Emil Michael: Loose capital cycles enabled Uber to launch Uber Eats
Emil Michael · Emil Michael: How I Negotiated the $4B Uber-China Deal, Why DoorDash Caught Up to Uber | 20VC #941 · 20VC with Harry Stebbings · Oct 25, 2022 · at 56:28
Emil Michael, former CBO of Uber, explains the strategic advantages of growth capital abundance to host Harry Stebbings on 20VC.
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“For founders, it's more a good thing than a bad thing. That means that there's more capital out there. So if your business model requires more capital, you can get it. And look, people are going to say, oh my God, it's loose capital, free money, blah, blah, blah. Companies like Uber, like Airbnb started in that era for a reason. It's because we could raise a lot of money and like try a bunch of stuff. And if money's too tight, maybe we wouldn't have gone into Uber Eats. We just would have like Lyft stayed in our lane. So there is some value, the loose money cycles, They actually have a purpose and they're an example of looser money policies the D ones and tigers of the world.”
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