Masayoshi Son

In twenty seventeen, Son announced a hundred billion dollar Vision Fund. Wall Street was confused. His logic seemed backward. If you give companies capital, they outspend competitors until markets consolidate. Valuations didn't matter to Son. Market dominance mattered. Uber and WeWork received billions. Investors thought Son was reckless, dangerous, possibly insane. SoftBank accepted that most bets would fail. Some portfolio companies like WeWork collapsed spectacularly. The fund lost billions on individual investments. But winners like Coupang and DoorDash dominated entire categories. Competitors simply ran out of capital while these companies burned cash with structural advantage. Losses were intentional parts of the strategy.