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Uber Founder Travis Kalanick Resigns as C.E.O.

nytimes.com

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Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#381

Post by ajdlinux »

cthulha wrote: post #286
amrrs wrote: post #206

Earlier quoted context omitted.

> I don't think Kalanick had much to do with it. He created the product, but it pretty much sold by itself -- similar to how Zuckerberg created Facebook, which sold by itself. Nope, This is wrong. Kalanick stood in front in the fight against the City officials and Taxi unions across the globe. Uber could've been done and dusted had it been left as a product to be sold by itself. Kalanick pushed Uber up high against t…

That might be a big deal in America, but it has not been part of Uber's appeal in Australia. Uber here is absolutely focused on the product experience. If anything, there's a proportion of people who supported local government rules and existing taxi services over the American interloper, a counter-balance to the anti-union and anti-municipal crowd. Please be mindful that the American experience does not translate gl…

As an Australian - I thought Uber's main appeal here was price. The taxi product experience, from everything I've heard, is far worse in the US than here.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#382

Post by nikcub »

flyosity wrote: post #5

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…

If you're in the USA and keeping tabs of the controversies I think it is easy to overestimate Lyft and underestimate Uber.

Uber is in 100 more US cities than Lyft and 81 countries where Lyft isn't. I find that in large parts outside of the USA "Uber" is synonymous with ride sharing.

Uber bookings revenue is doubling each year[0], net revenue growth is outpacing growth in losses[1] and they claim to be profitable on a per-city basis in early markets[2]

Direct comparisons: Countries 82 (Uber) vs 1, Bookings: $20,000M (Uber) vs $1,400M, Growth: 100% (Uber) vs 250% (Lyft), Net revenue: $6,500M (Uber) vs 700M, Losses: $2,800M (Uber) vs $800M (Uber has much better margins and margin growth), Valuation: $70,000M (Uber) vs $6,000M, Revenue/Valuation: Uber 3.5x Lyft 4.28x

Not an insurmountable task, but Lyft have a long way to go and no track record or operations outside of the USA.

[0] http://fortune.com/2015/08/21/uber-bookings-double/

[1] https://www.bloomberg.com/news/articles/2017-04-14/embattled...

[2] https://www.businessinsider.com.au/uber-profitable-in-hundre...

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#383

Post by matt4077 »

forgottenacc57 wrote: post #87

Finally John Scully will steer the ship in the right direction. Wait, what?

Kalanick is no Steve Jobs.

Steve Jobs was an asshole at times, but that behaviour was always about driving people hard to create what he considered a perfect product.

Kalanick's brohaviour has nothing to do with economic success. You absolutely do not need to harass people sexually to be successful.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#384

Post by aembleton »

jmspring wrote: post #120
rmason wrote: post #12

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…

Travis himself has exhibited poor public behavior that was recorded by an Uber driver. That in itself reflects upon the company. Yes his assertiveness and drive got them where they are, but sometimes companies do need to grow up. Jobs was a consistent asshole expecting perfection. That is way different than emboldening a climate of harassment, degradation, etc. that took place under his watch. Having recent external…

Does Lyft operate outside the US?

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#385

Post by Applejinx »

cocktailpeanuts wrote: post #221
ckastner wrote: post #184

Earlier quoted context omitted.

> Kalanick is a jerk, but he created that insane valuation. I don't think Kalanick had much to do with it. He created the product, but it pretty much sold by itself -- similar to how Zuckerberg created Facebook, which sold by itself. I'm very optimistic about this change. To me, Kalanick, and the culture he bread, were toxic to Uber. I'm reminded of how Microsoft's share price jumped by 12% the day Steve Ballmer's re…

> it pretty much sold by itself -- similar to how Zuckerberg created Facebook, which sold by itself. Haha don't know where to start. Facebook could have gone to shit in so many ways just like all the predecessors like Myspace and Friendster, but they made all the right decisions and won. Same goes for Uber.

No no, you've got it a little bit backwards. Right now, the biggest profits for capital are in being bearish about Uber and shorting Uber. This is in the nature of amoral capitalist investment: all the right decisions are 'supporting and enabling Uber' right up to the point where the bubble of valuation pops and then the only right decisions are 'bailing and running away from Uber'.

Kalanick's right decisions are now based on how much he was lying when he said he hadn't divested the slightest bit from Uber. I'm guessing that everyone read his character well, and that he was in fact lying on a massive scale and has many lifetimes worth of stashed-away wealth. Right now, winning for him means avoiding prosecution and jail (probably easy to do) and Uber is over, already.

So Uber lost, and anyone still clinging to Uber has lost (but there will be amazingly few of those). It's the frog and scorpion fable, really. Travis isn't the scorpion, and Uber isn't the frog. Uber is the scorpion and Wall Street is the frog.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#386

Post by majewsky »

adamnemecek wrote: post #357
naskwo wrote: post #352

A few weeks ago, I posted on HN about my experience in Hamburg (no Uber in Germany. The local taxi authority has its own app which works equally well, if not better). Last weekend, I was in Budapest. There is no Uber in Hungary (anymore), but the main taxi company (Fötaxi) has its own app which works brilliantly. I honestly see no "moat" around Uber in markets where (large) taxi dispatchers have the insight to build…

Ubers other differentiator is the fact that I can go to just about any city in the world and use it. I guess I could research and install fotaxi but as a 21th century consumer, I'm extremely lazy.

That's why these local taxi companies usually have billboards at train stations and airports that inform travellers of their app.

EDIT: Alternatively, convince the taxi companies to open up their API. Then you can have one app that selects the correct API based on your current location.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#387

Post by sundvor »

kevinburke wrote: post #3

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.

A business culture flows from the top. Reading Susan J Fowler's account told me the whole company must be toxic, for such abhorrent behaviour to be condoned of.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#388

Post by matt4077 »

vecter wrote: post #57
khazhoux wrote: post #32

As the adage goes, sometimes the startup CEO for the first $70 billion, is not the same as for the next $70 billion.

Or as they say, "what got you here won't get you there"

Kalanick's brohaviour has nothing to do with economic success. You absolutely do not need to harass people sexually to be successful.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#389

Post by nathan_f77 »

Animats wrote: post #41

This may kill Uber. Kalanick is a jerk, but he created that insane valuation. Uber has less than a year of runway left at their current burn rate. Unless they can find a bigger sucker than the sovereign wealth fund of Saudi Arabia,[1] they're going broke in 2018. (That "undisclosed amount" in 2017 isn't a significant investment on Uber's scale.) IPO? No way. They'd have to publish audited numbers. What's leaked out i…

This is probably great news for Tesla, or other auto makers and technology companies who would love to acquire the Uber brand and software.

Re: Uber Founder Travis Kalanick Resigns as C.E.O.

#390

Post by matt4077 »

throwaway5752 wrote: post #148

I have no idea why everyone is going on about Fowler/harassment scandals. He should have been fired by the board for the results of the Otto acquisition and the handling of Waymo lawsuit, and that was probably a much larger factor.

Let's just agree that there are very many, very good reasons not to support Kalanick in any way.
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