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Earlier quoted context omitted.
> epic destruction of value Better than abiding by an epic destruction of values.
Don't kid yourself for a second that investors are kicking Travis out because of a moral imperative.
Hope 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…
I don't (yet) have an opinion on this, but it's important to note the other side of the coin... > Hope 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. He's been very well compensated for the value he's created. You don't keep a job because of what you've done in the past, you keep a job based on…
If Travis had been smart enough to create two classes of stock like Mark Zuckerberg and the Google founders he'd be calling the shots, instead he's out of a job.
Being a good guy as requirement for being CEO is a 21st century thing.
It 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?
> to one who's cash cow is closely managed by the monied interests Not sure I'd use 'cash cow' to describe something that bleeds cash to the tune of billions of dollars a year.
Some deep cuts wil likely occur to make the company "more efficient" and "focused on core competency" etc...
Founder 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…
Just a few years ago, Uber was the place to be, the startup to imitate. How many Uber for X pitches did we see? The entire story makes me sad (not the resignation, that was kind of expected) - Uber was an icon of "disruption" and of challenging the status quo. Now, it's just a sad story and people prefer to not be associated with it.
According 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.
You don't have to assume truth, just believe they mean their account, you assume good faith. Believe them and allow that belief to start the process of uncovering what the truth is.
There's a reason Listen & Believe is a thing and it's not because anyone is saying "you should have unquestioned faith in what someone says".
Susan Fowler is the giant killer of this century. Salutation!
If Uber ends up going down in flames, unable to recover from the scandals and lawsuits, and Lyft prevails, it will be the most incredible change of fate in the business world this century or perhaps longer. The future of automobiles and transportation is still being swirled about, and it feels like Uber's downfall has blown the game WIDE open, ready for anyone (maybe Uber, maybe Lyft, maybe Tesla, Google, Apple, an a…