The Uber IPO exposes how Saudi cash drives Silicon Valley innovation, and even the biggest tech companies can’t stop it

📆 2019/04/13 17:01:00
📰 BusinessInsider

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Saudi Arabia has been criticized for repressive laws, so it's a problematic source of cash in Silicon Valley, which prides itself on changing the world.

Uber's S-1 filing showed that Saudi Arabia's Public Investment Fund owns 5% of the company.

Saudi Arabia has been criticized for human rights abuses and repressive laws, so it's a problematic source of cash for Silicon Valley, which prides itself on changing the world. Silicon Valley's relationship with an undemocratic regime that has a troubling human rights record is in the spotlight. The adversary in this cross-border drama is China, which has raised alarm bells in the US as it bulks up its homegrown tech industry and arouses suspicion of spying and influence.

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