WeWork’s Failure is SoftBank’s Day Of Reckoning wired.com

In the wake of WeWork’s failed IPO last month, schadenfreude fans had a lot to cheer from Adam Neumann’s fall from grace.
But that misses the broader point that WeWork reflects only the most recent and extreme example of irrational exuberance and fantastical thinking that has transformed private equity markets in recent years, spearheaded by SoftBank’s $100 billion Vision Fund.
Wall Street’s wakeup call has put SoftBank’s investments in Uber and WeWork underwater.
Six minutes into their meeting, Son offered Ma an investment of $40 million for 49 percent Alibaba’s shares.
The two young executives ultimately agreed on a $20 million investment, which today is valued at over $100 billion.