SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence::undefined
SoftBank is astoundingly bad at this. This is the same company that acquired Sprint, among other bad decisions. Last fall they were happy that they onlylost $6 Billion in the quarter because they’d lost $10B the previous quarter. The financial system is really fucked up when companies like this just stay in business despite this type of incompetence.
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SoftBank is astoundingly bad at this. This is the same company that acquired Sprint, among other bad decisions. Last fall they were happy that they only lost $6 Billion in the quarter because they’d lost $10B the previous quarter. The financial system is really fucked up when companies like this just stay in business despite this type of incompetence.