But Son has been skittish about President Xi’s intensifying crackdown on mainland tech giants, from Ant Group to Didi Global to Tencent Holdings. He has now pivoted to a defensive posture on China. “It’s because we would like to wait and see a while,” he says. SoftBank, he admits, is “facing tough challenges when it comes to investments in China.” He adds: “That’s something we’d like to be careful about, and be cautious.”
Son is not alone.