No Name, Blurred Vision Fund

[Image]( EMAIL}/redirect (Advertisement) Investing recklessly in over-valued tech startups is guaranteed to succeed, they said. It will be fun, they said. SoftBank announced another piss poor quarter... which has investors concerned that Masa Son is losing "it." The tech giant announced yesterday that its operating profit dropped 99% from the prior year to $24M. Its infamous Vision Fund had an operating loss of $2.05B. Touch of death It seemed for a while that every company the Vision Fund so much as accepted a pitch deck from was destined to be the next Google. Uber? Hell yeah. WeWork? Sounds good to me! A dog walking app? F*ck it, I’m drunk! (presumably) But alas Masa’s stable appears to be filled with a bunch of Juiceros... Uber’s value cratered leading up to its IPO, as the company’s widespread losses didn’t jive with what investors were willing to shell out for shares. Lyft's big brother has continued its free fall, though a hastened profitability timeline sent Uber’s shares up over the past week. And as for WeWork? It needed a $1B bailout from SoftBank just to WeLive another day. The company was poised for an IPO in 2019 but some less than scrupulous corporate governance practices and the general lack of profitability led to a valuation drop from $47B to, wait for it, $6B. Past performance is no guarantee of future results. EMAIL}/redirect (Advertisement) So where are we now? Not opening a second $100B Vision Fund, that’s for sure. Founder Masayoshi Son admitted that SoftBank will likely have to reassess its plans for VFII, and potentially scrap the fund altogether. But the uptick in Uber, a potential IPO of WeWork (still planned), and the recent approval of the Sprint/T-Mobile merger are all good signs that we may not have to put Masa out to pastur... yet. The CEO is still looking to build out the second Vision Fund, but it may require a bridge fund, which SoftBank would back to build investor confidence before reeling in some big swingin' d*cks. Looking at you, MBS. The bottom line... For better or worse, Masa Son has taken his lumps and owned up to some of the firm's more aggressive investments that haven’t panned out. Unfortunately, “promising startups” and “300-year plans” don’t mean anything to activist investors like Elliott Management, which is clamoring for a $20B stock buyback, after it bought up 3% of SoftBank's outstanding shares last week. It just goes to show, if something seems too good to be true, it probably is. EMAIL}/redirect (Advertisement) ☑️Sausage Fest! "Beyond Meat, Impossible Foods, it's very nice to Meat you." - Incogmeato, probably. Kellogg's is getting into the meatless meat game. It's vegetarian brand "Morningstar Farms" is going to be creating fake bratwurst and Italian sausage under the name 'Incogmeato' to compete with Impossible Foods and Beyond Meat. It's safe to say the naming committee at Kellogg's is a group of very satisfied dad's right now. Incogmeato introduced burgers and chicken-like patties in September, to be delivered in March. The addition of brats and sausages ensures that the meatless options will be ready for the fourth of July when roughly $800M worth of meat is consumed during the weeks surrounding the holiday. ☑️Every action has an opposite reaction Longtime chairman and CEO of MGM Resorts Jim Murren is cashing in his chips and ending his tenure as the leader of the company. He’ll stay on board until it finds a successor for him. In what's got to be a hit to his self worth, MGM stock rose 7% in after-hours trading following the announcement. The casino is facing tough times ahead as it withdrew a 2020 forecast to assess the impact of, you guessed it, coronavirus which has resulted in its Macau casinos being closed down. To keep investors coming back, MGM is launching a $3B share repurchase program, starting today. Maybe Jim is leaving at the right time after all... ☑️Not at the table, Carlos Nissan has filed a lawsuit against its former chairman Carlos Ghosn, seeking to recoup the money paid to the Japanese Financial Services Agency for Ghosn’s breach of fiduciary duty as a company director. The size of the initial claim is 10 billion yen, which sounds like a lot, until you convert it and then realize it’s only a casual $90M. The claim figure is expected to rise as the automaker will likely incur further charges and penalties in criminal proceedings thanks to Carlos’s “years of misconduct and fraudulent activity”, according to Nissan. ☑️Shopping spree “Positive guidance yields positive results, bitch.” - Ghandi, probably. Shopify, which produces online tools for companies to sell on the interwebs, hit a new 52 week high after beating Q4 earnings and raising guidance for 2020. Apparently, investors really like when the company’s profit is bigger than what they had originally thought. Shopify’s EPS of 43 cents crushed the 24 cents estimate by analysts, and revenue jumped 47% YoY. CEO Tobi Lutke said 2019 was a milestone year, and it will continue to optimize its fulfillment network in 2020. The stock rose 7.8% on the day, and is up 34% YTD. EMAIL}/redirect (Advertisement) To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below: [SIGN ME UP NOW]( © 2019 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. 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