. -- travis kalanick. across metropolitan areas, in london, over100 travis kalanick.as, in london, over 100 dark kitchens. what is a dark kitchen? it sounds a bit shady. itjust means a kitchen that is going to supply food for people but doesn't have anywhere for people but doesn't have anywhere for people but doesn't have anywhere for people to sit. it is strictly ta keaway for people to sit. it is strictly takeaway and delivery. it will be interesting because this will potentially of course compete with uber eats, an offshoot of a company he founded and in the same spaces deliveroo. it will be interesting. ca rs deliveroo. it will be interesting. cars fitted with devices so we can't go over the limit. nanny state are important go over the limit. nanny state are im porta nt safety go over the limit. nanny state are important safety measure? the concept and intention is real well—founded. we have speed limits. why do we let the cars or drivers go faster? it will be interesting to see how it's implement it. technology already exists. the devil is in the detail. thank yo

out kitchens .pace it puts were in competition with the startup by co-founder and board member travis kalanickic newcomer joins us now to talk a little more about it. this is apparently enough of the thing that you have the former man who ran uber and cofounded it now competing with his former company in the space. >> were still trying to get the language. virtual restaurant, you have travis with his cloud kitchen business. they are running sort of a kitchen facility for restaurants that want to deliver quickly and quickly spin up those kitchens. serversyou can get quickly, now you can get a restaurant quickly. uber is similarly experimenting with that idea in paris on their own. exist now, like if i order something tonight, could it be that i don't know if i'm ordering from a cloud kitchen or virtual restaurant? >> for sure. in l.a..business is they will expand to san francisco and chicago and keep growing. there is the potential that you are ordering without knowing from delivery or arrest right. caroline: i heard about this a while ago. ber has been rumored to eyeing buying another company

travis kalanick stepped down, and changes like expanding the size of the board. another important difference uber has a 17 person board, lyft goes public with just ten members on the board back to you. >> thanks. roger, is this going to be a big litmus test for the founder control? logan green, john zimmer will have 20 votes per class b share. didn't work out well for investors with snap, right >> we can only hope. this has to end. it's just really bad for corporate governance, really bad for capitalism >> what would end it >> at some point we have shareholders have to step up and say this is not okay and exchanges have to follow but it has to start with the shareholders who to date have not yet mustered any real powerful effort. >> did google start it because bezos doesn't have founder control, larry ellison at oracle doesn't. there was a time this wasn't the thing. >> media companies had it for a long, long time. >> newspaper companies >> if you think back, that's where i know it from i believe it was a thing that kleiner perkins and sequoia gave google and tha

andreally confirms the narrative that it has benefitted from uber's drama and missteps during the travis kalanick era lyft confirming it will give drivers away to get access to its ipo and confirming a dual class structure but doesn't give any details. a source tells me though john zimer and logan green have less than 50% of the voting power and there will be a sunset provision. the last thing, kelly, i want to point out, the biggest winners from the ipo outside of the company, gm and fidelity >> deirdre, thank you, deirdre bosa in san francisco. let's bring in bob pisani from the floor of the new york stock exchange we expect 2019 to be a big year for ipos, open the flood gates and what does lyft tell you about how other ipos could be structured >> reporter: the initial numbers actually look surprisingly good. revenue $2.2 billion that seems higher than other people's estimates that i had. first impression is positive dual structure bothers me. we talked about this for many years, melissa, but generally, the idea is the investor buys into a company, the right to the price appreciation and earnin

travis kalanick tried to buy this company in 2014 do you remember remember that?s a true story. >> he confirmed it as well do you remember what you told them then? >> i thought we shouldn't sell i thought that -- i thought the offer wasn't appropriate for the quality of the company. >> it was valued at $5 billion then, maybe even less. >> i think he was offering like 5% of the company, if i recall correctly. >> he was offering 5% of uber. >> or maybe less, but 5% or less uber, yes. it wasn't $5 billion he might be saying 5 billion in today's dollars because uber is worth 100 now. >> right. >> fair enough, but i think we're trading above that. >> you are trading above that. >> and we will see where it starts trading this morning. thanks for coming in this morning. >> thanks very much. >> stay where you are, guys. i'm going to send it back to you? thank you, andrew, and thank you ben. andrew, we'll check back with you throughout the morning including the next hour when you'll be joined by another early lyft investor geoff lewis. as we await the first trade on lyft,

software and real world operations >> i have to ask about this given the value back in 2014, travis kalanicktell us what he offered you? because i know back then, you didn't take the deal >> no, i don't think we can comment on that. >> you can't tell us what it was worth back then? i mean, i assume today you have to be very happy you didn't take the deal >> very happy. >> let's go to this which is about workers. we're here in the drivers center right now. you're trying to do a lot for drivers. but there's also a larger debate in this country right now about the idea of contracted workers there's also shifting political winds in this country as well in terms of what's going on with labor, if you will >> yeah. >> what do you think is going to happen and how -- what could that do to your business if at some point along the way the political winds shift in such a way where they say to you, you know what? all these drivers, they actually have to become employees >> i think the important thing is even over the last year, the lyft platform created 1.5 million flexible jobs. and the majority 91% of

single investor in uber, significant stake that was taken in part during a lot of turmoil when travis kalanick on the way out, but things have calmed down at that company under the leadership, and they're awaiting the upcoming ipo which may be, let's see, fairly soon, what many people believe for uber which could be a pay day to some extent for the vision fund, althoughmr. son indicated perhaps not. we did talk a lot about uber and as well the rise of autonomous driving and whether that will prove to be a more profitable uber when that hits years from now in the future. >> i definitely think so the autonomous driving is coming no matter what, okay that's a technology. that's a destiny of where technology is going to drive us. when the autonomous driving comes, the cost of providing dramatically get more efficient. it was dramatically reduced, rate of accident compared to human driving accident i think that would be definitely coming very, very soon >> and do you see yourself wanting to be a long term shareholder of uber, you mention an ipo is coming, there will be opportunity to monetize some