Uber's Russian Deal Can Be a Model for Its Future

One of the last deals negotiated by former Uber CEO Travis Kalanick and his business chief Emil Michael is described as a retreat, even a "Napoleonic moment." But it presents a workable blueprint for a better, less destructively aggressive, more operationally viable Uber. It would be good for the company if Kalanick's successor, whoever it may be, followed that blueprint.

Like in China last year, the ride hailing company decided to leave the Russian market to a local competitor. But its deal with Yandex, the Russian tech champion, is better for the San Francisco-based firm than the Chinese deal with Didi Chuxing. In China, it exited the market in exchange for a 20 percent economic stake in Didi. In Russia, Uber's global clients can continue using the company's app to access the service controlled by the new joint entity, in which Uber is to own 36.6 percent.