# VC Firm Benchmark is suing Travis Kalanick for fraud



## BurgerTiime (Jun 22, 2015)

https://www.axios.com/benchmark-capital-sues-travis-kalanick-for-fraud-2471455477.html?stream=top-stories&utm_source=alert&utm_medium=email&utm_term=alerts_all
Update: 
*Uber shareholder group asks Benchmark to step down from board following Kalanick suit*
https://techcrunch.com/2017/08/11/u...step-down-from-board-following-kalanick-suit/
*Venture Capital firm Benchmark is suing former CEO of Uber Travis Kalanick for fraud in breach of contract and failure of fiduciary duty in disclosing issues within including sexual harassment claims.*
AXIOS - Aug 10 2017








The battle between Benchmark Capital and Travis Kalanick just went nuclear, with the venture capital firm suing the former Uber CEO for fraud, breach of contract and breach of fiduciary duty. The complaint was filed earlier today in Delaware Chancery Court.

*Key graph, per the suit:* _"Kalanick, the former CEO of Uber, to entrench himself on Uber's Board of Directors and increase his power over Uber for his own selfish ends. Kalanick's overarching objective is to pack Uber's Board with loyal allies in an effort to insulate his prior conduct from scrutiny and clear the path for his eventual return as CEO-all to the detriment of Uber's stockholders, employees, driver-partners, and customers."_

*Why it matters:* If Benchmark's suit is successful, Kalanick would be kicked off Uber's board of directors -- thus eliminating any faint hopes of him returning to the company in a substantial role.

resign in June, and tensions between the two have contributed, in part, to the slow pace of finding a replacement. Oh, and venture capital firms don't usually sue fellow board members of their single most valuable investment.

*Complaint: *The suit revolves around the June 2016 decision to expand the size of Uber's board of voting directors from eight to 11, with Kalanick having the sole right to designate those seats. Kalanick would later name himself to one of those seats following his resignation, since his prior board seat was reserved for the company's CEO. The other two seats remain unfilled. Benchmark argues that it never would have granted Kalanick those three extra seats had it known about his "gross mismanagement and other misconduct at Uber" - which Benchmark claims included "pervasive gender discrimination and sexual harassment," and the existence of confidential findings (a.k.a. The Stroz Report) that recently-acquired self-driving startup Otto had "allegedly harbored trade secrets stolen from a competitor." Benchmark argues that this alleged nondisclosure of material information invalidates Benchmark's vote to enlarge the board.

Moreover, Benchmark alleges that Kalanick pledged in writing -- as part of his resignation agreement -- that the two empty board seats would be independent and subject to approval by the entire board (something Benchmark says was the reason it didn't sue for fraud at the time). But, according to the complaint, Kalanick has not been willing to codify those changes via an amended voting agreement.

*What Benchmark wants:* An invalidation of the June 2016 stockholder vote and related actions, which would effectively eliminate the three board seats. And, in so doing, remove Kalanick from Uber's board of directors. It also is asking the court for a preliminary injunction against Kalanick's ongoing involvement in Uber board matters which, if granted, would remove him from the CEO search process.

*Stakes: *Per the complaint, Kalanick currently holds around a 10% equity stake in Uber, which most recently was valued at around $70 billion. Benchmark holds approximately 13 percent.

*Comment from Kalanick spox: "*The lawsuit is completely without merit and riddled with lies and false allegations. This is continued evidence of Benchmark acting in its own best interests contrary to the interests of Uber, its employees and its other shareholders. Benchmark's lawsuit is a transparent attempt to deprive Travis Kalanick of his rights as a founder and shareholder and to silence his voice regarding the management of the company he helped create. Travis will continue to act in the interests of Uber and all of its stakeholders and is confident that these entirely baseless claims will be rejected."

*More:* Axios was unable to reach Benchmark (_Update: It declined comment_). Uber, which is named as a "nominal defendant" (which is just a statutory requirement, it isn't an actual defendant in the case) declined comment. It also is worth noting that, earlier today, Uber's first employee and original CEO, Ryan Graves, said he would step down as VP of operation but maintain his board seat.

*[ Read the entire complaint ]*


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## TwoFiddyMile (Mar 13, 2015)

Cool!


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## Ca$h4 (Aug 12, 2015)




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## rembrandt (Jul 3, 2016)

The trend is changing. VCs are now starting to come forward from the background to show who the boss is. I believe that the culture of having a bro clown as the public face is coming to an end because these clown are becoming a liability. On the other hand, VCs will not stop with their quasi- Ponzi schemes , they will find something different than maintaining expensive and risky actors like Kalanick or may be the one in the picture below.


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## Cigars (Dec 8, 2016)

I am no kalanick fan, but this seems petty.
Calling gender discrimination "gross mismanagement" (and the innocent venture capital was unaware)
and trying to invalidate 3 board seats.
Claiming he agreed to something but now won't sign an ammended agreement over rights to name 2 Board seats.
Claiming that he knew (but the innocent VC did not know) trade secrets came with Otto.

The Venture Capital is still in a battle with Kalanick.
Kalanick is not going quietly and kicking and screaming (and probably trying to exert control over the board).
Kalanick had the company set up so he would keep control of the board. The VC agreed to that with their investment.

Now because Kalanick is kicking and screaming (and probably being obstructionist),
they are attempting to remove him from the board and let the adults take over.

In my opinion, he still owns 10% and has a right to a board seat.
Every immoral and unethical (illegal?) thing he did, venture capital knew about and acquiesced to.
Now they claim they knew nothing about it.
Graves was part of every unethical thing every step of the way.
He was allowed to step down and keep his seat.


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## ABC123DEF (Jun 9, 2015)

I've got my popcorn ready.


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## TimyTim (May 26, 2017)

The whole company is falling apart pretty quickly and in a spectacular way.


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## rembrandt (Jul 3, 2016)

Kalanick made the gravest mistake of hurting everybody, leaving no one to stand for him in the end- such an egoist ; the modern day 'Tony Montana'. Had he been at least reasonable with the drivers !


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## jonhjax (Jun 24, 2016)

none of these owners of uber care about the drivers. haven't you figured that out yet? If uber had rates high enough to make a profit and keep their drivers happy their rates would've been about the same as taxis, so they wouldn't have grown nearly as fast.
taxis have been creating their own apps too, in case you haven't noticed.


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## WaveRunner1 (Jun 11, 2017)

Lord Travis was making a comeback or so he thought he was after he was dethroned as CEO. Now, cornered, he may resort to desperate tactics. You think Kim Jong-un is unstable and a threat? Wait until you see what Lord Travis has in store.


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## ABC123DEF (Jun 9, 2015)

This is all probably just what happens when you try to grow at breakneck speeds trying to run over every and anything in the way in the process. There's a lesson to be learned here, kids.


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## Ca$h4 (Aug 12, 2015)

*Uber in shambles. Benchmark can't get out. Kalanick controls.*

*One of Uber's biggest investors is suing Travis Kalanick for control of the company*

*https://qz.com/1051220/benchmark-capital-sues-travis-kalanick-and-uber-for-control-of-the-company/*


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## Lag Monkey (Feb 6, 2015)

Kalanick still causing a chit storm at UBER and he isn’t even the CEO anymore. Talk about burnt bridges they turned on him as quick as he turned on everyone else. The Lannisters send their regards, Travis


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## Ca$h4 (Aug 12, 2015)

*Uber investor sues to force former CEO Kalanick off board*

*http://www.reuters.com/article/us-uber-lawsuit-idUSKBN1AQ2DF*


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## WaveRunner1 (Jun 11, 2017)

Lag Monkey said:


> Kalanick still causing a chit storm at UBER and he isn't even the CEO anymore. Talk about burnt bridges they turned on him as quick as he turned on everyone else. The Lannisters send their regards, Travis


Apparently Benchmark wants him off the board entirely. Can you imagine co-founding a company and being CEO and quickly finding yourself stripped of any power in the company within just a few months? I almost feel bad for Travis but not really.


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## Brooklyn (Jul 29, 2014)

Cigars said:


> I am no kalanick fan, but this seems petty.
> Calling gender discrimination "gross mismanagement" (and the innocent venture capital was unaware)
> and trying to invalidate 3 board seats.
> Claiming he agreed to something but now won't sign an ammended agreement over rights to name 2 Board seats.
> ...


Well to be fair how would you feel if there's talks of the valuation being dropped by around $20+ billion because of Kalanick's idiocy? I think you'd want him out the door too.


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## uberdriverfornow (Jan 10, 2016)

> Travis will continue to act in the interests of Uber and all of its stakeholders...


When did this ever happen ? The only thing Travis has wanted to do is make sure drivers don't make any money. Who cares about profit.


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## TwoFiddyMile (Mar 13, 2015)

Lag Monkey said:


> Kalanick still causing a chit storm at UBER and he isn't even the CEO anymore. Talk about burnt bridges they turned on him as quick as he turned on everyone else. The Lannisters send their regards, Travis


The LANNISTERS always pay their DEBTS.


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## TwoFiddyMile (Mar 13, 2015)

Dear Jesus I pray heartily for the quicker death of Uber I'm sorry I've been running with the devil but you were a Jew once too amen


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## ABC123DEF (Jun 9, 2015)

TwoFiddyMile said:


> Dear Jesus I pray heartily for the quicker death of Uber I'm sorry I've been running with the devil but you were a Jew once too amen


What's really sad/funny/crazy is...I think a good majority of Uber's own drivers want to see the company's wheels fall off MORE so than taxi drivers do!


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## TwoFiddyMile (Mar 13, 2015)

ABC123DEF said:


> What's really sad/funny/crazy is...I think a good majority of Uber's own drivers want to see the company's wheels fall off MORE so than taxi drivers do!


Of course. You guys are more directly abused than me.
Think about this:
Yesterday I was super depressed and angry because I hung out at two hotels for 4 hours or so.
I saw 30 to 50 Uber transactions.
But think about this;;;
I wasn't one of the ones losing at $0.62 per MILE...


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## Mazda3 (Jun 21, 2014)

ABC123DEF said:


> This is all probably just what happens when you try to grow at breakneck speeds trying to run over every and anything in the way in the process. There's a lesson to be learned here, kids.


This whole thing will be a case study in business schools all over the world for at least a 100 years.


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## JimS (Aug 18, 2015)

What's the Viet Cong got to do with Travis?


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## Trebor (Apr 22, 2015)

jonhjax said:


> none of these owners of uber care about the drivers. haven't you figured that out yet? If uber had rates high enough to make a profit and keep their drivers happy their rates would've been about the same as taxis, so they wouldn't have grown nearly as fast.
> taxis have been creating their own apps too, in case you haven't noticed.


Yea, but if the doubled the rates Uber would still be 45 percent cheaper than taxi's (as they advertised in my city when rates were double) and most riders wouldnt bat an eye. If anything, we would see a drop in small petty rides, not a bad thing. In fact, when rates were double, most riders were excited about how much cheaper it is than a taxi.

Now that riders are loyal, if they were to increase rates, everyone would make more money and be happy.


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## TwoFiddyMile (Mar 13, 2015)

Trebor said:


> Yea, but if the doubled the rates Uber would still be 45 percent cheaper than taxi's (as they advertised in my city when rates were double) and most riders wouldnt bat an eye. If anything, we would see a drop in small petty rides, not a bad thing. In fact, when rates were double, most riders were excited about how much cheaper it is than a taxi.
> 
> Now that riders are loyal, if they were to increase rates, everyone would make more money and be happy.


Lol. Riders are loyal to the artificially deflated prices.
Double the rate, Watch my business return.


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## jfinks (Nov 24, 2016)

getoutofmycar said:


> Its a very ominous sign.......bankruptcy is coming faster than anyone thinks......Maybe less than a year....
> 
> The investors are in for a big loss and trying to claw back as much of their capital as possible with lawsuits before the cash drawer is empty....... This is not something that would even remotely happen if Uber had a tiny chance of surviving.......


Bankruptcy isn't even close to meaning the end of Uber.


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## Taxi Driver in Arizona (Mar 18, 2015)

JimS said:


> What's the Viet Cong got to do with Travis?


I love the smell of burning unicorns in the morning. Smells like victory.


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## NorthNJLyftacular (Feb 2, 2017)

ABC123DEF said:


> This is all probably just what happens when you try to grow at breakneck speeds trying to run over every and anything in the way in the process. There's a lesson to be learned here, kids.


Something tells me that the VC money men won't take this lesson to heart. "Growth at breakneck speeds" and "running over everyone" are the very things that get them aroused!


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## steveK2016 (Jul 31, 2016)

WaveRunner1 said:


> Apparently Benchmark wants him off the board entirely. Can you imagine co-founding a company and being CEO and quickly finding yourself stripped of any power in the company within just a few months? I almost feel bad for Travis but not really.


Steve jobs was fired as Apple CEO.


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## jfinks (Nov 24, 2016)

NorthNJLyftacular said:


> Something tells me that the VC money men won't take this lesson to heart. "Growth at breakneck speeds" and "running over everyone" are the very things that get them aroused!


The rich love tax deductions for losses also.


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## tohellwithu (Nov 30, 2014)

Uber is going down....to the hole. It's crumbling ....wait time is coming..


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## jfinks (Nov 24, 2016)

tohellwithu said:


> Uber is going down....to the hole. It's crumbling ....wait time is coming..


Nope, someone will buy them out before they go away. Too much revenue and growing to go down. Just because they lose money doesn't mean they aren't growing. It is like Amazon, rarely do they make money (on the books), but their growth rate is always good.


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## UberBastid (Oct 1, 2016)

TwoFiddyMile said:


> Lol. Riders are loyal to the artificially deflated prices.
> Double the rate, Watch my business return.


So, you're saying that the pax will be happy to pay $3.20 per mile when Uber is available at $1.50?
Um, ok.


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## tohellwithu (Nov 30, 2014)

That's being too greedy, disrespecting every driver, unethical, db, f &#$&# er...now see this MOF...he is going down. I do believe in karma and he is getting what he has done to million soul..



jfinks said:


> Nope, someone will buy them out before they go away. Too much revenue and growing to go down. Just because they lose money doesn't mean they aren't growing. It is like Amazon, rarely do they make money (on the books), but their growth rate is always good.


I don't know bro what will happen. All.i want is that [email protected]$#er Travis being hunt by his karma. It's a million people cursed behind him..


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## UberBastid (Oct 1, 2016)

tohellwithu said:


> That's being too greedy, disrespecting every driver, unethical, db, f &#$&# er...now see this MOF...he is going down. I do believe in karma and he is getting what he has done to million soul..
> 
> I don't know bro what will happen. All.i want is that [email protected]$#er Travis being hunt by his karma. It's a million people cursed behind him..


Yes, he will be hurt.
He'll walk away with only $2 billion, instead of $5 billion.
THAT will teach him.


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## Leonard818 (Oct 4, 2015)

TwoFiddyMile said:


> Of course. You guys are more directly abused than me.
> Think about this:
> Yesterday I was super depressed and angry because I hung out at two hotels for 4 hours or so.
> I saw 30 to 50 Uber transactions.
> ...


Just curiosity did you make any money during that 4 hours?


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## tohunt4me (Nov 23, 2015)

BurgerTiime said:


> https://www.axios.com/benchmark-capital-sues-travis-kalanick-for-fraud-2471455477.html?stream=top-stories&utm_source=alert&utm_medium=email&utm_term=alerts_all
> 
> *Venture Capital firm Benchmark is suing former CEO of Uber Travis Kalanick for fraud in breach of contract and failure of fiduciary duty in disclosing issues within including sexual harassment claims.*
> AXIOS - Aug 10 2017
> ...


GLOBALISTS.

BY HOOK OR BY CROOK.



getoutofmycar said:


> Its a very ominous sign.......bankruptcy is coming faster than anyone thinks......Maybe less than a year....
> 
> The investors are in for a big loss and trying to claw back as much of their capital as possible with lawsuits before the cash drawer is empty....... This is not something that would even remotely happen if Uber had a tiny chance of surviving.......


What can they possibly hope to possibly possess by all of this infighting ?
( here. Here is a bag of air. It is all yours now)
We want all investors to rest assured that we are in control now.
The1/2 bag of air is Safely in our hands now. Spend with Confidence !



Taxi Driver in Arizona said:


> I love the smell of burning unicorns in the morning. Smells like victory.


Shocked to discover a monkey was flying the plane
The passengers immediately removed the monkey.
Then realized
No one had the monkeys experience . . .

( lesson : think it through before you act)



JimS said:


> What's the Viet Cong got to do with Travis?


Place him in charge of building skull pyramids of course !
( Recruit your Friends!)


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## steveK2016 (Jul 31, 2016)

You think Lyft is going to go easy on drivers once they have the monopoly on rideshare in 90% of US markets? Lol


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## TwoFiddyMile (Mar 13, 2015)

Leonard818 said:


> Just curiosity did you make any money during that 4 hours?


Yes. After waiting patiently I got dispatched to a $42 job. Yesterday wasn't really in the cards for me.
Today has been much better.


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## tohunt4me (Nov 23, 2015)

tohunt4me said:


> GLOBALISTS.
> 
> BY HOOK OR BY CROOK.
> 
> ...


The monkey may consider returning to the pilots seat for a raise and greater control . . .


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## NorthNJLyftacular (Feb 2, 2017)

steveK2016 said:


> Steve jobs was fired as Apple CEO.


Yes, but Jobs was fired when Apple was doing well, and came back years later, when the company was in the dumps. Travis, if he's trying to pull a Jobs, has sped up the process, trying to get back in after having never really left. He probably did this because he knows the company is already in the crapper and it won't be around in a few years.


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## dirtylee (Sep 2, 2015)

When $7 billion of my stocks are on the line in a company I founded & built, yeah, I wouldn't want to leave either. 

Uber took TK from like 5 - 10m to like over $7b. Nearly everyone here would be in a homicidal rage if that happened to them.


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## Mars Troll Number 4 (Oct 30, 2015)

dirtylee said:


> When $7 billion of my stocks are on the line in a company I founded & built, yeah, I wouldn't want to leave either.
> 
> Uber took TK from like 5 - 10m to like over $7b. Nearly everyone here would be in a homicidal rage if that happened to them.


IF i was TK i'd have disappeared to the Caribbean for a few years.


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## JimKE (Oct 28, 2016)

The latest news on this lawsuit is the other investors are trying to force Benchmark to sell their shares and leave the board. They're demanding that Benchmark sell at least 75% of the Uber stock they own and give up their seat on the Board of Directors.

"Benchmark's tactics are "*ethically dubious* and, critically, value-destructive rather than value enhancing," the investors wrote in the email."

http://www.reuters.com/article/us-uber-lawsuit-idUSKBN1AR2BD


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## Kalee (Feb 18, 2015)

ABC123DEF said:


> What's really sad/funny/crazy is...I think a good majority of Uber's own drivers want to see the company's wheels fall off MORE so than taxi drivers do!


Well yeah. You're damned right about that.

I've been posting on here for a long long time that Uber's imminent collapse WILL happen and that it will make the collapse of Enron look like child's play.
Long ago I had also forecast many suicides will come from the collapse of Uber. That is the sad part. That's going to happen.



jfinks said:


> The rich love tax deductions for losses also.


Yes, they do. But not 10 digit losses


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## NorthNJLyftacular (Feb 2, 2017)

dirtylee said:


> When $7 billion of my stocks are on the line in a company I founded & built, yeah, I wouldn't want to leave either.
> 
> Uber took TK from like 5 - 10m to like over $7b. Nearly everyone here would be in a homicidal rage if that happened to them.


I think it's the opposite. Precisely bc he's made that much, he should STFU and walk away. 
Say it with me everyone, SEVEN BILLION. I'm sure, in his way, he's talented and intelligent. He DID grow Uber into a behemoth. But it also takes a tremendous amount of luck and good fortune to end up with SEVEN BILLION DOLLARS in this life. So Travis should say goodbye, knowing that his children's children's 
children's, children's, children's, children's, 
children's children, never ever ever ever will be slaves.


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## jfinks (Nov 24, 2016)

Kalee said:


> Well yeah. You're damned right about that.
> 
> I've been posting on here for a long long time that Uber's imminent collapse WILL happen and that it will make the collapse of Enron look like child's play.
> Long ago I had also forecast many suicides will come from the collapse of Uber. That is the sad part. That's going to happen.
> ...


Those 10 digits are spread across hundreds of people, maybe more.


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## Wil_Iam_Fuber'd (Aug 17, 2015)

Rome is burning, anyone else smell the stench?


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## Cigars (Dec 8, 2016)

Brooklyn said:


> Well to be fair how would you feel if there's talks of the valuation being dropped by around $20+ billion because of Kalanick's idiocy? I think you'd want him out the door too.


I do not disagree with "wanting him out the door".
As a driver, I wanted him out the door.
And he went, 1 month too late (for me as a driver). I found the May 22nd contract that released us from a % disgusting. I found that at about the same time, customer service began denying all driver requests for legitimate shorts and expenses. I used to receive some satisfaction when my mileage was short or tolls were short, until customer service changed one month before he was fired.

If I was a stock holder, I would also want him out the door.
And they sent him out the door.
He lost his CEO (executive management) job (deservedly)
His mouth, his risks, his unethical behavior, his illegal behavior, the press, the robot cars (its a frcking taxi company not google), the unethical/illegal games with financial reporting, etc means he should have been shown the door much sooner.

But, he is the largest owner. He owns 10%, free and clear.
Kicking him off of the Board is saying that his 10% has lost its voting rights.
People who start companies lose control of them all the time.
As he let in investors, he rigged it so that he had board control.
All the investors agreed to this.

What Benchmark is trying to do, is take his 10% ownership and leave it without a voice.
Imagine you own 10% of a business that you began.
Yes, you were an incompetent manager, but you grew your 1 restaurant into a 1000 (simply because it sold food through in your telephone menu and all the hip kids liked it).
Now you needed money to do this and you sold bits and pieces here there and everywhere.
But, you kept control as part of the agreement to those sales and still own 10%.
You ended up fired as manager because you managed the 1000 restaurants poorly. Many of the other owners said enough.
But you still own 10% and rights to a seat on the board and an agreement to appoint 2 other seats with people you trust.

Benchmark, is trying to take your right to vote your own shares away from you.
You become a stockholder (owner) without a vote. 
And Benchmark is trying to do this with a lawsuit that says "gender discrimination while CEO" is the reason a court should order your vote not to count.
Really?
Benchmark knew every unethical thing he did. And their 13% ownership thinks it can strip his rights to his property away.


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## Brooklyn (Jul 29, 2014)

Cigars said:


> I do not disagree with "wanting him out the door".
> As a driver, I wanted him out the door.
> And he went, 1 month too late (for me as a driver). I found the May 22nd contract that released us from a % disgusting. I found that at about the same time, customer service began denying all driver requests for legitimate shorts and expenses. I used to receive some satisfaction when my mileage was short or tolls were short, until customer service changed one month before he was fired.
> 
> ...


You have a point but crazier shit has happened.

End of the day he ****ed up.


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## dirtylee (Sep 2, 2015)

TBH, Benchmark problably doesn't care that much about Kalanicks morals. He did make them Billions in valuations. 

They want an IPO so they can cash it out{before the next depression hits}. Kinda like the bank refusing to give you money out of your savings acct. Tantrums get thrown C-level suite style.


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## Mars Troll Number 4 (Oct 30, 2015)

dirtylee said:


> TBH, Benchmark problably doesn't care that much about Kalanicks morals. He did make them Billions in valuations.
> 
> They want an IPO so they can cash it out{before the next depression hits}. Kinda like the bank refusing to give you money out of your savings acct. Tantrums get thrown C-level suite style.


Well this could do exactly what benchmark wants then, cashing them out of the company...


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## Jesusdrivesuber (Jan 5, 2017)

Good, I hope this works and he stops moving things up from the shadows.

Can't they simply appoint him as "expansion chief" or some shit and give him all the freedom to keep expanding while limiting his power to butt into the management of the company?

His only problem is management, he does great violating laws in other places for the sake of expanding the company.


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## Carblar (Sep 1, 2016)

Both sides are pricks.


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## Mars Troll Number 4 (Oct 30, 2015)

I want travis to take the helm back.

"Set course for the Iceburg, fullspeed ahead, get those idiots out of here, ditch them in the lifeboats we don't need those traitors..."


I'd love it if TK blew all his money buying up company stock then have the company go belly up from lawsuit damages...


That's the fate worthy of TK, 

Getting obscenely wealthy and then losing it all.


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## TwoFiddyMile (Mar 13, 2015)

Mears Troll Number 4 said:


> I want travis to take the helm back.
> 
> "Set course for the Iceburg, fullspeed ahead, get those idiots out of here, ditch them in the lifeboats we don't need those traitors..."
> 
> ...


Due to his pride and ego.


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## Mars Troll Number 4 (Oct 30, 2015)

TwoFiddyMile said:


> Due to his pride and ego.


Yup... pride is a vicious enemy...

Honestly i think that TK taking back uber will hasten it's collapse.

So that's what i want to see happen.










Burn baby burn...

Hopefully with uber gone Lyft can jack up their prices take 1/2 of uber's market share and let the other unprofitible half vanish into the void from whence it came.


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## Icecool (Feb 8, 2016)

JimKE said:


> The latest news on this lawsuit is the other investors are trying to force Benchmark to sell their shares and leave the board. They're demanding that Benchmark sell at least 75% of the Uber stock they own and give up their seat on the Board of Directors.
> 
> "Benchmark's tactics are "*ethically dubious* and, critically, value-destructive rather than value enhancing," the investors wrote in the email."
> 
> http://www.reuters.com/article/us-uber-lawsuit-idUSKBN1AR2BD


This is exactly what I was thinking . Tell the benchmark idiots to sell all their share and Get the fxxxx out of the company . Uber need travis but uber don't need benchmark. I am sure travis have them lots of Returns on their initial capital already . If I was travis I would deflate the share prices to the lowest as possible and get other investor to force benchmark to sell their shares at a cheap prices .



TwoFiddyMile said:


> Dear Jesus I pray heartily for the quicker death of Uber I'm sorry I've been running with the devil but you were a Jew once too amen


sorry to say this bro. But not even Jesus can help you with this one . When are you going accept the fact that uber is here to stay for good . The taxis are history . The sooner you accept this the more happier and less frustrate you'll be .


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## TwoFiddyMile (Mar 13, 2015)

Icecool said:


> This is exactly what I was thinking . Tell the benchmark idiots to sell all their share and Get the fxxxx out of the company . Uber need travis but uber don't need benchmark. I am sure travis have them lots of Returns on their initial capital already . If I was travis I would deflate the share prices to the lowest as possible and get other investor to force benchmark to sell their shares at a cheap prices .
> 
> sorry to say this bro. But not even Jesus can help you with this one . When are you going accept the fact that uber is here to stay for good . The taxis are history . The sooner you accept this the more happier and less frustrate you'll be .


Say this three times every hour:
"Denial is not just a river in Egypt".
Wow you are delusional.
Uber has no executive ops board. Their valuation is cut near in half.
They are having a war for control with their ex CEO. They just lost $360,000,000 on the Xchange lease program. 
Coincidentally, their lease program in Singapore is literally burning. India is going down in flames due to Didi investing in Ola.

I could go on and on (and on) but these are just the news stories THIS MONTH.
Plus I'm firing on three cylinders due to having played a gig last night so I'm not 100% cogent.

The Uber ship is sinking. Grab a life jacket or learn to swim.


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## Icecool (Feb 8, 2016)

TwoFiddyMile said:


> Say this three times every hour:
> "Denial is not just a river in Egypt".
> Wow you are delusional.
> Uber has no executive ops board. Their valuation is cut near in half.
> ...


Ok it is good to have hopes . But really uber is not going to sinking even if it dose there are other investor or companies will take overs . What happen in Singapore and India . Uber don't care it has no effort to uber . It's only a small market . I'm not sure what this lease program is but why uber need it anyways . Uber lost money is becuaee they spend alot if their money on expansion of their business research . It I were you Iwould stop thinking that one day uber will go away .


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## Roadrage Ranger (Nov 7, 2015)

Icecool said:


> Ok it is good to have hopes . But really uber is not going to sinking even if it dose there are other investor or companies will take overs . What happen in Singapore and India . Uber don't care it has no effort to uber . It's only a small market . I'm not sure what this lease program is but why uber need it anyways . Uber lost money is becuaee they spend alot if their money on expansion of their business research . It I were you Iwould stop thinking that one day uber will go away .


The big stinking 800 pound gorilla in the room is that Uber has yet to show a credible path to profitability. 
They've been losing money hand over fist for about 8 years. That's why they haven't yet, nor are they even close to issuing and IPO for Wall Street funding. When you issue an IPO, all your books are open to public inspection, and that's the last thing Kalanick wants


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## Icecool (Feb 8, 2016)

Roadrage Ranger said:


> The big stinking 800 pound gorilla in the room is that Uber has yet to show a credible path to profitability.
> They've been losing money hand over fist for about 8 years. That's why they haven't yet, nor are they even close to issuing and IPO for Wall Street funding. When you issue an IPO, all your books are open to public inspection, and that's the last thing Kalanick wants


Yes but have you really think about how uber can lose money . They only provide the uber app and take 20 to 25% of the fare plus booking fees , they pay no taxes . As in any in any business when start up they need to spend a lot of money on marketing, research and development. Travis might have too much money on the china market and the self driving cars


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## Mars Troll Number 4 (Oct 30, 2015)

Icecool said:


> Yes but have you really think about how uber can lose money . They only provide the uber app and take 20 to 25% of the fare plus booking fees , they pay no taxes . As in any in any business when start up they need to spend a lot of money on marketing, research and development. Travis might have too much money on the china market and the self driving cars


Uber losing money is a matter of public record...

LOL..

It's very illogical for them to be losing money but they are.


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## TwoFiddyMile (Mar 13, 2015)

Roadrage Ranger said:


> The big stinking 800 pound gorilla in the room is that Uber has yet to show a credible path to profitability.
> They've been losing money hand over fist for about 8 years. That's why they haven't yet, nor are they even close to issuing and IPO for Wall Street funding. When you issue an IPO, all your books are open to public inspection, and that's the last thing Kalanick wants


India is their second or third largest market. I can't recall which was bigger, India or Brazil. One is second and the other is third.

You should really do 43 seconds of Google research before posting.
I'm not only kinda smart, I'm very knowledgeable


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## tohunt4me (Nov 23, 2015)

Mears Troll Number 4 said:


> IF i was TK i'd have disappeared to the Caribbean for a few years.


He should.
Enjoy life while he is young.


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## Roadrage Ranger (Nov 7, 2015)

TwoFiddyMile said:


> India is their second or third largest market. I can't recall which was bigger, India or Brazil. One is second and the other is third.
> 
> You should really do 43 seconds of Google research before posting.
> I'm not only kinda smart, I'm very knowledgeable


Oh, I do my Google searching. The weird thing is, the bigger Uber gets, the more money they lose. 
If you're not doing it already, it would be a good idea to have Lyft in your back pocket. And no, I'm not a shill for Lyft. They have problems too, but they seem to be much better positioned to actually make it in the long run.


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## Icecool (Feb 8, 2016)

TwoFiddyMile said:


> India is their second or third largest market. I can't recall which was bigger, India or Brazil. One is second and the other is third.
> 
> You should really do 43 seconds of Google research before posting.
> I'm not only kinda smart, I'm very knowledgeable


your right inida is uber second biggest market but that dose not mean its profitable india labour are too cheap . Uber should only concern about the profitable country like australia. Uber Australia's 2016 revenue has doubled to $36 million. The Silicon Valley giant's local revenue, according to its latest accounts, increased from $18 million last financial year. yes but i'm sorry uber might close the india operation as it too dodgy to do any business over there but this never happen in the US or Australia . how long do you think uber will collapse ?? uber can always increase it fares to make a profit , but they only lose money because they paid too much on markerting like driver referal ,free rides, the self driving car reasearch ect . the uber name is well known world wide they dont need to do that anymore .



Mears Troll Number 4 said:


> Uber losing money is a matter of public record...
> 
> LOL..
> 
> It's very illogical for them to be losing money but they are.


Put it this way if uber are to be floated on the market or the benchmarket investor want to sell their share . there will be alot demand for it . Logically why do you think uber is losing money . just like in any bussinese you need money and time to grow . Some of the news you read about uber are false as they 're from the taxi lobbies group as they want see uber fail . but uber is here to stay . The taxi will die before ubers dose


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## TwoFiddyMile (Mar 13, 2015)

Uber has never made a profit. Almost 3 billion loss last year, probably similar this year.
China is gone. Brazil and India are fighting. 
It's a good year to hate Uber.


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## Icecool (Feb 8, 2016)

TwoFiddyMile said:


> Uber has never made a profit. Almost 3 billion loss last year, probably similar this year.
> China is gone. Brazil and India are fighting.
> It's a good year to hate Uber.


I though you were knowledge . uber sold its china operations to Didi china for $35bn https://www.google.com.au/amp/www.t...ber-china-to-merge-with-local-rival-didi/amp/
You live in the U.S I guess . India and Brazil are thirds country uber should never done businesses in these countries anyways . Think about this uber take 25% of the fare plus booking fees . they only provide the app and support .


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## TwoFiddyMile (Mar 13, 2015)

Icecool said:


> I though you were knowledge . uber sold its china operations to Didi china for $35bn https://www.google.com.au/amp/www.t...ber-china-to-merge-with-local-rival-didi/amp/
> You live in the U.S I guess . India and Brazil are thirds country uber should never done businesses in these countries anyways . Think about this uber take 25% of the fare plus booking fees . they only provide the app and support .


They did not receive 35 billion from Didi. It was (I believe) 2 billion in cash and a 17.7% stake in what used to be their own company.
Sorry the first article you could find was crap and written by tards, it's not entirely your fault


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## phillipzx3 (May 26, 2015)

jonhjax said:


> none of these owners of uber care about the drivers. haven't you figured that out yet? If uber had rates high enough to make a profit and keep their drivers happy their rates would've been about the same as taxis, so they wouldn't have grown nearly as fast.
> taxis have been creating their own apps too, in case you haven't noticed.


Some of us had them (apps) a couple years before Uber. The difference is we didn't have a few million laying around to subsidise riders with free trips, or offer drivers bonuses for finding others to sign on. Without placing caps on the number of drivers, raising rates won't do a thing. That is unless all you're trying to do is attract more drivers.



TwoFiddyMile said:


> Lol. Riders are loyal to the artificially deflated prices.
> Double the rate, Watch my business return.


Every time Uber surges 2 (or higher) we get slammed. Why is it Uber drivers brag of how little they are willing to working for?

Taxi driver: "I make $2.50 a mile to cover expenses and earn a living.

Uber driver: "Sucker. I work for. 95 cents a mile and I'm proud I put 3 times the mileage on my car to earn the same as a cab driver."

That about right?

And now that it's obvious Uber drivers act no different than cab drivers, they're complaining they don't make enough money?


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## Icecool (Feb 8, 2016)

TwoFiddyMile said:


> They did not receive 35 billion from Didi. It was (I believe) 2 billion in cash and a 17.7% stake in what used to be their own company.
> Sorry the first article you could find was crap and written by tards, it's not entirely your fault


But at the ends uber didn't lost money in china . Don't care whatever the papers or whatever anyone say uber is still operating world wide and I'm driving uber, making money that the fact you can't change. Weather uber will collapse in the future no one know if it dose you get another shareriding company like didi will take over so taxi are still history


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## roadman (Nov 14, 2016)

TwoFiddyMile said:


> Of course. You guys are more directly abused than me.
> Think about this:
> Yesterday I was super depressed and angry because I hung out at two hotels for 4 hours or so.
> I saw 30 to 50 Uber transactions.
> ...


how much is your weekly cab rental payment? If you work 40 hours and sat for 4 earning zero, it would appear you lost 10% of the weekly payment.


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## somedriverguy (Sep 6, 2016)

Mears Troll Number 4 said:


> Yup... pride is a vicious enemy...
> 
> Honestly i think that TK taking back uber will hasten it's collapse.
> 
> ...


With UBER gone Lyft can raise the rates and then give NONE to the drivers. We still need there to be valid competition for this to work in our favor. I would be happiest if it wasn't UBER.


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## TwoFiddyMile (Mar 13, 2015)

roadman said:


> how much is your weekly cab rental payment? If you work 40 hours and sat for 4 earning zero, it would appear you lost 10% of the weekly payment.


I own my cab. They don't sell medallions in Charlotte, anyone with a late model 4 door car can own a cab.


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## Cigars (Dec 8, 2016)

Bloomberg rips both TK and Benchmark new holes.

https://www.bloomberg.com/news/arti...-divided-into-two-factions-they-re-both-wrong

"The basic point [of the suit] is that Benchmark voted to give Kalanick more board seats because it thought he was a good CEO, but that he was secretly concealing the truth, which is that he was a bad CEO," Levine wrote. "More likely, Kalanick failed to tell the board that he was a bad CEO, not as part of a devious fraud, but because he genuinely-and with some justification!-thought he was a good CEO."

More importantly, I'd argue, Benchmark is being disingenuous when it implies there was no reason to question Kalanick's leadership abilities at the time it voted to give him the board seats. The VC firm's lawsuit cites a half-dozen news articles that speak to Kalanick's leadership failures, but not a single one that was published before this year. That's highly misleading.

For years, Uber had employed questionable tactics in battles with regulators and applications of user data. Benchmark partner Bill Gurley, who sat on the board at the time, was almost certainly aware of "God view," which attracted a $20,000 fine in New York State as well as controversy in the press. That scandal took on a more sinister tone in late 2014, when one of Kalanick's top deputies, Emil Michael, suggested at a dinner with journalists that Uber might seek to publishembarrassing information about the personal lives of Uber critics.

When I was writing a story about Kalanick in 2015, Gurley told me the CEO's past missteps made him similar to Mark Zuckerberg and Bill Gates. These were, he said, "young entrepreneurs who were allowed to kind of say anything and do anything," and Kalanick had matured. (Gurley didn't respond to a request for comment for this column.) Today, of course, Gurley's take seems like a terrifically bad misjudgment, at best.

greed and opportunism seem to be at play, too, and this scramble for control makes clear just how badly Uber needs something else: Outsiders who aren't tainted by its past.


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## tohunt4me (Nov 23, 2015)

TwoFiddyMile said:


> Say this three times every hour:
> "Denial is not just a river in Egypt".
> Wow you are delusional.
> Uber has no executive ops board. Their valuation is cut near in half.
> ...


Whak a mole management.

REACTIVE
NOT
PROACTIVE.


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## Cigars (Dec 8, 2016)

This has a very simple solution.

Both sides write a number on a piece of paper.
$1, to $100,000,000,000

The higher number "winner", agrees to buy the lower number "loser" out completely and with cash.
Someone gets $6 Billion or so to go to an island and buy a new helicopter and yacht each and every year for the rest of their lives. And that would be the "loser."
The "winner" gets board control and 20%+ of a company that has never made a $1.

If both sides truly believe their shares to be worth as much as they claim, then the loser will be one of the wealthiest humans to ever walk the earth.


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## corniilius (Jan 27, 2017)

Ooh, this is going to be good.


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## dirtylee (Sep 2, 2015)

So when will drivers be able to buy shares in uber.


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## somedriverguy (Sep 6, 2016)

When it goes public. We only provide the machines that do the actual work and perform the actual work. Shares are only for people who live in Ivory Towers until the mystical IPO releases them.


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## Tr4vis Ka1anick (Oct 2, 2016)

WaveRunner1 said:


> Lord Travis was making a comeback or so he thought he was after he was dethroned as CEO. Now, cornered, he may resort to desperate tactics. You think Kim Jong-un is unstable and a threat? Wait until you see what Lord Travis has in store.


That's right, Buwahahahaha.

This song has been my cathartic burning revenge anthem.





.

*Benchmark Capital are a bunch 'o bozos!*


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## itsablackmarket (May 12, 2015)

WaveRunner1 said:


> Apparently Benchmark wants him off the board entirely. Can you imagine co-founding a company and being CEO and quickly finding yourself stripped of any power in the company within just a few months? I almost feel bad for Travis but not really.


I don't feel bad for him at all. Why should I? Did he feel bad for drivers? No, he didn't. He's an elitist coward and this is nothing less than what he deserves.


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## ChortlingCrison (Mar 30, 2016)

Anyone suing Travis should take a number.



TwoFiddyMile said:


> Uber has never made a profit. Almost 3 billion loss last year, probably similar this year.
> China is gone. Brazil and India are fighting.
> It's a good year to hate Uber.


They probably could have made a profit a couple of years ago if they would have left the rates alone, and not have to keep spending money on recruiting new drivers.


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## roadman (Nov 14, 2016)

ChortlingCrison said:


> Anyone suing Travis should take a number.
> 
> They probably could have made a profit a couple of years ago if they would have left the rates alone, and not have to keep spending money on recruiting new drivers.


But no they had to get greedy and go for world domination instead.


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