FT News Briefing McKinsey’s China problem
Feb 29, 2024
Uber's CEO has hit a performance target, reaping a massive $136 million in stock options. Meanwhile, the Adani Group is boosting India's military with new partnerships, particularly in drone technology. The podcast also delves into McKinsey's troubling ties to the Chinese government, revealing how their advisory role has sparked controversy and intensified U.S.-China tensions. Additionally, discussions around national security and the complexities of consulting in geopolitically sensitive regions unfold.
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Uber CEO's Big Payday
- Uber CEO Dara Khosrowshahi received $136 million in stock options after the company hit a $120 billion valuation.
- This followed Uber's struggles with losses after its IPO, but its share price jumped 150% in the past year.
Adani and India's Defense
- India's first military surveillance drone was produced by Adani, a private conglomerate, in partnership with Israeli firm Elbit.
- This reflects Prime Minister Modi's call for private sector involvement in building India's defense industry.
India's Arms Dependence
- India has historically relied heavily on arms imports, first from the Soviet Union, and now from Russia.
- The Modi government is now encouraging private sector companies to partner with foreign firms to bolster domestic defense production.