In May 2020, SoftBank executives, having invested nearly $2 billion in Katerra, decided the vision of an end-to-end, vertically-integrated construction process was worth saving-with some major changes to company structure. The SoftBank Vision Fund invested $200 million in Katerra as part of a company restructuring in which cofounder Michael Marks stepped down as CEO, and former oil industry executive Paal Kibsgaard was promoted from chief operating officer to CEO. However, by June 2021, Katerra had initiated the bankruptcy process. Should Katerra's failure be attributed to mistakes made by the company's management team? Or did the company encounter a series of misfortunes that made it impossible to continue forward?