For months, Masayoshi Son, SoftBank’s voluble founder and chief executive, kept quiet as his tech conglomerate struggled with huge investment losses. Although the company’s Vision Funds have suffered big paper losses amid the decimation of start-up valuations, he said SoftBank had since amassed more than $35 billion in cash in “defense mode,” and was ready to invest it. (The company also stands to benefit from the forthcoming initial public offering of Arm, the chip designer it owns