Silicon Valley has too much patience with the idea of founders as business visionaries – they need to be properly accountable
Travis Kalanick has resigned as chief executive of Uber – too late and without an admission of personal responsibility for the many scandals that have engulfed the ride-hailing firm he helped to found. If Uber was a normal public company, subject to even a gentle governance regime, he would have been fired years ago.
As it is, Kalanick’s resignation counts as a minor triumph for the venture capitalists who own about 40% of privately-controlled Uber. Benchmark, the biggest investor, led the revolt and it’s not difficult to guess why its patience finally snapped.