MarketWatch First Take: Uber report only addresses symptoms of a rampant Silicon Valley disease

The report issued Tuesday by a special committee hired by Uber Technologies Inc. to look at the ride-hailing company’s sexist, frat-boy culture only deals with the symptoms of a much bigger problem in Silicon Valley: The downside of absolute founder control.

After the report was issued, Uber Chief Executive and co-founder Travis Kalanick said he is taking a leave of absence, “to work on Travis 2.0 to become the leader that this company needs.” The report recommends that Kalanick be stripped of some of his duties when he returns, but as the controlling investor, with super-voting shares in the company, he still calls all the shots and will still be CEO even if he only comes back as Travis 1.5.

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