Matt Levine, Columnist

Uber Activism and Communist Boards

Also when bank regulators quit, what Libor means, what Apollo would do and crowdfunding.

August 14, 2017 at 1:50 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Uber!

It is fun to imagine what life would be like for Uber Technologies Inc. if it was already a public company. Take Benchmark Capital Partners VII, L.P.'s fraud lawsuit against Travis Kalanick, Uber's former chief executive officer, which we discussed on Friday. Kalanick persuaded Uber's board and other shareholders to amend its governing documents to give him more power, including the personal right to appoint three directors; Benchmark claimed that he did this without telling them all the relevant facts about bad stuff Uber was getting up to.