Analysis: This is why Uber's global expansion poses risks as it goes public
3. The company could suffer reputational damage because of safety incidents involving the service abroad.
Uber says cash-paid trips accounted for 13% of its global gross bookings. But the company also warns that the use of cash can increase security issues for both riders and drivers, increasing the likelihood of robbery, violent or even fatal attacks. The company says it also opens it up to regulatory scrutiny.
The company has also faced scrutiny for anti-competitive behavior, especially as its international strategy relies heavily on mergers and acquisitions. For example, Singapore's competition regulatorYou are readingBITS, NIBBLES AND BYTESBITS: As Uber goes public with a valuation of about $82 billion today, the company says its real strength isn't in being a taxi alternative.
“We are still barely scratching the surface when it comes to huge industries like food and logistics, and how the future of urban mobility will reshape cities for the better,” Uber CEO Dara Khosrowshahi wrote in a letter that is part of the company’s filing to go public. Republican FCC Chairman Ajit Pai charged that the firm is “owned and controlled by the Chinese government,” a connection that raised a “significant risk” that authorities there could “conduct activities that would seriously jeopardize the national security, law enforcement and economic interests of the United States.”
Davenport writes, “he made an emotional case for humanity to expand out into the cosmos, a passion he has held since he was a child and has called the most important work he is doing today.”
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