For a long time SoftBank founder Masayoshi Son seemed to have a golden touch.

Not right now though.

The Japanese investment powerhouse plunged to its first quarterly loss in 14 years on Wednesday (November 6).

It was sunk by a loss of 8.9 billion dollars at its Vision Fund.

That's due to tumbling valuations at top tech bets like Uber and WeWork.

Last month SoftBank was forced to spend more than ten billion dollars to bail out the office-sharing firm.

WeWork's attempted IPO flopped, and investors are concerned over how fast it's burning through cash.

SoftBank was helped by rising profits at other units, like its Japanese mobile phone network.

But the group was left nursing an overall operating deficit of 6.5 billion dollars.

The losses cast doubt on its next move: Vision Fund 2, which Son said would have 108 billion dollars to put into tech firms.

Now he says there will be no change in strategy, or schedule.

He calls WeWork a one-off, and claims SoftBank still delivers twice the average returns.

But Reuters sources say investors have been slow to pledge money for the new fund.

Some, perhaps, no longer quite so quick to trust Son's judgement.