But how Uber could benefit from answering this fishing expedition? If I were Uber I'd simply stonewall. They are under no legal compunction to answer, and virtually no answer would help them.
But how Uber could benefit from answering this fishing expedition? If I were Uber I'd simply stonewall. They are under no legal compunction to answer, and virtually no answer would help them.
Here's a nice white paper on Congress's subpoena power: http://www.mayerbrown.com/files/Publication/ec1203b2-a787-44...
"The Enforcement Process. Congressional investigations often begin informally, with the interested committee or subcommittee first seeking information on a voluntary basis (i.e., by sending a letter request or asking for an informal interview), rather than by issuing compulsory subpoenas. Although there is no legal obligation that a party comply with such a request, it is typically in the responding party’s best interest to do so"
The federal government can make your life extremely difficult, fully funded startup or not.
Profitability has a lot to do with how you spend your money. "Startup" is commonly used to connote a small, new business. The dictionary says it is a "fledgling" business.
If Uber's revenue were the GDP of a nation, it would have 40 countries ranked below it. That's not a "fledgling" business, even if it isn't profitable.
It's an opportunity to establish publicly that your company won't be engaging in any of the kind of shenanigans that can cost you customers in a competitive industry.