say well they can take a check. I could write them a check for fifty million when you start thinking about venture in check size terms rather than hey. That's a great company terms. You've got problems. No and Softbank. Because of the size of its funds was forced to think in check size terms and so the types of companies that need large checks are the companies like these sharing companies. Is there still? Though a giant pool of money venture firms raised bigger funds to try to compete with Softbank. There is still softbank money. Like how long is it going to take for this to play out? Oh there's still a great pool of money out there still always come back to some semblance of I'll say approximate normalcy the standpoint of the average entrepreneur with an interesting idea. It's probably still as fundable as ever. What's less fundable than ever is the sorts of things that require large checks and we all just hope one day that it sorts itself out. So it's it's actually only contracted back to a kind of normalcy and that's about Paulk. Address is an investor with S. K. Venter's now Softbank did have one good piece of news this month. The corporation not the venture fund spent twenty two billion dollars on a stake in sprint. Back in two thousand twelve now with the t mobile merger almost done maybe they break even for some related links for a little more reading on the current state of things that Softbank head over to our website. Marketplace Tech Dot Org an activist hedge fund called Elliott Management recently took a two and a half billion dollar stake in Softbank to try to push for change but perhaps there is no accounting for bad taste in investing Bloomberg had incredible account last week of Softbank. Three hundred and seventy five million dollar investment in Zum. Zee You Ami a business in which robots would make pizza and then cook the pizzas while they were out for delivery. So you'd always get a nice hot yummy pizza assuming that robots are awesome matt making pizzas one thing to know about stopping vision. Fund is that CEO Masayoshi. Son was pretty much always personally involved in deciding whether to invest so the Bloomberg story tells this crazy tale of climbing into this robot pizza truck and basically deciding to invest on the spot and the almost immediate decline of the company that follows in January zoom laid off more than half its employees and said it would pivot away from pizzas and robots completely. It's a corker of story. Muscle car racing is involved. I highly encourage you to read it and it has been a very busy technique already. So here's what else we're watching new segment.

Softbank Group Bloomberg South Bank S. K. ventures CEO Vc Z. Entrepreneurs Paulk Elliott Management S. K. Venter Masayoshi sprint Zee
"softbank" Discussed on Equity

Equity

02:00 min | 1 year ago

"softbank" Discussed on Equity

"And it was building up a following it had the some founder, CEO Tina Sharkey, who is a marketing whiz. But I don't think it had become clear breakout winner. When last year, it took on a very, very big round of funding which at the time, I think, started startled people because it was such a young company, it raised two hundred and forty million dollars, two hundred million of which came from our favourite big backer. Softbank and in exchange. Softbank took forty percent of the business. The company now according to the information has run into some trouble. I think basically from the point of SoftBank investing the money. It's last customers. I think it's customers are down an estimated like twenty five percent from this point year ago, they've had quality control issues. They've had some problems with inventory. These are all sort of like normal growing pains, I think, for a startup of its age, but, you know, you add to the mix this investor, who's got a lot of money in the company, and according to the information wants to see them, turn a profit and a lot of pressure on. Exactly. So I was interested. I mean friendless raised us two hundred and forty million dollar round, only one year after launching. So there are very young company, and then some now fast forward another year. Softbank is pressuring them to be profitable. But right now there are only two years old. So I mean what two year old start up is even at that point. What other SoftBank companies profitable? Yeah. I think when you when you look at this, I think for me is an investor. I don't know the ins and outs of what's happening here. Exactly. But for me, this just really underscores the importance of having. A very aligned set of goals, and missions, and values and everything else when you when you sign up to work with an investor. Right. I mean, the, the company and the investor or have to be sort of, in lockstep. And when you have it investor that hasn't been around for a really long time, you don't know how they're going to behave really in a downturn or when the company runs into bumps and I think that kind of behavior sort of through the highs. And the lows is a really important thing that founders and other investors need to take a very close. Look at one thing, what was interesting in the story at the very end, it said that SoftBank had been giving them that dot capital trenches Toronto Trump's in tranches..

Softbank Tina Sharkey founder CEO Trump forty million dollars forty million dollar twenty five percent forty percent two years one year two year
"softbank" Discussed on Equity

Equity

03:58 min | 1 year ago

"softbank" Discussed on Equity

"Everyone don't forget this episode is brought to you by shares post. It's an enormous enormous based, but we need to talk about really therapeutics which also raised four hundred million dollars from the Bishop fund this week puny round for the vision. Danny what is it about five hundred million four hundred million tunes? One quick mentioned so fair actually came that that investment that three hundred eighty five million came from SoftBank. And it's not yet in the vision fund. But it may be transferring that. And I'm not really sure why it does that sometimes get on. If you have any particular insight into this. But yes, so so the couple of elements one if you knew how the vision fund is structured, which a lot of people don't understand from the outside. Forty five billion comes from the the PIF fund, which is Saudi Arabia than a bunch comes from SoftBank mobile. The lava just Thermo without became in. Now, the guy fifteen million fifteen billion the guy from Saudi Arabia and Mubanga do have ITO rights. So in me talk about we woke lead on the show. That's what the exercising you need to get the approval to do it. So sometimes Masa says I don't wanna Wayne I'm going to go ahead and make mass not make it out of soft Bank. And then if they make any investment over a hundred million out of SoftBank the vision fund has the right to absorb it a some point. So this is to make sure that the vision fund has a fuss choice. So one of the things that could be happening. I don't know exactly is that he might not have gone through the process for the mission fund. So you'll expedited with SoftBank money and then we'll get absorbed later. But if if push back and say, no, which is what would be a hearing on we woke and he conduit, right? Okay. Interesting about lump sorry, Dan. Let's talk about relaying then we'll talk about we work really quickly. Yes. The relay is another biotechnology company, and I it's described as a protein motion research company. So the the the goal is to use certain serve molecular techniques in order to really celebrate drug discovery. And this is sort of similar to last week's discussion around cyber jet, which I believe gonna union talk a little bit about. I'm sorry. I don't know anything about really is really a direct competitor to Emerson. No. There was sort of in the same context. So in cyber Jin's case, they're trying to create these lead with molecular manufacturing machines again for the drug discovery process. But I think in both cases what's interesting heater. Is that SoftBank seems to have a kind of deep biotech thesis, which visually isn't, you know, kind of common they're usually in specialized firms, but at least that the gross stage. It seems like they're quite willing to cross over the chasm an invest in some very very deep technology startups. It's interesting. Yeah. We should definitely pay closer attention to that part of its portfolio there. We've talked so much about it's sort of fintech beds. And of course, it's logistical plays. But I haven't been paying close enough attention to biotech. And in fact, I was sort of surprised they put quite so much desire Burnden last week. Even though they were an earlier investor, but the company that they seem most sort of fascinated by as the banking was talking about is we? They I mean SoftBank. Plus, we work equals. But but it's interesting. So we're just saying so vacuous Abu Dhabi owns fifteen billion dollar stake. In this in the vision fund, Saudi Arabia owns a forty five billion dollar stake. I don't know that they've said no outright to Masayoshi sun, the CO SoftBank previously. I don't know if they're going to say no now, but the Wall Street Journal reported yesterday that he's been wanting to take a bigger stake a majority position in we work. And I guess the thinking is from what I've read they're not that excited about the idea because they see we work very much as a real estate play. They already own a lot of real estate, they're investing, and we work. I mean, excuse me, they're investing in SoftBank this in order to get more into sort of pure tech. Apparently. So there's an there's the Middle Eastern economy. A lot of people also don't realize how the investment is structured..

SoftBank Saudi Arabia Bishop fund SoftBank mobile Wayne Wall Street Journal Danny Middle Eastern Abu Dhabi Thermo PIF Masa Dan Jin Burnden Emerson Mubanga four hundred million dollars forty five billion dollar
"softbank" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

03:14 min | 1 year ago

"softbank" Discussed on Marketplace with Kai Ryssdal

"Softbank invest in Uber slack. We work Alibaba sprint. Softbank makes some of these bats through its hundred billion dollar venture capital fund. The biggest one ever created. It's supported in large part by a Saudi Arabian state owned fund, and it typically invest in companies that are already having success but need a big injection of cash. We work is a good example where they're now able to expand much more aggressively as a result of soft bank's capital. Softbank usually holds a minority stake in its companies, but in Indo gauche at NYU stern school of business says the conglomerates still has a lot of sway over them. Clearly, you know, when you injecting that amount of money tremendous amount of influence on the phone doors, and leadership companies know that soft bank's founder Masayoshi sun could always invest in their competitor Kenji Kushida is a researcher at Stanford Asia Pacific research center, if the company that he's invested in decides to. Go a very different direction. He can say, okay, visions, no longer a line. But my vision does align with this other companies I'm going to go with them instead. And if SoftBank raises that twenty one billion dollars in this IPO, it'll have even more bargaining power. I'm maryelle Sagarra for marketplace. We're expecting official were this week from the food and Drug administration than it's going to propose a ban on menthol cigarettes possibly slash probably along with some other restrictions on flavored e cigarettes, but announcing a new government policy and getting it done or two totally different things often with a whole lot of time in between as marketplace's Tracey Samuelson explains. When Scott Gottlieb became FDA Commissioner last year, he said he wanted tobacco to be one of the agency's main initiatives, but how quickly could the FDA make real changes? Well, when it comes to flavored e cigarettes, the agency has some wonky enforcement discretion it could use to essentially create a ban says Stephanie Miller with hike capital markets that would force removal of certain products. Lesson until the FDA approved them for those manufacturers to sell again on the market going through the FDA traditional rulemaking process would take much longer in August Commissioner co wrote a blog post saying he wanted to expedite rules around flavored e cigarettes and certain flavored cigarettes at basically move my timeline for completion in my mind from twenty twenty four at the earliest to twenty twenty two at the earliest, and that is me trying to game out how long it will take them to go through all the comments issue. Their proposed rule go through all those comments and issue final rule banning menthol cigarettes would have to go through a similar rulemaking process. Plus any rule the FDA does finalize will likely face legal challenges by the tobacco industry says Joel Lester, the director of tobacco control at the public health Law Center. She points to a two thousand eleven rule that required graphic health warnings on cigarette. Packaging, and then the industry sued and litigation delayed everything and then eventually industry one and. The agency is back to the dry important. She says the FDA still hasn't proposed replacement role. I'm Tracey Samuelson for marketplace. On Wall Street today wasn't just the Dow fell off the table pick favorite index. Probably read. We'll have the details when we do the numbers..

FDA Softbank Tracey Samuelson Scott Gottlieb Stephanie Miller Kenji Kushida Alibaba Uber slack Commissioner Saudi Arabian NYU stern school of business Stanford Asia Pacific founder researcher official Joel Lester public health Law Center
"softbank" Discussed on Equity

Equity

03:16 min | 1 year ago

"softbank" Discussed on Equity

"A no debt will be talking about this at greater length next week, and the meantime, another huge story this week is soft bank's vision fund and its continued spending spree. Danny wanna tell us what happened today, especially, no, absolutely. I mean, talking about a bishop's entrepreneurs and major moguls of the tech space Maza son who runs SoftBank in the vision fund. We learned to this week that he'd actually intends to put out fifty billion in venture capital every year, and it's going to raise a digital hundred billion dollar vision funds throughout the future. And so this is like the week for for SoftBank of, I think we have what three multi hundred million dollar deals from SoftBank. Just today alone across the venture. We had one point, six billion in venture deals announced according to Dan pre MAC, and so so much news to cover. But I think we're going to start with with oil and Indian hospitality company, Alex. Yup. This was the first one to come out this week. We'll get to what happened this morning, which is maybe even crazier, but I have to confess I hadn't even heard of oil which is spelled o why? Oh, all caps a company out of India. I think it's actually founded by Thiel fellow of all things, and they kind of focus on budget issues, but high quality hotel rooms, Charlie, something that we don't have everywhere. So the company has raised a billion dollars more, which is I think we're kind of inured to how much money that is. But SoftBank Bank also took part in a number of its other funding rounds to date. So this is not there. I kind bet on the company must be doing doing quite well. And according to tech Russia's, John Russell, it aggravates budget hotels and hostels across India. And then insurance. They include kind of like WI fi and hush. Hi, showers and things can't people expect. So it's it's a cool play, but the reason why it wasn't just the dollar amount. It was the fact that it doesn't seem to be kind of tack is seems to be kind of a hospitality play. And so I was kind of curious if we were surprised that the vision foam to play someone capital into this company, having one go here later on, I don't think the SoftBank vision fund has ever sort of limited self clearly to tech. Obviously it has a lot of major tech investments. But if you look at some of their other investments in companies like why the dog walking marketplace or Qatar, the construction marketplace, you know, these are tech naval. They're using technology in Qatar case or using some artificial intelligence to improve the supply chain around modular housing. But I don't think it's ever been limited that way when you wanted to deploy one hundred billion, it's exactly spaces like real estate that are going to be able to accept that kind of cap. I. So I actually had a chance to interview one of the managing directors a couple of nights ago, an an an event hosted in the city, and he was talking about south bay. Thanks sort of, you know, long term and growing interest in real estate investors, and he was pointing out that it's a, you know, one point, eight trillion dollar industry. It represents twenty two percent of global GDP and you know, technology can obviously dramatically changed the the cost profile said the quality, the time line to build. And so they're just pouring a ton of their capital into a lot of these sort of businesses that are not sort of asset heavy as you mentioned. Danny. It's sort of, you know, places where software can make the business more efficient..

SoftBank Danny wan India Qatar SoftBank Bank Charlie Alex Dan Thiel WI south bay John Russell Russia hundred billion dollar hundred million dollar eight trillion dollar
"softbank" Discussed on Masters in Business

Masters in Business

02:03 min | 2 years ago

"softbank" Discussed on Masters in Business

"Edging martin or of that entity and yahoo us they also created yahoo korea yahu uk and some other things so there was a really global partnership that was set up and that really was on some level the basis for a lot of soft bank's us and other internet activities really you know that's the flagship investment early on in the softbank story on the internet so it's funny to think of you as a venture investor kush your background is that of an accountant and and maybe it's my bias but i think of accountants as steady riskaverse dotting is and crossing ts and making sure double entry accounting adds up how did you transition from a stayed profession of an accountant to something that's got a touch of cowboy in it yet i'd say a touch of cowboy might be an understatement someday but i guess it takes all types and i actually really enjoyed my time at deloitte and was my background is i was a cpa for a while i was in the accounting and auditing function within within deloitte for six years so i my first six years of my career where there spent i spent an inordinately large amount of time on companies in i think it why it translated to my softbank activities it spent i spent a large amount of my time on companies that were heavily transaction orientated so companies like prime arc that was buying a lot of data service companies at the time a company like hardcore general at the time that was buying harcourt brace jovanovich and neiman marcus and other things so i was i was involved in the assignments that i will ended up being on wor very transactional orientation a lot of acquisitions and they were doing a lot of activity counting skills would come in very handy with that counting skills come in very handy i do find that my background of accounting skills is actually quite helpful with the companies particularly as they scale as they say there's there's there's nothing.

martin yahoo uk accountant deloitte softbank neiman marcus six years
"softbank" Discussed on Equity

Equity

01:32 min | 2 years ago

"softbank" Discussed on Equity

"Um but you know cash they can't get this done that must but the ipo back at least a year right i i can't say i can't get it done it's going to be bad so i think they're going to get it done i think boats anything softbank is it would look bad as a source pointed out to me it would look very very bad for softbank to basically screw over the next crop of millionaires in silicon valley like they want to be on good terms with the next entrepreneurs all than all the upcoming um you know kids obviously people are gonna ultimately leave over some of the early over employee's are going to leave uber and build noon great things in softbank wants to be on good terms of these peoples and it would look bad for them to back down after months of over employs expecting that they could make money from saw thanks again to want to piss all those people off only agree with that entirely is that softbank islami badger of large amounts of they just don't have to carry the first terms this all the old must lift and then discussed at a woman upi done i mean they seem to be added minimum posing as if the two with here but i do i mean but that was one of these ideas were much monitored by yes so i think of going to be interesting to see we'll keep you posted and what happened supposedly the tender offer will kick off in two weeks by giving softbank statement today were it looks like they are going to try to play hardball thank you come back for a regularly scheduled episode later this week all right everyone was a special thanks to our producer torture zone christopher dates our executive producer henry through tonight.

softbank henry softbank islami producer executive producer two weeks
"softbank" Discussed on Equity

Equity

01:45 min | 2 years ago

"softbank" Discussed on Equity

"For his eventual return as the eoe out to the detriment of numerous stockholders employees driver partners and customers that that means they're not friendly no no i don't think they're going to promise to gather i think that's and that yeah hanley used to be friends not anymore and then this dragged on i mean this lawsuit was messy and public and i i mean ironically benchmarks on reputation god drive through month silicon valley for going after a founder which is currently against the the the moore's they've gone push pushback for that by the way a lot of enters are like i don't wanna work with highly quietly they're saying i've heard it from some of them that they don't wanna work with a place like benchmark which that's obviously if they have their pick up a letter when it comes to investing oh is so many founders could be so lucky to during down a benchmark however regardless shows all bureaux their high rate but you know why like if if it cost them even one massive deal like and the next subaru that significant so so if you will in the valley have watched this lhasa very cool closely and so part of the reason for the timing of all of this stuff for the past few days has to do with this lawsuit actually that's been a big holed up here so benchmark in travis who's no longer the ceo haven't been able to put a side their differences by this weekend uh some of that was resolved as long as this softbank deal goes through so basically what it all what they all would it boils down to is that travis had the power to appoint multiple to two board seats in addition to his own that was what kind of what the lawsuit was about originally they didn't want him to have that power but he after lawsuit.

eoe hanley founder moore travis ceo softbank
"softbank" Discussed on Equity

Equity

01:54 min | 2 years ago

"softbank" Discussed on Equity

"There's been numbers that have been flooded and there have been reports forty fifty billion value vision but we don't know um and so in so um basically the deal is while they move forward on this agreement the deal is only happening if casaf bank only want only wants to do it if they own at least fourteen percent of the company we are told by there are a lot of news stories about this yesterday and soften came back today on monday wanting to emphasize the technically they could walk away in bear language on him a statement provided by a softbank investment advisors coo rajiv means for us said after a long and arduous process of several months it looks like uber in its shareholders of agree to commence the tender process and engage with saw thank by no means is our investment to cited we are interested in over with the final deal will depend on the tender price and a minimum percentage zero holding for softbank so they wanted to clarify that they can in fact walk away owner two terms than the can't get enough shares to reach the fourteen percent or two of the price of secondary isn't what they wanted to be is there to kind of hinges on which this deal swings give as a a you know those are the things they would be most likely to cause them to walk away from the deal but i do know people directly involved and and look at this this idea that they would walk away would be very surprising softbank has clearly been very interesting over for a while they have a lot of money to invest in ever fits their investment thesis so it's unlikely that that will happen but i think softbank wants to send a message through the media to over in health care so megotiating here that it they're not going to just by shares for any praise they're not dummies basically owing word employee.

the deal softbank coo rajiv fourteen percent
"softbank" Discussed on Deal of the Week

Deal of the Week

01:51 min | 2 years ago

"softbank" Discussed on Deal of the Week

"Okay so that so few things i want to go over there for battle because it this alliance super cost a lot of information so first of all you mentioned briefly i actually didn't realize this the money is coming from the vision fund at this stage not softbank parent company yet yep okay so the vision fun for people that may not remember is this huge private equity fond that softbank leads and pumps in billions of dollars to but also gets money from other sovereign wealth funds mainly and even a little bit of money from other tech companies like apple and qualcom and uh you know a handful of others that of kicked in let's say a billion dollars the whole fund is a one hundred billion dollar private equity fund and softbank has already uh used this money to make a bunch of small investments in many many many different tech companies um so the way this will work is softbank for my understanding and mrs where i maybe you can help me clarify this era this will be a tender offer any secondary market so you mentioned the one to one point two five billion in uber's last valuation of about seventy billion that aside softbank wants to acquire something lavigne the range of like fourteen to seventy one percent of the entire company from a secondary tender offer where existing shareholders will have the right to sell to softbank now what happens if not enough shareholders agree to sell their shares because they don't want to so the i think the process that everyone seems to think the tender process that seems likely to happen you know softbank offers a.

apple softbank one hundred billion dollar seventy one percent billion dollars
"softbank" Discussed on Deal of the Week

Deal of the Week

01:51 min | 2 years ago

"softbank" Discussed on Deal of the Week

"Okay so that so few things i want to go over there for battle because it this alliance super cost a lot of information so first of all you mentioned briefly i actually didn't realize this the money is coming from the vision fund at this stage not softbank parent company yet yep okay so the vision fun for people that may not remember is this huge private equity fond that softbank leads and pumps in billions of dollars to but also gets money from other sovereign wealth funds mainly and even a little bit of money from other tech companies like apple and qualcom and uh you know a handful of others that of kicked in let's say a billion dollars the whole fund is a one hundred billion dollar private equity fund and softbank has already uh used this money to make a bunch of small investments in many many many different tech companies um so the way this will work is softbank for my understanding and mrs where i maybe you can help me clarify this era this will be a tender offer any secondary market so you mentioned the one to one point two five billion in uber's last valuation of about seventy billion that aside softbank wants to acquire something lavigne the range of like fourteen to seventy one percent of the entire company from a secondary tender offer where existing shareholders will have the right to sell to softbank now what happens if not enough shareholders agree to sell their shares because they don't want to so the i think the process that everyone seems to think the tender process that seems likely to happen you know softbank offers a.

apple softbank one hundred billion dollar seventy one percent billion dollars
"softbank" Discussed on Deal of the Week

Deal of the Week

01:41 min | 2 years ago

"softbank" Discussed on Deal of the Week

"Give the board of the authority to approve he controls his own board seen than to others so he resigns at ceo but he does not resign off the board you yeah and he had an agreed to resign off the board but he basically resigned to certain relinquish a lot of his authority over the board besides you know his own seat there okay so that all happens in june then in july that's when you leave the charge on breaking the first story that softbank may be interested in taking a stake in uber how does that stake even become available to by uber is a large private company it's a little unusual that a large stake in a private company would be acquired in sort of the ways softbank is interested in doing it explain that right i mean the key thing here is that most of this is sort of meant to be secondary this is soft softbank vine out existing shareholders so but uber's had a lot of control over that process so it's been softbank sort of courting major holders which include no benchmark these early investors in obviously travis kalanick has an early holder and saying you know maybe we could make a deal if we buy out some of your stake so it's the idea of there being that benchmark may be unhappy with the company now and may be wanting to sell well that here i think that's that's a huge question there's there's so much spin right now because there's and we'll get to this but you know they're all these pricing questions we i think we have yet to see how much benchmark.

ceo softbank travis kalanick
"softbank" Discussed on Deal of the Week

Deal of the Week

01:41 min | 2 years ago

"softbank" Discussed on Deal of the Week

"Give the board of the authority to approve he controls his own board seen than to others so he resigns at ceo but he does not resign off the board you yeah and he had an agreed to resign off the board but he basically resigned to certain relinquish a lot of his authority over the board besides you know his own seat there okay so that all happens in june then in july that's when you leave the charge on breaking the first story that softbank may be interested in taking a stake in uber how does that stake even become available to by uber is a large private company it's a little unusual that a large stake in a private company would be acquired in sort of the ways softbank is interested in doing it explain that right i mean the key thing here is that most of this is sort of meant to be secondary this is soft softbank vine out existing shareholders so but uber's had a lot of control over that process so it's been softbank sort of courting major holders which include no benchmark these early investors in obviously travis kalanick has an early holder and saying you know maybe we could make a deal if we buy out some of your stake so it's the idea of there being that benchmark may be unhappy with the company now and may be wanting to sell well that here i think that's that's a huge question there's there's so much spin right now because there's and we'll get to this but you know they're all these pricing questions we i think we have yet to see how much benchmark.

ceo softbank travis kalanick
"softbank" Discussed on Crunch Report

Crunch Report

01:34 min | 3 years ago

"softbank" Discussed on Crunch Report

"H three aged three wins and coffee right lawsuit we work it's four point four billion investment from softbank boomer's financial show the company is still growing despite the drama and more it's thursday august 24th and this is crunch report what brunch land hope you're all killing it on this thursday here's the news we work has announced its received a massive four point four billion dollars investment from softbank group and softbank vision fun the company says the funding breaks down to three billion invested in we work itself and one point four billion in the company's created for we works expansion in asia namely we were china we were japan and we work pacific the one point four billion include soft previously announced investment in we were china we work says it currently has more than one hundred fifty thousand members across one hundred and sixty locations in sixteen countries as a result of this investment softbank groups ronald de fisher and mark swartz are joining the company's board of directors another slamming classic from each three h three the husband and wife team have won their ferries lawsuit that was brought against them by bold guy matt haas hasoo declines last year after they posted a reaction video mocking him haass's initial suit focus less on the criticism per se and instead alleged that the klinz had infringed his copyright by featuring clips of one of his videos in their criticism on the reaction video i mean just hearing the allegations from the suit mace me just one.

softbank boomer softbank group asia china japan ronald de fisher mark swartz matt haas four billion dollars
"softbank" Discussed on The Information's 411

The Information's 411

01:30 min | 3 years ago

"softbank" Discussed on The Information's 411

"And it's worth calling on a couple of things on on softbank and the power of money so in southeast asia softbank just put a lot more money into grabbed the you know the right hailing company that competes against uber there and that completely changed the game over there that the fact that the fact that now softbank is is a law you know aligned with with grab and east grab has had tremendous difficulty on the tech side and you know is is really behind who were in many respects but it doesn't matter it doesn't matter because they have this war chests now that is seemingly unlimited and mosses basically saying money will win this in an emerging market in for this type of marketplace money will win and we will win in this way and he's probably right here i in in india the flipkart deal is interesting for part you know the the kind of a amazon or or ebay wanna of of that country although amazon india is a serious player there great and flip court has had immense difficulties immense turnover lots of problems over the years they still have a volume but they've the loose tons of money and this was a down round for them that that softbank went in on a and and i think that the bad is just that you know we plow enough money into this thing and it will last and it will you know it'll it'll figure its way out and there's enough room for multiple players in what will be a huge market.

softbank amazon southeast asia india
"softbank" Discussed on Crunch Report

Crunch Report

01:56 min | 3 years ago

"softbank" Discussed on Crunch Report

"Soft big wants to invest in either who were lift iphone eight mike scan your face you are codes come to then mo and more it's monday august seven and this is crunchers potato orpo tato tomato or tomato a few billion and teuber or a few billion and to lift it's really hard to answer any of these incredibly important questions but softbank ceo masayoshi son has decided to grapple with such quandaries he's thus far not commented on the potato tomato situation but has indicated that he's looking into investment into both lubar and lift well jeez masayoshi thanks for nothing over and lift or i guess more aptly hoover or lift it like the bachelorette if each dude was a multibillion dollar ridesharing startup and there were only two one has a lotta baggage like like a ton actually but he insists he wants to change for the better and improve his culture the other perceived as underdog from the beginning of the season is cue inkind but maybe too much in the adorable sense oh and they both like spending money good luck with that softbank that oubre in lift our share a handful i like you you my face skinned in fact i give the scanned every morning thai keep my settling so magical that's why i was delighted to hear that apple might be out in a face scanning feature to the rumored new iphone eight i help you are found a reference inside home pods for more for rest seemed out pro about unlock smart people tell me this means there will be a face scanner on the iphone that can unlock your phone even in the dark and when the phone is lane on the table this would replace the touch id sensor to make room for more screen really so happy about this not weird at all apples not watching you all my phone rest the circle doesn't exist it can exist everything is completely fine technology is wonderful isn't it.

iphone softbank apple ceo