3 ms·
> And now they get the largest investment yet from a party that is NOT interested in falling oil prices... Uber's impact will be the same whether they invest
by hnhire_me 10y ago
> And now they get the largest investment yet from a party that is NOT interested in falling oil prices...
Uber's impact will be the same whether they invest or not.
Saudia Arabia needs to diversify its holdings and sovereign funding sources as oil is a very narrow and volatile vertical upon which they currently hang their hat (and almost all of their funding).
Saudia Arabia is like an investment portfolio where 90% of its income comes from a single stock. They need to diversify and hedge.