WeWork's troubles had also forced Softbank, the Japanese technology conglomerate founded by billionaire Masayoshi Son, to announce its first quarterly losses in 14 years. For many investors, the capitulation of WeWork, whose founder had created a labyrinthine governance structure and beer-on-tap culture that had almost led it to bankruptcy, was a hammer blow to Son's reputation. Questions were growing over SoftBank's due diligence process for the start-ups it backed and its reputation for placing big bets on young and unproven companies. So why would Elliot, which has over $40bn of assets under management and owns the likes of Italian football club AC Milan, fork out billions of dollars for a stake in SoftBank?