Dara Khosrowshahi

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,

there was a much higher than non-zero possibility that it could all go. It could all go poof. So I think that was a very, very heavy weight on Benchmark and some of the other startups, et cetera, which led to all events that ultimately led to like they're bringing in an unknown outsider like that. Those are some heavy decisions to make. I wasn't there.

there was a much higher than non-zero possibility that it could all go. It could all go poof. So I think that was a very, very heavy weight on Benchmark and some of the other startups, et cetera, which led to all events that ultimately led to like they're bringing in an unknown outsider like that. Those are some heavy decisions to make. I wasn't there.

I was kind of at the tail end of all that drama.

I was kind of at the tail end of all that drama.

Well, one cool kind of... It wasn't cool at the time, but one really interesting kind of dynamic that played out when I got in was there was all this stuff happening. I had to go to London, TFL. They revoked our license, and there had been a data breach, and we had to deal with that. It was craziness, right? And at the same time, SoftBank was looking to invest in the company.

Well, one cool kind of... It wasn't cool at the time, but one really interesting kind of dynamic that played out when I got in was there was all this stuff happening. I had to go to London, TFL. They revoked our license, and there had been a data breach, and we had to deal with that. It was craziness, right? And at the same time, SoftBank was looking to invest in the company.

And this is the Vision Fund days. And, you know, SoftBank, the only way they came in was heavy. Like, there was no tick-tock. There's no lightness of being with Masa.

And this is the Vision Fund days. And, you know, SoftBank, the only way they came in was heavy. Like, there was no tick-tock. There's no lightness of being with Masa.

And the issue that we had to deal with was one where Benchmark and Travis and the founders, they all had high vote shares. And they both wanted to control the company. And if you sold your shares, they would flip into low vote. So there was this game of chicken, which is SoftBank wanted in.

And the issue that we had to deal with was one where Benchmark and Travis and the founders, they all had high vote shares. And they both wanted to control the company. And if you sold your shares, they would flip into low vote. So there was this game of chicken, which is SoftBank wanted in.

And in typical Masa fashion, it was like, hey, if you don't let us invest in you, we're going to invest in that pink company, right? And it's billions of dollars. And so we had to... get SoftBank in, and they wanted to invest in Uber because it was a top brand, had top tech, et cetera. But at the same time, none of the shareholders wanted to sell because there was this game of chicken.