Avoid Soft Bank funded companies?
i am at Zume, Soft bank funded company. The only thing this company has is 375 millions from Softbank. No product, absolutely no work for 200 or so sofware engineers. A top heavy management. Valuation at 2.2 B is a big joke. my guess is 2.2 millions real value. Management exodus. Every other company in Zume’s situation would layoff 90% of staff, since Zume has money they can do whatever they want. Since everyone of us are searching for jobs. One question that always comes up in discussions, “avoid softbank funded companies?”. Question : Are we penalizing softbank funded companies just because Zume, or is it the fact. Please share your feedback.
I would discount any SoftBank startup. They are so heavily funded with billions in funding that they have some huge valuations that never materialize. Look at Uber, weworks, cruise automation
Just DYOR and always be leetcoding
How is their Vision Fund doing?
They had a report released on its performance it actually wasnt too bad. But WeWork was a massive loss. They have had some wins which is keeping them in positive gains on a shit pile of money, BUT of they have any more WeWork type losses it could get ugly...
Understood. Thank you very much!
I thought zune died
I interviewed their for a lead architect role. Sounded like they had no clue about enterprise architecture and I was talking to some pretty senior people. They wanted to pay a lot in their stock at the soft bank valuation. I had trouble not laughing as they tried to justify a valuation that high with basically no revenue or users except for delivering a couple pizzas....Really cant make that shit up...
This is why recession cycles are healthy. We don't like them, but it prevents non-productive jobs and companies.
OP, good you recognized this now instead of drinking the kool-aid. Now start leetcoding and applying so you can find something good while you still have a job!
SoftBank bets of a wide array of companies, expecting plenty will have zero or negative return. SoftBank investing shouldn’t be taken as a negative signal unless you want to interpret it that way. Also keep in mind the inside of the company is almost certainly much different to how it’s reported in the media - this is definitely the case at Uber.
I think SoftBank falls for fancy UI😂😂
Don’t you guys make pizza
With AI. Show some respect 😋