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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: 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...