SoftBank Chief And Trump To Unveil $100 Billion US Investment Plan (cnbc.com) 31
An anonymous reader shares a report: Softbank CEO Masayoshi Son will announce a $100 billion investment in the U.S. over the next four years during a Monday visit to President-elect Donald Trump's residence Mar-a-Lago in Palm Beach, Florida, sources familiar with the matter told CNBC's Sara Eisen.
The billionaire investor and founder of the Japanese tech-investing firm will also promise in the joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, the sources said. The money will be deployed before the end of Trump's term. The funding could come from various sources controlled by Softbank, including the Vision Fund, capital projects or chipmaker Arm Holdings, where the firm is majority owner.
The billionaire investor and founder of the Japanese tech-investing firm will also promise in the joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, the sources said. The money will be deployed before the end of Trump's term. The funding could come from various sources controlled by Softbank, including the Vision Fund, capital projects or chipmaker Arm Holdings, where the firm is majority owner.
Re:"The Beating of a Liberal" (Score:4, Insightful)
Why would a US Marine attack a US citizen? They defend them.
Re:"The Beating of a Liberal" (Score:4, Insightful)
Re: (Score:2)
You're a disgusting human being
No he's not. He actually identifies as "it" and it's a bot. It's literally posts the same comment in every other story.
Read until the end (Score:5, Interesting)
Softbank’s Son and Trump made a similar announcement in 2016 after Trump was elected president for the first time, with the Japanese firm agreeing to invest $50 billion in the U.S. with the aim to create 50,000 jobs.
Did this ever come to fruition?
Re:Read until the end (Score:5, Interesting)
https://www.forbes.com/sites/b... [forbes.com]
Whether all that money has translated into the promised 50,000 jobs is difficult to determine. SoftBank would not provide an estimate of how many jobs it has created in the U.S. since Son’s pledge. Because the majority of the Vision Fund’s investments have gone to private companies, public data is not available, making it hard to hold Son accountable for his promise.
So no jobs were created and the money all went to mega corps.
Re:Read until the end (Score:5, Interesting)
That could also mean it was all investments they were going to do anyway and there's nothing at all to see. If you're investing in private startups, "creating" jobs is just floating a sinking ship hoping it's a one in a hundred chance of success. Many of those jobs will get "created" again a year later at another startup.
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Many of those jobs will get "created" again a year later at another startup.
I really hope you're not serious.
By your screwed up in the head logic, it's ok for me to rob Jeff Bezos of all his money, because later in the year he'll get the money back.
Re: Read until the end (Score:3)
If creating a job just means one that is highly likely not to exist in a year it is not the same as creating a position that will be around for many years. It inflates the numbers in a way that implies more than is happening.
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What? How could you get that out of Omnichad's post?
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https://www.forbes.com/sites/b... [forbes.com]
Whether all that money has translated into the promised 50,000 jobs is difficult to determine. SoftBank would not provide an estimate of how many jobs it has created in the U.S. since Son’s pledge. Because the majority of the Vision Fund’s investments have gone to private companies, public data is not available, making it hard to hold Son accountable for his promise.
So no jobs were created and the money all went to mega corps.
50,000 jobs is a huge number of jobs from a single investment company. If there were anything close to that number of jobs created, politicians would have picked up on that and bragged loudly about that over and over again. This is why we don't hear about the Foxconn jobs in Wisconsin.
Re: Read until the end (Score:3)
B.S. (Score:2, Flamebait)
>> announcement with Trump to create 100,000 jobs
Yeah. What could possibly go wrong here ?
Re:B.S. (Score:4, Insightful)
Honest answer - the graft. I would expect Trump has arranged some way to profit personally, and once the deal has gone far enough to get him paid everything after that will turn out to have been bullshit.
Caravan of Fools (Score:2, Insightful)
These captains of industry are lining up thinking that this time they will be the ones that will get the better of the insane sociopathic thief.
The joke will be on them when he launches his revenge nukes because he can't be King of the World. I give it to about the third week of February.
Interesting that Dune Prophecy is playing now (Score:3)
"jobs focused on artificial intelligence" (Score:2)
So a planned failure then? Or maybe a straw-fire?
We've heard this before (Score:3, Insightful)
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No? I don't see any mention of kickbacks, grants, or special tax dispensations.
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They learned to keep their mouths shut this time.
Coined now: Trump's Folly (Score:2)
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el Bunko, selling off America one bunko scheme at a time.
Selling Out (Score:2)
https://www.youtube.com/watch?... [youtube.com]
Shyeah, Right... (Score:5, Insightful)
And now they're cozying up to that slob to use Other People's Money to develop new varieties of snAIke oil?
Dumbfucks gotta dumbfuck, I guess...
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While it's fun to see rich corporations lose money, no they didn't get take for $11-15bn. They lost $11-15bn in equity losses - i.e. how much their peak value had to be ultimately written down. Much of that equity was built from an far more modest initial investment of around $4.7bn split across 2 major transactions.
It's also the same Softbank that joined with Yahoo to dominate the Japanese search market, and was an investor in a struggling little no-name company called Alibaba and their 30% ownership there
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Yes, we will create 100,000 MORE jobs - by investing in AI and technology (read automation) companies and start-ups!
Um... Does anyone else see what's wrong with that statement?