31–40 of 196 posts
Agreed. Fuck Benchmark. Travis makes each partner $1 billion personally and this is how they treat him? They should be blackballed by every great founder out there. I had respect for benchmark but not anymore. They are greedy assholes.
A question I've been pondering since the Martin Shkreli verdict, is fraud OK if the deceived parties still profit?
Agreed. Fuck Benchmark. Travis makes each partner $1 billion personally and this is how they treat him? They should be blackballed by every great founder out there. I had respect for benchmark but not anymore. They are greedy assholes.
> Travis makes each partner a $1 billion personally On paper.
Agreed. Fuck Benchmark. Travis makes each partner $1 billion personally and this is how they treat him? They should be blackballed by every great founder out there. I had respect for benchmark but not anymore. They are greedy assholes.
A question I've been pondering since the Martin Shkreli verdict, is fraud OK if the deceived parties still profit?
wonder what this means for the CEO search, softbank funding etc. My assumption is that both parties will settle quickly but I could be wrong. Also not noted in the article is that while travis owns 10% of the equity stake, he has super-voting shares, such that him, Ryan Graves, and Garret Camp as a trifecta hold controlling interest IIRC.
Travis has lost the support of Ryan and Garrett apparently (per several reports over the last month/Garrett's statement/Ryan stepping down from operating role). Seems like a man on an island at this point.
Agreed. Fuck Benchmark. Travis makes each partner $1 billion personally and this is how they treat him? They should be blackballed by every great founder out there. I had respect for benchmark but not anymore. They are greedy assholes.
Does money absolve a founder from potentially fraudulent behavior?
Among the complaints of bad behavior: "Kalanick [aquired] a self-driving startup that, according to a confidential report not disclosed to Benchmark (the "Stroz report") allegedly harbored trade secrets from a competitor . . . " The Stroz Report was created when "Otto and Uber jointly hired an outside forensic expert Stroz Friedman. Friedman interviewed employees, including Levandowski and Lior Ron, reviewed their di…
The way to read it is, there is a report, Benchmark (the board) was not aware of it. It's an acknowledgement of the report - as it is from the court case - but not about its content.
Who in their right mind, except for the utterly desperate, would accept money from Benchmark? Talk about letting the fox into the henhouse, you can't trust those guys whatsoever.
Stakes: Per the complaint, Kalanick currently holds around a 10% equity stake in Uber, which most recently was valued at around $70 billion. Benchmark holds approximately 13 percent. This is interesting. I thought HNers were saying Kalanick had the biggest stake, which is why the board couldn't fire him. How does this work? If someone only has 10% equity, why was it so difficult to remove them? This is a useful tool…
https://www.cnbc.com/2017/06/12/uber-chief-travis-kalanick-g...
Stakes: Per the complaint, Kalanick currently holds around a 10% equity stake in Uber, which most recently was valued at around $70 billion. Benchmark holds approximately 13 percent. This is interesting. I thought HNers were saying Kalanick had the biggest stake, which is why the board couldn't fire him. How does this work? If someone only has 10% equity, why was it so difficult to remove them? This is a useful tool…
Stakes: Per the complaint, Kalanick currently holds around a 10% equity stake in Uber, which most recently was valued at around $70 billion. Benchmark holds approximately 13 percent. This is interesting. I thought HNers were saying Kalanick had the biggest stake, which is why the board couldn't fire him. How does this work? If someone only has 10% equity, why was it so difficult to remove them? This is a useful tool…