Uber backers facing head-on collision with greed
Existing owners who sell can make many times their money but the promise of more will cloud thinking
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UBER'S early backers are on a collision course with their own greed. Japan's SoftBank and allied investors want to buy roughly one-sixth of the bumptious ride-hailing firm.
Existing owners can sell at a US$48 billion valuation, or about 30 per cent below the last one. Even with a markdown, they could make many times their money. The promise of more, however risky, will cloud the thinking.
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