SoftBank’s message to entrepreneurs: profits matter
Message by founder and CEO Masayoshi Son, who invests heavily in startups, underscores decision to oust WeWork chief.
Masayoshi Son, long known as a free-spending benefactor who encouraged startup founders to pursue their dreams even if it meant losing billions of dollars, had a different message for entrepreneurs last week: Your dreams had better be profitable.
The chief executive officer of Japan's SoftBank Group Corp. told company leaders gathered at the five-star Langham resort they need to become profitable soon and stressed the importance of good governance, according to a person who attended the event. Public investors aren't going to tolerate gimmicks, like super-voting rights or complicated share structures, that privilege founders over other stakeholde...