The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Uber's Journey to Becoming the Most Valuable Private Tech Company in History, Raising $3BN From Saudi in Just 60 Days, Uber's $30BN Mistake in Food Delivery, Why Recent Uber M&A Will be the Worst in Tech & Mastering Negotiations and Deal-Making with

27 snips
Oct 24, 2022
Emil Michael, former Chief Business Officer at Uber, shares his incredible journey from politics to Silicon Valley. He reveals the nuances of Uber's rapid growth, including raising $3BN from Saudi investors in just 60 days. Additionally, Emil offers insights on pivotal negotiations, including how he convinced Microsoft to triple their offer for TellMe. He discusses lessons learned from Uber's M&A challenges and emphasizes the emotional intelligence needed in high-stakes deals, making for a captivating conversation on the intricacies of venture capital and leadership.
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ANECDOTE

TellMe Networks Acquisition

  • Emil Michael secured an $800M acquisition deal with Microsoft for TellMe Networks after a weekend-long negotiation with Steve Ballmer.
  • Initially, the offer was $300M, but Emil's persistence and determination led to a significant increase.
ADVICE

Negotiation Preparation

  • Thoroughly research your counterpart before any negotiation, understanding their motivations and potential weaknesses.
  • Gather information about their company, industry, performance, and even personal incentives.
ADVICE

Emotional Control in Negotiations

  • Remain emotionally detached during negotiations, acting as a "shock absorber" to the other party's emotions.
  • This allows you to stay rational and capitalize on their mistakes.
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