Masayoshi Son’s growth-at-all-costs stands in stark contrast to Warren Buffett’s investment style, marked by ruthless value hunting and the strictest assessment of a balance sheet.

The Bernstein analysts noted that some may balk at a comparison between SoftBank and Berkshire Hathaway and sought to justify their reasoning.

“Berkshire leverages the cash from its insurance business to invest into other companies” while Softbank “uses the cash flow from its core telco operation to invest in tech unicorns,” the analysts say.