Am I the only one who remembers the governance failure and toxic workplace culture at uber that rocked everyone less than 10 years ago? Or is this founder worship of Silicon Valley that I haven’t caught on yet?
What am I missing amidst these cheers?
Or does the ability to create stunning businesses (and hence wealth) have more value than one’s regard for human life?
Please help me see what I am missing , beyond the pragmatism of real world.
It’s almost feels like A16z would go and fund Adam Neumann after the governance failure at WeWork (where he sold the trademark “we” for the name to his own company for 5mn).
Oh wait, A16Z actually did that. Invested 350Mn in his new startup called flow.
Nobody is taking that away from him. But he was ousted by the board after multiple investigations proved that (a) uber had institutionalised workplace harassment suppression, (b) completely and knowingly flouted regulations (remember the kill switch used during raids?).
Atoms (or pronto) already have got similar cases ongoing (harassment as well as partner exploitation).
So the question becomes : at what point would you value human-worth more than money? And why is this investment hailed as return of a hero when he is clearly not one. May be a sharp operator or even a visionary, but not a hero, for sure.
May be if this article highlighted their focus on governance along with investment it would have been more assuring. Clearly not - because the dollar glasses are on.
I hear you completely, this article highlights a lot more and maybe you could give it a read here. I'm not able to comment from the Think Tankk ID hence sending it from my personal one.
You're celebration of “self-creating realities” is the Silicon Valley reality distortion field for what is actually creating the new Pharoah/slave society. How many Uber drivers were able to advance thru the barrier of the algorithm and advance their lives within the company? If it is 1% I'd be shocked. Uber drivers started off benefiting from the gig economy, but I haven't heard happy comments from Uber drivers in years. I don't see a whole lot of "thriving" except for Uber management. Similarly with his ghost kitchens and now this. All the "thriving" looks like a repeat of business models that simply consolidate wealth rather than improve people's lives.
Love the section around rewriting the story of AI’s potential. What gets me excited is the thought of AI compressing the next 100 years of biomedical breakthroughs into just a few years. Of course there are very serious risks, but I believe it’s just as likely that we could be entering a new renaissance.
First, I want to point out that I don’t want to level this specifically at @Ben Horowitz - he’s not at all the standard VC, and he and his wife have been incredibly active helping underrepresented founders and investors.
This is more about the fund itself, and Travis Kalanick, which happens to be what Ben is posting about here.
Second, this same claim could be made of Sequoia, or several other top VCs.
—-
Why does a16z continue to back the same type of founders?
A16z loved Adam Neumann, another toxic workplace founder, who got rich at the expense of investors. Then it publicly backed him AGAIN for Flow (which has changed idea five or six times, according to news articles, depending on trends).
A16z loved Basis, which failed spectacularly, then backed both founders in two epically bad scams (both of which I called) in BitClout and TerraLuna. For TerraLuna, the founder even said it was going to “exactly like Basis” - which failed!
A16z’s team adored Sam Bankman Fried, with no board, no verified financials, a mess of a culture, and we know how FTX turned out. FTT was required as a purchase for investment- and that didn’t trigger alarms for any investors about the collateral market? Would the firm back him again out of prison?
And here, again. Travis Kalanick created a highly toxic company that couldn’t turn a profit on rides until 2021 - 4 years after Kalanick was forced to leave. And that profit is derived from eroding the thing that made the taxi industry work: ensuring a living wage for drivers.
Atoms is the result of his failed restaurant end of his ghost kitchen company, Cloud Kitchens, isn’t it?
What is it about these men that inspires top VCs to give them opportunity after opportunity, when there are so many other founders who have not failed and could use this kind of support?
Ben may not read this, but others should be aware that VCs are, in fact, quite fallible.
They’re simply people with access to wealth. That’s all.
The media’s love of them, and some sectors’ near-worship of them, is based more on access to money and the hope that it is contagious, rather than stores of wisdom.
There are great VCs, and there are brilliant VCs, but simply being a VC does not make you either.
"The backdrop to company-building today, unfortunately, is that a lot of people out there think AI shouldn’t exist, or shouldn’t be built by private companies, or other stances like that that are plain wrong. "
----
This is primarily for one of two reasons, which are:
1. Fear of the technology
2. fear of losing their place in the world
Too many books and movies about AI tend toward the dystopian, when they should be embracing the unlimited abundance coming our way and thinking of utopias.
Am I the only one who remembers the governance failure and toxic workplace culture at uber that rocked everyone less than 10 years ago? Or is this founder worship of Silicon Valley that I haven’t caught on yet?
What am I missing amidst these cheers?
Or does the ability to create stunning businesses (and hence wealth) have more value than one’s regard for human life?
Please help me see what I am missing , beyond the pragmatism of real world.
It’s almost feels like A16z would go and fund Adam Neumann after the governance failure at WeWork (where he sold the trademark “we” for the name to his own company for 5mn).
Oh wait, A16Z actually did that. Invested 350Mn in his new startup called flow.
What you're missing is someone who created a category which never existed.
Imagine 10-15 years before you touch a glass and you can get a sedan outside your door.
Same with Uber Food, Uber Logistics etc.
He's doing the same with Atoms.
Nobody is taking that away from him. But he was ousted by the board after multiple investigations proved that (a) uber had institutionalised workplace harassment suppression, (b) completely and knowingly flouted regulations (remember the kill switch used during raids?).
Atoms (or pronto) already have got similar cases ongoing (harassment as well as partner exploitation).
So the question becomes : at what point would you value human-worth more than money? And why is this investment hailed as return of a hero when he is clearly not one. May be a sharp operator or even a visionary, but not a hero, for sure.
May be if this article highlighted their focus on governance along with investment it would have been more assuring. Clearly not - because the dollar glasses are on.
https://thinktankk.substack.com/p/travis-kalanick-built-uber-by-breaking
I hear you completely, this article highlights a lot more and maybe you could give it a read here. I'm not able to comment from the Think Tankk ID hence sending it from my personal one.
Wow. The sheer arrogance and alternative version of reality in this piece is jaw dropping
You're celebration of “self-creating realities” is the Silicon Valley reality distortion field for what is actually creating the new Pharoah/slave society. How many Uber drivers were able to advance thru the barrier of the algorithm and advance their lives within the company? If it is 1% I'd be shocked. Uber drivers started off benefiting from the gig economy, but I haven't heard happy comments from Uber drivers in years. I don't see a whole lot of "thriving" except for Uber management. Similarly with his ghost kitchens and now this. All the "thriving" looks like a repeat of business models that simply consolidate wealth rather than improve people's lives.
Many Uber drivers learned that talking bad about the company results in more sympathy tips.
Uber drastically improved my life by allowing me to not need to own a car.
Love the section around rewriting the story of AI’s potential. What gets me excited is the thought of AI compressing the next 100 years of biomedical breakthroughs into just a few years. Of course there are very serious risks, but I believe it’s just as likely that we could be entering a new renaissance.
A16Z has lost its damn mind.
Is this a mashup of Palantir X Symbotic?
Amazing. Some people see the future and ask why. Travis sees it and says, "Why not?"
A recent episode of the All-In Pod gave me a glimpse of what is coming... buckle up!
And indeed, welcome back, Travis.
You are right: "We need to tell a better version of the optimistic AI story"
Optimism is the key!
lol
First, I want to point out that I don’t want to level this specifically at @Ben Horowitz - he’s not at all the standard VC, and he and his wife have been incredibly active helping underrepresented founders and investors.
This is more about the fund itself, and Travis Kalanick, which happens to be what Ben is posting about here.
Second, this same claim could be made of Sequoia, or several other top VCs.
—-
Why does a16z continue to back the same type of founders?
A16z loved Adam Neumann, another toxic workplace founder, who got rich at the expense of investors. Then it publicly backed him AGAIN for Flow (which has changed idea five or six times, according to news articles, depending on trends).
A16z loved Basis, which failed spectacularly, then backed both founders in two epically bad scams (both of which I called) in BitClout and TerraLuna. For TerraLuna, the founder even said it was going to “exactly like Basis” - which failed!
A16z’s team adored Sam Bankman Fried, with no board, no verified financials, a mess of a culture, and we know how FTX turned out. FTT was required as a purchase for investment- and that didn’t trigger alarms for any investors about the collateral market? Would the firm back him again out of prison?
And here, again. Travis Kalanick created a highly toxic company that couldn’t turn a profit on rides until 2021 - 4 years after Kalanick was forced to leave. And that profit is derived from eroding the thing that made the taxi industry work: ensuring a living wage for drivers.
Atoms is the result of his failed restaurant end of his ghost kitchen company, Cloud Kitchens, isn’t it?
What is it about these men that inspires top VCs to give them opportunity after opportunity, when there are so many other founders who have not failed and could use this kind of support?
Ben may not read this, but others should be aware that VCs are, in fact, quite fallible.
They’re simply people with access to wealth. That’s all.
The media’s love of them, and some sectors’ near-worship of them, is based more on access to money and the hope that it is contagious, rather than stores of wisdom.
There are great VCs, and there are brilliant VCs, but simply being a VC does not make you either.
"The backdrop to company-building today, unfortunately, is that a lot of people out there think AI shouldn’t exist, or shouldn’t be built by private companies, or other stances like that that are plain wrong. "
----
This is primarily for one of two reasons, which are:
1. Fear of the technology
2. fear of losing their place in the world
Too many books and movies about AI tend toward the dystopian, when they should be embracing the unlimited abundance coming our way and thinking of utopias.
Food to mining is a huge leap. The shared primitives make sense. One operating model across all three is harder to buy.