Softbank reports $4.2Bn in losses in 6 months

- SoftBank's Vision Fund unit recorded a $220 million gain in the April-June period, reversing a $300 million loss from the previous quarter. - The Vision Fund 1 saw its holdings increase by $2.8 billion, while Vision Fund 2 experienced a $2.6 billion loss during the same period. - The unit sold investments worth $0.84 billion in the first quarter, including full exits from companies like SenseTime and Paytm. - Three of SoftBank's Indian portfolio companies are in the middle of IPOs, with shares worth Rs 1,287 crore ($153 million) being sold. - SoftBank's portfolio includes Indian tech unicorns such as Ola, Delhivery, Paytm, Policybazaar, and Meesho. Source: [Moneycontrol](https://www.moneycontrol.com/technology/softbanks-vision-fund-unit-back-in-black-in-june-quarter-with-220-million-gain-article-12789527.html)

https://themorningcontext.com/internet/what-does-softbank-know-about-india-that-others-dont Softbank is looking to offload India investments at any cost.

Honestly this sounds a bit low given it is Softbank. It should've been like Softbank trying to raise a $500 billion fund for AI.

https://anonymfile.com/NEEXl/tiger-global-draft-of-new-yorker-story-doing-the-rounds-in-nyc.pdf TLDR: Tiger Global may pass soon.

I have been following the Indian startup scene for a while now, and I have to say that I am not impressed. It seems like most of the startups here are nothing more than people chasing quick bucks and the entire scene is a circlejerk of people doing everything, attending these stupid conferences and gatherings than actually building something game-changing. Every founder is chasing nothing more than a valuation just so they can exit and there’s nothing wrong with it but don’t sit on a moral high ground talking about building business etc. There’s a reason we don’t see startups here penetrating west because most of the founders in the Indian ecosystem reek of ego and it’s all because we don’t judge business on merit but based on the degree the founders have. We all can count stupid startups draining money all because they are from some IIT or IIM or now some fancy degree from Ivy and yes it takes effort and hard work to reach there. Still, it automatically doesn’t translate to you naturally being better than a guy working his ass off to make up that difference. Also, just because you used your dad’s money to start a 'Venture Firm or be an angel investor after college doesn’t mean you’re an expert at everything. You’re just adding to the noise and the hype that is already too much in this space. You’re not helping anyone but yourself and your ego. So a friendly reminder can we all actually focus on building things based on hard work and merit instead of glorifying this circlejerk. Can we stop being obsessed with funding rounds and valuations and start being obsessed with solving real problems and creating value for customers and society? Can we stop being influenced by the media and the hype and start being influenced by the data and the feedback? Can we stop being part of the problem and start being part of the solution?