If you’re going to “HODL!”, hodl through a 99% loss like Softbank CEO Masayoshi Son did in the early 2000 dotcom bust
Softbank (SFTBF) CEO Masayoshi Son is the 2nd richest man in Japan. He is known for being one of the early investors in Yahoo (bought in 1995) and Alibaba (1999) as well as the man behind the Vision Fund. The Vision Fund is the biggest tech VC fund in the world and has been an early investor in Uber and DoorDash.
Son is also known for being the man that lost the most money in human history (roughly $70 billion out of 76 billion of personal wealth in the 2000 dot com crash); Softbank crashed from $180 billion to 1.1 bil during that time as well. Now that the high flying Vision Fund has soared this past year (which 99% decrease in profits year-over-year in early 2020), it's obvious to see who Masayoshi Son really is.
Son is the OG HODL-er, the real diamond hander, and the first "this guy fucks."
2 things to learn about HODL-ing from Son.
- If you're going to HODL, you better believe in what you're HODL-ing. Son was a huge believer in the future of the internet. DYOR and HODL only what you completely believe in. This helps you mentally prepare and commit to a reasonable investment plan. For example, my friend committed himself to buying XX dollars of ETH every $25 dollar drop in ETH price during the 2018 downturn.
- You can only HODL what you can totally throw away. This is the good old "don't invest more than you can lose." Masayoshi Son could HODL so much only because he was already rich and could risk a lot.
** This is not financial advice. This is merely entertainment material for moon-farming. Thank you for coming to my TED talk.