FAST FIVE: The VC Bubble Just Burst: Soft Bank's Top 2 Investors Complain About Overpayment For Tech Companies
While Soft Bank's chairman Masayoshi Son and the Saudis have maintained a cordial relationship, at least in public, the reports of the Saudis dissatisfaction with the Son and his management style isn't all that surprising.
Plans for Soft Bank to increase its investment in Hong Kong-based AI startup SenseTime in a joint $1 billion investment with Mubadala.
is currently raising funds at a $3.5 billion valuation, according to people familiar with the matter.
That is 13 times as high as when Soft Bank first invested in 2015, according to investment data tracker Dow Jones VentureSource.
Perhaps, after Chamath Palihapitiya, the Silicon Valley investor behind Social Capital, warned that venture investments had become like a “Ponzi Scheme”, more of the Valley's biggest backers are having second thoughts about the high valuations to which they have so blithely contributed in recent years.