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Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

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Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#171

Post by martin_bech »

dangoldin wrote: post #165
jacquesm wrote: post #149

Earlier quoted context omitted.

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?

I wonder if you can have 20% in the stock and the remaining in various forms of options that end up acting as the remaining 80%. If each of the options counts as its own stock you can do some interesting financial engineering work to make it happen. Although options themselves are riskier so not sure what sort of incentive that sets.

Nope you can't. And you can't split by buying Class A and Class B stock.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#172

Post by rolltiide »

gwd wrote: post #6

From 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…

people that can't trade with conviction should not be in the market, whoever derives confidence in a company based on the founder's holdings deserves to get taken to the cleaners

and yes, that includes employees who are also married to their consolidated, vested, and liquid positions. they too should be treating it as a trade.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#173

Post by alistproducer2 »

While there may be more upside to this market, the probability of his fortune being halved are much higher than them being doubled in the next 12-24 months. He could always buy back in now that he's liquid, but when the bottom drops out of the market and there aren't any bids (especially for unprofitable monopoly plays like Uber) he could find himself a lot poorer really fast.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#174

Post by mathattack »

gwd wrote: post #6

From 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…

Especially if you’ve been kicked out and think the company is going the wrong direction.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#175

Post by colinmhayes »

ummonk wrote: post #84
aianus wrote: post #50

Earlier quoted context omitted.

Uber has positive unit economics. Uber gets ~20% of what you spend on a ride and their per-unit expenses are basically moving a few bits around and having someone in a Filipino call center present to provide customer support.

After taking into account driver incentives (which should be classified as cost of revenue, not sales and marketing), their unit economics are unprofitable.

UberX is now making money overall. UberEats is the division that is siphoning off driver incentives and costing them billions.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#176

Post by hannasanarion »

niij wrote: post #128
hannasanarion wrote: post #85

Earlier quoted context omitted.

The United States doesn't have a wealth tax (yet). Once you have something, you pay no taxes on it forever.

You have to pay taxes on houses and/or vehicles forever (depending on the state).

You don't pay taxes on your vehicle if you don't drive it. All vehicle related taxes I'm aware of are usage taxes, not wealth taxes.

Real estate taxes are a thing, yeah, but only at the state level and below. A better statement would be: there is no federal wealth tax, and taxes on non-real property are unheard of, but that's a mouthful.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#177

Post by blackflame »

stevehawk wrote: post #78
mrosett wrote: post #52

Earlier quoted context omitted.

There's not a whole lot of evidence for an impending recession.

In the US there is a significant downturn in a handful of industries that are the first to decline in a recession. For instance, RV/ camper sales are in a post-boom decline. I'm not saying that means there is an incoming recession as a number of reasons could be at play likethe market simply correcting itself, but things like that tend to be why people think one is impending.

There are many factors such as gas prices that need to be considered as well when it comes to RV sales for example. Maybe people are now able to fly and stay in hotels instead. Maybe more people know that the best days of owning an RV are the day you buy it and the day you sell it.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#178

Post by kerng »

hannasanarion wrote: post #176
niij wrote: post #128

Earlier quoted context omitted.

You have to pay taxes on houses and/or vehicles forever (depending on the state).

You don't pay taxes on your vehicle if you don't drive it. All vehicle related taxes I'm aware of are usage taxes, not wealth taxes. Real estate taxes are a thing, yeah, but only at the state level and below. A better statement would be: there is no federal wealth tax, and taxes on non-real property are unheard of, but that's a mouthful.

I'm not sure how this ended up being about wealth taxes. If you get RSU pre IPO, you have to pay regular tax on the value at IPO time.

So, if you get a billion dollar in RSU, then you pay a couple hundred million in tax at time of IPO. Hence, unless you are already rich, you need to sell stock just to cover the taxes.

I'm not sure what kind of stock Uber issues and what kind a founder would have gotten (e.g options, RSU,...)

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#180

Post by manigandham »

cVwEq wrote: post #98
gwd wrote: post #6

From 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…

As an aside to the parent poster, an often-stated guideline for the maximum amount you should own in the companies you work for is 10% of your portfolio value [1][2]. Modern portfolio theory (Markowitz, et. al.) calculations for a bundle of assets probably would bear out that 20% in a single stock is not on the efficient frontier [3]. [1] https://www.marketwatch.com/story/dont-invest-in-your-compan... [2] https://www…

Diversification is for people who have no idea what they're investing in. Portfolio theory is spray/pray with no information which is what VCs do with unestablished startups, hoping for the wins to beat the losses. If you want to be that passive then just buy an ETF or all the large-cap blue-chip dividend stocks instead to keep it simple.

Investment funds with a real thesis and research don't do this. Concentrated positions and proper risk management is active investing and generates much greater profits. If you know a sector and company is doing well, diversifying will only reduce your returns.

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