TELETRADER News
10/7, 12:30 PM (Source: TeleTrader)
more TeleTrader news

SoftBank's Son: WeWork, Uber to be very profitable

"The world is moving rapidly," Masayoshi Son told Nikkei Business and highlighted the technological advancement in the United States and the economic expansion in China and Southeast Asia. In an interview published on Monday, the chief executive of SoftBank Group Corp. apparently weighed in on the recent slump in some of the key parts of the conglomerate's portfolio by saying that he warned heads of entities it invests in to become aware of their limits in order to open "unlimited possibilities." We Co., the parent company of WeWork, and Uber Technologies Inc. will become significantly profitable within a decade, he claimed.

The situation in Japan is "very bad" regarding the entrepreneurial spirit and the country has lost its competitiveness, according to the billionaire. The number of technology sectors it leads in "has been steadily decreasing" and the position in semiconductors has been "completely lost," in his view.

Turning to his achievements, he stressed he is "embarrassed and impatient" amid the lack of progress and the growth by players in the US and China. SoftBank's upcoming tech fund will focus on transforming the world with artificial intelligence, Son asserted.

Breaking the News / IT