Watch Masayoshi Son get in the groove as Softbank’s ‘golden goose eggs’ followed his famous unicorn slide
SoftBanktoday posted a whopping $11.1 billion net profit between Oct and Dec 2020, thanks to the performance from his Vision Fund. Masayoshi Sonsaid that SoftBank was like the goose that turned regular eggs into golden goose eggs and even broke into a little dance during his presentation.
- SoftBank Vision Fund will now focus on AI (artificial intelligence) revolution, he said.
SoftBank today posted a roaring $11.1 billion net profit in the third quarter thanks to the Vision Fund’s performance. During the last quarter, SoftBank sold over $2 billion worth stocks in Uber and also saw its companies like DoorDash going for an IPO. Those who track the company would have expected this but not followed it.
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Masayoshi Son and dancing golden eggs https://t.co/lJVw0uletG— Natsuko Fukue (@natfukue) 1612773340000
Just as Son called Softbank as the “producer of golden eggs”, he broke into a dance. This isn’t the first time Son has used the goose and golden eggs analogy. He has described the Japanese investment firm’s portfolio in a similar manner first in 2014 and then again in 2017. However, this was his first dance during an earnings conference.
In May 2020, Son had referred to flying unicorns as companies from SoftBank’s portfolio which will be able to survive the COVID-19 pandemic.
The companies that Son described as golden eggs are not founded by Softbank. It only funds them. This additional capital, and “a bigger vision” for the Softbank-funded firms, are the “turbochargers”, as Son put it, which turn a regular white egg into a golden one.
Going forward, the SoftBank Vision Fund will focus on AI (artificial intelligence) revolution. “The biggest evolution is AI, the greatest advancement created by humankind,” said Son.
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