Uber CEO, Travis Kalanick Resigns - How To Step Down From A $70 Billion Company, That You Also Founded

It's been cooking for a while, if you really look at the news. During last year I saw at least 3-4 reports about Uber's toxic culture and about the potential problems at the head of the company.

I'm no insider to this story and I have no idea what's really happening inside the ride-sharing company, all I'm doing is citing this article from Tech Crunch.

Kalanick will continue to hold a position on Uber’s board of directors, according to a statement from the board given to TechCrunch.

“Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber. By stepping away, he’s taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber’s history. We look forward to continuing to serve with him on the board.”

Kalanick announced just last week that he was taking a leave of absence from the company following the release of a report into Uber’s toxic company culture by former Attorney General Eric Holder.

Last Uber valuation was around $70 billions dollars.

On a side note, this workflow has been noted in many other companies, where the founder had to leave following the pressure of investors. Even Steve Jobs did that, at some point, and he started NeXT, only to come back years later with the iPod, iTunes and, well, the rest is history.

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The problem with Uber is expanding too fast and not understanding and accepting geographical cultural differences, this led to issue especially in Asia: India. Thanks for sharing.

Our very own Dan has done the same thing to come with "EOS".. these people will turn anything into gold...

Yes, that's a very good reminder about Dan's new venture...

Its is mainly about them condoning sexual harassments, driscrimination and bulling..
There is even a 13 page report on this

Its summed up in one word. Inexperience!
They had a great idea that turned into a money making machine, and didn't take care of business. If you don't set ethics, standards, and company policy, and follow them from the top down, This is what will happen every time.
Wells Fargo is another example, look what is happening to them. It all started at the top.
Great post look forward to more. I will follow you.
I'm new here and just getting started on steemit.

I think in general its best to leave on your own terms if possible. For most CEOs, you probably don't want to be forced out.

The investors have forced him to resign @dragosroua. But he'll still have a lot of influence on Uber since he holds a big chunk of the shares.

And Uber still is not profitable... I think that fact plays a big role in investors pressure

Definitely seems like this guy was getting increasingly unhinged. Uber itself is a failure so far, in my opinion. The drivers make crap, especially once you account for depreciation. Uber corporate burns ridiculous amounts of money and are only able to operate due to illegality (no commercial insurance, no taxi certification - not that I'm saying those are good things). If they ever get regulated, considering they are already burning billions of dollars a year, they are totally screwed.

For the rapes that have happened in the cabs it's better to step down and live in peace.

Thanks for sharing !