SoftBank’s Masa Son on Wins, Losses, & Billion Dollar Bets

Squawk Pod

CNBC

News, Investing, Business, Business News

4 • 494 Ratings

🗓️ 13 May 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In a surprise reversal, Tesla CEO Elon Musk announced that his EV company will no longer accept Bitcoin as payment for its cars. His move comes as concerns about crypto’s environmental impact ring louder and louder: 1 bitcoin transaction has the same carbon footprint as over 735,000 Visa transactions and over 55,000 hours on YouTube. In an exclusive interview, SoftBank founder and CEO Masayoshi Son speaks to Andrew Ross Sorkin about his winning--and losing--bets, from Uber, Alibaba, and DoorDash to WeWork. The legendary tech investor admits that he missed out on opportunities like Airbnb, and explains some of his investment philosophy. Plus, the Japanese billionaire reveals his own concerns about the Tokyo Olympics.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our
0:05.6	podcast Soft Banks Masa Yosi Son. Billionaire Masa Sun sits down with our own
0:10.8	Andrew Ross Sorkin after a rebound year of impressive games.
0:15.0	Well, you know, we had a good outcome because of many, you know, lucky opportunities.
0:22.0	The man who poured billions into and made billions
0:25.1	out of Alibaba Uber Slack and Doordash addresses his less wise bets. You know we had
0:31.2	we work issues we had a green sale we had a
0:36.6	you know we have many bad investments we made where the soft bank leader invested
0:42.1	and where he missed out.
0:43.4	Okay, so, who do you think you missed?
0:45.6	Yeah, yeah, yeah.
0:46.6	So Airbnb, Snowflake and, you know, several other companies that we should have invested we were looking to
0:56.2	invest and I was not smart enough.
0:59.4	Plus he's Bank World Global Innovation for years but tech stocks are stumbling
1:04.1	Masassan's market perspective. It's not the change in the company's performance
1:09.8	the fundamentals is very strong our companies are. Our companies are growing.
1:14.0	Tech companies are growing.
1:16.0	They have a record high profitability and so on.
1:20.0	That big interview, but first, the talk of of the town Tesla's Bitcoin reversal. It's
1:25.4	Thursday, May 13th 2021 Squag Pod begins right now.
1:30.8	Good morning everybody. Welcome to Squack Box here on
1:33.3	cn't be see. I'm Becky Quick along with Joe
	...

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