SoftBank founder admits mistakes with WeWork investment www.cbsnews.com

Japanese technology company SoftBank Group lost more than $6 billion last quarter as its earnings were hammered by money-losing investments, including a bailout for office-space sharing startup WeWork.
SoftBank founder Masayoshi Son expressed regret for "mistaken investment moves," while saying the situation at WeWork is under control and that he expects to turn it around.
The Tokyo-based investment company's 700 billion yen ($6.4 billion) loss in the July-September quarter compares with a 526 billion yen profit the same period a year ago.
But questionable corporate governance practices at WeWork have landed SoftBank in a crisis, he acknowledged at its earnings news conference.
Asked why WeWork was viewed as a technology investment when it's actually a real estate company, Son pointed to internet technology used by the company, which focuses on offering office space to startups.