Uber’s diversity goals not a major concern for Wall Street, Bradley Tusk says
The man who helped bring Uber to New York City applauds the company’s decision to implement diversity goals, but he said the issue isn’t a big concern for investors.
Bradley Tusk, the CEO of Tusk Holdings, told FOX Business’ Stuart Varney that Wall Street is looking at other metrics.
“Uber had all kinds of cultural workplace problems…But, I don’t think what investors are penalizing Uber for is a lack of diversity among the leadership," he said on Tuesday. "They’re penalizing them because they don’t see the vision, they don’t see innovation. They see Uber losing a billion dollars a quarter."
Earlier this week, Uber announced new diversity and inclusion goals for 2022 that will be tied to the compensation of several of its senior executives, including CEO Dara Khosrowshahi.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 69.36 | -1.44 | -2.03% |
Tusk, who was an early Uber investor, said he still sees a path for the ridesharing company to eventually become profitable.
“If they can become the way to get anything and everyone from point A to point B; whether it’s a car, a scooter, a drone delivery or a flying car or whatever else, then it’s a really good bet, because the world is going to change dramatically over the next ten to twenty years,” he said on "Varney & Co."
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Uber lost more than $1 billion in the three months of 2019 and the company's chief technology officer said it will likely be years before Uber makes a profit.