Feb 28

Caught On Tape: Uber CEO Argues With Driver Over Declining Fares – “Take Responsibility For Your Own Shit”:

Earlier this month, on Superbowl Sunday, in fact, Uber CEO Travis Kalanick hopped into an Uber Black Car with two female companions for what he thought would be just another easy trip to the destination of his choice.  Unfortunately, this particular ride got a little more complicated than he had hoped when his driver, 37-year-old Fawzi Kamel, decided to confront him on Uber’s falling fares, which he alleged had cost him a total of $97,000 and forced him into bankruptcy.  After the ride, Kamel rated Kalanick at 1-star and submitted his recorded conversation with the confrontational CEO to Bloomberg

The first 3 minutes and 50 seconds of the video is nothing more than a series of awkward exchanges between Kalanick and his special lady friends along with a series of random body gyrations to the tune of Maroon 5’s “Don’t Wanna Know”.

That said, things start to heat up when one of the young ladies implies that Uber is having a rough year financially (she must be a reader).  Of course, Kalanick responds by implying that burning hundreds of millions of dollars annually is all part of his master plan:

“I make sure every year is a hard year.  That’s kind of how I roll. I make sure every year is a hard year. If it’s easy I’m not pushing hard enough.”

But things really get interesting when Kalanick’s driver decides to confront him on falling Uber fares: Continue reading »

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Jun 01

teaser china uber_0

What Happens When Thousands Of Chinese Cab Drivers Get Pissed At Uber

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Jun 01

Saudi Arabia Sovereign Wealth Fund Buys 5% Stake In Uber For $3.5 Billion:

Just days after Toyota became the latest investor in Uber, in hopes of boosting car lease transactions, moments ago FT reported that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, is investing $3.5 billion in the ride-sharing company. This would be the largest single investment ever made in a private company. As the FT notes, this brings Uber’s cash holding to more than $11billion at a time when the company is aggressively expanding in nearly 70 countries worldwide.

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