Key questions this article answers:
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There are many issues facing startups, and they must prioritise what to tackle. Should corporate governance be among these issues?
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How do startups' unique characteristics make it difficult to adhere to sound corporate governance practices, and what can be done?
I recently started watching ‘Super Pumped’—the story of the founding and growth of Uber. The Tv series shows how Travis Kalanick, Uber’s co-founder and CEO, mobilised a team of people to disrupt the consumer mobility industry.
It also shows the practices he employed to achieve this and how he ran Uber. I am mid-way through the show, but I can tell you how it ends. Uber got mired in scandals, had to make several million-dollar settlements to aggrieved parties, was sued by an investor, and the Board eventually asked Travis Kalanick to step down.
Uber’s case is a cautionary tale that stresses the importance
