"Our economy is the best it has been maybe ever."
"In particular, 'intelligent contracts' [based on blockchain technology] were supposed to replace computer programs, and provide a new way to [protect the integrity of information systems]. But they did not bear much fruit. Despite ambitious projects and tens of millions of Dollars devoted to various blockchain applications, the only place it worked was the one in which it began."The blockchain technology still only serves one purpose, to keep track of cryptocurrency transactions. All other applications seem to have been more or less abandoned, including the initiatives made by Facebook on its 'Libra' project. The blockchain can do some things, but its range is more limited than many had thought."
"The gross value of all Softbank's holdings is around $260 billion. But the stock market valuation of Softbank itself is only $98 billion. The group has a debt on the order of $50 billion."So, the market is discounting the value of its assets by nearly $100 billion because it has a bad opinion of Softbank's management."