SoftBank’s New Strategy: Screw Over Startups Not Investors
https://www.vice.com/en_us/article/y3mdej/softbanks-new-strategy-screw-over-startups-not-investors
SoftBank's Vision Fund is already a graveyard of broken tech startups, featuring companies like Uber, WeWork, DoorDash, Fair, Katerra, and Oyo—wholly unprofitable enterprises whose business models rely on using investor capital to subsidize prices, achieve a monopoly, then hike prices up again.
In pursuit of profits for their investors, these companies have either undergone layoffs, implemented steep pay cuts, violated labor laws, or sold off major operating units to try and forge some path to profitability. None are there yet.