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SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence (archive.ph)
submitted 3 years ago by [M, B] to c/technology@lemmy.world
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SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence::undefined

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[–] 9 points 3 years ago*

SoftBank is astoundingly bad at this. This is the same company that acquired Sprint, among other bad decisions. Last fall they were happy that they only lost $6 Billion in the quarter because they'd lost $10B the previous quarter. The financial system is really fucked up when companies like this just stay in business despite this type of incompetence.

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