Dara Khosrowshahi

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.

Whoever sold might lose control, et cetera. And so we had to go around to all of the high vote shareholders, and we literally had to get everyone to agree to blow up the high vote shares. I think it's actually the only time when a tech company, they blew up all of the high votes. And so every, like, we literally had to go shareholder, shareholder. And, like, Ben said he would say yes.

Whoever sold might lose control, et cetera. And so we had to go around to all of the high vote shareholders, and we literally had to get everyone to agree to blow up the high vote shares. I think it's actually the only time when a tech company, they blew up all of the high votes. And so every, like, we literally had to go shareholder, shareholder. And, like, Ben said he would say yes.

And George, like, everybody. And if anyone said no, none of it would work. And, you know, South Bank would go to, you know, Club Pink, which would be a disaster. Wow. So that was a really interesting kind of... It was like all or none, right? And in the end, we got everyone, including Travis, Benchmark, everyone agreed to essentially switch over high vote to low vote.

And George, like, everybody. And if anyone said no, none of it would work. And, you know, South Bank would go to, you know, Club Pink, which would be a disaster. Wow. So that was a really interesting kind of... It was like all or none, right? And in the end, we got everyone, including Travis, Benchmark, everyone agreed to essentially switch over high vote to low vote.

And that, one, it got SoftBank in, but it stopped the power struggle because then no one could control a company. And that was actually a real secondary benefit, which is then it became like, how do we build a great company versus who's going to get control and who's going to have more impact? We did it for SoftBank.

And that, one, it got SoftBank in, but it stopped the power struggle because then no one could control a company. And that was actually a real secondary benefit, which is then it became like, how do we build a great company versus who's going to get control and who's going to have more impact? We did it for SoftBank.

But in hindsight, it was a really important move, which is, okay, no more board control. Like, this is no longer going to be a control company. Let's go build.

But in hindsight, it was a really important move, which is, okay, no more board control. Like, this is no longer going to be a control company. Let's go build.

Everything would have blown up. And you might have had a Lyft who was gaining category position against us with a $10 billion investment from SoftBank. That's right.

Everything would have blown up. And you might have had a Lyft who was gaining category position against us with a $10 billion investment from SoftBank. That's right.

It was actually, I think, $15. Wow. And some secondary and some primary. Wow. It would have been like that. That would be... Maybe it would have been life or death. Who the hell knows? And I mean, Uber had raised the most money of any company, any startup at that point. It was just, it was a very, very high stakes game.

It was actually, I think, $15. Wow. And some secondary and some primary. Wow. It would have been like that. That would be... Maybe it would have been life or death. Who the hell knows? And I mean, Uber had raised the most money of any company, any startup at that point. It was just, it was a very, very high stakes game.

And it was, we had a deal person, Cam, who like did heroes work, like just talk to everyone. And then he would like kind of bring me in as a nice guy and everything. Say all the nice things. But in the end, it worked. It was a big move. And everybody converted, which is pretty awesome.

And it was, we had a deal person, Cam, who like did heroes work, like just talk to everyone. And then he would like kind of bring me in as a nice guy and everything. Say all the nice things. But in the end, it worked. It was a big move. And everybody converted, which is pretty awesome.

It was good training. I love the operating side of the business, the tech, et cetera. That's the stuff that I love. But I have to say the investment banking background that I had Like even the concept of, hey, how do we get out of this issue? The way to get out of this control issue is everyone blows up the shares. And I was like, wait, like that'll work? We're like, yeah, like that could work.

It was good training. I love the operating side of the business, the tech, et cetera. That's the stuff that I love. But I have to say the investment banking background that I had Like even the concept of, hey, how do we get out of this issue? The way to get out of this control issue is everyone blows up the shares. And I was like, wait, like that'll work? We're like, yeah, like that could work.

Show me the bottom. No, then like going after, like starting to call people. Wow. It was awesome. It was cool.

Show me the bottom. No, then like going after, like starting to call people. Wow. It was awesome. It was cool.

No, because the next day there was another crisis. It was like, breathe for two minutes, drink more wine, and then off to the next battle.