Travis Kalanick, best known as the former CEO and co-founder of Uber, has announced a new project of his: an investment fund entitled 10100 (which is pronounced “ten-one-hundred” because it makes zero sense just written out). Kalanick explained that the fund will concentrate on his “passions, investments, ideas, and big bets,” whatever that means.
He indicated that he plans on using 10100 in order to work on job creations in countries like China and India through investments in “real estate, ecommerce, and emerging innovation.”
Some news… pic.twitter.com/urFBrb9aCV
— travis kalanick (@travisk) March 7, 2018
Kalanick has still been fairly active within Uber despite having stepped down from his position in the summer of 2017, as he still controls a fair number of board seats. However, the ride-hailing company has still been facing controversy after controversy for a while now, such as a huge scale data breach, sexism/racism in the workplace, and insanely overcharged rides.
However, Kalanick may have lost a great deal of his power within Uber as a result of his shares being diluted following a recent agreement with Japanese telecom SoftBank. This being the case, it’s pretty reasonable for us to believe that 10100 is a result of Kalanick not being a big part of Uber anymore. His power is running out, so he decided to make something all his own which he can rule over. Yeah, that’s a pretty big piece of speculation at the moment, but it kinda makes sense, right?
[via The Verge]