Who hasn’t heard of Masayoshi Son? The Japanese business Tycoon and Founder of Softbank, who promises to invest more than $10 Billion on Indian Startups in the coming years, has himself faced the most difficult times ever.
We have heard of many Fortune 500s and their money making strategies might have impressed us, but Son’s story leaves us more with empathy and excitement.
Masayoshi Son, possibly holds the record of losing the highest number in the history of losing money, approximately $70 billion, $70 billion is the amount most of us only dream of minting, let alone losing it and that too in a matter of 24 Hours. Despite losing a sum of huge amount, Masayoshi Son stood strong and is the second richest man in the Japan today.
Every Business Big Shot quotes that a founder’s luck plays a strong role in building empires, and if it wasn’t for Son’s tough luck, his name would be as easily recalled as Bill Gate’s or Ambani’s. Not many have the heart to stand strong after their empires have overturned.
The Kingfisher, the Layman brother fiasco, and many other downfall stories have made the news recently for their losses. And the point to be noted here is the drama tagged along with the collapse is inevitable but the knowledge is immense for the upcoming entrepreneurs. There is so much to learn from their mistakes and a lot to be inspired from.
Masayoshi Son once confessed at a press conference that he could have been richer than Bill Gates had he not suffered losses during the dotcom crash in 2000.
Dotcom crash was where the investors were recently introduced to the internet experience and billions of dollars were being pumped into upcoming companies through Stock Exchange. The crash concluded with disharmony for many, as NASDAQ lost 78% of its value in a day.
Son, being one of the biggest losers here faced difficult times jumping back to his current fortune. His whims are no surprise in Japan. He has been known as a maverick; the only person to invite comparisons with Bill Gates.
Until very recently, he was only a name for us, Indians, but soon he powered Indian Startups like Snapdeal and OYO Rooms and turned into a messiah.
The things you learn from experience can never be found on pages, a saying truly meant for an entrepreneur, an entrepreneur like Masayoshi Son.
A 3-decade long struggle is what his story is all about. Today, SoftBank is ranked as the 62nd largest company in the world and has an employee strength of nearly 69,000. Yet, even today he isn’t reluctant to innovate his processes and always looks forward to newer grounds to expand into. India, to him, is a land of opportunities.
According to Son, Indian Startups have a lot of potentials and the chapter of the 21st century will be marked by us. At the Startup India, he along with his COO Nikesh Arora shared Softbank’s vision for the domestic market and hinted on their plans for a better India.
It is as bright as the sun and will continue to shine its light on the globe’s economy in the years coming ahead.
Talking about India vs China, Son confesses that he sees India as a more profitable nation for its advancement in telecommunication and its managerial proficiency.
I believe Technology will be the bellwether for mankind and I enjoy a good talk on Global Affairs. Some of my other indulgences - Motorcycles, New Words for my Vocabulary and Delicious Food Everyday.