Uber, quit shoveling money into the fire for one second and explain that hack – US senators

Am I the only one here who suspects that Uber is just a gigantic moeny-laundering operation?

Last week I asked whether Softbank had been told about this before making their recent big investment. If they hadn't been, then Uber would have some very big questions to answer.

Now I see a sentence in this article that answers the question:

...and why the data loss was disclosed to potential investors but not customers and drivers.

So that's good, in that it implies that Uber did tell Softbank. But it leads to a further problem:

If Softbank knew about the existence of a massive undisclosed hack at Uber, then what on earth made them think that it was a good moment to be investing $10b into them? At the very least, basic due diligence would cause you to wait until it's been disclosed.

If Uber told their backers about the hack

Do the backers have any legal obligation to notify the authorities ?

Wow!

It also led to the ousting of Uber's security chief Joe Sullivan and Craig Clark, legal director of security and law enforcement.

Uber had a "security chief" and a "legal director of security and law enforcement"?

Who knew?

Investing in Uber

spudley said "If Softbank knew about the existence of a massive undisclosed hack at Uber, then what on earth made them think that it was a good moment to be investing $10b into them? At the very least, basic due diligence would cause you to wait until it's been disclosed."

Maybe the Uber people just told them a bug had been found and they had paid a bug bounty and fixed it. As any viewer of "Yes, Minister" will have realised there are ways of telling people unpalatable things and putting a gloss on disasters that make them seem quite innocuous.