David Rosenthal: uncertainty

Transcript context

…People are still shaking off the shock that Vision Fund I happened, like this notion of, “Oh, we’re about to do it again? $100 billion again?” Yeah. So now, speaking as a fund manager, like any fund manager, it’s in your fund documents that you cannot go raise a successor fund until typically you are at least ⅔, if not more, deployed and reserved of your initial funds. I don’t know exactly how much capital they’ve deployed out of Vision Fund I at this point, but they’re like, “We want to raise fund, too. We got to deploy Fund I.” News comes out that they’re talking about, like you said, Dan, Adam thinks there’s a deal for SoftBank and the Vision Fund to invest $16 billion more in WeWork. And, by the way, this is the first time the issue of control comes up. The news stories that come up with it, that SoftBank would basically buy a majority stake in the company, which even I don’t think was ever explicitly said. The assumption is, if you own most of the company, you get to make most of the rules.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.