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Busted Billion-Dollar-Baby Fraud Finds Another Greater Fool – Softbank Lends Theranos $100 Million!

Japan’s Softbank Group is coming to the rescue of yet another embattled Silicon Valley “unicorn”. The Wall Street Journal reported Saturday that Fortress Capital, the publicly traded private-equity firm that agreed to sell itself to the Japanese conglomerate earlier this year, has extended a $100 million loan to Theranos, which is still facing multiple lawsuits […]


WeWork: London’s Soon-To-Be Biggest Property Renter Makes Massive Bet On Office Market Despite Brexit

The rationale for creating WeWork, the eco-friendly serviced workspace provider, was simple as co-founder Adam Neumann explained to the New York Daily News. “During the economic crises, there were these empty buildings and these people freelancing or starting companies. I knew there was a way to match the two. What separates us, though, is community.” […]


Uber Reports Massive $1.5 Billion 3Q Loss As Two Investors Drop Out Of New Financing Round

Following an embarrassing revelation from about a weak ago that Uber concealed a massive cyberattack – in which hackers stole personal data from 57 million customers for more than a year – and paid the hackers $100,000 to keep quiet (not to mention the plethora of other scandals of late), investors in the private company […]


Frontrunning: November 28

Traders await Powell hearing; Brexit doubts grip pound (Reuters) Fed nominee Powell, once hawkish, now champions Yellen’s focus on jobs (Reuters) Tax drama intensifies as bill faces key vote (Reuters) Trump Appointee Asserts Control Over CFPB for Now (WSJ) Senate Bill in Limbo Amid Budget Panel Drama (BBG) Tough OPEC meeting looms amid specter of […]


Unicorn-holed: Softbank Coalition To Buy Uber Shares At A 30% Discount

And the hits keep coming for the unicornest unicorn in all of unicorn-land… Back in the summer, we suggested – for numerous reasons – that Uber's next round of financing may come at a significant discount to its current $69 billion valuation. Overnight, headlines hit that SoftBank was said to have learned of last year's […]


Frontrunning: November 13

Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ) Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters) GE’s New CEO to Focus on Power, Aviation, Health (BBG) GE Slashes Dividend Amid Restructuring (WSJ) Uber board strikes agreement to pave way for SoftBank investment (Reuters) World’s Top Tech Giants Amass $1.7 Trillion […]


Sprint, T-Mobile Plunge: SoftBank Calling Off Merger

Sprint stock plunged, and was halted by the exchange volatility trigger, when the Nikkei reported moments ago that Japan’s SoftBank Group plans to break off negotiations on the long-awaited merger between its subsidiary Sprint and T-Mobile US due to a failure to agree on ownership of the combined entity, “dashing the Japanese technology giant’s hopes […]


Sprint, T-Mobile Plunge On Report SoftBank Calling Off Merger; Rebound After CNBC Denies

Update: … or maybe not, because shortly after S and TMUS tumbled, CNBC denied the original Nikkei report: SOFTBANK DOESN’T HAVE PLAN TO WITHDRAW FROM SPRINT TALKS: CNBC It is unclear if this announcement was made as a favor to some of the deal’s M&A arbs who are painfully blowing up today, but for what […]


Uber Shareholder Drops Lawsuit Against Kalanick, Clearing Way For Softbank Investment

Tuesday’s meeting of the Uber Inc. board – the first following Kalanick’s unilateral decision to appoint former Xerox Corp. Chairwoman and CEO Ursula Burns and former Merrill Lynch Chairman and CEO John Thain – appears to have been a productive one. Reuters is reporting that the board voted to move ahead with two issues, a […]


Softbank Agrees To Block Kalanick From Returning As Uber’s CEO

Travis Kalanick’s hopes to someday return as Uber’s CEO have just been dashed. Japanese conglomerate Softbank has struck an agreement with Uber’s shareholders to block Travis Kalanick from ever being reinstated as the leader of the perennially cash-burning ride-hailing company, according to Bloomberg. As the Wall Street Journal reported earlier this month, Softbank is seeking […]