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Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

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Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#21

Post by icantdrive55 »

outside1234 wrote: post #5

Smart dude - bailing the sinking ship

I don't like his company, nor him, but he knows about money.

I know is sacreligous to call out a bubble, but this current economy just feels like one.

And yes--I know about the glorious unemployment rate. I also know about the other rate ("able bodied, but aren't working"). Plus--no inflation. Plus--no increase of wages. Plus--a bunch of companies I can't figure out what they actually do.

I wouldn't be suprised if he cashed out of everything.

While poor guys/idiots, like myself, are thinking about putting money back in the market.

I'm not going to put my last few thousand in, but I'm envious of the gains. Whenever I feel like this, the market tanks.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#22

Post by jerrycruncher »

outside1234 wrote: post #5

Smart dude - bailing the sinking ship

To be fair, he's the one who stuffed the ships with morality-free sailors, booze, drugs and prostitutes and then acted surprised when his investors questioned his ability to captain.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#23

Post by outericky »

oculusthrift wrote: post #10
creator_lol wrote: post #3

or he is planning to get off the sinking ship

most likely just wants some cash to do other things with since he’s no longer ceo of uber

Some cash? It’s 1.4B. Future generations will have some of that cash.

I think he realizes he’s not going back and what’s the difference between 1.4 or 3B really? Especially given he’ll still have 71% retained.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#26

Post by paunchy »

tyingq wrote: post #20
paunchy wrote: post #8

Although unsurprising, this can't be a good indicator for the outlook of the company.

Hard to determine if he lost confidence in "his vision" vs "current + future vision". In his place, having lost direct control, I'd be tempted to cash out early solely because my influence was so diminished. Not because I was 100% sure the new direction wasn't right. So I can't tell if this is an admission that Uber is over valued, or just a risk management decision around losing more direct control.

True. But by cashing out the maximum possible amount, this is far more than a hedge. In your scenario, I would cash out some but would have confidence in the strength of the business that I created... unless I didn't.

In reality, I'm at a loss as to why anyone would join Uber right now. They cannot be still attracting the best talent, especially in the autonomous vehicle space. And I've seen no evidence that the current ride sharing business is defensible, particularly once you account for the equity infusions that subsidize that business.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#27

Post by cocktailpeanuts »

tw1010 wrote: post #25

What an incredible twist. I bet most people would have pinned him as the next Jobs or Gates only a few years ago.

> I bet most people would have pinned him as the next Jobs

And they would have been absolutely correct. Exactly what happened to Steve Jobs.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#28

Post by [deleted] »

cocktailpeanuts wrote: post #27
tw1010 wrote: post #25

What an incredible twist. I bet most people would have pinned him as the next Jobs or Gates only a few years ago.

> I bet most people would have pinned him as the next Jobs And they would have been absolutely correct. Exactly what happened to Steve Jobs.

[deleted]

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#29

Post by adjkant »

cocktailpeanuts wrote: post #27
tw1010 wrote: post #25

What an incredible twist. I bet most people would have pinned him as the next Jobs or Gates only a few years ago.

> I bet most people would have pinned him as the next Jobs And they would have been absolutely correct. Exactly what happened to Steve Jobs.

Far too early to say "correct". Starting a company that burns cash faster than anyone and cashing out is not at the same level of Steve Jobs.
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