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What Made Uber?- A Case Study for Entrepreneurs

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Hello everybody, Tom Ellsworth here, and welcome
back to Case Studies with the Biz Doc. This week it’s the making of Travis Kalanick
and Uber. We’re going to find out what made Uber co-founder
and CEO, Travis Kalanick into the man he is today. More importantly, the highly successful leader
and CEO. And along the way, we’re going to look at
the first four rounds of financing for Uber. In a later case study, we’re going to dive
in to Uber a little deeper and take a look at what they did to overcome controversies,
when they reached opposition in the face of their success, and how a great company recovers
and keeps growing at a record rate. But for today, let’s dive in to what made
Uber and what things were in Travis’ life that formed him into the CEO we know today. There’s going to be three points that we’re
going to dig out today that I think will be very helpful and interesting to everyone. One is, most great CEOs don’t come out of
nowhere. They learn lessons and they acquired skills
and experience along the way. Today’s core points are the following three
items. #1: Most great CEOs don’t come out of nowhere. They had some sort of learnings or experience
along the way. There are very few Bill Gates and Mark Zuckerbergs
who dropped out of Harvard, joined a company, and then went forward. And in the case of Zuckerberg and Gates, they
both had a lot of experience along the way. Other CEOs don’t have it that way. They learn things along the way. And that’s point one. Most great CEOs don’t come out of nowhere. Point 2. When you’re building a company, assemble a
great core team early. You can’t do it yourself. But, keep yourself in the vein of the Lean
Startup, a great book that I recommend, by Eric Ries. Keep it lean, but get a great team of core
people that will be the brain trust and the genius that moves your company forward. And point #3: The moment you know what you’ve
got, go big and go fast. And if you have a great core team, that’s
your platform to go big and go fast. Because you can’t do it alone. So those are the core points. And now let’s dive in to the life of Travis
Kalanick and take a look at the things in his background and the founding of Uber. Travis turned 40 this year. He was born in 1976, in Los Angeles, California. He grew up in the valley as they call it,
in a place called Northridge. Northridge is famous for in 1994, there was
a massive earthquake that made world headlines. And that’s the area where he grew up. After getting out of high school in the valley,
he got into UCLA in a computer engineering degree path. That was his major. That’s what he was studying. So as you can see, this is a very bright guy
that got into a great college and he was studying pure geek. A lot of good geek that goes into that. Some of the greatest companies in the world
are made out of comp sci majors and engineers who are just taking that geekdom into stardom,
and build fantastic companies. Travis was no different. But apparently he had a little bit of an itch
to do more than just go to college. Because at the age of 22, in 1998, he dropped
out of UCLA. Something that I happen to think is actually
good. You need to get a degree to learn things like
comp sci, but there is a side of me that doesn’t believe that everyone should go to college. But anyway, that’s for another story and another
day. But in this case, he drops out and he joins
a company called Scour. And Scour was a peer-to-peer search engine
that included video, not just audio. Now for those of you that remember, there’s
a little company called Napster that was doing peer-to-peer audio, and allowed people to
share songs without paying for them. Or one person paid over here, and a thousand
people shared the song. And meanwhile the artists and record companies
got upset. Yeah, that was peer-to-peer. And Travis was working in a company called
Scour. Now it had some interesting first investment,
which put Travis in contact with some big players. One of those was Michael Ovits, former president
of Disney, and the founder of mega agency CAA, Creative Artists Agency. And, Ron Burkle of Yucaipa companies, a massive
private equity company. So here he is dropping out of UCLA, joining
Scour and getting an acquaintance with some very big players. Well, in October of 2000, if you go back and
take a look at history, you’ll see that the peer-to-peer companies were getting sued. And, that’s what happened. Scour was sued by the Motion Picture Association
of America and the Recording Association of America and about 30 other plaintiffs for
what was said to be approximately $250 billion. Okay, if you’re sued for $250 billion, it’s
really not a problem. And let me tell you why. If someone sues you or me for a million dollars,
we’re in trouble. They could take everything we have from us. But if they’re suing us for $250 billion,
they’re in trouble! We don’t have that. You can sue me for that, you could sue me
for earth, the value of earth. I haven’t got it. So good luck with that. And what really happened is it forced the
company into bankruptcy. So they filed chapter 11 bankruptcy, after
being sued for an amount which is bigger than the gross domestic product of Nicaragua, you
know, they said, okay, that’s it. But then, undaunted, Travis creates Red Swoosh. It was also a peer-to-peer file sharing company,
so he was staying in the peer-to-peer space. And you should stay tuned because Napster
was also peer-to-peer and there were some guys at Napster, the peer-to-peer community
was a small world. So we’re going to see a relationship here,
show up later. Which is really important. Even in the midst of failure, sometimes relationships
you have here become in handy here. So don’t make enemies. Move on. Because you never know who can come back and
help you later. So anyway, this runs for about five, six years,
and he sells it to Akamai. Well he’s 30 years old now, and he sells a
company to Akamai. So he experienced dropping out of school,
joining a company that gets sued and goes bankrupt, and starting a company that doesn’t
go crazy. It only sells for something around $20 million. And funny thing is he said it was kind of
a revenge business. Kalanick did an interview with Fast Company
where he said basically everybody that was suing him over here, became customers of Red
Swoosh. So he thought it was kind of ironic and he
referred to it at the great revenge business. But anyway, he sells it, so he’s had a successful
sale and he’s at a conference. And he’s at a web technology conference and
he hears some things that lead him to think about, you know, maybe ordering a black car,
you know, town car, to take you to the airport or out to dinner or something maybe that could
be made easier by using a cell phone app. And so the concept is born that would become
Uber. And so Uber’s founded in March 2009, as a
company called Uber Cab. It was a black car service and Travis was
one of the co-founders and back in those days, he called himself a mega adviser and chief
incubator. He wasn’t the CEO as of yet. In 2010, in early 2010, a guy named Ryan Graves
joins, a real product guru, and he becomes the first CEO. So they’re working on this, putting it together. And in June 2010, Uber launches in San Francisco. And at the time, an Uber black car cost like
1.5 times the cost as a cab. But, guess what? You could get it really quick, and you could
get it from your phone, and you could see how long it would take. So if we think back, it’s a Blue Ocean strategy
and those four points that you remember about that, some very interesting things happened. What did they do with Uber? They added ease of use with technology. They reduced the hassle of waiting and hailing
a cab on the street. Is that guy available? Is that guy available? Is that guy available? We’ve all been there. They also increased the availability of rides. Because you could see cabs that weren’t necessarily
on the street. You could see cars now with the Uber app that
maybe were five streets away. You could signal them to come to you. So they increased the availability of rides,
and then they eliminated the number one thing that we hate about cabs is the stinky car
that is just atrocious. You don’t ride in cabs because you want to. We’ve always ridden in cabs because we had
to. And we ignored the thoughts of whatever has
happened in the back seat, been thrown up in the back seat or left in the back seat. The whole smelly cab experience we set aside. And guess what? All of those four factors is pure Blue Ocean. So here comes Uber, a Blue Ocean in getting
rides for you and me to go where we need to go. So there you have 2010. Well in October of 2010, they raised 1.25
million in seed funding. They got it from first round capital. A guy named Chris Sacca who was a friend of
Travis’ who was a lawyer who had worked at Google, he had also been a guest on the Shark
Tank show on T.V. So he had been around with some early stage,
you know wild ideas of course, and, another investor, Napster co-founder, Shawn Fanning,
back from the peer-to-peer days, back here becomes an early seed investor in Uber. What goes around comes around. Sometimes people that you worked with over
here come in handy over here. So, there it is, December 2010, after this
wonderful, successful launch in San Francisco, and Ryan Graves who was a CEO, he decided
he’d be the GM and Travis becomes the CEO. And so there you have it in 2010, he becomes
the CEO. So take a look at what he’s learned in these
12 years, from dropping out of UCLA to becoming CEO of Uber. If you didn’t know his history, you would
think, wow, he just got lucky and had an idea to start a company. There was no luck here. This was a 12-year education. He got a master’s degree in experience, failure,
success, founding a company and all of the headaches that go along with it. That’s what led to the creation of Travis
Kalanick who’s now the CEO of Uber, as 2010 comes to a close. Well things were off and running and once
you have your seed funding and you’re successful and you got a good team in place, and a capable
CEO, guess what? It’s time for your series A financing, your
first real financing. And they raised $11 million in a round that
was led by Benchmark and it was a $60 million value, and $11 million into the company invested. And Bill Gurley, the legendary VC Bill Gurley
of Benchmark, joins the board of directors. But Bill Gurley was a guy that invested in
a company that I had the privilege to be a part of, Jamdat Mobile. He was in our series D, but he was a guy that
I had a lot of respect for, and has always been on the forefront of some real innovative
ideas. And nonetheless, there he is, series A, $60
million valuation. Well, in May of 2011, just a couple of months
later, they actually launched in New York City. That was a little controversial, because New
York City is a union cab town, but nonetheless, they launched. Today it’s one of their biggest markets. And what’s interesting, five years later,
after launching, over a one-year period, from April 2015 to April 2016, Uber averaged 170,000
trips a day in New York. So five years later, and all that controversy
later, New York is one of their most controversial, but one of their most successful markets. Now, there’s also an interesting thing that
went on in 2011. There was a conference, in the 4th quarter
of 2011 called Failcon, a conference talking about failure. And you know who spoke? Travis Kalanick. And you know what he said? He said, the 10 years before Uber was a case
study in failure. And he openly talked about all the things
that led him to do this and do that and the experience that made him who he is today. So you should go Google that video and take
a look at Travis’s comments at Failcon 2011. You’ll learn a lot from it. In December 2011, Uber decides it’s time to
go international. So they start with Paris, France. And they raise a $32 million series B. So
now in the course of just a few months, they’ve raised, you know, $43 million and the people
in series B, check this out. Menlo Ventures, a leading VC, not as good
or as big as Benchmark, but certainly a high quality VC, Amazon’s Jeff Bezos was involved,
and Goldman Sachs. And if you don’t think the Goldman Sachs boys
making an investment here are thinking about a future IPO, you’re not paying attention. That’s exactly how some banks get involved
early. So, you know, five years later here in 2016,
you look back and there were riots in France and protests, because Uber had been very successful
and now they were trying to force basically the entitled cab drivers were trying to force
legislation and stuff to push Uber out of the way. But there would be no Uber if people didn’t
like it and didn’t want to pay for it. And so they’re trying to legislate away free
enterprise. And it’s just not going to work. So anyway, that’s what was happening this
year, the seeds of which were 2011, as they raised $32 million to launch their first international
market in Paris, France. They continued to grow and move and in July
of 2012, they announced UberX, and it wasn’t just black cars anymore. Now you could get a Prius. And it cost a little less than the black car. So they were just applying their technology
and their expertise, building another product chapter, putting their mind to good use. And so you can see they didn’t just say, “it’s
all about black cars. It’s all about black cars, all about limos.” Nope, they were thinking beyond and as we
will see in a few minutes, they were thinking well beyond. So that service about again 35% less expensive
than a black car, you had Prius’ picking you up, and there you have it. Well, in August of 2013, now we’re less than
two years later, they were continuing to grow and add cities, and controversy would come
up from unionized cabbies, but here comes the big money. They raise $258 million from Google Ventures
and, by the way, it was a $3.76 billion valuation. They were now what people like to call a unicorn,
which is a company that’s a startup and is suddenly worth more than a billion dollars. And that was just incredible. So their forays and success drove a need for
capital, but with that came the valuation. This is part of my point about going big and
going fast. Within a year of that, July of ’14, so, July
of ’13, July of ’14, they raised $1.4 billion in a series D at a $17 billion valuation. Let me say that again. $17 billion valuation. And at one point Uber was the most valuable
private company that hadn’t gone public yet. And they continued to invest in technology
and apply technology. For instance, they started Uber Pool, which
you and I may know about. It’s a car pool . You could see people going
your direction. You could hop in an Uber with them, you only
pay for your part of the trip, but you’re all splitting it. So it’s efficient for two or three people
to share one Uber. Then they started Uber Rush, which was a bicycle
messenging service in New York. They also started Uber Cargo, where you’re
allowing people to pick things up and drop it off in trucks and small vans. And then Uber Eats. As a matter of fact, the founder of Valuetainment,
Patrick Bet-David, he uses Uber Eats a lot because we’re working crazy hours, and we
want good meals delivered. So we’re customers of Uber Eats and we say
hey, we need to get something. Get me one of these, one of those. We call for Uber Eats and great food is here. And that is an example of strategy thinking
beyond, and strategy applying saying, you know, we got this technology with mapping,
we know how to map things, we know how to make efficient routes, we know how to do all
these things, why not deliver food? Why not pick up cargo? Gosh, why shouldn’t bicycle messengers use
this as well? And that is the first chapter of Uber. Going all the way to their series D, the first
six years with the growth. And as you know if you read the headlines,
and I know you pay attention, because these viewers, I know you ask me questions and things
to show me that you’re really diving in. I’m going to do a second case study that talks
about 2014 – 2016 and all the things that Uber faced, such as facing competition from
Lyft – much smaller, but also a competitor. Facing the city of Austin, Texas putting in
legislation that actually led to Uber and Lyft saying, okay, the hell with it. We’ll leave Austin, Texas. See what the people have to say about that
and maybe they go back to city hall and say, hey, you know, we need more than just taxis. Come back. We’re going to see how that plays out. We’re also going to see some things happened
internationally, such as having to leave Hungary because Hungary forced federal legislation
down their throat and basically defended legacy, inefficient cab service. Socialist entitlement, squashing free enterprise,
at its worst happened in Hungary. And so we’re going to see how Uber maintains
its status of an incredible, growing company and raises billions and billions of more dollars
in capital to continue global expansion and it becomes a fantastic mature company, responding
to things that are going on around it, under the leadership of a UCLA dropout named Travis
Kalanick. And that, my friends, is chapter one of Uber,
the making of Travis Kalanick and Uber reminding you of those simple points. Great CEOs quite often don’t come out of nowhere. They have a lot of experience. And if you’re out there getting that experience,
you could be the founder of something really special when you get there. And my other two points. One, put a great core team around you early,
but stay lean and then when you know you’ve got something, and that it’s time to go big,
go big and go fast. And as you can see, Uber went out to get the
capital to do exactly that. I’m looking forward to another time where
we dive into the other side of Uber and I gave you a little sneak peek of that. And for today, we are saying, thank you, and
I’ll see you next time and please subscribe to Valuetainment, the best channel on the
Internet for content for entrepreneurs. Until next time, I’m Tom Ellsworth, and I
hope I left you, better than I found you.

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100 thoughts on “What Made Uber?- A Case Study for Entrepreneurs”

  1. Pocket Man says:

    Tom Ellsworth and valuetainment, what an honour it is to have such high quality content from you. Thank you

  2. Zafro says:

    I absolutely love these case studies so much info I can't believe its all free I'm just trying to constantly sponge off you guys, thank you. BTW nice shirt I like the Mobil 1 logo, I work in sales for a division of Mobil up in Canada.

  3. Conrad Mota says:

    I'm amazed with all this educational videos. It's like I don't have to search anywhere for this type of content, because is all here!

  4. Mark Ramrattan says:

    Great case study Tom. Liking the McLaren F1 top, hopefully they perform better in the coming year (They have had enough failure experience in the last 3 years with the new Honda Engine). However, I am a ferrari fan, currently masters in failure 🙂 Would be great to see a case study on F1. Bernie growth to success and his eventual sale of the business or a specific company. Manor racing just went into administration.

    Looking forward to Part 2 of the Uber 2014+ case study. I need to figure out how to get the right team, without having the money to pay for the type of people needed. Also what is the process for Venture Capital. Yes, before you even say it, don't worry, i'll google and see what I can find. Appreciate all the work you put into these case studies.

  5. Makary Nabil says:

    I like your channel so much but I need more videos for teens and new ideas and new principles and I am actually a 15 years old teenager who started working on freelance websites. I wish you be the best.

  6. Juan Quiroz Jr. says:

    You RoCk Tom! (:

  7. Gappiya says:

    This is great! Can you please do more of these. Also can you do a video how to set up a company structure in more detail. Great content as always. Love from Australia!

  8. Ethan Edmunds says:

    You should a case study on stance socks. I would be really interesting to see how they were able to have the incredible growth they have had as well as becoming the official sock of the NBA and MLB.

  9. john heathalin says:

    I think tom needs to watch real men real style

  10. john heathalin says:

    hey Tom could make a video about apple

  11. abdullahi ali says:

    This really helped me since I'm building an app similar to uber thanks 🙂

  12. Krisna Syahdanadarma says:

    Thank you tom 🙂

  13. virtual world action says:

    Please we need subtitles back!!!!

  14. Eddy Hugo Peralta says:

    Do airbnb please!!

  15. Reggie Menard says:

    I had the pleasure of reading Lean Startup by Eric Ries. This book was an eye opener, and I learned so much from this book. I greatly appreciate the case studies, and a lot individuals are benefiting from them.

  16. Hickory Homes says:

    Thank you Tom, I really appreciate your mix of successful company traits as well as traits that lead to a company's demise. Great info and super helpful. Your point about Leaders seldom coming out of nowhere reminds me of how they referred to Randy Travis back in the day – they said he was an overnight success and Randy would say "I've been performing anywhere that would let me 7 days a week for 15 damn years so if you think that's overnight you're missing how much I've earned my success". Great case study today.

  17. Cris Aldi says:

    Hi ! I don't know if it comes from me but the subtitles are not synchronised with the audio. Otherwise great video !

  18. Jubare Ahmed says:

    my first video of case studies 😊

  19. Eduardo Schiavon says:

    Hey Tom, great video as always! Could you do a case study on Apple? Cheers!

  20. T K says:

    Good on ya uber

  21. T K says:

    What if there was uber space and it took you to Mars or the moon with a private spaceship lol.

  22. Gerald Bassig says:

    great great great Tom. cant wait for the part 2. Here in Asia its UBer VS Grabb

  23. Luca Cras says:

    Case study for PHP Agency? 🙂

  24. Andrew Magz says:

    Great content! Very interesting

  25. Lemuel Breakfast says:

    Great video Tom. Very informative

  26. Dreighen says:

    Would love a case study for AirBnB and a primer on starting a marketplace platform business model.

    Edit: God, I love these case studies, brilliant and valuable content. Please don't ever stop them! Also, it would be nice if you could keep the visual information on top of what you have about the key points you cover and all of the main content you want people to remember from the video.

  27. Nosisa Ndabandaba says:

    Really enjoyed this – now part 2 …

  28. Marcel Wiedenbrugge says:

    There is one problem with this story. Uber is increasingly loss making and their technology is not that unique at all.

  29. DMG888 says:

    So just a note on the "entitled cab drivers" comment. While I don't know the policies in France, in Boston the cab drivers were sold medallions which basically read "you can't be a cab driver without one of these, and we will only ever produce a limited quantity.", these medallions still sell for around 100k now, so you can imagine what they went for before Uber crushed their value. Now, the other issue is Uber does not have price regulations, the taxi pricing is controlled by the police commission, so it's not like the compete in price.

    Basically, the government sold cab drivers a promise, failed to protect that promise (many medallion owners lost their retirement as a result of this) and then continue to keep them hamstrung from competing price wise. That's a case study all in itself though.

  30. Sakis Kaliakoudas says:

    Hey Tom,

    great vids. I would love for you to do a case study on a couple of very popular computer games:

    Dota 1 was a community created mini-game that was played on the warcraft 3 platform, owned by "blizzard entertainment".
    It was great, but graphics had stayed the same for years and years and people were complaining.
    "Riot games" saw this opportunity and made a similar but not identical game (League of legends) with good graphics. It was a big success.
    Then after a year or so "Valve" decided to make dota 2, which was exactly the same game as dota 1, but with really good graphics.
    Fast forward to today, Riot games is making an estimated 15 million a day from their game, while dota 2 is making the same every month.

    I think it's an interesting example of how someone saw the demand in the market, and acted fast, leaving competitions way behind. I guess that finishing first matters?

  31. J Reach says:

    Love your Case Study series.

  32. Boros Gábor says:

    Great content Tom! You know in Hungary we possibly got some influencing by PM friends owning taxi companies that's why Uber was forced out. Wouldn't even be big business for them as taxi services unpopular. Interesting topic if one is interested in political influence in business, or psychological "warfare" against the majority.

  33. St S says:

    Stop trying classify and contain everything. That's not how our mind works. You cannot mimic other's success by studying them day and night. Accept the simple fact that there are many ways of doing a task. Don't force others to choose one way.

  34. Fahad Mukunzi says:

    I like this guy.

  35. Yudi says:

    fantastic video! love this channel!

  36. joe low says:

    when building a companh start with a great team of core people
    then go big and go fast

  37. joe low says:

    if u can make something better then u can charge more

  38. Bold Motion says:

    Had an error on the video. Was not able to play. Thank you!

  39. joe low says:

    unicorn is company that started and is worth than 1 billion

  40. joe low says:

    can legislation ban certain companies?

  41. Yvonne Ruvinski says:

    1. Great CEO's don't come out of nowhere. 2. Assemble a great core team early. 3. Go big and go fast.

  42. sahlool says:

    hey pat do you seed fund?

  43. 7brandonc says:

    This is one of my favorites. But for alll my cars heads out there… How about a case study on Christian Von Koenigsegg??? Youll find this guy is huuuge on innovation.

  44. Romil Mistry says:

    Still going- great video Tom.

  45. Hasnain Abbas Dilawar says:

    I listen to these case studies with 50x attention than I do in my class. Keep it up!

  46. Bro. Vin TV says:

    hello Tom, good day! can you pls make a case study on Samsung, thank you

  47. iMotion Media says:

    Uber really solved a problem!

  48. jeffre simmons says:

    I like this guy!!!!!!!!!

  49. Mohammed Hashim says:

    What a useful video. Thanks Tom

  50. Dis Master says:

    I like your case studies, great presentation. Do more please! Thanks for putting in the time to give us free knowledge, it saves so much time because you do the research for us. Plus it's fun and educational. Just want you to know that your effort is much appreciated, i know what it takes to put this all together. Thanks!

  51. Ti Bretin says:

    When you don't pay tax in the country you are in, it's not free Entreprise, it's robbery. Also, Uber drivers don't pay business tax like registered Taxi Drivers…You still think that it's Free Entreprise ?

  52. Baldeep Birak says:

    P2P networks providing great products when used legally

  53. John Smith says:

    What is the blue ocean strategy?

  54. Tomas T says:

    There'd be no cocain if people wouldn't like it n' didn't wanna pay for it – need to sharpen up that argument

  55. SoundSoCollective says:

    I remember 2000 Internet Napster, Kazzah, Scour, Azureus….
    now this app that app, tracking & data abuse have completely ruined the internet, Ad in 3sec 2 1…..
    Fluff Uber,, Fluff JustEat, Windows10 Fluff you too (get money) die slow mother fluffers!! (2-PC – Bit em up) Out Now….

  56. SoundSoCollective says:

    I hate Neo capitalist cock smokeerahs…… If all these great American CEO's are worth celebrating, why all the debt in western economy??
    Has nothing to do with Mexicans, i assure you…..

  57. FilmProductionWrkShp says:

    What I learned is that ego is the core of successful biz – just look at how pat (the guy who loves hearing his own voice) takes over valuetainment by putting a vid out every minute leave no room for the more well researched n informative case study – a classic example of ego being the winning drive in biz

  58. Tomas T says:

    Guess they’re just a taxi now :ddd

  59. Anuja Churi says:

    Thank you so much Tom Ellsworth!

  60. OkutoHori says:

    I'd like to see a contrarian case study on a company that you consider overhyped at this moment. Great channel

  61. Essam Tarek says:

    can i have the resources please if it is available

  62. Adriano Me says:

    Uber is the biggest scam ever invented, you get folks to drive their car for peanuts for you, this is where the money Uber make comes from

  63. Not authorized says:

    avg driver earns 3.37 hr to bad that's not in your case study

  64. Yaroslav Bolotov says:

    This video did not age well../

  65. THE BRAVADO SHOW says:

    LEGENDARY

  66. Dim K says:

    Its not ruthless socialism… It is that the taxi drivers have to get expensive and time-consuming licenses while Uber drivers dont. On the other hand Uber is a ruthless moneymaking company that doesnt care about you… once my stolen credit card was used for 20-30 uber rides within same day and when i contacted Uber they didnt give a damn about it. They could just track the guy with the account using the stolen credit card right? They didnt want!

  67. Brent Emslie says:

    These videos are so good. Who does this on youtube. Great unique content.

  68. Stanley Rodriguez says:

    Uber doesn't work that way anymore. Very bad company

  69. Subodh Patil says:

    be subjective

  70. Count DaMoney says:

    These case studies are great!!
    Yes, I've subscribed, thank you and all strength to your arm Tom.

  71. Vinícius Santos Freitas says:

    I am astonished with your quality content ! You just got a new subscriber!

  72. gatdammit says:

    Interesting story I heard from Uber driver. He used to be a cabby and said the tech was offered to cabbies first (as some kind app dispatch system), but the union had already spent the money on their new dispatch system, so they passed. So the cabbies had their chance.

  73. PowerOverFear says:

    Love the shirt!

  74. Tony Montana says:

    The Rabbit went Big and Fast and …… 😉

  75. Sreeram Meka says:

    The captions doesn't coincide with the voice from the middle of the video.

  76. ShevRD says:

    I am in Jamaica where Uber is coming to.They are branching off to third world countries but the people are afraid of change. I want to be apart of Uber because Capitalism is necessary and the towards change

  77. Thomas A Osuji says:

    I used to love Case Studies back in Business School. I can't believe I only found this channel now. This is so so good!!! There's really only one word to describe this format and that's DAAAAAAAMN!!!!!!!!! haha sending my best from Berlin!!!

  78. Kayachi says:

    Ive been subscribed since about 100k subs

  79. Pernection says:

    Gypsy cab.com

  80. ic3xiii says:

    just found this channel and was watching a series of videos and came upon this.
    looking back.. Uber was also bullied by the government of the Philippines by the same reason as in Hungary and Austin, Texas.
    I can't blame the government as wealthy private individuals buy a fleet of cars not for private use — increasing the cars on the street.

  81. Coach B says:

    Great case study and a great channel. Many cabbies turned off their meters and joined Uber/Lyft. Former Hacks either joined Uber for the increased freedom or because Uber was taking their business Free enterprise just works that way. The individual doesn't stand a chance against well funded, aggressive competition.
    I wouldn't characterize cab owners as priveledged. Too many folks work long hours and support their families with a taxi. Perhaps you refer to the Yellow Cab medallion system of N.Y. as an example.
    Today if we don't change with the times the times change us. Great video !

  82. R.a. Wheeler says:

    I'll tell you built Uber. Government regulations and the taxi industry. Anyone who lives in New York, or even in my area, South Bend could understand really quickly. The Taxi companies pay big taxes for the pleasure of carting people around, and the Taxi companies always serve the big payer first. So, if you got a guy who wants to go to Chicago from South Bend verses a guy needing a lift to work downtown, guess what one is going to get the service? The guy needing a lift to work might be left waiting. The taxi companies don't care. Uber however serves the public interest. The driver verses ridder is somewhat more jelled, drivers want to make money, rider whats to get places. The ride prices are also much cheaper to boot. Thus Uber is much more efficient at meeting the needs of customers without being bogged down and having their interests distorted. It's amazing what a free market can do if left alone. It's a business plan that almost sells itself.

  83. Cupid Bercero says:

    really a great content..Pet David your the man.

  84. Kp S says:

    Absolute garbage. Pumping companies they r invested in. Anyone here under 30?

    For a real convo not the garbage they spill

  85. TEBOHO MULLOY says:

    Great introductory !!!

  86. Oluf Marshall says:

    https://journal.media/life-as-an-uber-driver What its really like working for this scumbag company.

  87. Daniel Andries says:

    2018 ant they still lose money. You must be an idiot to invest in a company founded by Napster scoundrels.

  88. Edward Chang says:

    Dude never made Uber money and got fired as CEO. If you think no one else thought of an app that calls a ride share you're an idiot. The only thing he did was completely neglect local laws in regards to taxis and ride shares. So basically if you want to be uber all you have to do is conduct illegal business practices. Basically right under Elizabeth Holmes

  89. abdul ali says:

    where is the damn !!

  90. Uttam goli says:

    mclaren f1 good old ron dennis days

  91. Nathan Dunn says:

    Tried uber in September in Aus!

  92. Rebaone Gill G says:

    Please do a study on Boardriders Inc, specifically focus on their acquisitions.

  93. ikenna ogbu says:

    How do company being valued as in monetary value?

  94. Jasp Taylor says:

    Got a few facts wrong in this.

  95. Jasp Taylor says:

    He didn't join Scour, he founded it.

  96. hemanth kumar says:

    Your case study is bullshit.there is no depth in the topic.uber did not start with the app .but is started with calling through phone system. whereas customer calls uber employee and uber calls taxi driver .

  97. Life and Art says:

    This didn’t age well! 😕

  98. Ricardo Mtz says:

    Uber won’t be here 10 years from now

  99. mauvehawaii says:

    uber has billions in loss

  100. Nicolas Morin says:

    How can evaluate a startup ? 30 M$ 12 M$ 120M$ valuation…How does it work

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