Professor of Practice at Warwick Business School, John Colley comments on the cover up by Uber of a huge data breach that affected 57 million customers and drivers during which the company paid hackers $100,000 (£75,000) to delete the data.
‘Dara Khosrowshahi is attempting to ‘clear the decks’ with this admission which unusually went beyond the normal call in admitting a $100K payment to the blackmailers. Business very rarely admits to such payments. This belated announcement will undoubtedly perturb regulators at a sensitive time for Uber when they are attempting to appease regulators in London and several other cities. Uber has been riven by bad values which are reflected in a number of legal actions including alleged theft of Waymo’s autonomous car software secrets, failure to ensure driver checks, and employee rights. Khosrowshahi has promised shareholders a 2019 IPO but he has an enormous amount of work to do before that will be possible’.