TOKYO/JAKARTA -- SoftBank Group's massive $9 billion loss on Vision Fund investments such as WeWork is rippling across Asia's technology scene, with startups scrambling to change their business plans amid a new "tech winter" that can no longer count on endless capital from Masayoshi Son.
From Indonesia to India, technology companies that recently pursued a visionary strategy of growth-at-all-costs are now pulling in their belts and making "profitability" the new mantra, according to interviews with executives and employees at SoftBank-backed companies across Asia.
