It is the 13th of November 2019

News

Uber Admits It Hid Massive Cyberattack For Over A Year, Paid Hackers To Keep Quiet

Just when you thought Uber had hit rock-bottom and was on its way back up...

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Benchmark Sues Travis Kalanick For Fraud, Breach Of Contract And "Gross Mismanagement"

The life of embattaled Uber ex-CEO Travis Kalanick just went from bad to worse, when on Thursday afternoon venture capital firm Benchmark Capital, one of the early investors in Uber - perhaps sensing that instead of an IPO, Uber's next valuation will be a 40% down round - just sued Kalanick for fraud, breaches of fiduciary duty, and breaches of contractual obligations in Delaware Chancery Court. If the lawsuit is successful, it is likely that the now former CEO will also be kicked off the board of the company that he launched.

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A Primer On The "Global Sharing Economy" In 20 Charts

This morning, BofA has released a humongous, nearly 200-page "primer" on the global sharing economy which in the eyes of Wall Street and Silicon Valley is the biggest disruptor behind virtually all 21st century business models. Since it is impossible to summarize the report, which will be largely ignored by most of BofA's clients who will instead focus on the hundreds of charts scattered throughout, we will simply summarize the basics as laid out by BofA, and then present some of the more interesting charts, with the remainder to be published in subsequent thematic posts.

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Uber Secretly Tracked Users, Spied On Lyft Prompting Tim Cook To Threaten Apple Store Expulsion

Almost two months after it was revealed by the NYT that Uber had used a deceptive tool called "greyball" to deceive and circumvent official authorities, CEO Travis Kalanick may be in trouble again following a new expose by the NYT's Mike Isaac (who may ot may not have a grudge against Kalanick) writes that in 2015 Uber was "on the verge brink of implosion" after Apple had learned that Uber was spying on its users.

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"This Is A Cash-Burning Machine" - Uber Opens Up Its Books, Shows Staggering Losses

Amid a sudden and seemingly endless stream of public relations disasters (senior execs leaving, sexual harrassment scandals, uncomfortable video clips, self-driving car fiascos, secret software programs, and mishandled DUIs), Uber opened up its books to Bloomberg, prompting one analyst to exclaim "this is a cash-burniung machine."

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Uber President Quits After Allegedly Deciding Series Of Scandals Were Just Too Much

Jeff Jones, the former Target CMO who joined Uber less than a year ago as President of Silicon Valley's priciest 'decacorn', is leaving the company, according to Recode.  Jones is reportedly exiting as the company deals with a flurry of recent controversies, including allegations of sexual harassment and an embarrassing video that surfaced last month of Uber CEO Travis Kalanick berating an Uber driver.  Kalanick also recently announced a search for a COO to help him better steer the ship, though it's unclear whether the layering of the executive management team affected Jones' decision to leave.  Per Recode:

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