Actually getting fired by the VCs might have been a blessing for him.
He can liquidate his holdings without worrying much about misleading the market and a potential law suit from shareholders if he was still the CEO or a director.
Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
151–160 of 205 posts
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#152Earlier quoted context omitted.
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 sai…
It’s both 1m upfront and 1m every year after that. So, buying a second car for 20k every year is a different story.
Put another way, someone making 100k/year could send their kid to prove school for 20k/year, but it’s a major expense that would impact their lifestyle or savings significantly. It’s possible, but not affordable.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#153From 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…
Pretty much. I learned this lesson the hard way in the dot.com crash, diversification is good.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#154Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#155[deleted]
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#156Earlier quoted context omitted.
I've been hearing about this impending recession for the better part of a decade now, is this just something people repeat so that when there is an inevitable downturn they can say "look I was right!"?
For the better part of a decade or for the last 3 years? The country is incredibly divided. About half the country thinks the country is going to shit anytime their party isn't leading. The country usually does go to shit when leadership is divided. And the economy has almost always gone to shit when the yield curve inverts. Combine that with the fact that inequality is at an all time high and a lot of people WANT to…
Anyone who can say with certainty what the market is going to do is usually selling you something. Especially, when they trot out a magic number that predicts something. The division you are noticing has been there for a long time (100+ years).
Will there be a recession? Yeah. When, is the trick, it could be tomorrow or 10+ years from now. That recession will also be followed by a boom. Such is life. That we have not had one recently is a bit unusual but not unprecedented. You could even argue the the world is already in the 'coming' recession, minus the US.
I would posit people wanting a recession is just a form of jealously and resentment. Normal? Not in my experience. But then I may have just not noticed. I remember the gas lines of the 70s. No one really wants that just to feel smug, do they?
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#157Earlier quoted context omitted.
The United States doesn't have a wealth tax (yet). Once you have something, you pay no taxes on it forever.
When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? This is a serious question, so I'm not understanding the downvotes. When the company i worked for IPO'd I had to pay taxes on the stock when the paper money turned into real money.
> When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No?
You generally don't have to pay taxes on stock options until you actually have income from them - ie sell. There are some exceptions, and in some cases paying at-vest can actually reduce your overall tax burden (by excercising options you don't intend to sell right away, you can start the clock to turn them into long-term capital gains when you do).
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#158Earlier quoted context omitted.
It's not just that it's at all time highs. PE ratios are also at all time highs: that's the Price to earnings ratio. There's a number of indicators right now that are at all time highs like the Warren buffet ratio (GDP/earnings), all pointing saying this market is really expensive. This is the most hated bull market ever. None of the experts are buying heavily into this market (it's all stock buybacks that's driving…
Since you mention Warren Buffet, I will say that what makes me most nervous about the market is that collectively everyone seems to be concluding that it's overheated. By the time the hordes figure it out, it's already happened.
This recession talk seems to be happening suspiciously close to an election year. It's almost as if someone is trying to concoct a self-fulling prophecy.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#159At first I didn't understand what the title meant, then I remembered the original meaning of uber.
Yes, journalists and editors can't resist puns these days. To me it cheapens their credibility on that particular article, like I shouldn't take it too seriously.
Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly
#160Earlier quoted context omitted.
When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? This is a serious question, so I'm not understanding the downvotes. When the company i worked for IPO'd I had to pay taxes on the stock when the paper money turned into real money.
> When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? You generally don't have to pay taxes on stock options until you actually have income from them - ie sell. There are some exceptions, and in some cases paying at-vest can actually reduce your overall tax burden (by excercising options you…
Did the Uber guy have options or restricted stock units? For restricted stock units one has to pay tax at time of vesting/IPO afaik. But as founder things are probably different...