Uber’s No Good, Very Bad Deal with Saudi Arabia [Dan Primack – Fortune]
Uber has taken a $3.5 billion investment from a government that effectively prohibits women from driving—let alone driving for Uber. Uber also has accepted a $3.5 billion investment from a government that requires women to have male guardians. Uber also has accepted a $3.5 billion investment from a government whose court system has sentenced men to jail time and corporal punishment for the “crime” of homosexuality—not to mention all of the harsh sentences, sometimes including death, for political protest.
Moreover, this is no passive investment. By naming political appointee Al Rumayyan, the company has basically invited the Saudi government into its board room. To my knowledge, no other Silicon Valley startup has a director from the sovereign wealth fund of a repressive political regime.