Uber

“The implied volatility on Uber stock at the close today was 14%.”

“The average tenure at Uber is 1.8 years. The average tenure at Tesla is 2.1 years. The average tenure at Google is 3.2 years.”

“TK was a super aggressive personality. The company would not have been as successful.”

“Dara Korshashawi, the CEO of Uber said on the Uber earnings call last week that the average hourly rate that some drivers in New York, Uber drivers in New York were getting paid was 38 bucks an hour.”

“SoftBank is clearing a bunch of its Uber position to cover their losses in DD.”

“It's my third biggest win. Uber, calm, and then this one.”

“You know, the comps to Instacart are off anywhere between 50 and 70%. You know, takeaway is off 70%. Uber is down 60%. DoorDash was down 55%.”

“Super Pump was not accurate just because they made up a lot of scenes. Like, Drummond wasn't very active at all, but he's in a lot of the scenes, so a lot of them were made up.”

“I invested in Uber, Thumbtack, and Calm for fifteen million dollars combined. That was their combined valuation.”

“Lyft and Uber are reporting that the driver shortages are over. They no longer have to pay people spiffs and stuff like that to get people to come back to work.”

“And then you may have noticed Uber's doing an ad business now. They did three hundred fifty million dollars in the first year of that business, a million a day, and they're projected to do a billion next year.”

“Now, I think of all the three businesses, Dash probably has the biggest upside, quite just like, again, Parm's length. I don't own any of these three stocks. I'm just saying business model quality, Dash seems infinitely scalable.”

“This is a company that five years ago the press and the fake news were saying could never be profitable and was going to fail, and now it is the most successful new startup in the last cycle. Bigger than everybody.”

“When he took over that business, I think it was an eight to nine billion dollar net loss in 2019. Five billion dollar EBITDA run rate right now.”

“I'm going to go with consumer comfort services. I think as austerity measures and this, whether we have a soft landing or a recession, it's clear the consumers have spent all their money. So they're going to go for small luxuries like DoorDash, Airbnb, Uber, s…”

“All the gains in advertising have gone to those two firms and now TikTok obviously. And Amazon, Uber building respectable ad businesses as well. So all of that takes ads out of publications and puts it closer to the point of purchase, right?”

“He was disinvited. So he was there on the floor. It was very awkward. And then they didn't have him go up and ring the bell or be even there when Dara rang the bell. It was because it was so controversial. They didn't, they banned him.”

“So if Tesla enters in as a third player in that field and just guts pricing, which I think would make sense for them to do, I think this thing is just gangbusters nuclear.”

“Uber and Lyft seemingly are profitable because they find pricing power to raise prices.”

“It's the fastest growing company I've ever seen. And I'm including Uber in that it has been growing at you know, A rate that I'll just say is faster than Uber and Robinhood when we were investing in them tens of millions of dollars.”

“Any time we were doing surge pricing and our competitor wasn't, we knew we were gaining market share because somebody could just come to us and get a ride when in the other system they couldn't.”

“If an investor is running a political oppo campaign against you for six months, sort of generating a crisis every week for six months straight, it's going to wear you down.”

“In almost every city in the US other than two, Portland, Vegas, We were number two in ride sharing for this reason.”

“And let's be clear, the average Uber driver during my, you know, let's say at the end of my tenure was eight hours a week.”

“They've got to figure out the autonomous thing. That's, I think that's the next big challenge to go after.”

“So we turned a bill and a half into eight or nine. I can't remember the exact math, but it's something like that.”

“I got threatened by the city of San Francisco and the state of California three months after we launched Uber with 90 days in jail for every ride that had occurred.”

“So I think at the peak right before, right as we were negotiating the term sheet, we pushed, we were burning, I think it was. Seventy five million dollars a week.”

“Each and every city we went to, we would send, we would wait for Lyft to launch. And then we would basically say to the city, we'd send them a letter saying, there's this really cool thing called ride sharing. This company called Lyft is doing it. We think it'…”

“At the peak, I mean, I don't know what it is at Uber today, but it was like, I don't know, like a hundred, 150 PhDs working on this problem that we just described.”

“The first 30 cities, I was on that pricing call.”

“We have the partnership with Uber because we think it's important for us to create an AV ecosystem around this technology. Like, this isn't going to be, we've created technology and we're going to figure out everything ourselves. Like, that would be foolish an…”

“If you look at Google, Uber, Airbnb, and Facebook Meta, They have the same number or less employees than they did three years ago, but they're all growing in that 20 to 30% a year, which means in but two to three years, each of those companies has doubled reve…”

“Uber has got about a hundred fifty million monthly active users. Expedia has about 45, fifty million customers a year that use the service and pay for stuff.”

“I don't think users of the Uber app want to be cross sold when they book a taxi, okay? They just want to be able to Effect their transaction as efficiently as possible.”

“This is why Uber is beating Lyft is, oh, and the wait time is lower.”

“Third or fourth, I think, actually.”

“I think the age of autonomy is here, and I think there is going to be Some partnerships that will happen between Amazon, DoorDash, Uber, Tesla, Waymo, and that cohort, and I would not be surprised to see Tesla could buy Uber right now for but 10% of its market…”

“Waymo launched in SF in August, 20, 23 in kind of an open market way. Uber and Lyft were 66 and 34% market share at the time. And in 15 months in November of 2024, Waymo is now a 22% market share of rides in SF, which is the same as Lyft and Uber is now down t…”

“If they enter the robo taxi market, I actually think they should buy Uber.”

“I did not take money from Masa. So he begged me to take money for years, and we did not take it because he is a, he's a, what's the word I'm looking for? He's a promiscuous investor. So once he invests in you should probably count on him and using your informa…”

“We did stuff with the Saudis, Before even Vision Fund existed, they stroked a three and a half billion dollar check when that was like the biggest thing that ever happened.”

“If you came back, it would be a trillion dollar company with you back in that seat.”

“All that matters to me is that Uber is the anti-tariff stock. It just does great. It's not impacted by tariffs.”

“There's no real deal right now, but there is definitely some inbound.”

“At this point they're looking to go it alone”

“So I think for the next five to seven years, we're going to have more human drivers and delivery people just because we're going so quickly.”

“Waymo, Waymo is working with us now in Austin and Atlanta. So in Austin and Atlanta, if you're using Uber, ah, you can be picked up, ah, with a Waymo.”

“A little more, but it's between one and two percent.”

“10 years down the line, you know, there are these things called REITs, real estate investment trucks. You're going to have fleets. You're going to have financial owners that own big fleets of cars that are on our network, maybe on other networks.”

“Austin drivers now are making as much or more money than they were before we introduced Waymo.”

“So we have over 20 partners across both mobility and the delivery business.”

“Those two together we think can cover 50 plus percent of our delivery TAM, so to speak.”

“And I think as the cost of labor is going up all of these businesses are building, are investing increasingly in robotic station. It's not something that we are getting into.”

“The past 12 months we've had over eight and a half billion of cash flow.”

“So there are Baidu WeRide, Pony are all on the road today, no safety driver. We are partners with all of them.”

“But I think, you know, 10 to 15 years from now, this is going to be a real issue.”

“So we're, we actually work with Travis and his cloud kitchens business.”

“Between now and the end state, we will take balance sheet risk, because we can sign up. We know exactly how much revenue a car can produce in said market, because that, because cars are already producing revenue, so we can sign up for the revenue. We will prov…”

“Our different definition of safety is multiple times safer than a human being, which is achievable.”

“We're an investor in Joby and we are going to work with them as those vehicles become available.”

“You helped us with the investment in Uber. Sam Altman was in that group as well. He helped with an investment in a little company called Stripe.”

“You know, Meta peaked at 86,000 employees now at 75. Uber at 33, now at 31. And Amazon, where you would think you'd have a lot of growth here they're at, they peaked at 1.6 and now they're down at 1.55.”

“If you think about the average American citizen, you know, they have somebody in their family who drives for Uber or DoorDash, they have truck drivers, they have Amazon factory workers, and all those jobs are going away. It's just a matter of when.”

“They bought a data labeling company and they're taking the drivers and saying, hey, you want to do some data labeling over here and actually creating AI jobs for them.”

“In the Uber world early days, if you didn't have capital, it didn't matter how good your app was, because Masa is going to put a billion dollars into your competitor, and you're going to lose 20% market share tomorrow. So a critical competency, in fact, your w…”

“When I left Uber, 13% of all San Francisco miles were Uber miles.”

“In the end, the market is a weighing machine, not a popularity machine. No one remembers who went first, Google or Yahoo, Lyft or Uber”

“It was 17, but you know, no one's counting.”

“If you talk to Uber and Waymo in the cities where Waymo is present and has gotten past a couple of hundred cars, they've stopped recruiting drivers. Drivers are either static or going down in those markets.”

“Most people are incapable at this point of imagining a Waymo robo-taxi, an Uber self-driving car, and a robot getting out and bringing the packages to your doorstep. That's gonna happen.”

“Zipline just did a partnership with Uber. I'm investors in both of those companies, obviously, and they are going to do a million deliveries a day.”