This Week in Startups

Katerra’s collapse, Bill Ackman’s SPAC merger plus Uber CEO Dara Khosrowshahi | E1226

Jun 4, 2021
Dara Khosrowshahi, CEO of Uber, shares insights into the company's growth and evolution in the gig economy. He discusses the rise of 'slingshot startups' and the impact of Katerra's collapse, emphasizing the need for transparency in financial reporting. Khosrowshahi also highlights the flexibility and safety challenges for gig workers, and how Uber is innovating with delivery services like Uber Eats and Uber Freight. The conversation touches on strategies to attract drivers and adapting to changing market dynamics in ride-sharing.
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INSIGHT

Overfunding Risks

  • Overfunding startups can lead to mismanagement and unrealistic growth expectations.
  • Katerra's rapid expansion, fueled by SoftBank's investment, ultimately contributed to its downfall.
ANECDOTE

Katerra's Collapse

  • SoftBank-backed Katerra, a construction startup, shut down after raising $2 billion.
  • The company allegedly exaggerated financial reports, leading to investigations and the CEO's resignation.
ADVICE

Honesty with Investors

  • Be honest and transparent with investors.
  • Avoid exaggerating or "massaging" the truth, especially when selling securities.
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