Matt Levine, Columnist

Uber Hacks and Bitcoin Futures

Also universal index funds and Long Island municipal bonds.

November 22, 2017 at 2:44 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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Oh, Uber.

If you are a big consumer-facing company and you store data on an external server, and someone breaks into that server and accesses personal information about millions of your customers, then that is usually called "hacking," and it is a big deal, and "a patchwork of state and federal laws require companies to alert people and government agencies when sensitive data breaches occur." On the other hand, if one of your employees logs into that server and accesses that information, that is just something that happens every day in the ordinary course of business and is not a problem at all.