This kind of story is premature in its conclusions, and Puliatti certainly hasn’t taken time to understand the full scope of what’s going on at Uber, if he is already convinced never to take Benchmark funding. Having been on all sides of this type of crisis, the villains are still to be determined.
Gabriel Puliatti is an up-and-coming company CEO who, at some point in his career, will need to raise money from investors. Don’t count on Benchmark Capital being one of them. After Benchmark filed an unprecedented lawsuit against Uber’s former CEO on Thursday, Puliatti now says there is “no way” that he will accept an investment from one of Silicon Valley’s most prestigious venture capital firms.
Source: Some startup founders are ‘nervous’ about dealing with Benchmark after it sued Uber – Recode
Even if Benchmark is not successful, this will hopefully send a signal to founders that they cannot treat investors as a disposable resource, taking money and then freezing them out. The underlying assumptions by founders that they alone know what should be done and are never wrong are corrosive and need to end.
Source: Uber’s Kalanick Should Lose His Board Seat, for the Good of Tech | Inc.com
FlipKart, an Indian ecommerce company, comes out of this transaction with $4B in cash.
Flipkart, India’s leading e-commerce marketplace on Thursday announced an investment — a mix of primary and secondary capital — from SoftBank Vision Fund, the world’s largest technology-focused investment fund.”This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart,” the company said in a statement.
Source: Flipkart raises fresh capital from Softbank – The Hindu
Here’s an example of mixing local access, technology (in this case, health tech), and human services in the form of expertise.
In fall 2016, Vechery left her job as product manager at genetic testing company 23AndMe and teamed up with Carly Leahy, who’d just developed UberHEALTH, the transport giant’s flu shot delivery program. This Wednesday, the two launched Modern Fertility, a women’s health company that aims to democratize and simplify fertility testing by offering $149 at-home tests — the first of their kind, according to Vechery and Leahy.
Source: Former Uber, 23AndMe Execs Launch Fertility Startup Offering $149 At-Home Tests
Value vacancies, as defined in “Digital Vortex: How Today’s Market Leaders Can Beat Disruptive Competitors at Their Own Game,” are those categories in which the competition hasn’t caught up to opportunity. Amazon has exploited these opportunities time and time again in publishing, apparel and sporting goods — with well-documented success. Now, the groceries segment, too, has fallen squarely into Amazon’s crosshairs.
Source: What the Amazon Whole Foods Acquisition Has in Store for Supermarkets: Digital Disruption
This is the cab industry without medallions. Car rental for on-demand drivers.
Maven Gig is an agnostic platform that allows members to earn money by driving for multiple apps. Previously, Maven Gig announced key partnerships with GrubHub, Instacart, Roadie and ridesharing services. Now, HopSkipDrive is added as a partner.
Source: Maven Gig Expands Across the United States | 08/10/17 | Markets Insider
The study, compiled by the University of Michigan Transportation Research Institute, Texas A&M Transportation Institute and Columbia University, focused on Austin, Texas, where on-demand services like Uber and Lyft pulled services due to a local ordnance. The study found that 41 percent of 1,200 people surveyed said they used their own car to fill the void left by Uber and Lyft, and 9 percent purchased a vehicle for this purpose.
Source: Consumers May Buy Fewer Cars in Areas Served by Uber, Lyft: Study | Technology News | US News
Here’s a real-world example of a corporate narrative taking a stand against hate speech. It will surely be controversial, and the targeted group, white supremacists, are going to complain loudly. There will be boycotts. AirBnB seems to have the nerve to live its principles, but this will be a real test of the unification of personal and corporate values
In anticipation of a white supremacist rally scheduled for this Saturday in Charlottesville, Virginia, Airbnb has started deactivating accounts of people it believes are booking units to host gatherings related to the rally.
Source: Airbnb Is Deactivating Accounts Of People Trying To Attend A White Supremacist Rally
Delivery is the hottest thing in the restaurant business right now — but as many restaurants are finding, the trouble is keeping it cold. Or crisp, in the case of french fries. Or warm, in the case of pho. Eager to join a booming food- and restaurant-delivery market, dozens of third-party services have sprung up to address those logistical challenges. Food delivery is already a $43 billion business — and will be worth $76 billion by 2022, according to an analysis by Cowen and Co., an investment banking firm.
Source: The insane $43 billion system that gets food delivered to your door – The Washington Post
“Our end goal at Instacart is to make this service cost as much as a cup of coffee. Right now, it’s a little bit of a premium service but eventually that’s where we want to get, to offer this service to everyone.”
Source: Instacart to add other retailers for local, same-day delivery | WXXI News