Welcome to the Tech Meme Right Home from Monday, August 8th, 2022. I'm Brian McCullough today.

Masa Son takes another one on the chin, another record loss. The U.S. Treasury is

sanctioning a major crypto mixing service. Netflix gaming is off to a good start

or a terrible one, I really just can't tell. One of the streaming services is biting the dust and since we're aware of the car industry data tracking issue now, how much data is Tesla already tracking about your driving? Here's what we missed today in the world of tech.

Soft Bank has reported around a 17.23 billion dollar loss for Vision Fund in Q1, as the value of its tech portfolio fell, including

Sense Time and Uber.

This of course follows a record Q4 loss, quoting Reuters.

The world is in great confusion, Masa San said at an earnings news conference.

The result caps a tumultuous six months for the Vision Fund, which

posted a record 26.2 billion dollar loss in May after Soft Bank was caught out

by rising interest rates and political instability that hammered markets globally.

Sahn has already radically scaled back investment activity.

The Vision Fund Arm approved just $600 million in new investments in the first quarter compared with

20.6 billion dollars in the same period a year earlier. On Monday the

billionaire pledged to go further limiting the second fund to just managing its current portfolio of investments while planning

workforce cuts at Vision Fund and cost reductions across the group. We need to

cut costs with no sacred areas, son said.

We were in a kind of bubble on valuations, he said.

If we had been more selective and invested better,

we wouldn't have received this heavy blow,

son said, and quote.

Which, right, kept an obvious award of the day there.

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