Feb 10, 2017

Uber reportedly sees double standard in Trump outrage

Núcleo Editorial / Flickr cc

Bloomberg's Eric Newcomer reports that "senior management and investors" at Uber are frustrated by the fact that they faced backlash over an affiliation with Donald Trump, while Elon Musk hasn't.

Hold up: Uber is forcefully pushing back on the report, calling it "not representative of how we feel." "No one working at Uber would want another company to experience what we have over the past few weeks," spokeswoman Jill Hazelbaker told Bloomberg.

It's complicated: Musk, the CEO of both Tesla and SpaceX, has indeed faced some criticism for his presence on two administration advisory councils. Some customers have said they are cancelling their orders for Teslas over that connection. But it's nowhere near the experience of Uber chief Travis Kalanick, who ended up quitting the council after users started deleting their Uber apps en masse. The vocal reaction may be due, in part, to the large reach of Uber's service with the urban set, who tend to skew younger and more left-of-center politically.

For his part, Musk has repeatedly defended his engagement with the administration, saying activists should be urging more moderate voices around the table with Trump.

The bigger picture: The backlash felt by tech companies working with Trump reached a new level after the administration's ban on travel from seven majority-Muslim countries. And there's little sign that it will let up anytime soon.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.