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SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump he would create 50,000 new jobs in the U.S. through a $50 billion investment in startups and new companies.
The money will come from SoftBank's previously announced $100 billion technology fund, according to a person familiar with the matter. That investment vehicle has a $45 billion commitment from the government of Saudi Arabia and $25 billion from Tokyo-based SoftBank, which operates technology and wireless companies around the world.
[...] Some investments from SoftBank's fund, which was unveiled in October, were probably destined for the U.S. anyway, given the nation's leadership in the global technology industry. But Son hadn't previously committed to creating a specific amount of jobs through the investment vehicle.
More coverage from Washington Post and Reuters.
(Score: 2) by fubari on Wednesday December 07 2016, @09:45PM
Azuma, as entertaining as your critique was (I did enjoy it :-) ), help me understand what part of the following is actually all that crazy?
JMorris wrote:
Real economic activity, real production. Not fake money in silicon valley as .com bullshit creates trillions in virtual money as valuations of companies who have never made a real GAAP profit and even the suggestion they might someday make a profit crashes the market cap.
(Score: 0) by Anonymous Coward on Wednesday December 07 2016, @09:48PM
Reagan was the start of republican spend-and-spend economics that created severe debt.
At least the democrats are smart enough to pay for the spending with taxation.
(Score: 3, Insightful) by RedGreen on Wednesday December 07 2016, @10:54PM
"Reagan was the start of republican spend-and-spend economics that created severe debt.
At least the democrats are smart enough to pay for the spending with taxation."
That was the point of reganomics spend until you cannot spend anymore then you have to gut any actual spending that benefits the people. Then you have the big bad government portion of that strategy that they somehow seem to ignore when in power ever increasing the size of it. But still did not stop the propaganda demonizing it to you get to where we are today with an absolute fucking moron at the the head of the US soon to come. It has been a fifty year long play that has come to fruition hopefully the damage is not to great this time around. But pessimist in me says that the coming years are going to make the race riots of the 60s seem like a cake walk.
"I modded down, down, down, and the flames went higher." -- Sven Olsen
(Score: 2) by Joe Desertrat on Wednesday December 07 2016, @11:01PM
Real economic activity, real production.
Because saying it is this does not make it so. We can wait and see, but chances are the sort of "jobs" touted as a result of such business investment will for the most part never materialize. More likely they will be something like Rick Scott's (the governor of Florida, soon to be a presidential candidate near you!) touted "jobs". A tax break for a company holding potentially valuable private property promising construction and creation of new business. Years later, nothing has been built, no jobs have been created, and it is apparent the property is just being held until real estate values rise enough to make a profit selling the land.
(Score: 3, Insightful) by Azuma Hazuki on Thursday December 08 2016, @07:40AM
Several people have already said basically what I was going to. Basically, Reagan is the reason we've had 35+ years of this trickle down bullshit. Just about every economic disaster we've had can be laid squarely at the feet of him and his policies continued on by others.
Trickle-down does not work. It never has. It can't. It's based on the idea that the best way to feed the poor is to give the rich ever-more sumptuous feasts, in the hope that some crumbs will fall off the table for the poor to eat. And the analogy doesn't even cover the worst of it, because to work better, the rich would have to also be able to expand their table at will, criminalize the poor taking scraps that fall off it, and actually rip pieces of living flesh off the poor and devour them as they watch.
I really, really wish I could bring that senile fucking clown back from the dead just to be the one to send him to hell personally. In many, many small pieces.
I am "that girl" your mother warned you about...