Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

bloomberg.com

Post reply on HN
Print view View original

21–30 of 205 posts

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#21

Post by at-fates-hands »

michalu wrote: post #11

That's to be expected. He was ousted from the company, has no control now so there's little reason why he should be bullish on a stock run by other people. Plus, the future isn't so clear and the markets are at all time highs and he has other company that may require liquidity in the coming years. Better be in cash.

I would also add the state of the market right now is favorable for sellers. Might as well strike when the market is hot and people will gobble his stocks up without any issues.

Considering an impending recession, it just makes sense he would dump these now.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#22

Post by jodrellblank »

michalu wrote: post #11

That's to be expected. He was ousted from the company, has no control now so there's little reason why he should be bullish on a stock run by other people. Plus, the future isn't so clear and the markets are at all time highs and he has other company that may require liquidity in the coming years. Better be in cash.

the markets are at all time highs

Isn't the world economy built on the idea that markets will always go up? Every year should be an all time high, otherwise we're in recession which is (apparently) tragedy to be avoided at all costs, no?

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#23

Post by Bishonen88 »

thisisbrians wrote: post #13
fastball wrote: post #7

Travis Kalanick and Adam Neumann should co-author a book entitled "Making Billions - No Profitability Required".

Your company doesn't have to make a profit for it to be (legitimately) worth a lot of money...Amazon is a great example.

Out of so many companies in the world, this might be the worst example. Amazon, whilst perhaps not doing super well in terms of profits, does not burn through its investors money and diversifies like crazy.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#24

Post by fastball »

thisisbrians wrote: post #13
fastball wrote: post #7

Travis Kalanick and Adam Neumann should co-author a book entitled "Making Billions - No Profitability Required".

Your company doesn't have to make a profit for it to be (legitimately) worth a lot of money...Amazon is a great example.

Amazon does make a profit though. And when they weren't, it was by choice and they were not burning billions in investor dollars to do it. But yes, I probably should've said "Viability" instead of "Profitability".

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#25

Post by libria »

fastball wrote: post #5
joncrane wrote: post #2

Interesting that the currrent CEO is buying Uber stock while founders are dumping it. It's unclear whether the stock Dara Khosrowshahi is buying comes at a discount, though.

Seems pretty reasonable. Travis is no longer steering the ship, so he gets his money out. Dara is in charge and presumably has confidence in his own abilities, so he buys shares at what are probably a low (given all the controversies and hiccups in the past two years), assuming Uber can actually get to profitability.

Hundreds of people who are not Uber CEO's are continuing to hold Uber stock. Not controlling a company is not a common reason to sell.

The article's implication - that Kalanick is simply pessimistic about his investment in Uber - seems more reasonable.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#27

Post by duxup »

My questions about the viability of Uber aside, I stick to the story I've heard repeated in many forms "executives sell shares for any number of reasons, but only buy for one reason".

Accordingly I don't put much meaning behind stories about an executive selling.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#29

Post by fastball »

libria wrote: post #25
fastball wrote: post #5

Earlier quoted context omitted.

Seems pretty reasonable. Travis is no longer steering the ship, so he gets his money out. Dara is in charge and presumably has confidence in his own abilities, so he buys shares at what are probably a low (given all the controversies and hiccups in the past two years), assuming Uber can actually get to profitability.

Hundreds of people who are not Uber CEO's are continuing to hold Uber stock. Not controlling a company is not a common reason to sell. The article's implication - that Kalanick is simply pessimistic about his investment in Uber - seems more reasonable.

Diversification. Having 75% of your wealth in a single asset is a terrible idea for anyone except the co-founder/CEO of a business, for whom continuing to have a skewed portfolio can be a signal of confidence.

Once you're not longer the person running the show, it makes a lot more sense to diversify, as you probably don't give a damn whether you're signalling confidence or not.

Re: Travis Kalanick Is Exiting His Uber Holdings Uber Quickly

#30

Post by michalu »

jodrellblank wrote: post #22
michalu wrote: post #11

That's to be expected. He was ousted from the company, has no control now so there's little reason why he should be bullish on a stock run by other people. Plus, the future isn't so clear and the markets are at all time highs and he has other company that may require liquidity in the coming years. Better be in cash.

the markets are at all time highs Isn't the world economy built on the idea that markets will always go up? Every year should be an all time high, otherwise we're in recession which is (apparently) tragedy to be avoided at all costs, no?

Yes but in series of "contract" / "expand higher" cycles, and right now we're definitely not in the contraction period.
Post reply on HN