> SoftBank had told investors and credit-rating companies that it planned to make big investments principally from the Vision Fund, not its own balance sheet. It said that except for the capital that the group had contributed, it wouldn’t be on the hook for any losses in the fund.

The WeWork bailout throws that fundamental premise into question and makes it harder to calculate SoftBank’s liabilities and obligations, said a person who watches the credit markets closely.

This looks bad both ways. From a SoftBank investor's perspective, Masa is bailing out the Saudis. From a Vision Fund investor's perspective, SoftBank is buying for $8 billion what the former were sold at $47.