Wow, makes me want to skim over the original Susan Fowler thread to see if anyone predicted this happening [0]. Her allegations of course weren't the only problem Uber faced but it sure seemed to cause other previously overlooked issues and complaints to gain real resonance.
Uber Founder Travis Kalanick Resigns as C.E.O.
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Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#12Hope everyone's paying attention to the identity of these investors behind this horrid behavior. Travis is not without his flaws but he created an awful lot of value for them.
They pressure him into taking a sabbatical, then two days in they pull this cowardly act of firing him remotely. Not only was it a cowardly act, but it was the wrong thing to do for the business. It will lead to an epic destruction of value.
Worst business move since Apple's board (with John Sculley's behind the scenes string pulling) fired Steve Jobs. How well did that work out for Apple's shareholders at the time?
Travis Kalanick needed to change but do you really think that running Uber by committee is going to work? Guess it's time to try Lyft.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#13Not unsurprising, as Uber really is trying to grow up, and Travis Kalanik has been the silicon valley poster boy for a bit too long. I still think he did a phenomenal job, not only launching a successful startup, but creating an international cultural movement.
I wonder who will take his place, and, more importantly, I wonder if Uber will continue winning.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#14According to the article 5 different VC firms representing 40% of the voting shares asked him to resign today. Kalanick still controls the majority of voting shares and a board seat. Most of Kalanick's trouble started with Susan Fowler speaking out. Please believe women when they report harassment in the workplace. Many of their reports may not be as clear cut as Mrs. Fowler's.
Please investigate, not necessarily believe. Innocent til proven guilty still has some place in this world..
That being said, kudos to anyone courageous enough to speak the truth even at the risk of vilification.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#15Did Susan Fowler's article start this fire? If so, it's an incredible and inspiring story every victim of harrassment should follow. Thanks Susan.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#16Wow, I thought he was just going to step away and take a break. Do we know who might replace him? It's also interesting that the five shareholders mentioned in the NYTimes article want 2 "truly independent directors". What does that mean? Depending on how many board seats there are, maybe two votes aren't enough?
I bet it will be a woman. Merrisa Mayer? lol
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#17Hope everyone's paying attention to the identity of these investors behind this horrid behavior. Travis is not without his flaws but he created an awful lot of value for them. They pressure him into taking a sabbatical, then two days in they pull this cowardly act of firing him remotely. Not only was it a cowardly act, but it was the wrong thing to do for the business. It will lead to an epic destruction of value. Wo…
> Travis is not without his flaws but he created an awful lot of value for them.
It's business. Travis ought to understand that.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#18It will be interesting to see Uber's HQ corporate culture shift from the wild-westworld crazy co to one who's cash cow is closely managed by the monied interests who will surely own the company from this point forward to ensure all future scandals are either quashed or kept under wraps...
With that said, who should lead Uber?
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#19Would Marissa Mayer be a good fit for Uber CEO? Given that she just resigned from Yahoo, one would think the board would at least consider her. Unless they're going to choose the next CEO from within the company.
Re: Uber Founder Travis Kalanick Resigns as C.E.O.
#20Founder CEO's do not resign, they are fired.
The article skips over the board entirely, but Travis must have been blindsided by his co-founder Garret Camp and early CEO Ryan Graves for this to have transpired. The board likely threatened to fire him unless he resigned, because there's no way Travis walks away because of this investor letter. It's more than likely the letter just provided the air cover his old friends needed to send him packing.
edit: For those replying that Travis has control of the board, please cite your sources. Being the majority shareholder using dual-class stock is a much different thing. Shareholders elect board members, but you can't remove investors' board seats, that language is boilerplate in financing documents.
Uber does not need the backing of the investors from the letter to remain solvent. With the exception of Fidelity, these aren't big players. Hundreds would take their place immediately given the chance.