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Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
141–150 of 205 posts
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#142From TFA: > The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup. To be fair, if I had 75% of my net worth in a single asset, I'd also try to diversify. My wife and I both have lots of stock in the companies we work for, due to RSUs and employee stock purchase programs…
Ironically Uber is over $30 for the first time in awhile...hasn't been over $30 since even before lockup expiration.
There were fears that the huge number of shares would depress the price even further. Seems like that hasn't happened.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#143Earlier quoted context omitted.
There are realms of wealth. Even 100m is not enough to comfortably afford a private jet. Several ultra wealthy like Bill Gates diversified a billion dollars from their company which seems to be about the limit where more money mostly becomes an abstraction. One example is people who actually own mansions generally live in a relatively small space inside. You can only really use one room at a time and walking around t…
That's not completely true. Ignoring the tax and operational hedges I can employ if I legitimately use my plane for business purposes, if I fly more than 200 hours a year it's not that (relatively) expensive to own a personal jet. Admittedly, I'm not talking about a Gulfstream G5 or Lear 75, but something like a Citation III or Lear 31/35 cost US$500K-US$1m to acquire (refurbished) and cost less than $10/mi to fly (s…
To be clear I am speaking of someone living off of 100m in assets. You can have negative net worth, be pulling in 35m/year and reasonably splurge on a 1m/year expense.
But, if you’re living off of say 5m/year from your assets a 1m/year splurge is a huge chunk of your income. At that level renting one would be far more appealing to most people. Though sure if owning a jet was a major hobby vs a means of transportation it’s easily possibly, just as I said a major expense.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#144Earlier quoted context omitted.
Depends how the company is doing. Depending on the internal transparency of the company, as an employee you're often privy to a lot of information that Wall Street does not have access to, eg. you'll oftentimes know their upcoming product pipeline, employee morale, culture, and key metrics for the success of the business that are not published in their financials. If those are doing well but Wall Street is treating t…
As an employee at a megacorp, sure, you can see a little bit about how things are going from the inside. That said, you probably spend less time looking at reports than professional analysts. Secondly, sure, maybe you can see how great your company is, but do you have a frame of reference to a million other companies and their projects and cultures? There's a strong bias towards thinking you know more than the market…
That depends a lot on your past background. A number of the employees at these megacorps have either worked in finance before, or at one of the big consulting firms, or they've done the Valley dance between the hot growth companies of the moment. So they do have that reference point between many different companies. There's sort of a revolving door among many of the elite institutions that run the world - Ivy League universities, large dominant corporations, big-name consulting, finance, and government.
If this doesn't apply to you, and a megacorp was your first job out of college that you stuck with for your whole career, you may want to be a bit more cautious with your capital.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#145A bit meta, but I wonder how this became a story. Is someone constantly analyzing data for this kind of thing? How did it get surfaced? And, in general, what kinds of news services trigger off of polling public data?
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#146From TFA: > The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup. To be fair, if I had 75% of my net worth in a single asset, I'd also try to diversify. My wife and I both have lots of stock in the companies we work for, due to RSUs and employee stock purchase programs…
>> To be fair, if I had 75% of my net worth in a single asset,
to be more fair, balanced portfolio theory generally doesn't account for creating 2+ billion dollars out of thin air which you then need to diversify. I think it's appropriate to include the singalling impact that his massive position changes have on over-all value.
So yes, he's making the locally maximizing correct decisions because let's face it, that's what the individual cares about; You could argue that the overall maximizing decision is for the founders to keep huge volumes of equity and bare the exposure that comes with this because, hey - they really believe they are changing the world for the better!
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#147From TFA: > The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup. To be fair, if I had 75% of my net worth in a single asset, I'd also try to diversify. My wife and I both have lots of stock in the companies we work for, due to RSUs and employee stock purchase programs…
Just as a sidenote, here in Denmark, our Version of the 401k, its illegal to have more than 20% in a single stock, for your own safety.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#148Earlier quoted context omitted.
That's not completely true. Ignoring the tax and operational hedges I can employ if I legitimately use my plane for business purposes, if I fly more than 200 hours a year it's not that (relatively) expensive to own a personal jet. Admittedly, I'm not talking about a Gulfstream G5 or Lear 75, but something like a Citation III or Lear 31/35 cost US$500K-US$1m to acquire (refurbished) and cost less than $10/mi to fly (s…
To be clear I am speaking of someone living off of 100m in assets. You can have negative net worth, be pulling in 35m/year and reasonably splurge on a 1m/year expense. But, if you’re living off of say 5m/year from your assets a 1m/year splurge is a huge chunk of your income. At that level renting one would be far more appealing to most people. Though sure if owning a jet was a major hobby vs a means of transportation…
If I'm making $100k/yr and I spend $20k cash on a second car (e.g. I don't use that often), or a pool, it's the same ratio, and people do it all the time. And that's just luxury items, not things I can justify from a business perspective. And I don't disagree for most people renting or fractional ownership of planes are undoubtedly better deals (200 hours is a lot of time in the air), but none of that is what you said.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#149From TFA: > The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup. To be fair, if I had 75% of my net worth in a single asset, I'd also try to diversify. My wife and I both have lots of stock in the companies we work for, due to RSUs and employee stock purchase programs…
Just as a sidenote, here in Denmark, our Version of the 401k, its illegal to have more than 20% in a single stock, for your own safety.
I love to make my own decisions about my safety. That's a ridiculous. Does the state compensate those who 'for their own safety' were disadvantaged?
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#150Earlier quoted context omitted.
Just as a sidenote, here in Denmark, our Version of the 401k, its illegal to have more than 20% in a single stock, for your own safety.
I love to make my own decisions about my safety. That's a ridiculous. Does the state compensate those who 'for their own safety' were disadvantaged?
You can loose your money outside of your retirement account too though.