# Travis Kalanick Exercises Right to Appoint Two Uber Directors



## Jo3030 (Jan 2, 2016)

Uber Technologies Inc.'s ousted chief executive, Travis Kalanick, is appointing two new directors to the ride-hailing firm's board in a surprise move that would bolster his clout as the company faces several critical decisions including a possible multibillion-dollar investment from SoftBank Group Corp.

Mr. Kalanick appointed former Xerox Corp. CEO and Chairwoman Ursula Burns and former CIT Group Inc. CEO and Chairman John Thain as the 10th and 11th Uber directors, effective Friday, according to a statement from him to The Wall Street Journal.

The Uber co-founder, who resigned as CEO in June, is making the appointments without consulting the rest of the board. He was granted control of three board seats as part of $3.5 billion investment from a Saudi wealth fund in 2016.

The appointments could serve as a defiant effort to push back against one of Uber's largest investors, Benchmark Capital, which is suing Mr. Kalanick over control of those two seats. The venture firm, which also holds a board seat and led an investor coup to push Mr. Kalanick out, has proposed a new voting structure for shareholders allowing them to vote based on the size of their stake, rather than the current system which rewards the earliest investors with greater voting power.

"I am appointing these seats now in light of a recent board proposal to dramatically restructure the board and significantly alter the company's voting rights," Mr. Kalanick said in the statement. "It is therefore essential that the full board be in place for proper deliberation to occur, especially with such experienced board members as Ursula and John."

Benchmark sued Mr. Kalanick earlier this year to return to board control the three seats he oversees, arguing he reneged on an agreement to relinquish them when he stepped down in June. Mr. Kalanick was pushed out by a group of investors who signed a resignation letter for him drafted by Benchmark.

*https://www.wsj.com/articles/travis...ppoint-two-uber-directors-1506729037?mod=e2tw*


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## Brooklyn (Jul 29, 2014)

Shit just hit the fan. 

About to be an all out war in the office. 


Wasn’t one of the stipulations to the SoftBank deal that Kalanick can’t get more board seats and etc? Looks like that deal may be off the table now.


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## Jo3030 (Jan 2, 2016)

Looks like Travis is on a rampage


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## BurgerTiime (Jun 22, 2015)

This guy is the ture meaning of "prick"
This is also worse case scenario for the new CEO trying to right the London Ship. #notgood


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## Fargle (May 28, 2017)

Is anyone else reminded of Martin "Pharma-Bro" Schkreli? The similarity in sheer arrogance and narcicism is striking.


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## Jo3030 (Jan 2, 2016)

Dude is above the law and above reproach.


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## KMANDERSON (Jul 19, 2015)

Jo3030 said:


> Dude is above the law and above reproach.


It will be interesting to see what the other board members do.


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## PMartino (Mar 18, 2016)

I heard he actually appointed only one director.

But then on the way to the boardroom a ping came in to pick up another one.


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## TwoFiddyMile (Mar 13, 2015)

Can't be good:
In Power Move at Uber, Travis Kalanick Appoints 2 to Board

http://flip.it/vurs6F


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

Seriously TK...

What the crap is wrong with this guy?

If i was TK i'd put a dog on the board of Directors just for laughs if i was given that power... Then the board would get a laugh out of it and i'd have an excuse to take my dog to work...


Seriously... this guy needs to take a hint and GTFO already.


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## Fargle (May 28, 2017)

This might be fun... Everyone send a message to support and tell them to never pair him with you.


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## Ride-Share-Risk-Manager (Mar 16, 2017)

Mears Troll Number 4 said:


> Seriously TK...
> 
> What the crap is wrong with this guy?
> 
> ...


But is it a service dog ? If they refuse to meet as a Board of Directors with a service dog they should be terminated immediately.


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## Mista T (Aug 16, 2017)

TK is simply confirming to the world that Benchmark was right to try to take steps to reign in this a-hole.


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## ABC123DEF (Jun 9, 2015)

What a slitshow.


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## Trump Economics (Jul 29, 2015)

In a letter addressed to his staff, he writes:

Team -

I wanted to update you on some disappointing news from today. Travis appointed two new members to Uber's Board without discussing it with me or the Board of Directors more broadly. Anyone would tell you that this is highly unusual.

If your family or friends ask you about it, here is our press statement:

"The appointments of Ms. Burns and Mr. Thain to Uber's Board of Directors came as a complete surprise to Uber and its Board. That is precisely why we are working to put in place world-class governance to ensure that we are building a company every employee and shareholder can be proud of."

Just know that the most important work here is the hard work you're doing on behalf of our Company. Keep focused, keep together, and keep going.

Full article here:

https://www.recode.net/2017/9/30/16391392/dara-khosrowshahis-letter-uber-staff


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## ABC123DEF (Jun 9, 2015)

Nothing to see here...just Travis being his usual unprofessional self. This company still very much has the stench of the snake slithering around in the grass.


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## Ride-Share-Risk-Manager (Mar 16, 2017)

Mista T said:


> TK is simply confirming to the world that Benchmark was right to try to take steps to reign in this a-hole.


This is going to get uglier I think before it gets better. But we can rely on the VC firms to do what they need to do to protect their investment and future IPO gains. I don't think Uber will be able to function until they show TK the door and guarantee investors that he is not coming back.


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## JimKE (Oct 28, 2016)

Brooklyn said:


> Wasn't one of the stipulations to the SoftBank deal that Kalanick can't get more board seats and etc? Looks like that deal may be off the table now.


Yes and no.

One of the things the Board agreed to when they essentially fired TK was that he had the authority to appoint two additional directors. Normal courtesy would be to run the names by the Board and CEO, but TK is not known for courtesy. But he had every right to appoint the two directors.

And, not for nothing, they both have sterling big-time management cred. I don't think they are the kind of execs who will agree to anything stupid just because TK appointed them.

The proposal associated with the SoftBank deal not only removes TK from the board member selection process, it gives that power to Dara in kind of a roundabout way if three specific board positions become vacant. More importantly the SoftBank proposal strips TK of his massive voting power and mandates that the company be taken public within 2-2 1/2 years. That's what TK is fighting.

This is a dramatic development, but these things have a way of sorting themselves out in time. I suspect the outcome will be the seating of TK's two appointees (both very good people) as a part of a deal for most of the SoftBank restructuring.


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## WaveRunner1 (Jun 11, 2017)

What Uber desperately needs is a total purge of entire management and board. And I mean every department including North America, driver relations, app development, etc.


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## Jesusdrivesuber (Jan 5, 2017)

Swamp draining starts by getting rid of the swamp thing.


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## tohunt4me (Nov 23, 2015)

Jo3030 said:


> Uber Technologies Inc.'s ousted chief executive, Travis Kalanick, is appointing two new directors to the ride-hailing firm's board in a surprise move that would bolster his clout as the company faces several critical decisions including a possible multibillion-dollar investment from SoftBank Group Corp.
> 
> Mr. Kalanick appointed former Xerox Corp. CEO and Chairwoman Ursula Burns and former CIT Group Inc. CEO and Chairman John Thain as the 10th and 11th Uber directors, effective Friday, according to a statement from him to The Wall Street Journal.
> 
> ...


GOOD !
Now boot Benchmark out of there !



Jesusdrivesuber said:


> Swamp draining starts by getting rid of the swamp thing.


The " Swamp Thing KNOWS how to run a Swamp !



JimKE said:


> Yes and no.
> 
> One of the things the Board agreed to when they essentially fired TK was that he had the authority to appoint two additional directors. Normal courtesy would be to run the names by the Board and CEO, but TK is not known for courtesy. But he had every right to appoint the two directors.
> 
> ...


You can bet the C.E.O. knows what Travis is thinking.
He will use input from All.



Jo3030 said:


> Dude is above the law and above reproach.


Travis didnt get Uber booted out of London.


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## KMANDERSON (Jul 19, 2015)

tohunt4me said:


> GOOD !
> Now boot Benchmark out of there !
> 
> The " Swamp Thing KNOWS how to run a Swamp !
> ...


Stop defending travis, hopefully benchmark wins their arbitration against travis


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## Michael1230nj (Jun 23, 2017)

After the Detination Filter Fiasco who cares. Travis-Dara it's the Same result for the Driver low wages. A Pox on all of them.


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## Tr4vis Ka1anick (Oct 2, 2016)

Fargle said:


> Is anyone else reminded of Martin "Pharma-Bro" Schkreli? The similarity in sheer arrogance and narcicism is striking.


Pshaw! Martin is an anorexic greasy dweb. Besides that guy is in jail.

Me?

_Ain't goin down like that.

_


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## Rick N. (Mar 2, 2016)

Now would be a great time for all the drivers with balls to go and #deleteuber


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## Michael1230nj (Jun 23, 2017)

Rick N. said:


> Now would be a great time for all the drivers with balls to go and #deleteuber


It's not Lack of Balls that keep Drivers working it's Lack if Money


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## SurgeWarrior (Jun 18, 2016)

Jo3030 said:


> Uber Technologies Inc.'s ousted chief executive, Travis Kalanick, is appointing two new directors to the ride-hailing firm's board in a surprise move that would bolster his clout as the company faces several critical decisions including a possible multibillion-dollar investment from SoftBank Group Corp.
> 
> Mr. Kalanick appointed former Xerox Corp. CEO and Chairwoman Ursula Burns and former CIT Group Inc. CEO and Chairman John Thain as the 10th and 11th Uber directors, effective Friday, according to a statement from him to The Wall Street Journal.
> 
> ...


Until they raise the fares...I couldnt care less who is on the board or what goes on at Uber HQ!


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## Friendly Jack (Nov 17, 2015)

Travis probably wants the board to rescind tipping in the app.


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## Tr4vis Ka1anick (Oct 2, 2016)

Friendly Jack said:


> Travis probably wants the board to rescind tipping in the app.


No, no, no. I want 30% of the tip to go directly to my off shore account in the Turks and Caicos Islands. From there it disappears.


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## ABC123DEF (Jun 9, 2015)

Tr4vis Ka1anick said:


> No, no, no. I want 30% of the tip to go directly to my off shore account in the Turks and Caicos Islands. From there it disappears.


Oh, Travis. You scoundrel you!


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## Tihstae (Jan 31, 2017)

Tr4vis Ka1anick said:


> No, no, no. I want 30% of the tip to go directly to my off shore account in the Turks and Caicos Islands. From there it disappears.


Only 30%? What have you done with the real TK who would not take anything less than 100%?


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## Uberk5487 (Apr 4, 2017)

Notice how now that he's back we lost a great feature.....the unlimited destinations filter.....it sucks going back to uber dictating our destinations.....im right back to $3-7 trips from the airport....when with the filter all my trips were $15-25.....


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## Lowestformofwit (Sep 2, 2016)

Is this the next move of a guy making such a nuisance of himself on the Board that they'll have no option but to buy him out, if they want to move forward?


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## Michael - Cleveland (Jan 1, 2015)

https://www.nytimes.com/2017/09/30/technology/uber-travis-kalanick-dara-khosrowshahi.html
*Inside the Latest Power Struggle at Uber*
New York Times 9/30, 2017

SAN FRANCISCO - The phone calls began late Friday among Uber's new chief executive, Dara Khosrowshahi, and the ride-hailing company's executives, as well as board members and a raft of lawyers. They were facing an emergency.

The problem was that Travis Kalanick, Uber's former chief executive and a board member, had appointed two new directors - Ursula Burns, the former chief executive of Xerox, and John Thain, the former chief of Merrill Lynch - to the privately held company without informing them. The moves, which pushed the nine-member board to 11 people, gave Mr. Kalanick new potential allies on major decisions at Uber.

Mr. Kalanick's actions were "disappointing," Mr. Khosrowshahi wrote on Friday in a letter to employees that was obtained by The New York Times. "Anyone would tell you that this is highly unusual."

The trigger for Mr. Kalanick's move - one made possible by a board vote last year giving him control of three seats - was a proposal that Mr. Khosrowshahi and the investment bank Goldman Sachs, an Uber shareholder, brought to the board on Thursday. The proposal, which is set to be discussed by directors on Tuesday, includes measures that would shift the power on Uber's board by reducing Mr. Kalanick's voting clout, expanding Mr. Khosrowshahi's powers and imposing a 2019 deadline on the company to go public, according to three people with knowledge of the proposal who asked to remain anonymous because they were not authorized to speak publicly. Parts of the proposal were also read to The Times.

The power shift proposed by Mr. Khosrowshahi and Goldman Sachs spurred Mr. Kalanick to act to reassert control, according to a statement Mr. Kalanick issued on Friday. That has now plunged Uber into another period of uncertainty and a corporate governance crisis, at a time when the company had been trying to move beyond its controversial past with a new chief executive on board.

Uber is "attempting to copy some things that characterize good governance at a public company," said Charles M. Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware. But, he added, parts of the proposal "typically show up when you have poor management and are generally opposed by public shareholders."

The governance plan that touched off the latest politicking was created by Mr. Khosrowshahi and Goldman Sachs as part of a bigger effort to finalize a deal to sell billions of dollars of Uber stock to the Japanese conglomerate SoftBank, according to a person briefed on the proposal.

That deal depends on the participation of some early Uber investors, who have said they will not sell their shares to SoftBank unless Uber's governance structure changes and Mr. Kalanick is barred from returning as chief executive. Those investors include the venture capital firm Benchmark, which put money into Uber early on and has more recently been warring with Mr. Kalanick over his control of the company.

Here are some of the specifics of the proposal that Mr. Khosrowshahi and Goldman Sachs put before the board on Thursday, including details that are in flux, according to the three people briefed on the proposal and the parts of the plan that were read to The Times. Some parts of the proposal were earlier reportedby Recode.

■ According to the proposal, if the Uber board seats currently held by three directors - Ryan Graves, Arianna Huffington or Wan Ling Martello - are vacated, Mr. Khosrowshahi gains the power to nominate directors for those spots. The new directors must be approved by a majority of the board and by a majority of all shareholders.

■ The plan also includes a proposal to remove the outsize voting power carried in two categories of Uber stock, the Class B common shares and the preferred shares. Class B common shares currently offer their holders 10 to 1 voting power, for example. But under the proposal, that would change to one vote per share. The change would diminish the power of some current shareholders, like Mr. Kalanick, as well as that of Benchmark and other venture investors.

■ The proposal also suggests that Uber elect only a few board members each year, in effect setting a cap. That would make it hard for an activist shareholder to take over the board.

■ One part of the proposal takes direct aim at Mr. Kalanick. The measure states that any person who has previously been an officer of Uber can return as chief executive only if he or she can get the approval of two-thirds of the board and 66.7 percent of all shareholders.

■ The proposed plan also imposes a 2019 deadline for Uber to go public. To ensure that the public offering happens at that time, there is a provision that if more than one third, but less than one half, of the board wants an I.P.O., they can add directors until they have the control over the board they need to make the public offering happen. This provision may be dropped.

■ The plan does allow Mr. Kalanick to keep his board seat, subject to the approval of Mr. Khosrowshahi. Of the two other board seats that Mr. Kalanick controls, one would be given to SoftBank while the other would be filled by the chief executive of a Fortune 100 company, if approved by the majority of the board and a majority vote of all shareholders. If for some reason Mr. Khosrowshahi rejected the proposed board member three times, he could designate someone for the third seat himself.

For now, most of Uber's directors are reluctant to oppose the new board appointments of Mr. Thain and Ms. Burns made by Mr. Kalanick, according to two people who were briefed on the calls. Ms. Burns, the first African-American woman to helm a Fortune 500 company, and Mr. Thain, who also ran the New York Stock Exchange, could potentially help Uber address issues around company culture and diversity, and better prepare it to go public.

To employees, Mr. Khosrowshahi wrote: "Just know that the most important work here is the hard work you're doing on behalf of our company. Keep focused, keep together, and keep going."


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## goneubering (Aug 17, 2017)

It would be better for Uber's health to figure out a way to retire TK in my opinion.


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## Uberfunitis (Oct 21, 2016)

It would be better for Uber to bring TK back especially now. TK was able to bring Uber forward despite local regulators pushing back with few concessions. Now it seems that Uber is going to play nice and that means Uber turning into an extremely well regulated business and no different than a taxi. Hell in some markets they will probably cap the number of ride share drivers I guess that is good if you are one of the ones that gets to stay but bad for you if you are one that is let go.


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## goneubering (Aug 17, 2017)

Uberfunitis said:


> It would be better for Uber to bring TK back especially now. TK was able to bring Uber forward despite local regulators pushing back with few concessions. Now it seems that Uber is going to play nice and that means Uber turning into an extremely well regulated business and no different than a taxi. Hell in some markets they will probably cap the number of ride share drivers I guess that is good if you are one of the ones that gets to stay but bad for you if you are one that is let go.


Good try!! Everyone will notice you used nice and TK in your argument.


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## Retired Senior (Sep 12, 2016)

If I was Travis, the co-creator of a globally disruptive company, I would want to hold on to some power. Arianna Huffington gob-smacked him right after he lost his mother. Travis may be an elitist prick, and he obviously thinks he is above the law, but .... UBER is his baby, not ours. We are only fleas on this great dog of a corporation. If it goes down, I will simply move on. Hopefully there will always be an living organism that a parasitic flea can feed upon.

This should not be taken to mean that I would refuse a higher pay rate! You obviously have won the ride share biz Travis, so please, increase the passenger rates and let the fleas feast!


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## PrestonT (Feb 15, 2017)

I have no love lost for Travis, but the board is trying to dilute his influence over the company he founded, and he is using legal and contractual means to protect his power. I would expect anyone to do the same.


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## Brooklyn (Jul 29, 2014)

PrestonT said:


> I have no love lost for Travis, but the board is trying to dilute his influence over the company he founded, and he is using legal and contractual means to protect his power. I would expect anyone to do the same.


Maybe because he's made tons of decisions that left bad marks on the company?


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## Mista T (Aug 16, 2017)

TK is a petulant child, stereotype of the self absorbed entitled mentality that we all know and hate.

Based on his holdings he is worth $6-7 BILLION and if he would get out of the way it would be a lot higher.

The guy needs to go buy and island or something and just F off.


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## PrestonT (Feb 15, 2017)

Brooklyn said:


> Maybe because he's made tons of decisions that left bad marks on the company?


See what you have there is an orange, and what's in your quote of me is an apple. He's made really bad decisions. REALLY bad decisions. I never said he made great decisions. I said he is trying to maintain a hold on some semblance of power in the company he founded, and I would expect anyone to do this.



Mista T said:


> TK is a petulant child, stereotype of the self absorbed entitled mentality that we all know and hate.
> 
> Based on his holdings he is worth $6-7 BILLION and if he would get out of the way it would be a lot higher.
> 
> The guy needs to go buy and island or something and just F off.


Those holdings are of no liquid value currently, they are his interest in the company, along with probably a couple hundred million he's managed to draw out of it.


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## Brooklyn (Jul 29, 2014)

PrestonT said:


> See what you have there is an orange, and what's in your quote of me is an apple. He's made really bad decisions. REALLY bad decisions. I never said he made great decisions. I said he is trying to maintain a hold on some semblance of power in the company he founded, and I would expect anyone to do this.
> 
> Those holdings are of no liquid value currently, they are his interest in the company, along with probably a couple hundred million he's managed to draw out of it.


I understand that... but he brought this on his own shoulders. Now he has to fight to keep the company which he was brought into... he wasn't the founder of the company. He wasn't even the original CEO. I understand he wants to keep his power but too bad for him life doesn't work like that. Taking out all that VC money and running bad business moves he shoulda known something coulda went wrong. He got so infatuated about his valuation he gave away his power and board seats to investors. ****'em.


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## PrestonT (Feb 15, 2017)

Brooklyn said:


> I understand that... but he brought this on his own shoulders. Now he has to fight to keep the company which he was brought into... he wasn't the founder of the company. He wasn't even the original CEO. I understand he wants to keep his power but too bad for him life doesn't work like that. Taking out all that VC money and running bad business moves he shoulda known something coulda went wrong. He got so infatuated about his valuation he gave away his power and board seats to investors. &%[email protected]!*'em.


We are in complete agreement.


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## UberProphet? (Dec 24, 2014)

http://www.businessinsider.com/uber...nd-to-move-forward-with-softbank-deal-2017-10


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## JimKE (Oct 28, 2016)

JimKE said:


> Yes and no.
> 
> One of the things the Board agreed to when they essentially fired TK was that he had the authority to appoint two additional directors. Normal courtesy would be to run the names by the Board and CEO, but TK is not known for courtesy. But he had every right to appoint the two directors.
> 
> ...


Like I said...Resolved.


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## goneubering (Aug 17, 2017)

PrestonT said:


> I have no love lost for Travis, but the board is trying to dilute his influence over the company he founded, and he is using legal and contractual means to protect his power. I would expect anyone to do the same.


Of course.


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## chitown73 (Jul 18, 2017)

PrestonT said:


> I have no love lost for Travis, but the board is trying to dilute his influence over the company he founded, and he is using legal and contractual means to protect his power. I would expect anyone to do the same.


There's one MAJOR problem with that kind of thinking. He may have helped to co-found the company, with other people's money (the investors) so his responsibility is to the people who provided the funds, NOT his own greedy a**.


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## Rat (Mar 6, 2016)

tohunt4me said:


> GOOD !
> Now boot Benchmark out of there !
> 
> The " Swamp Thing KNOWS how to run a Swamp !
> ...


Actually, he did



Uberfunitis said:


> It would be better for Uber to bring TK back especially now. TK was able to bring Uber forward despite local regulators pushing back with few concessions. Now it seems that Uber is going to play nice and that means Uber turning into an extremely well regulated business and no different than a taxi. Hell in some markets they will probably cap the number of ride share drivers I guess that is good if you are one of the ones that gets to stay but bad for you if you are one that is let go.


The more drivers, the better the system works. They're not going to cap drivers

Uber brought onboard more board members and made all voting shares equal. Travis and his people are now a minority power.He pushed, they pushed back


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## Super (Nascar) Uberess (Mar 15, 2017)

Jo3030 said:


> Uber Technologies Inc.'s ousted chief executive, Travis Kalanick, is appointing two new directors to the ride-hailing firm's board in a
> surprise move that would bolster his clout as the company faces several critical decisions including a possible multibillion-dollar investment from SoftBank Group Corp.
> 
> Mr. Kalanick appointed former Xerox Corp. CEO and Chairwoman Ursula Burns and former CIT Group Inc. CEO and Chairman John Thain as the 10th and 11th Uber directors, effective Friday, according to a statement from him to The Wall Street Journal.
> ...


ALL I WANT IS A FLIPPIN MILEAGE RATE INCREASE IN NJ. IS THAT TOO MUCH TO ASK FOR????!!! ALL THIS MONEY SPENT ON LEGAL SHENNANIGANS AND POSTURING.... CAN'T WE JUST GET A FREAKIN MILEAGE INCREASE FOR CRISSAKE!!!!! WTF ALREADY!!!!!!!


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## tohunt4me (Nov 23, 2015)

Super (Nascar) Uberess said:


> ALL I WANT IS A FLIPPIN MILEAGE RATE INCREASE IN NJ. IS THAT TOO MUCH TO ASK FOR????!!! ALL THIS MONEY SPENT ON LEGAL SHENNANIGANS AND POSTURING.... CAN'T WE JUST GET A FREAKIN MILEAGE INCREASE FOR CRISSAKE!!!!! WTF ALREADY!!!!!!!


UNION


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## Uberfunitis (Oct 21, 2016)

chitown73 said:


> There's one MAJOR problem with that kind of thinking. He may have helped to co-found the company, with other people's money (the investors) so his responsibility is to the people who provided the funds, NOT his own greedy a**.


I actually disagree with this, I think if you are investing you are investing in the company in their vision and in what you believe they will do in the future. I dont think he really has any responsibility to those who invested with him other than to be honest in his intentions with the company. If they invested in what turns out to be a bad idea than that is on the investors.



Rat said:


> Actually, he did
> 
> The more drivers, the better the system works. They're not going to cap drivers
> 
> Uber brought onboard more board members and made all voting shares equal. Travis and his people are now a minority power.He pushed, they pushed back


You missed the part where I said that they are playing nice with regulators..... in some cities the local regulators seem to like to control things like the availability of taxies in the city for some reason. If the different cities get their way and get to regulate Uber as a transportation company I would very much think that they would limit the number of drivers if that is something that they do for taxies in their city. It is not Uber deciding to do that but Uber deciding/ being forced to follow local regulations.


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## chitown73 (Jul 18, 2017)

Uberfunitis said:


> I actually disagree with this, I think if you are investing you are investing in the company in their vision and in what you believe they will do in the future. I dont think he really has any responsibility to those who invested with him other than to be honest in his intentions with the company. If they invested in what turns out to be a bad idea than that is on the investors.
> 
> You missed the part where I said that they are playing nice with regulators..... in some cities the local regulators seem to like to control things like the availability of taxies in the city for some reason. If the different cities get their way and get to regulate Uber as a transportation company I would very much think that they would limit the number of drivers if that is something that they do for taxies in their city. It is not Uber deciding to do that but Uber deciding/ being forced to follow local regulations.


Ok so your saying his ONLY responsibility to the investors is to be honest with them in his intentions with the company and yet nothing he did was honest at all. Seriously the company has been investigated, caught and fined in multiple markets and countries for its illegal practices. And as the CEO Travis is responsible for their legal problems. Even Apple sent Uber a letter threatening to ban their app from its app store. Seriously... Uberfunitis what's your real name? I'm sure we'll find you listed on Uber's corporate website.


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## Uberfunitis (Oct 21, 2016)

chitown73 said:


> Ok so your saying his ONLY responsibility to the investors is to be honest with them in his intentions with the company and yet nothing he did was honest at all. Seriously the company has been investigated, caught and fined in multiple markets and countries for its illegal practices. And as the CEO Travis is responsible for their legal problems. Even Apple sent Uber a letter threatening to ban their app from its app store. Seriously... Uberfunitis what's your real name? I'm sure we'll find you listed on Uber's corporate website.


When you are a market disruptor you will ruffle some feathers and have people who are used to doing things one way and resistant to change lash out at you and use what power they have to try and stop you.


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## chitown73 (Jul 18, 2017)

Uberfunitis said:


> When you are a market disruptor you will ruffle some feathers and have people who are used to doing things one way and resistant to change lash out at you and use what power they have to try and stop you.


There's a big difference between being a "market disruptor" and flat out operating illegally which is what Uber was doing in some markets.


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## Uberfunitis (Oct 21, 2016)

chitown73 said:


> There's a big difference between being a "market disruptor" and flat out operating illegally which is what Uber was doing in some markets.


Sure, but most of those markets have came on board even Florida for example ended up passing a state law to prevent local yokels from stopping it all just because they were getting cut out of a revenue stream.


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## chitown73 (Jul 18, 2017)

Uberfunitis said:


> Sure, but most of those markets have came on board even Florida for example ended up passing a state law to prevent local yokels from stopping it all just because they were getting cut out of a revenue stream.


And nothing you've said so far has shown that he was honest with his intentions. Not to mention that Uber's bad public relations image has a lot to do with those illegal practices


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## Uberfunitis (Oct 21, 2016)

chitown73 said:


> And nothing you've said so far has shown that he was honest with his intentions. Not to mention that Uber's bad public relations image has a lot to do with those illegal practices


His intentions to grow a global rideshare company that is available in all markets. How was he dishonest?


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## chitown73 (Jul 18, 2017)

Uberfunitis said:


> His intentions to grow a global rideshare company that is available in all markets. How was he dishonest?


Lmao... by operating illegally and promoting a toxic corporate culture that had cost the company money in multiple lawsuits.


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## Uberfunitis (Oct 21, 2016)

chitown73 said:


> Lmao... by operating illegally and promoting a toxic corporate culture that had cost the company money in multiple lawsuits.


Did he explicitly state that he planed to follow the laws? Him breaking the laws seems to be a big factor in those laws being changed that allowed the ride share company to grow as big as it has.


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## Maven (Feb 9, 2017)

Board and New CEO counter punch. It's a battle Royale 
https://uberpeople.net/threads/uber-strips-power-from-ousted-ceo-travis-kalanick.207565/


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## ABC123DEF (Jun 9, 2015)

Maven said:


> Board and New CEO counter punch. It's a battle Royale
> https://uberpeople.net/threads/uber-strips-power-from-ousted-ceo-travis-kalanick.207565/


Better pop lots of popcorn...this could be entertaining if nothing else!


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## Yam Digger (Sep 12, 2016)

Mears Troll Number 4 said:


> Seriously TK...
> 
> What the crap is wrong with this guy?
> 
> ...





Ride-Share-Risk-Manager said:


> But is it a service dog ? If they refuse to meet as a Board of Directors with a service dog they should be terminated immediately.


If Roman Emperor Caligula can appoint his horse a High Priest and a member of the Roman Senate, I see no reason why Travis can't appoint his dog a member of Uber Board Of Directors.



tohunt4me said:


> GOOD !
> Now boot Benchmark out of there !
> 
> The " Swamp Thing KNOWS how to run a Swamp !
> ...


Travis? Is that you?


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## Uber-John (Jan 12, 2017)

They have a failed business model. I think the more appropriate view is "when" will they fail, not "if" they will fail. I honestly see a complete meltdown when they start to run out of cash because there is zero economic chance that they could turn profitable.

Any potential investor interested in investing their money going forward is just throwing good money after bad.


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## Maven (Feb 9, 2017)

Uber-John said:


> They have a failed business model. I think the more appropriate view is "when" will they fail, not "if" they will fail. I honestly see a complete meltdown when they start to run out of cash because there is zero economic chance that they could turn profitable. Any potential investor interested in investing their money going forward is just throwing good money after bad.


Wish I had a piece of Uber's "failed" $70 Billion business model. Japan's Softbank, about to invest a billion or so in Uber, appears to disagree with your analysis. How could they be so misguided as not to agree with you?


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## Ride-Share-Risk-Manager (Mar 16, 2017)

Maven said:


> Wish I had a piece of Uber's "failed" $70 Billion business model. Japan's Softbank, about to invest a billion or so in Uber, appears to disagree with your analysis. How could they be so misguided as not to agree with you?


None of us knows what will happen and you are right that a company like Softbank should not be throwing around investments of a $1 billion or more casually without doing some serious due diligence. The only point that I will make is that if I were going to invest in Uber I would go out and be a driver in a whole bunch of cities and see what is really happening on the ground. 90% of Ubers revenues come from ride share services. I will bet any money that nobody from Softbank went out and did that most basic level of research and due diligence to see what life is like as a driver. The Uber and Lyft "the future is driverless cars" story is bogus and cannot cover up the fact that they are the two largest and most unprofitable taxi companies in the world.

Uber has horrendous relations with their drivers, no trust, and zero loyalty from drivers or passengers. I think they expanded too quickly, cannibalized their pricing and destroyed driver morale. There is not an inexhaustable supply of drivers willing to work for crumbs off the table. I just don't see the future growth story with Uber or Lyft. I think when the business history of ride share companies will be written that Uber and Lyft will be seen like AOL in the internet search space. They are the companies who created the space and industry but ultimately they were replaced by other companies who learned from their mistakes and showed how to do it better, and learned how to leverage and motivate drivers to be brand ambassadors and business partners rather than as indentured servants to be exploited. controlled and manipulated.

But time will tell.....


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## Uber-John (Jan 12, 2017)

Maven said:


> Wish I had a piece of Uber's "failed" $70 Billion business model. Japan's Softbank, about to invest a billion or so in Uber, appears to disagree with your analysis. How could they be so misguided as not to agree with you?


Umm, because I've gone through 2 FULL BLOWN dot bomb meltdowns. And what lead to those is nothing compared to what's happening now.

I hope I am wrong with this one, but I don't think I am. It won't just be Uber, although they may lead the meltdown.



Ride-Share-Risk-Manager said:


> None of us knows what will happen and you are right that a company like Softbank should not be throwing around investments of a $1 billion or more casually without doing some serious due diligence. The only point that I will make is that if I were going to invest in Uber I would go out and be a driver in a whole bunch of cities and see what is really happening on the ground. 90% of Ubers revenues come from ride share services. I will bet any money that nobody from Softbank went out and did that most basic level of research and due diligence to see what life is like as a driver. The Uber and Lyft "the future is driverless cars" story is bogus and cannot cover up the fact that they are the two largest and most unprofitable taxi companies in the world.
> 
> Uber has horrendous relations with their drivers, no trust, and zero loyalty from drivers or passengers. I think they expanded too quickly, cannibalized their pricing and destroyed driver morale. There is not an inexhaustable supply of drivers willing to work for crumbs off the table. I just don't see the future growth story with Uber or Lyft. I think when the business history of ride share companies will be written that Uber and Lyft will be seen like AOL in the internet search space. They are the companies who created the space and industry but ultimately they were replaced by other companies who learned from their mistakes and showed how to do it better, and learned how to leverage and motivate drivers to be brand ambassadors and business partners rather than as indentured servants to be exploited. controlled and manipulated.
> 
> But time will tell.....


Wow! WELL [email protected]! Thank you sir! No business can be successful when 1- they don't own, produce nor control anything and 2- when the partners they need to earn revenue despise them. Uber owns nothing. Some software, big deal. Replaceable and it won't cost $70 BILLION to do it! Glad you are wise, open minded and obviously experienced.

A word to the UN-WISE... Stop drinking the Koolaid!


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## TwoFiddyMile (Mar 13, 2015)

Maven said:


> Wish I had a piece of Uber's "failed" $70 Billion business model. Japan's Softbank, about to invest a billion or so in Uber, appears to disagree with your analysis. How could they be so misguided as not to agree with you?


SoftBank only brought a billion to the table?
Lol.
Thats 4 months pocket money for Uber.


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## goneubering (Aug 17, 2017)

Ride-Share-Risk-Manager said:


> Uber has horrendous relations with their drivers, no trust, and zero loyalty from drivers or passengers. I think they expanded too quickly, cannibalized their pricing and destroyed driver morale. There is not an inexhaustable supply of drivers willing to work for crumbs off the table. I just don't see the future growth story with Uber or Lyft. I think when the business history of ride share companies will be written that Uber and Lyft will be seen like AOL in the internet search space. They are the companies who created the space and industry but ultimately they were replaced by other companies who learned from their mistakes and showed how to do it better, and learned how to leverage and motivate drivers to be brand ambassadors and business partners rather than as indentured servants to be exploited. controlled and manipulated.
> 
> But time will tell.....


You're dead wrong about rider loyalty.


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## NorthNJLyftacular (Feb 2, 2017)

Tr4vis Ka1anick said:


> No, no, no. I want 30% of the tip to go directly to my off shore account in the Turks and Caicos Islands. From there it disappears.


I don't think Turks and Caicos is a thing anymore.


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## Michael1230nj (Jun 23, 2017)

Uberfunitis said:


> It would be better for Uber to bring TK back especially now. TK was able to bring Uber forward despite local regulators pushing back with few concessions. Now it seems that Uber is going to play nice and that means Uber turning into an extremely well regulated business and no different than a taxi. Hell in some markets they will probably cap the number of ride share drivers I guess that is good if you are one of the ones that gets to stay but bad for you if you are one that is let go.


The Flat Earth Society.


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## Spspcards (Sep 1, 2017)

PMartino said:


> I heard he actually appointed only one director.
> 
> But then on the way to the boardroom a ping came in to pick up another one.


Hilarious


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## Tr4vis Ka1anick (Oct 2, 2016)

NorthNJLyftacular said:


> I don't think Turks and Caicos is a thing anymore.


Listen smarty pants, do you think I am going to tell people where I *really* launder my money?


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## Maven (Feb 9, 2017)

How libs think that money is laundered


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## Michael1230nj (Jun 23, 2017)

Maven said:


> Wish I had a piece of Uber's "failed" $70 Billion business model. Japan's Softbank, about to invest a billion or so in Uber, appears to disagree with your analysis. How could they be so misguided as not to agree with you?


How could Banks ever get it wrong. 2008 was a bump in the Road.


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## Maven (Feb 9, 2017)

Michael1230nj said:


> How could Banks ever get it wrong. 2008 was a bump in the Road.


"bump in the Road" - LOL. The estimates losses in 2008 exceeded $22 Trillion. Even if totally wiped out (unlikely), $70 Billion is a "drop in the bucket".

Do you know how banks commonly "work the system"? The Banks causing the meltdown were the primary recipients of the "bailout". Not one person responsible for all the misery went to jail. Dodd-Frank, the only significant law passed to "prevent" recurrence has since been "hobbled" and "watered-down" to the point of non-existence.


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## Michael1230nj (Jun 23, 2017)

Maven said:


> "bump in the Road" - LOL. The estimates losses in 2008 exceeded $22 Trillion. Even if totally wiped out (unlikely), $70 Billion is a "drop in the bucket".
> 
> Do you know how banks commonly "work the system"? The Banks causing the meltdown were the primary recipients of the "bailout". Not one person responsible for all the misery went to jail. Dodd-Frank, the only significant law passed to "prevent" recurrence has since been "hobbled" and "watered-down" to the point of non-existence.


Hmmm. I guess Sarcasm has to be pointed out in loud block letters Saying 2008 was a BUMP IN THE ROAD WAS. SARCASM.


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## Maven (Feb 9, 2017)

Michael1230nj said:


> Hmmm. I guess Sarcasm has to be pointed out in loud block letters Saying 2008 was a BUMP IN THE ROAD WAS. SARCASM.


Block letter would not help with someone as impervious as myself,  but the presence of the word "sarcasm" would probably do the trick.  However, it is irrelevant to my point.

It was the threat of the failure of the banking system that caused the panic in 2008.  The partial or even total failure of a single large company like Uber, in an industry unrelated to banking, would be highly unlikely to cause the same level of panic, except perhaps among the investors.

Have you heard this one?

_*What has 17 board members and doesn't make any money?*_ The answer: Uber.
______________

https://www.thestreet.com/story/14329560/1/uber-is-a-joke.html
*Uber Is a Damn Joke*
_Uber is an outright mess. Does the new CEO truly have control? Why is the board so large? Will the in-fighting ever stop? No way this company goes public over the next 18 months. - _Oct 4, 2017 by Brian Sozzi

Uber's board of directors approved changes on Tuesday that left founder and former CEO Travis Kalanick with less clout at the ride-sharing company, according to a New York Times report. The meeting also shuffled the company's corporate governance enough to make an investment palatable to Japan's SoftBank. SoftBank is expected to invest between $1 billion and $1.2 billion at Uber's current valuation of about $70 billion. Uber's board will now swell to 17 members, including new additions in former Xerox CEO Ursula Burns and credit bubble executive John Thain. The world's largest retailer Walmart (WMT - _Get Report_) has 11 people on its board, for comparison purposes.

All in all, the situation at Uber is ridiculous. From an ousted founder that still sits on the board and who is unlikely to go away quietly, to upset young rich tech investors to a new CEO trying to find his sea legs, Uber remains a company in absolute turmoil. Keep in mind that Uber still hasn't made any money and with rival Lyft and others on the prowl, there is no indication a future of amazing profits is guaranteed. Uber is not a public company today, six months from now, or even 18 months from now. Instead it remains a company with a decent app, independent drivers that have mixed feelings on the brand and a board that makes it easy for headline writers. Get your act together people -- the talent exodus is next, and so is a valuation haircut.


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## VietnamDriverinUSA (Oct 9, 2017)

PMartino said:


> I heard he actually appointed only one director.
> 
> But then on the way to the boardroom a ping came in to pick up another one.


Uber also has Pool Appointment.


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## garyk (Jan 22, 2016)

Jo3030 said:


> Dude is above the law and above reproach.


I don't think the word reproach means what you think it does.


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