SoftBank plans Vision Fund job cuts after record $23.1-bn net loss in Q2

SoftBank was in a bubble on valuations, no sacred areas for cost cuts, says CEO

SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss.
 

Vision Fund, which upended the world of venture capital with splashy bets on startups such as ridehailers Uber and Didi, posted a $23.1 billion loss in the April-June quarter as value evaporated from its investments in the market rout.
 

"The world is in great confusion," Son said at an earnings news conference.
 

The result caps a tumultous six months for the