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Digital Subscriptions > Newsweek International > 8th July 2016 > LET MY PEOPLE IPO!

LET MY PEOPLE IPO!

Silicon Valley unicorns are cheating the rest of us by staying private

DISRUPTIVE

@kmaney

UBER CEO Travis Kalanick is famous for saying things that make him sound like tech’s Dr. Evil, but now he’s spouting his most damaging rhetoric yet: He vows that Uber won’t go public for another decade. He adds that he’ll finally do an initial public offering (IPO) “one day before my employees and significant others come to my office with pitchforks and torches.”

Well, maybe it’s time for that witch hunt. Data show that if Kalanick keeps Uber private for the next 10 years, his company will likely flatline, and concern regarding his truculence is now about more than just Uber. It’s about all of us, and it’s about the world’s growing and volatile income gap. Kalanick is looking straight at America’s middle class—the kind of people who might want to buy his stock as a way to build some wealth—and telling us to fuck off.

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THE GREAT UNRAVELLING How the politics of paranoia is reshaping the world.