Trump says SoftBank to invest $50B in US, hopes to create 50,000 jobs
Following a Tuesday meeting with SoftBank's chief executive, President-Elect Donald Trump tweeted that the Japanese company has agreed to invest $50 billion in U.S. business, and create 50,000 new jobs as a result.
Image Credit: Andrew Harnik -- AP
SoftBank founder and CEO Masayoshi Son met with Trump at the latter's transition team offices, located in Trump Tower in New York City. Son is in the process of generating a $100 billion international investment fund for this investment, and others -- while the fund is not yet completely built out, it has already accumulated $70 billion, and is "oversubscribed" with potential investors, according to the executive.
When SoftBank walked away from the effort, the bid for T-Mobile was estimated to be worth $32 billion.
Son is also responsible for the buyout of chip foundry and Apple supplier ARM Holdings for $32 billion in July.
Apple's decision to use an ARM application processor -- and not Intel chips -- in the first iPhone in 2007 proved to be landmark decision that would shape the future of not only Apple, but the entire mobile industry. Since then, custom ARM-based designs have also been used to power the iPad, Apple TV, and iPod touch.
Apple takes ARM's chip designs and developments and heavily customizes them to build its own unique A-series processors, with manufacturing duties handled in the past by Samsung and now predominantly by the Taiwan Semiconductor Manufacturing Company.
Image Credit: Andrew Harnik -- AP
SoftBank founder and CEO Masayoshi Son met with Trump at the latter's transition team offices, located in Trump Tower in New York City. Son is in the process of generating a $100 billion international investment fund for this investment, and others -- while the fund is not yet completely built out, it has already accumulated $70 billion, and is "oversubscribed" with potential investors, according to the executive.
Trump claims that the investment would not have been made had he not won the election.Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs....
-- Donald J. Trump (@realDonaldTrump)
Son could once again attempt a merger between Sprint (80 percent owned by SoftBank) and T-Mobile with the funds, once shot down by the Obama administration. The merger of the third- and fourth-largest carriers in the U.S. would alter the landscape of the wireless market dramatically.Masa said he would never do this had we (Trump) not won the election!
-- Donald J. Trump (@realDonaldTrump)
When SoftBank walked away from the effort, the bid for T-Mobile was estimated to be worth $32 billion.
Son is also responsible for the buyout of chip foundry and Apple supplier ARM Holdings for $32 billion in July.
Apple's decision to use an ARM application processor -- and not Intel chips -- in the first iPhone in 2007 proved to be landmark decision that would shape the future of not only Apple, but the entire mobile industry. Since then, custom ARM-based designs have also been used to power the iPad, Apple TV, and iPod touch.
Apple takes ARM's chip designs and developments and heavily customizes them to build its own unique A-series processors, with manufacturing duties handled in the past by Samsung and now predominantly by the Taiwan Semiconductor Manufacturing Company.
Comments
That's what happens when there is a doer in charge, and not a golfer!
This is just the beginning!
The greatness has already begun!
Yes, your sarcasm--and skepticism of politicians is warranted. But Trump has already shown he's going to do what he says. He's accomplished more in 1 month as PEOTUS than Obama has in 8 years actually being in office. Trump's message is that the US is open for business. He's going to have businesses and capital fighting to get here. Just watch.
This is completely wrong. A chip design is known as the microarchitecture (the actual silicon of the processor). What runs on the microarchitecture is the ISA (instruction set architecture). Apple licences the latter and creates the former. They don't take any ARM chip designs and customize them - they create their own 100% custom microarchitecture (chip designs) that happens to run ARM's ISA (in this case, ARMv8 - though with a few Apple additions).
The 50,000 jobs number sounds huge in the Twitterverse but keep in mind that Target alone hired over 77,000 additional workers this holiday season, Amazon 120,000, and retail overall more than 680,000. With these kinds of numbers you'd expect that you'd no longer know anyone at all on your street or in your circle of friends without a job this holiday season. Surprisingly, this is not the case. The reality is that the US workforce and GDP is massive and while the small wins through direct hands-on attention of a chief executive are great for Twitter attention and ego enhancement it's the macroeconomic policies that the chief executive can push that have real meaningful and long term value to the larger economy. Anyone who thinks that these marquee self-congratualory tweet based actions come anywhere close to the 4.5 million jobs that were created during Obama's administration - while coming out of a heinous recession no less, are living on another planet or in Delusionville, WA. But yeah, compared to President Clinton, Obama's numbers are not impressive, but to imply that Obama didn't have a huge positive impact on jobs is disingenuous. Trump will now have his chance and we'll see ho well he really does on the big stage of reality. I hope he does exceedingly well.
We'll just have to see how this all plays out at the macroeconomic level over the coming years. While many Americans despise the president-elect and his followers it is now in every Americans current and future best interest that his presidential term be successful for all Americans whether we like him or hate him. If he sinks the whole damn ship we're all going down with it and echoes of "I told you so" will ring hollow as your last breath leaves your water filled lungs. The best thing we all can all do as Americans is to do the very best at what we can personally control and influence, be true to our word, do our jobs, take personal responsibility for our actions, and make sure you have your own lifejacket close at hand. Whether the next administration is filled with geniuses or festooned with idiots doesn't absolve any of us from personal responsibility, seeking the truth, and thinking for ourselves.
from cnbc article
I'm afraid he actually might attempt what he said. As a long time New Yorker let me tell you this city has always considered him a joke, a buffoon, a braggart and a bully. He can now add cult leader to all of that. A man who operates on non-fact, (lies) and his followers just drink it like a Kool-aid party in Jonestown. I am not without empathy or understanding for those that voted for him I understand it was an act of desperation for some, pure gullibility for others and worst of all a platform for neo-nazis and the KKK to justify their agenda. The ironic part is that we so called elitists will continue to prosper while the working poor will lose their healthcare, back alley abortions will make a comeback, voting laws will be written to keep minorities from voting against the entrenched Republican Washington. I predict Trump will be impeached before his 100th day in office due to his blending of his office and his enterprises. The only bad side of this is his VP will be even worst for this country. Suckers.