The former CEO and co-founder of Uber, Travis Kalanick, today announced a new investment fund that will call 10100, which will pronounce "ten and a hundred", which will focus on their "passions, investments, ideas and big bets." The theme of the fund, he says, will be large-scale job creation with a focus on real estate, e-commerce and innovations from countries such as China and India. "Our non-profit efforts will initially focus on education and the future of cities," Kalanick writes. The announcement was made on Twitter this afternoon with a prologued note from Kalanick that said simply, "Some news …"
Since Kalanick resigned from Uber in July of last year, he remains an inordinate influence on the daily operations of the race giant thanks to the seats on the board that Kalanick controlled as part of the deal he cut with the company along with his resignation. . The company, under current executive director Dara Khosrowshahi, has only continued the controversy following the controversy related to the way Kalanick and his lieutenants structured and directed the company since its founding in 2009. Those incidents include a lawsuit for theft of trade secrets of Waymo, owned by Alphabet. that reached a surprise agreement last month, and a cover-up of a massive cyber attack that exposed the data of 57 million drivers and drivers.
However, in a recent agreement with Japanese Telecom SoftBank, Uber's power structure changed, diminishing Kalanick's control over the Uber board by diluting its shares and granting SoftBank control of two boards of directors along with a change in the voting power of the shareholders.
So while it's not clear how long Kalanick has been planning the launch of 10100, it seems to somehow suggest an admission by the Uber co-founder that his role as a Machiavellian backstage player in the company comes to an end. Without the voting power and control of the board that he enjoyed immediately after his overthrow, Kalanick can not maintain control over Uber while continuing without him, especially not as his current CEO agrees to change the company.
Here is the complete Kalanick announcement message:
In recent months, I have begun to think about what will come next. I started making investments, joining together, working with entrepreneurs and non-profit organizations. Today I am announcing the creation of a fund called 10100 (pronounced "ten-one-hundred"), the home of my passions, investments, ideas and big bets. It will monitor my investments for profit, as well as my non-profit work.
The main theme will be on the creation of large-scale employment, with investments in real estate, electronic commerce and emerging innovation in China and India. Our non-profit efforts will initially focus on education and the future of cities.
For anyone who wants to go to work, send an email to firstname.lastname@example.org.