Gavin Baker @GavinSBaker Husband, Becky Painter. CIO, Atreides Management. Former PM, Fidelity OTC fund. No investment advice, views all my own. Jan. 06, 2020 1 min read

1) Fascinating. Walking away from deals post term sheet, funding competitors to large portfolio co’s (Rappi, Doordash, DiDi’s global expansion) when being a “capital cannon” was a key part of value add and ousting multiple founders are all significant. 

2) As I’ve noted, Masa has been resilient before when facing much more adversity and would not bet against him lightly. For the "he was lucky" chorus, reminder that outcomes matter most in investing. Taking away most great investors top 2-3 contributors really changes their #'s

3) Important to realize that Softbank encompasses much more than VF. Interesting developments within the larger portfolio recently with Line/Z Holdings merger and ARM responding intelligently to RISC-V which is a bigger threat to ARM than MIPS ever was. 

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