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Uber rang in its IPO with champagne and mimosas. Then the hangover began.

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chawes
756 Rider Guru
 Posted 2 years, 8 months ago

You just can't teach an old dog new tricks, can you.

SAN FRANCISCO — Uber shut down a party at a satellite California office and at least one employee resigned after some celebrations marking its initial public offering last week got out of hand, according to current and former employees, a setback for the company’s efforts to change its corporate culture.

 Those people said that the celebrations, which kicked off with company-provided mimosas on the day of one of the largest public offerings in recent history, made them feel uncomfortable and seemed immature — especially as Uber’s stock price plunged, erasing billions of dollars of value. It also reminded some of a more toxic company culture Uber has been striving to erase, causing something of a hangover.

 “Old Uber hid themselves until today apparently,” said one employee, who spoke on the condition of anonymity because that person was not authorized to speak publicly.

https://www.washingtonpost.com/technology/2019/05/17/uber-rang-its-ipo-with-champagne-mimosas-then-hangover-began/?utm_term=.5fcaf5282268

Comments

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    lionfool
    236 Rider Driver
     2 years ago

    They changed the executive staff, but the rest of the company is the same old people as pre-Dara days. So I don't really know why anyone would expect the culture to have changed. People form a culture, not a handful of executives.

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      chawes
      OP 756 Rider Guru
       2 years ago

      I remember reading a quote from an MIT researcher who studied systems. I'll see if I can find it but basically he said that companies are just big systems, which are defined by their processes and culture, not by leadership. Leaders within companies like to think they can change things, but really they're just role players within the system, and that the system essentially runs on its own. Changing a company culture is incredibly difficult. I'm not surprised to hear that the fraternity culture never left Uber.

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    brownbear
    599 Rider
     2 years ago

    LOL this article is the gift that keeps on giving.

    Employees said champagne geysers erupted, and bottles of liquor from Kalanick’s time at Uber were broken out. The branding on the bottles of tequila and whiskey, which employees had kept in their desks or brought from home, featured an old version of Uber’s logo that has since been phased out. At one point, Uber was forced to prevent an employee from driving home...

    Gee, someone should start a business where you can just push a button on your phone, and someone comes and picks you up... It would be perfect for times like this!

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    chicago49
    253 Driver
     2 years ago

    Ok so time for a(nother) new CEO? Maybe this time it will work...