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With his reputation on the line, Japan's most controversial tech investor needs a win with the PayPay app. (Illustration by Nakako Shiotsuki/Michael Tsang)
The Big Story

SoftBank wants to burn money

Masayoshi Son zeros in on Japan, where he is ready to lose billions in a battle to conquer cash

WATARU SUZUKI, Nikkei staff writer | Japan

TOKYO -- In its most extreme form, a psychological condition known as chrometophobia -- fear of money -- can take over the lives of people who suffer from it. They recoil from the sight of cash, flinch when touching or coming into contact with paper bills and coins.

SoftBank Group, Japan's most aggressive venture capital investor, thinks they might be onto something. Its latest multibillion-dollar technology bet is being marketed on a simple proposition: In the age of the coronavirus, cash is immensely dangerous.

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