Uber hack coverup: Your next US state lawsuit arrives in four minutes Challenged on Monday by US senators to explain its failure to report that it had allowed hackers to grab records on 57 million customers and drivers and then paid hush money in an attempted year-long coverup, Uber has been presented with its second state-backed lawsuit for not alerting authorities to the pilfering. The first …
They are burning money but the losses are narrowing.
As far as I am aware a business with a high turnover has scope to tweak the parameters a small amount to move from loss to profit (and back). So uber seem to be on track at the moment.
Unless the fines are a significant percentage of turnover and/or there are penalties up to a total ban on trading in a city or state or country then any fines will just be part of the cost of doing business. $20m here and there is more or less pocket lint.
There seems to be no shortage of investors. If the strategy is to build a global business through flouting rules and breaking laws, then sanitise and go legal, claiming that they are good now and all that previous stuff was by bad people but we got rid of them - terribly sorry and all that - then they look to be on track.
A bit like more traditional criminal organisations, allegedly. Plenty of dirty deeds (again allegedly) done in the early days of mining and railroad building to establish wealthy families which are now uber (sorry) respectable.
What's this? News about Uber being shitty? I've not heard the likes of this since, erm, about two hours ago...
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