SoftBank is an IT support and telecommunications powerhouse. Their headquarters are in Tokyo, Japan. But they made history again. Because they teamed up with an unlikely ally to create a mega fund. SoftBank and Saudi Arabia Create a tech monster.
Hence, this monster is the world’s biggest technology fund. They call it Vision Fund. ?The fund will start with $93 billion. Also, Japan and Saudi Arabia hope this fund challenges Silicon Valley investors. We will see. How is Saudia Arabia in this? Because the Saudi prince is the main investor. Not only that, but tech giants Apple and Qualcomm take part. So is US President Donald Trump. SoftBank promised President Trump this deal would give the US 50,000 jobs.
Keep in mind this happens while Trump visits the Saudi Royal Family. So why did Saudi prince Mohammad bin Salman invest in this? Because he wants his nation to be a powerhouse in technology, not just oil. So why did SoftBank CEO Mr. Son create this deal? He dreams to have a tech powerhouse outside of Japan. This deal was months in the making. In fact, there was so much infighting they didn’t think this deal would happen at all. But it did. SoftBank and Saudi Arabia created a tech monster.
But what does this have to do with the rest of us in computer repair, or other tech aspect? Well, if this SoftBank and Saudi Arabia deal does create all these jobs, then things will definitely look up. Here in the US, we need all the jobs we can get. Furthermore, we need all the tech jobs we can get. But I’m skeptical. How many times have we heard this before? So I’ll believe it when the jobs come over here. What about Silicon Valley. This SoftBank and Saudi Arabia deal will give them competition. Maybe that’s what they need in California: a wake up call. What do you think of this SoftBank and Saudi Arabia potential tech monster?