Dara Khosrowshahi

And things that seem very simple on the surface, to actually make the magic happen of pushing a button and a car shows up in five minutes and you get great service, it's actually pretty difficult tech to build on the ground. It's really cool.

And things that seem very simple on the surface, to actually make the magic happen of pushing a button and a car shows up in five minutes and you get great service, it's actually pretty difficult tech to build on the ground. It's really cool.

It was the displacement in terms of shareholders. It was tough, right? And there's a certain cohort of shareholders going after hyper growth, et cetera, especially in this marketplace where it's much more about discipline growth, profitable growth, et cetera, that that changeover has been difficult

It was the displacement in terms of shareholders. It was tough, right? And there's a certain cohort of shareholders going after hyper growth, et cetera, especially in this marketplace where it's much more about discipline growth, profitable growth, et cetera, that that changeover has been difficult

But we now have a set of shareholders like the Fidelities of the World, Capital, Morgan Stanley, et cetera, that have the capacity to own a lot of shares, way more than they do today. And there's a consistency about it. As we keep delivering, they keep upping their stake. And we're now seeing a stock price that generally is working. But I'll tell you, when we're in the middle of it, it was tough.

But we now have a set of shareholders like the Fidelities of the World, Capital, Morgan Stanley, et cetera, that have the capacity to own a lot of shares, way more than they do today. And there's a consistency about it. As we keep delivering, they keep upping their stake. And we're now seeing a stock price that generally is working. But I'll tell you, when we're in the middle of it, it was tough.

After the IPO, after the lockup, Travis sold all his shares.

After the IPO, after the lockup, Travis sold all his shares.

And those days, like, those were not heavy days. That was probably 15% of the company? I don't remember if it was 15%.

And those days, like, those were not heavy days. That was probably 15% of the company? I don't remember if it was 15%.

Or 2%. Or 1%. Or 2%.

Or 2%. Or 1%. Or 2%.

Like, that's, wow. Like, I think in hindsight. I think it was a good move by him because it created separation. He wanted to move on. And so I, in hindsight, I respect what he did. And in hindsight, like, I didn't see it at the time. I was, like, pissed, right? And people were panicking. Oh, my God, Travis is selling. What does that mean? Et cetera.

Like, that's, wow. Like, I think in hindsight. I think it was a good move by him because it created separation. He wanted to move on. And so I, in hindsight, I respect what he did. And in hindsight, like, I didn't see it at the time. I was, like, pissed, right? And people were panicking. Oh, my God, Travis is selling. What does that mean? Et cetera.

And, you know, everyone wants to create drama around Uber. So it's difficult as the leader to keep the team focused and believing. Right. Because it's very easy to keep score based on the stock price. And the stock price is definitely moving in the wrong direction. And Travis, you know, whether you liked him or not, you respect him. He's a really smart person. He's a founder of the company.

And, you know, everyone wants to create drama around Uber. So it's difficult as the leader to keep the team focused and believing. Right. Because it's very easy to keep score based on the stock price. And the stock price is definitely moving in the wrong direction. And Travis, you know, whether you liked him or not, you respect him. He's a really smart person. He's a founder of the company.

That was a tough time. But I think we're now in a good place, which is the shareholding is moving from either some of the startup folks or hedge funds to fundamental long-only players who hopefully they'll be shareholders for the next 10 years.

That was a tough time. But I think we're now in a good place, which is the shareholding is moving from either some of the startup folks or hedge funds to fundamental long-only players who hopefully they'll be shareholders for the next 10 years.

Oh, yeah. Obviously, Benchmark and Travis were in this power struggle. But there was this heavy feel, like when you talk to the benchmark folks, there's this responsibility, which is, this was one of the hits of the century. Like this is a category defining company and investment. And benchmarks had a lot of good ones, but this one was a great one. And while I wouldn't say it was a probability,

Oh, yeah. Obviously, Benchmark and Travis were in this power struggle. But there was this heavy feel, like when you talk to the benchmark folks, there's this responsibility, which is, this was one of the hits of the century. Like this is a category defining company and investment. And benchmarks had a lot of good ones, but this one was a great one. And while I wouldn't say it was a probability,