FT News Briefing Travis Kalanick’s excellent (and secret) venture
Sep 21, 2022
The Federal Reserve is poised to raise interest rates, sparking conversations about economic implications. Goldman Sachs is stepping up its transaction banking efforts in Europe, aiming for new revenue streams. Meanwhile, Travis Kalanick is quietly expanding his 'dark kitchens' venture across Latin America, cleverly evading media attention. This innovative concept is designed to cater to the booming food delivery market by securing key kitchen locations, all while Kalanick navigates the challenges of a changing public image.
AI Snips
Chapters
Transcript
Episode notes
Goldman's New Venture
- Goldman Sachs is expanding into transaction banking in the EU, a less volatile business.
- This move aims to balance the firm's high-risk, high-reward investment banking activities.
Kalanick's Comeback
- Travis Kalanick, ousted from Uber five years ago, is now building Cloud Kitchens, a food delivery business in Latin America.
- It operates "dark kitchens" that produce food solely for delivery apps.
Secrecy at Cloud Kitchens
- Kalanick is secretive about Cloud Kitchens, avoiding press and banning employees from speaking to media.
- He's paranoid about negative scrutiny similar to what led to his Uber ousting.