<story><title>SoftBank’s Vision Fund Loses $17.7B on WeWork, Uber</title><url>https://www.bloomberg.com/news/articles/2020-05-18/softbank-vision-fund-books-17-7-billion-loss-on-wework-uber</url></story><parent_chain></parent_chain><comment><author>ChicagoDave</author><text>I&amp;#x27;m just thinking about how many $500k to $1mm seeds could have helped founders get their ideas off the ground in lieu of these debacles.&lt;p&gt;17,700,000,000&lt;p&gt;17,700 at $1mm
35,400 at $500k&lt;p&gt;That&amp;#x27;s a lot of ideas getting fuel and a lot of people being put to work. Even if you filter through for high quality ideas and teams, this is still a better use of those funds.&lt;p&gt;WeWork was a bad idea from the start. Uber is a great idea without a functioning (profitable) business model.&lt;p&gt;As an entrepreneur, this kind of news drives me batty.</text></comment>
<story><title>SoftBank’s Vision Fund Loses $17.7B on WeWork, Uber</title><url>https://www.bloomberg.com/news/articles/2020-05-18/softbank-vision-fund-books-17-7-billion-loss-on-wework-uber</url></story><parent_chain></parent_chain><comment><author>dannyw</author><text>&amp;gt; The drop in Uber’s share price was responsible for about $5.2 billion of Vision Fund’s losses in the period, while WeWork contributed $4.6 billion and another $7.5 billion came from the rest of the portfolio&lt;p&gt;Losing even &lt;i&gt;more&lt;/i&gt; on other portfolio businesses, like Oyo (the hotel chain) is going to hurt.&lt;p&gt;I hope this gets rid of the &amp;quot;out-raise your competitors and spend ridiculous amounts of money on ridiculous money sinks&amp;quot; strategy forever.</text></comment>