person who spearheaded that acquisition which might cost uber $100 million, is still on the board, travis kalanicki asked you this on i.p.o. day. do you question travis' position on the board? dara: i think that i am going to live in the here and now. travis has an incredible amount of historical knowledge about the company. he's incredibly bright, as are our other board members and i use him at the board -- he's a very strong adviser and his background on the company is incredibly useful and i think he's supportive. ultimately now we're a public company and the shareholders are going to get to pick their own board and that governance process will take care of itself going forward. emily: you talk to him often? dara: i talk to him during board meetings and once in a while offline, absolutely. emily: he's on the board for now? dara: he's on the board for now and will be on the board tomorrow. fast forward 10, 15 years from now, autonomous is going to be a huge part of how people get around. it will be cheaper, it will be safer. why not invest now. ♪ emily: let's talk about the future, then. to thos

travis kalanick. and even you have admitted you were the unlikely dark horse, even accidental choice. so two years later, did they make the right choice, and did you make the right choice? dara: [laughs] i know i made the right choice, and i hope they made the right choice. i'm confident that they did. you can never prepare yourself for a job like this, and uber is a once-in-a-generation company. but it has been a great two years for us. we have resolved all of the governance conflicts that the company had. there were many legal issues that the company was involved with, as well. we got softbank in as a partner, and you want softbank to be behind you and a big partner and big investor, and we have a great investor base. we have taken the company public, and the company revenue, gross bookings, have grown 75% since i joined. we now have a path to profitability, i believe. so while we've had bumps on the road, and every adventure has bumps on the road, i like where we are, and i especially the position

and stewart butterfield is the corollary, opposite to adam neumann or travis kalanick story.now, i don't want to get too far ahead of myself, but i think that someone like stewart butterfield comported himself in a way that's visionary and business like, and there's proof you can be both. >> turning to netflix -- >> i was going to say he hasn't hit pot in the cereal box at least. >> okay. turning to netflix, that's going negative for the year, more competitors rush into that space. the cover story on netherlands that covers the bet on original content, women that are leading the charge tell us about it >> it is interesting obviously we have seen netflix go through pivots in the past, they have been technological pivots, move to streaming is the biggest one probably now netflix is finding itself in a very different place where content is king. you have all of the other streaming services coming out. a lot of them priced at lower price points than netflix is offering it finds itself having to compete on content and part of its strategy is it hired on diverse group of people to

. ♪ emily: 10 years ago, travis kalanick and garrett camp launched uber cab, an elite car service in five years, uber had a shortened name and completed one billion rides. two years after that, the number grew to five billion across 600 cities and 70 countries. it became one of the fastest growing start-ups ever. services ballooned to cover nearly all modes of transportation, carpool, helicopter, even water taxi. all that growth came with many challenges.

[applause] ♪ ♪ emily: 10 years ago, travis kalanick and garrett camp launched uber cab, an elite carfrancisco. within five years, uber had a shortened name and completed one billion rides. two years after that, the number grew to five billion across 600 cities and 70 countries. it became one of the fastest growing start-ups ever. services ballooned to cover nearly all modes of transportation, carpool, helicopter, even water taxi. but all that growth came with many challenges. regulators and taxi drivers protested uber's expansion.

travis kalanick twitter's jack dorsey group bonds andrew mason oculus is palmer luckey and yahoo's jerry yang to name a few with the company now facing a facing a cask and cash crunch as it loses nearly 300 dollars a month it only has a runway of about 5 months it is now turning to soft bank its biggest investor for an increased lifeline soft bank is now considering doubling down on their bet on the company after having plowed more than $9000000000.00 in already a new $1500000000.00 lifeline would help to open up fresh financing options for we work after its upcoming fell apart. given its uncertain future when we work is looking to cut costs and we're going to fire thousands of poison and potentially shut down its peripheral businesses managed by we company. by q q. was acquired by we work earlier this year in april for about $250000000.00 tempted to business in itself as a tech company. time now for a quick break but here because when we return. the british american. model and. the tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has

think that ultimately is what did it meant and been the comparison that cries out here is perhaps travis kalanick of goober boob are obviously in there and they made a fair but not without major drama what are the parallels between this we were case and case and what does this apparent repeat of this cycle suggest about the cutting edge of capital is culture in 2019. well i think there's some big differences between what happened with travis and what's happening with adam and largely because again look travis was also a very visionary person there's no question about it he still lives and since he's left it where he has started up a venture fund where he's still investing in 2 big idea companies he says profits and for profit and nonprofit companies but again the difference here is you had in travis kind of this reputation of being a bro right he had this reputation of somebody who was very kind of loose with the way he talked to people the sexual harassment within his company was that he was going to korean escort services on the company dime so you have all these these personal issues that he w

some viewers they remember was also instrumental in the ousting of travis kalanick from uber.t nevertheless remains, at least softbank and benchmark are in favor of getting adam neumann out as ceo. taylor: support seems to be wavering a little bit. ellen: it has been an about-face. softbank has been a staunch supporter. they have been the only investor since 2016, pouring tons of money into this company. their chairman has shown a lot of support for adam. they have been portrayed in the media as kindred spirits. it seemed like they had been aligned on the incentives, the purposes and goals of the company, and now it seems like the support is shifting. taylor: we thought we would get that board meeting today, on monday, we didn't. anything on what we can expect this week? ellen: we have been trying to report the latest developments. we will be looking for this meeting. i don't anticipate it will be decided in one day. this is a huge change for the company. a ceo who has been a co-founder since the very beginning. ideas, vision, personality. similar to uber, very hard to separat

washmark was the firm that agitating against travis kalanick at luber. certainly have a playbook to work with. the question will be, does adam neumann hold on here? he has more power because of the corporate governance structure ubertravis kalanick had it who has. vonnie: who has expressed support for adam neumann, and could he win? guest: that is what we are trying to figure out. there is a company in asia that has a board seat, there are also two other seats who are real estate investors. we are trying to figure out who backs him. he certainly made money for others of involved early in the company. lesson here the regarding companies coming from the private sector into the public sector? this is in the first time it is happened with uber, and it is happening with a number of companies as well. are we seeing a devolution, our founders capable of making this transition? company structures based around our full founders, are they capable of making these transitions? guest: we haven't seen an extreme drop in valuation. this is the biggest discrepancy to 10

that acquisition which might cost uber hundreds of millions of dollars is still on the board, travis kalanick. i asked you this on ipo day and i feel i have to ask it again, do you question his position on the board? dara: i think that i am going to live in the here and now. travis has an incredible amount of historical knowledge about the company. he is incredibly bright, as are other board members. i use him at the board. he is a strong advisor. his background is incredibly useful, and he is supportive. ultimately, we are a public company and the shareholders are going to get to pick their own board and that governance process will take care of itself going forward. emily: you talk to him often? dara: i talk to him usually during board meetings and once in a while offline. emily: he is on the board for now? dara: he is, and he will be on the board tomorrow. emily: let's talk about the future, then. those who say uber is a ridesharing and food delivery company, what is the next big idea? dara: the ideas we have right now in this building are plenty big ideas, ridesharing, food delivery, micr

i think a lot of folks would argue that you go back to travis kalanick who never cared about an ipo,bout going public in the case of adam neuman and wework, they're in a time crunch they need to raise more money. can he keep that growth going? certainly wework burned through money. they need more money, so i think that story still needs to be written. >> diedre, as all of this unfolds, i wonder with silicon valley and all a the tech companies, unicorns, whether it bolsters the case or chips away at it. >> if you actually look at the trajectory founders are giving away more and more of their companies compared to facebook and google days i think it will be interesting going forward. of course, all three of those founders are there and they're looking at an ipo next year. sometimes there's those sunset provisions with lyft we've seen what's happened with boxx it goes back to the question, are companies better led by their founders when you see this next generation of tech companies graduating and going on to public markets, we'll see what this tells us. >> yeah. certainly never a dull

have a hedge do you think they have reputational risk here because this argument sounds like travis kalanickr, arguing to get its own way, more than it sounds like the new enlightened love the drivers, help everyone uber. >> huge reputational risk. that's why they started to get in front of it by saying hey, we're going for minimum wage of $21, provide benefits, sick leave. but don't make us make them employees yet because that comes with other things. if they do that, that's a good, positive step. $21 an hour, if that's the actual wage you get after all your costs are factored out. okay not a living wage in california in certain places, but certainly better wage than 9. >> don't you think this is getting -- you use the example of regulation in california and uber and lyft. you used the word platform don't you think it is getting at the bigger, broader debate around tech and regulation now anyway this idea, whether it is uber or airbnb, facebook, this idea of we're the platform, we're not responsible what's happening with the use of the platform. >> this is silicon valley mantra it is why th

emily: 10 years ago, travis kalanick and garrett camp launched uber cab, an elite black car service inco. within five years, uber had a shortened name and completed one billion rides. two years after that, the number grew to five billion across 600 cities and 70 countries. it became one of the fastest growing start-ups ever. services ballooned to cover nearly all modes of transportation -- carpool, helicopter, even water taxi. but all that growth came with many challenges. regulators and taxi drivers sleep

uber co-founder travis kalanick recently purchased a anhattan penthouse for $36.5 million.n july, uber co-founder garrett camp purchased a beverly hills mansion worth $72.5 million -- the most expensive sale ever in the upscale neighborhood. new data from the u.s. census bureau shows 27.5 million americans lacked health insurance last year. this marked a nearly two million-person increase over the previous year. house speaker nancy pelosi blamed the increase on what she described as president trump's quote "cruel health care sabotage." in other health news, a sixth person has died in the united states from lung disease related to vaping. an additional 450 people have suffered lung illness. the centers for disease control and prevention has launched an investigation and has recommended people refrain from usining any electronicic cigare or vaping device until more is known about the epidemic. a former top official in the federal emergency management agency was arrested on tuesday for allegedly taking bribes from he head of a company who received $1.8 billion in federal contr

initial investment that's when the vision fund bought shares from existing investors including travis kalanicknd benchmark capital it was the centerpiece of soft bank's to create ride hailing companies across the globe another problem for soft bank is it was supposed to get two board seats along with its investment but because of an extended review into. foreign investment those seats never feral liesed and the ability to get those seats expired with uber's ipo in may for now uber had a no, sir board seats, a deteriorating investment and really not much it can do to exercise its influence. back to you, rel is a. >> when is the lock up expiration all of this seems to point to that there might be investors who would be inclined to sell. >> the lockup should be in november, that's six months from the ipo. you would imagine there would be some selling pressure but at this price you really don't know perhaps they will wait it out and hope for some rebound. >> ari, thank you. ari levy in san francisco. for more on ari's story head over to cnbc.com. >>> it wasn't just uber. lyft also having a rough t

. >> took travis kalanick out. >> if you're a bad guy -- >> softbank -- >> i agree with your point itt happens right now, right so with benchmark, they redeemed themselves because they pushed out. they were successful in pushing out travis before uber was -- went public. >> right. >> so if you have the sort of -- >> also, at wework they took softbank's money, over $10 billion. if they can't have some kind of say over how this is going to go forward, that's what you're weighing it against. >> all right iger was thinking about buying -- i'm trying to figure out why disney, how they worked that. >> why would they want to buy twitter? >> yeah. he said he didn't want it because it's extraordinarily nasty. >> you're on it? >> yeah. >> i think the con see the was bob iger was smart in analyzing that they are losing or they were losing a distribution channel, right disney relies on that infrastructure to get its stuff out there. by some analysis, you know, twitter is another distribution mechanism. >> when i see something -- >> but you do have to wonder if disney had bought twitter, would twi

somethingson, he did not dissimilar when they were investing in uber and travis kalanick was removed.ssive. it is more drastic how much the value of this company has decreased in the past week or so. how critical is it for softbank to get resolution and to what degree has its reputation been tarnished? ed: it is critical to get a resolution and this company to market in a sort of reasonable and timely way. the evaluation i think will be less of an issue because softbank needs to realize its valuation. in terms of the reputational damage, a lot has been done. we have seen saudi arabia's sovereign wealth fund to do something slightly different. they will convert funds into the second vision fund. other investors are looking at this and thinking the halo softbank has had is starting to fade. shery: how much of this is to do with co-working faces? weighing in on how these could be threats to financial stability. ed: it is a great question. more generally it has to do with credulity in the investment space. everything gets treated as a tech company. --ple treat it as something it is not th

company may be different than what it takes to run one the most recent examples, of course, uber's travis kalanickumann, in both cases, they built their companies into some of the most valuable companies in the world, but when it was time to go public, they turned out to be more of a liability. for some of the biggest unicorns over the last decade, put it well this morning on cnbc. he said, you can't not invest in the slightly crazy genius. they're the ones that tend to do great things now, we looked at a pitch book study from a few years ago they looked at exits for companies led by founders versus those led by professional ceos it found that founders would get a higher median valuation. also, perhaps, surprisingly, it found that founders bring their company to exit nearly half the time that professional ceos do of course, this has been a big year for unicorn ipos, with founders at the helm we'll see if that trend continues. and a big one to watch is air b airbnb all three founder rs are still running the company. >> it's a great point. unlike ride hailing where wall street is still trying to und

do they need to bring in new leadership, kind of like travis kalanick to take the company public?art: what do you think? will there be an ipo if mr. neumann is at the helm? >> i think there's going to have to be major compromise. when you have the largest shareholder taking his fight public, you've got neumann, who has a super majority, can fire the board, and the fight has gone public and they don't even know how one board member will vote? this is a complete disaster. there's going to have to be major compromises behind the scenes. i would think that slows down an ipo no matter what happens. can neumann remain as a ceo? i would suspect you will end up with a compromise where he is not but still has a lot of control behind the scenes. stuart: who would buy that ipo if mr. neumann is still in charge? who would do that? susan: especially with the governance questions. >> with the governance questions and will they be able to get even their $10 billion. softbank is mad, as you said, they are mad because they bought in at $47 billion valuation. >> that's their fault. >> they are look