IMO, this was a clever PR move on Benchmark's part.
Benchmark needs to limit any reputational damage that results from the ensuing battle. In order to do that, they need to justify their actions to the public.
Engaging with journalists directly is suboptimal because it lets the journalist control the narrative which will naturally paint them in a defensive light. Addressing the public via a "letter to employees" allows them to fully control the narrative, defend their actions while not seeming defensive, and paint the picture that they are looking out for the greater good.
Of course, we all know that Benchmark is self-interested. Their goals are:
- Liquidate their investment ASAP via a private transaction (e.g. Softbank) or IPO
- Protect the value of their investment until liquidation event occurs
- Limit any reputational damage to their firm
Everything they do can probably be explained by at least one of these objectives. And, it should be obvious that they don't genuinely care about Uber's employees -- only to the extent that it preserves the value of their investment (i.e. preventing substantial attrition).
Benchmark needs to limit any reputational damage that results from the ensuing battle. In order to do that, they need to justify their actions to the public.
Engaging with journalists directly is suboptimal because it lets the journalist control the narrative which will naturally paint them in a defensive light. Addressing the public via a "letter to employees" allows them to fully control the narrative, defend their actions while not seeming defensive, and paint the picture that they are looking out for the greater good.
Of course, we all know that Benchmark is self-interested. Their goals are:
- Liquidate their investment ASAP via a private transaction (e.g. Softbank) or IPO
- Protect the value of their investment until liquidation event occurs
- Limit any reputational damage to their firm
Everything they do can probably be explained by at least one of these objectives. And, it should be obvious that they don't genuinely care about Uber's employees -- only to the extent that it preserves the value of their investment (i.e. preventing substantial attrition).