MSNBC - Trump announces $100B US investment from Japanese tech company
SoftBank's CEO announced a $100 billion investment in the U.S., promising to create 100,000 jobs. However, this announcement is seen more as a PR move rather than a genuine investment strategy. In 2016, SoftBank made a similar promise of $50 billion to create 50,000 jobs, but the actual outcomes were unclear, with only $300 million invested last year, marking a 90% decline from the previous year. The discussion highlights skepticism about such announcements, comparing it to Foxconn's unfulfilled $10 billion investment promise in Wisconsin. The investments often don't materialize, and the jobs promised are typically in tech sectors, which don't create large numbers of jobs. The conversation also touches on Trump's promise of expedited permits for large investments, indicating a shift in corporate America's stance towards Trump, with less resistance and more public engagement.
Key Points:
- SoftBank's $100 billion U.S. investment is likely more PR than actual commitment, similar to past unfulfilled promises.
- In 2016, SoftBank pledged $50 billion for 50,000 jobs, but results were unclear and investments declined significantly.
- Skepticism surrounds large investment announcements, as seen with Foxconn's unfulfilled $10 billion Wisconsin project.
- Tech investments, like those from SoftBank, typically don't create large numbers of jobs, focusing more on tech sectors.
- Corporate America's stance towards Trump has shifted, with more public engagement and less resistance than in his first term.