Professor Spangler Quoted in L.A. Times on Saudi Wealth Fund’s Investment in Uber

June 2, 2016 – Professor Timothy Spangler, director of research for the Lowell Milken Institute for Business Law and Policy, was quoted in the Los Angeles Times on a $3.5 billion investment made by Saudi Arabia’s Public Investment Fund in rideshare company, Uber.  

The investment by a sovereign wealth fund may pose a problem for venture capital firms, which view themselves as gatekeepers to the next generation of valuable companies. 

“With Uber getting big enough, it now makes enough sense for them to disintermediate the VC firms and go straight to Saudi Arabia or other institutional investors,” said Professor Spangler.  “VC firms are the middleman,” Spangler added.

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