Uber CEO Takes Leave
We have all known for a while now that Uber has been confronted with a big upper management issue, which was then made worse by the surfacing of sexual harassment in Uber's workplace. For news to now reveal that the CEO is taking a leave of absence is just putting salt on the wound.
Uber seems to be making a comeback by lowering losses from Q4 2016 which is evident from this article, but with the CEO out of the picture for an unknown period of time, could this bring Uber back to more losses until they get the issue settled? Will Uber's investors start to drop out? Could this effect a potential IPO?
Thoughts?
Comments?
There's a pattern everytime a company is doing well, a scandal comes out.
one of the board members just got caught saying something sexist in the last couple of days
Not just any board member. David Bonderman - dude founded TPG.
He made the comment while Arianna Huffington was leading a panel on how they would address the sexism culture at the company lmao. He had to resign.
Yep, he just resigned.
Just read what he said. It's actually 1) kind of funny and 2) kind of true. Still, super dumb to say in 2017 America.
Kalanick is a fantastic startup CEO. He is the kind of person who can bend the laws of physics through sheer force of will. And in that initial rush to gain traction and eventually scale, he's the kind of leader you want steering the ship.
When a company becomes big enough, that sort of whatever-it-takes mentality becomes detrimental, and things like employee retention and culture become far more important to the sustainability of a company's operational integrity. Given Kalanick clearly doesn't care about those things, he's let Uber's internal culture get out of control. He needs adult supervision (Eric Schmidt/Google, Sheryl Sandberg/Facebook).
Uber has a great product. I don't know enough about ridesharing to know whether or not they can squeeze positive unit economics out of it with enough scale, but if that thesis proves out then it shouldn't be hard to 1) recruit a good senior manager to carry Uber through to IPO, or 2) get through this unfortunate series of speed bumps. I doubt issues around a company's internal culture will cause investors to jump ship (just look at Tanium).
Current Uber CEO was a great fit when the company needed to grow and expand with a "No fucks" given attitude into different markets. However, the company has gotten too big and they need an experienced CEO to make Uber operationally sound. All the internal memo's and emails I've read from Kalanick are pretty embarrassing... it sounds like the company just needs some parental guidance to take them to the next level.
You cannot discredit the man for taking Uber to it's current success, but he fits into a corporate environment like the pope at a nudist colony. Uber has had trouble with Kalanick for years... he wrote an email before a company party in 2013 saying, and I quote:
"Do not have sex with another employee UNLESS a) you have asked that person for that privilege and they have responded with an emphatic "YES! I will have sex with you" AND b) the two (or more) of you do not work in the same chain of command. Yes, that means that Travis will be celibate on this trip. #CEOLife #FML"
In the email, he refers to himself in the third person. When has John Welch from GE ever done that? Saying Uber needs someone to take the helm and run the company better operationally isn't like discovering Penicillin. If anything I unintentionally saved people time.
Enjoy the cliff notes... Dick.
This is why I am against these split voting rights stock. If shareholders had a proportionate vote, this dude would likely be fired. The mistakes are just piling up: executive exodus, paid for a self driving car firm that stole waymo technology and is in an active lawsuit over that, rampant sexism, caught on camera berating the one of the very drivers you rely on for that ridiculous valuation. But it is a "leave of absence" because three people essentially control the company. This split voting rights tech shit is going to hit the fan at some point and I can't wait for the market to realize how foolish it is to purchase equity that offers essentially no voting rights.
Thoughts on Uber's new CEO? (Originally Posted: 08/27/2017)
Hey monkeys,
It was recently announced that Dara Khosrowshahi, the current CEO of Expedia, will become Uber's next CEO. Not surprisingly, Khosrowshahi's first responsibilities will be to confront the issues regarding the company's workplace culture and how the public views the company to lead Uber to its IPO. He was chosen over Jeffrey Immelt, the former CEO of GE.
How do you feel about Uber's pick for CEO? Who do you think would have been a better choice?
EDIT: WRONG THREAD SRY
I view uber as a great ride hailing app. They could sacrifice children to the devil in their offices and I'd use the app.
Seriously, who the fuck are the people not using uber cause a bunch of tech nerds "harassed" the office 4 out of 10?
Great guy, great choice.
Uber CEO Resigns (Originally Posted: 06/21/2017)
After several months of scandals and upper management issues, including many key figures leaving, investors have had enough and Kalanick is being forced to resign. It's surprising to see investors turn their back on a startup founder, because there is this "founder-above-all" attitude amongst many companies in the Valley nowadays. While I respect the tremendous amount work Kalanick did at Uber, he had become a huge liability and was becoming a bit of an asshole IMO. Theoretically he had the voting rights to stay, however when the likes of Benchmark and Fidelity are pressuring you to step down it's hard not to. So I ask a few questions:
Is this virtually the end of Kalanick's Silicon Valley career?
Will this give competitors such as Lyft a bigger advantage and more appeal to the general public?
Who do you think should be the new CEO to take the company forward?
Will potential investors be turned off in investing in Uber due to the issues of the past few months? (Uber has to raise more money soon)
Will Uber survive?
Comment any additional thoughts down below.
Kalanick is a hero who took on hundreds (maybe thousands?) of crony governments worldwide and, for the most part, kicked their f*cking asses and created what will ultimately be a large part of the transportation network of the future. If not for him/Uber, ride-sharing would have taken 50 years to take off because the rest of the ride-sharing companies, Lyft included, are run by a bunch of gutless pussies. No matter if he's a horrible person or not, regardless of his competence as a modern-day manager, I hope that history remembers him as the hero that he is.
I think if Uber implodes due to being late on self-driving cars he will go down as someone who overreached.
Kalanick's heroics are independent of what ultimately happens with Uber. Nobody remembers President Grant--we remember General Grant. Regardless of what happens with Uber in the future, Kalanick is a hero for his industry.
It is the right decision taken by him to save the big transportation giant in the world.
will all the scandals and stuff, i think his decision to resign is right.
No and I sure hope not. Say what you will about Uber and the sharing economy as a whole but it takes vision and drive to turn an inconvenience into an idea that receives billions in funding. If anything Travis changed our world and our expectations for services.
I'm doubtful. Lyft hasn't done much IMO other than be Option 2 for ride hailing.
No idea but maybe someone who has a strong background in logistics, operations management, etc. Perhaps a current or former CEO or COO of a train company like NorfolkSouthern. I figured they could apply best practices because at the end of the day its about moving people but what do I know.
Perhaps. Travis WAS Uber and as its founder and brainchild, now that he's gone I'm less hopeful for the future of Uber. I wouldn't be surprised if he came back.
Yes but I'm worried about investor patience and whether Uber can continue to develop and get towards sustained profitability. I like the idea of Uber Eats but more services need to be offered and streamlined in one ecosystem for the consumer.
Maybe partner with Amazon for grocery delivery?
Imagine if he made a Steve Jobs-esque return. That was one of my first thoughts when he resigned. In my opinion, Uber can carry on and become even more successful if they recruit better C-suite execs. However, if they recruit a weak CEO then I can only see failure ahead for Uber.
assholes don't get multiple opportunities to take corrective action.
Be a nice guy/gal get more chances.
Uber is a criminal ponZi scheme.
Now that he resigned he can sleep with all of the uber employees he wants. This must be a key benefit for him since it bothered him so much that he mentioned it in his official communications to his employees.
Uber's New CEO is Taking on Two Battles (Originally Posted: 09/02/2017)
Hey monkeys, Uber recently righted their ship with the choice of Dara Khosrowshahi as its new CEO. In order to succeed he will have to face the internal barriers to growth and company culture as well as facing the battle to create profitable growth.
Khosrowshahi has a massive responsibility to steer Uber out of rough waters and he definitely has the tools to do so. It's just a question of whether he will succeed in doing so.
Kalanick is an alright CEO. I personally wouldn't call him an uber CEO though.
Hahahaha, SB for you sir
He seems to have the credentials for doing it. But you will have to figure out the dynamics between board/ Kalanick and the new CEO. In my opinion, it might be a bit difficult for them to hit the IPO. Maybe, a new investing round by Softbank is in the offing. The media is buzzing with rumours already.
What will Uber become after Kalanick ? (Originally Posted: 06/24/2017)
https://www.bloomberg.com/news/articles/2017-06-21/uber-chief-executive…
Most if not all of you must know that Travis Kalanick has resigned from Uber as the CEO. Uber is the most valued technology start-up in the U.S. (over $70 billion). But it might be superseded than Lyft, a rival.
Three things Lyft does that are better than Uber :
Lyft is slightly more expensive than Uber though.
Now the Godfather of the company has left, what will keep Uber moving forward ? How much value did Travis Kalanick add to the company ? Will Uber fall into the second-tier?
I've started using Juno almost exclusively. It's well known that Uber does price targeting based on what they predict each user is willing to spend, and my Uber fares have been coming up astronomical in the last few weeks. Juno is almost half off
If Uber is using discriminatory pricing tactics can't they be sued for that?
I too feel like they've been using price fixing based on what they expect you to pay. I live in a small condo in one of the nicer zipcodes in my state and have noticed the price has risen like 5% or so this year. Although not much, my base fare rose by a penny in May.
Well during Kalanick's time as CEO, he certainly introduces some level of volatility, as his actions are seen at times to be somewhat controversial. I don't see Lyft posing too much competition to Uber since
a.) Uber is still intrinsically more valuable (potentially) due to it's grounded reputation and presence in the industry even though Lyft started before Uber.
And b.) Uber also has it's Ubereats branch which also provides it with extra revenue. I would regard Ubereats and Deliveroo the two main premium food delivery services (in the UK perhaps, other lower qualities include Hungryhouse, Justeat, Jinn etc.)
However, the value added of Kalanick is not unsubstantial, his leadership was crucial in paving the path of uber's rise and phenomenal success. Uber was created in the beginning as a premium service, but Kalanick swiftly altered the business model of Uber which made it far more successful. Moreover, Uber was not Kalanick's first venture success (I think its called Red Swoosh?), but even after a plethora of profits, Kalanick's determination and lack of complacency led him to the inception of Uber.
I have tried Ubereats, Grubhub/Seamless and Doordash. I feel that Doordash provides customers with the most abundant choices. Amazon has opened a delivery service (they did it for free for a year). But now they charge a fee for the delivery and they require a $20 minimum.
Itss going to become a politically correct shit company. Look at what happened to apple. a gay leads the company, and he has turned it into a homosexual rights organization. Or look at all those companies destroyed by women CEOs, all of them affirmative action. now a woman is most likely going to take over UBER and we all know how that is going to end up.
is that sarcasm or do u mean it lol
Yesterday I was asking a Uber driver about this thing. He said that he had a theory: Lyft and Uber are actually controlled by the same group...drivers don't seem to like Kalanick very much.
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