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Megan McArdle

What the Saudi Stake in Uber Means for the Unicorn Bubble

Short answer: not much. That $3.5 billion isn't the beginning of a big trend.
Don't fear the Uber.

Don't fear the Uber.

Photographer: Krisztian Bocsi/Bloomberg

Uber has accepted a giant investment from Saudi Arabia’s sovereign wealth fund. This $3.5 billion dwarfs most private equity investments, and brings Uber’s fundraising total to $11 billion. The fund will be taking a board seat alongside other digital and finance luminaries.

What does it all mean? Columnists will be chewing on that question for days to come. But let’s look at a few of the questions this instantly raises.