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Comment by jacquesm

2 hours ago

Michael Jordan has skill.

When you can throw billions around for investments then on balance you will make a lot of money because you can take a lot of risk. But it does not say anything about any particular investment and if you look at the ratio of good bets to bad bets then SoftBank is terrible. That does not mean they won't make money or that they won't be able to keep doing this. Capital - especially at this level - begets more capital.

> When you can throw billions around for investments then on balance you will make a lot of money because you can take a lot of risk.

How does this explain a $20M bet on Alibaba that netted $60B?

> if you look at the ratio of good bets to bad bets then SoftBank is terrible.

So does a16z, Sequioa, etc...

This is venture investing 101 - they have power law returns. Don't let your survivorship bias cloud your vision.