Read on Twitter
1/n
The quarter was a massive beat, thanks to SoftBank Vision Fund segment investment gains, across both SoftBank Vision Fund 1 and SoftBank Vision Fund 2.
Those were the only two financial slides in the presentation. Masa then shifted to his trademark philosophical tone.
The quarter was a massive beat, thanks to SoftBank Vision Fund segment investment gains, across both SoftBank Vision Fund 1 and SoftBank Vision Fund 2.
Those were the only two financial slides in the presentation. Masa then shifted to his trademark philosophical tone.
2/n
"What is SoftBank?" investors ask.
Masa insists the company mission has not changed since Day 1 - they have always invested in the Information Revolution.
For example, in 2008 Masa saw mobile Internet and Asia Internet as the future.
"I think I was right!" he jokes.
"What is SoftBank?" investors ask.
Masa insists the company mission has not changed since Day 1 - they have always invested in the Information Revolution.
For example, in 2008 Masa saw mobile Internet and Asia Internet as the future.
"I think I was right!" he jokes.
3/n
Just as mobile internet dominated the last 10 years, Masa believes AI will dominate the next 10 years.
So simply, what is SoftBank?
It is "The company investing in the AI Revolution"
Just as mobile internet dominated the last 10 years, Masa believes AI will dominate the next 10 years.
So simply, what is SoftBank?
It is "The company investing in the AI Revolution"
4/n
Masa again touts Net Asset Value as the best valuation metric for SoftBank, as he has done for several earnings now.
SoftBank gained a whopping $58 Billion in assets since March!
Masa again touts Net Asset Value as the best valuation metric for SoftBank, as he has done for several earnings now.
SoftBank gained a whopping $58 Billion in assets since March!
5/n
Masa believes that the trick to SoftBank's NAV rising so rapidly in 20 years - much more than major stock indices - is his focus on evolution of technology.
Masa believes that the trick to SoftBank's NAV rising so rapidly in 20 years - much more than major stock indices - is his focus on evolution of technology.
6/n
Today most of SoftBank's assets are internet - $BABA - & telco - $9434, $TMUS
Masa intends to derive much more asset value from AI going forward - and calls his projection conservative!
The chart is blurry as companies like $BABA and $9434 will have some of each category
Today most of SoftBank's assets are internet - $BABA - & telco - $9434, $TMUS
Masa intends to derive much more asset value from AI going forward - and calls his projection conservative!
The chart is blurry as companies like $BABA and $9434 will have some of each category
7/n
Masa runs through some common investor misconceptions.
As I have said many times, SoftBank doesn't have a debt problem. Additionally, as I've also speculated, the "SoftBank whale" derivative exposure is small!
Masa runs through some common investor misconceptions.
As I have said many times, SoftBank doesn't have a debt problem. Additionally, as I've also speculated, the "SoftBank whale" derivative exposure is small!
8/n
Masa believes AI will be key for the future of humanity, and runs through the capabilities of AI, each stage more impressive.
Eventually he sees AI "creating," a concept he touched on during his recent talk with $NVDA CEO Jensen Huang at SoftBank World.
Masa believes AI will be key for the future of humanity, and runs through the capabilities of AI, each stage more impressive.
Eventually he sees AI "creating," a concept he touched on during his recent talk with $NVDA CEO Jensen Huang at SoftBank World.
9/n
Speaking of $NVDA, it sure seems Masa intends for #ARMedNVDA, of which he happily exclaims SB will be the #1 shareholder, to be a centerpiece of SoftBank's long-term AI investment strategy.
He highlights a few $NVDA achievements, as "The Arrival of AI era" is upon us.
Speaking of $NVDA, it sure seems Masa intends for #ARMedNVDA, of which he happily exclaims SB will be the #1 shareholder, to be a centerpiece of SoftBank's long-term AI investment strategy.
He highlights a few $NVDA achievements, as "The Arrival of AI era" is upon us.
10/n
Masa shows off many of his SoftBank Vision Fund companies, including several recent Vision Fund 2 investments.
Though he says many have written off the Vision Fund, Masa in fact continues to invest.
Masa shows off many of his SoftBank Vision Fund companies, including several recent Vision Fund 2 investments.
Though he says many have written off the Vision Fund, Masa in fact continues to invest.
11/n
SoftBank has an incredible collection of self-driving investments.
Masa says he thought self-driving would be many years away, but after talking with portfolio companies, it's coming along faster than he thought.
He shows videos of self-driving Nuro and Cruise vehicles.
SoftBank has an incredible collection of self-driving investments.
Masa says he thought self-driving would be many years away, but after talking with portfolio companies, it's coming along faster than he thought.
He shows videos of self-driving Nuro and Cruise vehicles.
12/n
Masa finally gets to highlight $BEKE!
So far the gains have been exceptional, and since Vision Fund 2, at least at the moment, is 100% owned by SoftBank, they get to keep 100% of the gains.
A key of $BEKE, like so many other investments, is the use of AI.
Masa finally gets to highlight $BEKE!
So far the gains have been exceptional, and since Vision Fund 2, at least at the moment, is 100% owned by SoftBank, they get to keep 100% of the gains.
A key of $BEKE, like so many other investments, is the use of AI.
13/n
Masa highlights more VF2 investments.
Health has been a focus of VF2 so far, which isn't surprising given 1) the enormous success of VF1 biotech investments and 2) the current pandemic.
He says the Japan government should take note of the capabilities of @biofourmis
Masa highlights more VF2 investments.
Health has been a focus of VF2 so far, which isn't surprising given 1) the enormous success of VF1 biotech investments and 2) the current pandemic.
He says the Japan government should take note of the capabilities of @biofourmis
15/n
Why is SoftBank invested in public companies now? Public companies are also AI leaders!
He likens it to a baseball team like @HAWKS_official - the team will have both new and veteran players.
Again, derivative exposure is small! Contrary to investor and media speculation.
Why is SoftBank invested in public companies now? Public companies are also AI leaders!
He likens it to a baseball team like @HAWKS_official - the team will have both new and veteran players.
Again, derivative exposure is small! Contrary to investor and media speculation.
16/n
SoftBank Vision Fund 1 is back to positive, and results as of today after $UBER will be even better than the 11/6/20 update, which is better than the 9/30/20 numbers.
And SoftBank Vision Fund 2 is off to a rousing start!
SoftBank Vision Fund 1 is back to positive, and results as of today after $UBER will be even better than the 11/6/20 update, which is better than the 9/30/20 numbers.
And SoftBank Vision Fund 2 is off to a rousing start!
17/17
Overall, Masa was extremely upbeat and seems incredibly excited to continue his mission to be the AI investment leader in pursuit of Happiness for Everyone.
I'm excited to go along for the ride!
#BelieveInTheVision
Overall, Masa was extremely upbeat and seems incredibly excited to continue his mission to be the AI investment leader in pursuit of Happiness for Everyone.
I'm excited to go along for the ride!
#BelieveInTheVision
