03.06.2016 - Saudi Arabia invested $3.5 billion in Uber. That could be bad news for the global economy
Uber has raised an astonishing $3.5 billion from Saudi Arabia's sovereign wealth fund. It's one of the biggest venture capital investments in history and brings Uber's overall fundraising haul to $11 billion. But while Uber is bragging about the investment, it could reveal a troubling trend in investment trends overall. In the long run, economic growth depends on our ability to convert cash into productive assets like factories, trucks, machinery, or computer software. But for the most part, recent "investments" in Uber aren't like that. Uber is planning to use its billions to fund brutal, zero-sum price wars with competitors around the world...............................................Full Article: Source
Print