Dog-walking startup Wag raised $300M, then things got messy
 What I don't get about the Vision Fund is how so many of its investments lack (pun intended) vision.<p>Other than the ARM, Nvidia, and a few billion in biotech (about $3 billion[1]) investments, so much of the fund has gone into pretty "obvious" traditional startups.<p>If I had a $100 billion fund, I wouldn't be swinging for these singles and doubles (which Uber and WeWork were by the time Softbank got involved, although these companies can still provide value to customers).<p>Vision Fund should've been out-competing Google X to become the financial backer of basically the next Bell Labs. Instead of 3% biotech and 20% Uber and WeWork and Wag, I'd have flipped those two numbers.<p>The biggest loss from the Vision Fund is the opportunity cost of all the great disease-eliminating, fundamental-science research that could've had much greater upside than WeWork. And I never hear that opportunity cost discussed.<p>EDIT: I've added an additional comment with more supporting arguments for taking bigger risks but more ambitious risks when managing large sums: <a href="https://news.ycombinator.com/edit?id=21096651" rel="nofollow">https://news.ycombinator.com/edit?id=21096651</a><p>[1]: <a href="https://finance.yahoo.com/news/softbanks-vision-fund-deploying-100-billion-185127309.html" rel="nofollow">https://finance.yahoo.com/news/softbanks-vision-fund-deployi...</a>