VC Chamath Palihapitiya says Uber is ‘the great American tragedy playing out in a company.’
Over the course of 2017, Uber went from one of the most admired companies in Silicon Valley to one of the most vilified.
Many executive heads have rolled including former CEO Travis Kalanick.
But investors also have responsibility in how a company is run, one famous VC and former Facebook exec argues. He applauds Uber’s biggest VC, Benchmark, for the drastic steps it took this year.
The wave of scandal and controversy that washed over Uber this year has been nothing short of spectacular. But the sad truth is, almost any Silicon Valley startup could be the next Uber.
That’s because every startup is encouraged to begin operating with the same “growing at all costs” playbook that Uber relied on, says Chamath Palihapitiya, the outspoken founder of venture capitalist firm Social Capital. Palihapitiya is a successful VC whose firm has backed companies like Box, Slack, SurveyMonkey, Yammer.
Tech: Former Facebook exec Chamath Palihapitiya: Uber is ‘the great American tragedy playing out’
