SoftBank CEO Masayoshi Son had a crisis of confidence that left him in tears for days
SoftBank CEO, Masayoshi Son, opened up about his emotional journey during the company’s annual meeting in Tokyo. Son revealed that last year, he had a profound realization that he would never be able to fulfill his dream of becoming an architect, leading him to have a breakdown and cry for days. He expressed the emptiness he felt when asked about his achievements as an entrepreneur. However, Son has since resolved to become an “architect for the future of humanity.”
To pursue this new passion, Son has turned to artificial intelligence. He mentioned that he had been using the OpenAI-backed chatbot, ChatGPT, on a daily basis for brainstorming ideas. Son claimed to have pitched more than 600 inventions to the chatbot during the past eight months. He shared an anecdote of an exchange that took place at 3 to 4 in the morning, where he repeatedly pitched an idea to the chatbot. Eventually, his idea was praised as feasible and wonderful, leading him to feel great.
Son also revealed that he has set up five offices to file patents for his inventions. Although it remains unclear what these inventions are or if AI powers them, it showcases Son’s determination to explore new opportunities as an architect.
During the meeting, Son addressed SoftBank’s past mistakes, particularly its heavy investment in the Vision Fund and its subsequent $8.9 billion loss in 2019. This loss was attributed to Son’s strategy of betting big on cash-burning startups. SoftBank responded by halting new investments and leveraging its shares in Alibaba for financing. Despite these setbacks, SoftBank still boasts more than $35 billion in cash.
Son defended the Vision Fund losses, stating that SoftBank has made investments in approximately 500 companies and expects several of them to be significant successes. He emphasized that SoftBank has been on the defensive for long enough and is ready to go on the counteroffensive, focusing on its AI initiatives.
Son highlighted SoftBank’s work with OpenAI, particularly praising its CEO, Sam Altman. He urged companies not to shy away from generative AI, despite the need for increased regulations. SoftBank has consistently focused on AI development, particularly through its subsidiary, Arm, which aims to accelerate the development of new technologies, including AI and augmented reality.
Son expressed his excitement about SoftBank’s future ventures in AI, stating that he wants to achieve his inventions one by one with the help of Arm’s technology. He believes that the combination of his ideas and Arm’s capabilities will lead to incredible opportunities.
FAQs:
1. What made Masayoshi Son cry during SoftBank’s annual meeting?
Masayoshi Son cried after realizing he would never be able to fulfill his dream of becoming an architect.
2. How did Masayoshi Son find solace after his breakdown?
Son found solace in artificial intelligence, particularly by using the OpenAI-backed chatbot, ChatGPT, for brainstorming ideas.
3. What inventions is Masayoshi Son working on?
Son has not revealed the specifics of his inventions, but he has set up five offices to file patents for them.
4. What was SoftBank’s major loss in 2019?
SoftBank suffered an $8.9 billion loss in 2019, primarily due to its investment strategy in cash-burning startups.
5. How is SoftBank recovering from its past losses?
SoftBank halted new investments, leveraged its shares in Alibaba, and currently has over $35 billion in cash.
6. What is SoftBank’s focus for the future?
SoftBank is betting big on artificial intelligence, particularly through its subsidiary, Arm, which aims to develop new technologies faster.
7. Who did Masayoshi Son praise during the meeting?
Son praised OpenAI’s CEO, Sam Altman, referring to him as “one of the key people on Earth.”
8. What advice did Son have for companies regarding generative AI?
Son warned companies against avoiding generative AI and emphasized the need for increased regulations in the field.
Masayoshi Son, SoftBank CEO, Struggled with a Severe Crisis of Confidence That Emotionally Affected Him for Days
SoftBank’s CEO, Masayoshi Son, recently opened up about his emotional journey as he realized he would never be able to fulfill his dream of becoming an architect. During the company’s annual meeting in Tokyo, Son confessed to shedding tears for days after being asked about his achievements as an entrepreneur last October.
Son, a 65-year-old tech tycoon, described feeling a deep emptiness before coming to terms with his unfulfilled dream. He has now shifted his focus towards becoming “an architect for the future of humanity” and is particularly interested in ChatGPT, an AI-backed chatbot. Son revealed that he has used ChatGPT to brainstorm over 600 inventions for SoftBank in the past eight months. In an intriguing exchange, Son pitched an idea to the chatbot, and after multiple attempts, he felt exhilarated when his idea was praised as feasible and wonderful.
Furthermore, Son revealed that he has established five offices dedicated to filing patents for his creations. However, the specifics of these inventions and whether they rely on AI remain unknown, as SoftBank has yet to comment on the matter.
Son’s recent revelation came during his first major presentation since November. When asked about SoftBank’s investment in venture capital company Vision Fund, Son expressed regret for significant mistakes made. Vision Fund suffered a massive $8.9 billion loss in 2019, its first quarterly loss in 14 years, primarily due to Son’s strategy of betting heavily on cash-burning startups. This setback prompted SoftBank to halt new investments and utilize nearly all of its shares in Alibaba for financing. Despite these challenges, SoftBank currently boasts over $35 billion in cash, although it recorded a net loss of $6.9 billion for the fiscal year ended in March.
During the Tokyo meeting, Son defended the Vision Fund losses and emphasized that SoftBank has invested in approximately 500 companies, expecting a number of them to become significant successes. He insisted that the company has reached a point where it has “done enough being on the defensive” and is now ready to go on the offensive, particularly in the realm of artificial intelligence.
Son expressed his excitement about SoftBank’s ambitious ventures with AI, highlighting the importance of generative AI and praising OpenAI CEO Sam Altman as “one of the key people on Earth.” SoftBank’s focus on AI includes the development of Arm, a technology aimed at accelerating the development of new AI and augmented reality innovations.
Son concluded the meeting by expressing his determination to achieve his inventions one by one, with Arm playing a vital role in their realization. He believes that by combining his ideas with Arm’s capabilities, incredible opportunities will arise. As SoftBank continues its AI-centric strategy, Son vows to stay on topic, cover the subject in depth, and soon launch a counteroffensive after years of preparation.