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Is Dara Khosrowshahi's Charm Initiative (targeting drivers) Working?

Taxi2Rideshare

Active Member
It’s been over a year now since the ouster of Travis Kalanick, the man credited for creating the multi-billion dollar behemoth that just recently displaced Ford, GM and Fiat Chrysler in valuation. If you recall, his tenure was marred with unchecked megalomania that led to his frequent clashes with regulators, competitors, drivers, et al. Fortunately, his displacement means his ego-fueled tantrums will not be whitewashed easily as those of other so-called "legends" (Insert "Steve Jobs" here).

So, you ask, has his replacement, Dara Khosrowshahi, changed the anti-driver policies that plagued Kalanick? Well, to drivers, the answer is a resounding no. However, to the media, Khosrowshahi continues to do nothing wrong, something that perplexes me because his changes have been mostly symbolic.

Let’s look at his latest “pro driver” initiative. Just recently Uber announced plans to reward its “top” mules with online tuition from ASU, gas reimbursements and other perks. Nearly all articles I’ve read on the issue are unanimous, hinting at a step in the right direction. According to them, it’s some kind of driver rekindling. Free college and gas, right, what’s not to like? For one, the initiative has limited appeal: the articles don't mention it being outside the reach of most drivers, being restricted to Phoenix, Denver, Chicago, Tampa, Seattle, New Orleans and Orlando. Hence, my notion of the initiative being symbolic is not without merit. Were Uber interested in “rekindling” with drivers, it would take concrete steps at correcting our main gripes: job security and driver earnings. Under Dara Khosrowshahi, drivers continue to be fired over unsubstantiated claims by passengers with questionable motives (that are encouraged by Uber itself!). Under Dara Khosrowshahi, drivers have seen further decreases in wages (which the media fails to cover). Why not address these serious issues? (Hint: BUP = Money - Driver’s Pay).

Last year Uber paid millions in FTC fines over misleading promises on drivers’ earnings, an underhanded practice that no one in the media called fraud despite containing all the legal requirements of fraud (or fraudulent misrepresentation). Many drivers reasonably relied on Uber to their detriment: only after quitting their jobs to join the mule carousel did they learn the harsh realities of Uber and its anti-driver algorithm.

Yet, when Uber challenged SEC rules over driver compensation of common stock (like it couldn’t award other forms of stock if it seriously wanted to award drivers with stock), the media loved it because Uber, again under Khosrowshahi, showed some kind of rekindling with drivers.

Going by the media, relations between drivers and Uber are likely at an all time high….except that somehow, under Khosrowshahi, Uber has lost more drivers to Lyft than ever before.

So, yes, Dara Khosrowshahi’s charm initiative is definitely working, assuming you go by the media.
 
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gerg

Well-Known Member
You should be happy as an Uber stock owner.

If Dara gets his 120 million dollars bonus you will be even richer.
Yes, 50% in about 3 months is pretty good. I also own AMZN and will bash Bezos all day long. I've been boycotting Amazon for about 3 years in favor of Ebay. I see I've put the hurt on amzn
 
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Farman vegas

Well-Known Member
Yes, 50% in about 3 months is pretty good. I also own AMZN and will bash Bezos all day long. I've been boycotting Amazon for about 3 years in favor of Ebay. I see I've put the hurt on amzn
Glad to here you are making money with Uber Stock. Smart move on your behalf to buy it. I look forward to spending a few hundred hours looking at the future S-6 filing for Uber.

Snap Inc was an awesome short for our firm last week. Like taking candy from a baby. Almost no student loans left to pay off with that trade.
 

gerg

Well-Known Member
Glad to here you are making money with Uber Stock. Smart move on your behalf to buy it. I look forward to spending a few hundred hours looking at the future S-6 filing for Uber.

Snap Inc was an awesome short for our firm last week. Like taking candy from a baby. Almost no student loans left to pay off with that trade.
Congratulations. Yes, SNAP is a real dog, hard to believe it was at $20. Talk about a weak product.
 

Farman vegas

Well-Known Member
Congratulations. Yes, SNAP is a real dog, hard to believe it was at $20. Talk about a weak product.
Thank you.
I look forward to reading your post here when you sell your Uber stock. Do you have the standard 6 month clause so you cannot sell your Uber stock ?

I have never had the chance to see the actual term sheet that individual like yourself get when you get in as early investor with Uber. I have been told it is extremely lengthy term sheet in comparison to others and the forward projections for Uber are only viewable online. Was that the process you had to follow ?
 

Taxi2Rideshare

Active Member
  • Thread Starter Thread Starter
  • #10
Thank you.
I look forward to reading your post here when you sell your Uber stock. Do you have the standard 6 month clause so you cannot sell your Uber stock ?

I have never had the chance to see the actual term sheet that individual like yourself get when you get in as early investor with Uber. I have been told it is extremely lengthy term sheet in comparison to others and the forward projections for Uber are only viewable online. Was that the process you had to follow ?
I look forward to the upcoming correction in Uber's valuation. I especially look forward to seeing peddlers like you lose further credibility when calming fools like gerg over their "lucrative" investment.

Meanwhile, I'll continue with the popcorn as Uber loses more market share and drivers to competitors before even going public. 2019 might just be 2000 in the making.
 

Farman vegas

Well-Known Member
I do not know how new you are to this forum but Greg usually posts early in the morning here. He has posted on this forum for a long time. If you spent time reading his post he has the same viewpoint as you do. But he saw the opportunity for the trade and was able to separate this personal feeling about TK and make the trade. Greg brought his Uber stock at 39$. He is a high net worth individual. The SEC requirements are in place for him to own Uber stock because the of the high risk. That is his choice as a trader and he like everyone else owns the risk and outcome of the trade.

Greg has said for countless times TK will be placed in prison or live in impoverished nation in exile. I am sure Greg would be delighted to talk to you about the “long straddle” he will use against Uber in the future if you pm him on this forum.
 

gerg

Well-Known Member
I do not know how new you are to this forum but Greg usually posts early in the morning here. He has posted on this forum for a long time. If you spent time reading his post he has the same viewpoint as you do. But he saw the opportunity for the trade and was able to separate this personal feeling about TK and make the trade. Greg brought his Uber stock at 39$. He is a high net worth individual. The SEC requirements are in place for him to own Uber stock because the of the high risk. That is his choice as a trader and he like everyone else owns the risk and outcome of the trade.

Greg has said for countless times TK will be placed in prison or live in impoverished nation in exile. I am sure Greg would be delighted to talk to you about the “long straddle” he will use against Uber in the future if you pm him on this forum.
I'm impressed you have a knowledge of option trading. Its very likely this will gap either way in a big way, so straddle makes sense. There's always that nice bump before an ipo opens. Too much sports being played to think about this.
 

UbeRoBo

Active Member
Dara is a stooge. He has done absolutely nothing to improve pay and terms for drivers. It's been nothing but a downward slide with regards to driver earnings and working conditions. Only a fool would drive for those nonsense rates and terms. Enjoy
 

jafi_112

Well-Known Member
Dara is a stooge. He has done absolutely nothing to improve pay and terms for drivers. It's been nothing but a downward slide with regards to driver earnings and working conditions. Only a fool would drive for those nonsense rates and terms. Enjoy
Dara is a stooge? Can we be a little bit more descriptive? How about a six figure making stooge whose quest (bonus) will total more than a year of an Uber driver's wages. Yeah, he's a real idiot.
 
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