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Softbank: Twilight of an Empire

The Generalist

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The Vision Fund and Softbank's Succession Plan

The value of Softbank's Vision Fund has declined to the point where it may be worth less than its investment amount. The Machiavellian culture and chaotic decision-making structure at the Vision Fund contributed to this absence. Despite SVF1's underperformance, SVF2 could prove worse because much of it was deployed in 2021. If Softbank wants to stay in the game, it will need to free up more capital.

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