This long-standing but unofficial rule that investors shouldn’t fund multiple competitors in the same space is often flouted by another bigwig investor—SoftBank. The Japanese fund is an investor in Uber, the US-based ride-hailing app, and Ola, its Indian counterpart, and both Uber and Ola are direct competitors in India. It is also an investor in DiDi, the Chinese ride-hailing giant, and Grab, one of Southeast Asia’s top ride-hailing apps. These investments have created a mess with its conflicts. Uber exited Southeast Asia by selling its business to Grab for a 27.5 per cent stake. Grab competes with DiDi in Thailand, China, and a few other countries in Asia. By placing its bets in competing companies, SoftBank remains the winner irrespective of who rules the markets in its regions of investment.