title:  NOTHING About Those 50,000 Jobs From Japan Is What Trump Says It Is (VIDEO)
text: For the second time in as many weeks, Trump s Twitter feed has been filled with bravado over his job saving and job creating expertise. First, it was Carrier. It turned out to be a lie and a bad deal all around, but that didn t stop Trump from bragging that he saved 1,000 jobs.On Tuesday, Trump announced via Twitter that a Japanese company called SoftBank was ready to move 50,000 jobs to the United States. Naturally, Trump took credit for it.Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs .  Donald J. Trump (@realDonaldTrump) December 6, 2016 @realDonaldTrump: Masa said he would never do this had we (Trump) not won the election!  Trump For President (@TrumpD2016) December 7, 2016Trump also held a press conference in front of Trump Tower saying: Ladies and gentlemen, this is Masa from Japan,  Trump told reporters at Trump Tower as he introduced CEO Masayoshi Son, whose company, SoftBank, owns Sprint.  He s just agreed to invest $50 billion in the United States and 50,000 jobs. He s one of the great men of industry, so I just want to thank you very much. Thank you. Source: PoliticoHere s the video:Anyone who s followed business or has ever taken a business class knows that it s impossible to iron out a deal like this in just a few weeks. Well, that s because it hasn t been ironed out and, well, it s been in the works since October.SunBank is not a bank. They are a technology company with a majority ownership in Sprint. They had previously tried to merge with T-Mobile but gave up after Obama expressed a concern about growing telecom monopolies. This is likely the reason Son is excited about Trump s presidency.In October, SoftBank announced the creation of a $100 billion fund, backed by Saudi Arabia. It appears that this latest  deal  is part of that.The reason  deal  is in quotes in the above paragraph is that there is no deal. There is talk of a deal, but all we ve seen so far is a PowerPoint slide. There is no legally-binding contract, there is no timeline, although according to the PowerPoint slide, it would take place over four years. As for the $50 billion investment, only a portion of that will be coming from SoftBank if it comes at all.Son said in a speech Friday in New Delhi that $25 billion of the money was put up by SoftBank, $45 billion by the sovereign wealth fund of Saudi Arabia, and the remaining $30 billion by other investors, according to Bloomberg.The fund, therefore, plans to invest half of what it has raised in the US. For comparison, a study of all 2015 venture capital funding in the world by EY found that roughly half of these investments were made in US-based companies, so this allocation does not appear to be out of the ordinary.Source: Business InsiderPerhaps the most important thing is that SoftBank, like Trump, can t be trusted. They are already a large American employer and just last year, Son announced his plan to cut thousands of jobs. However, even as early as last November, Son was hinting at this latest plan, saying that he plans on increasing the company s stake in Sprint.Featured image via Sara D. Davis/Getty Images.