john was this inevitable given the broader market situation right now exactly softbank last month reported its worst quarterly loss of more than 20 billion dollars at its vision fund unit for the june quarter and at that time softbank had marked down like two 284 companies in its portfolio and the markdowns included hundreds of private companies including the likes of oil and softbank and provide a company by company breakdown so details have always been vague but our reporting shows how oil has recently been significantly marked down especially when compared to its initial reported value of nine to 10 billion this bet has been quite problematic for massa theres been a lot of unflattering comparisons to the likes of we work what went wrong with this investment grade its not its not just specific to oh you like how you just mentioned we work a lot of privately held companies have suffered valuation slides and valuations and this isnt particularly good for oil which is actually preparing to go public next year sources have told us the firm may be targeting a valuation closer to 5 billion us dollars but it really depends on how the market performs from here and whether investors are willing to give the company high multiples