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The Uber IPO exposes how Saudi cash drives Silicon Valley innovation, and even the biggest tech companies can’t stop it
  • Uber's S-1 filing showed that Saudi Arabia's Public Investment Fund owns 5% of the company.
  • The Public Investment Fund is also a top investor in Softbank's gargantuan Vision Fund, which owns 16% of Uber — not to mention sizable stakes in companies like Slack, WeWork, and DoorDash. 
  • Saudi Arabia has been criticized for human rights abuses and repressive laws, so it's a problematic source of cash for Silicon Valley, which prides itself on changing the world.
  • But Silicon Valley is under attack like never before these days, and that's caused a cynical search for stability that seems to have made taking Saudi money a non-issue. 
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Full "The Business Insider: The Money Game" article




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