SoftBank Group boss Masayoshi Son has pledged to take a more cautious approach to investing in startups following the sudden collapse in valuation of office-sharing outfit WeWork.
"We will learn from our mistakes on WeWork, and create solid governance standards regarding business founders," Son said in the Japanese group’s quarterly earnings presentation on Nov. 6. SoftBank and its $100 billion Vision Fund invested $10.3 billion in WeWork, which was last valued at $7.8 billion following a rescue deal led by the Japanese group, which was announced on Oct. 30.
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