Softbank Founder Cautions Startups, Unicorns To Prepare For Challenging Fundraising Winter

Founder and CEO of Japanese investment firm Softbank, Masayoshi Son, cautioned unicorns and startups to brace themselves for a hard fundraising winter. Son stated that unicorn executives "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think." The winter for publicly-traded firms is still ongoing, but a similar decline for startups may endure "longer," said the 64-year-old CEO.