The latest wave occurred in 2020 and 2021. Now valuations have collapsed, and some of its prior investments also collapsed, such as Katerra and Greensill. And a slew of its companies that went public via SPAC merger or IPO over the past two years have now joined my Imploded Stocks, whose share prices have collapsed by 70% or 80% or more from their highs, including Grab, the biggest SPAC ever, Compass, WeWork, and Didi.
Its two Vision Funds and predecessor booked investment losses of $22 billion in the quarter, after having booked losses of $22.2 billion in the prior quarter, for a combined $44 billion in losses.These losses over the six-month period annihilated the cumulative crazy-bubble gains since Q1 2017, when the Vision Fund 1 was launched. Losses were spread across the portfolio of over 300 companies (chart via SoftBank’s presentation):SoftBank Lost $39 Billion in 6 Months, Wiping Out the Bubble Gains of the Vision Funds Since 2017: Easy Come, Easy Go | Wolf Street