Sunday, October 1, 2017

In which people discuss things I do not understand

We all thought: "Hey! New CEO search is over! Things will be boring and normal now!"

  • God Is a Bot, and Anthony Levandowski Is His Messenger
    In 2002, Levandowski’s attention turned, fatefully, toward transportation. His mother called him from Brussels about a contest being organized by the Pentagon’s R&D arm, DARPA. The first Grand Challenge in 2004 would race robotic, computer-controlled vehicles in a desert between Los Angeles and Las Vegas—a Wacky Races for the 21st century.

    “I was like, ‘Wow, this is absolutely the future,’” Levandowski told me in 2016. “It struck a chord deep in my DNA. I didn’t know where it was going to be used or how it would work out, but I knew that this was going to change things.”

  • Uber-SoftBank Deal Ensures Limits on Kalanick’s Power
    SoftBank Group Corp. has overcome a major obstacle to its planned multibillion-dollar investment in Uber Technologies Inc. The Japanese firm agreed to block any attempts to elevate Travis Kalanick, Uber’s controversial former leader, back to the company’s top ranks, according to people familiar with the discussions.

    Venture capital firm Benchmark, which led Kalanick’s ouster in June, has sought a guarantee in writing from SoftBank that it would reject reappointing Kalanick as chief executive officer and block his appointment as chairman of the board or head of one of its subcommittees, said the people.

  • Former Uber CEO Travis Kalanick just appointed 2 new board members, a defiant move the company is calling a 'complete surprise'
    Uber cofounder Travis Kalanick appointed Xerox chairwoman Ursula Burns and former Merrill Lynch CEO John Thain to the company's board of directors on Friday, a surprise move that's almost certain to re-ignite the bitter internal fighting that has destabilized the ride-hailing giant for months.

    Uber quickly decried the move as "a complete surprise" to both the company and its board.

    "That is precisely why we are working to put in place world-class governance to ensure that we are building a company every employee and shareholder can be proud of," an Uber spokesman told Business Insider.

  • Here’s the proposal to change Uber’s governance, which is aimed at limiting Travis Kalanick’s power
    Some of the proposal points are expected to be voted on by the board on Tuesday:

    It would institute “one share, one vote,” which would eliminate shares distributed early in the company’s history that hold “high” voting power. Those shares are held by Kalanick and also Benchmark, the venture firm that has sued him, as well as some employees.

    Sources said Kalanick wants to defend the removal of those potentially lucrative shares, without the consent of those who have them, and that it also impacts all shareholders unfairly. Sources close to the board said that a majority of those shareholders are in favor of this change.

  • London's Uber ban shows how driverless cars will cut jobs
    Driving to work in a private car imposes an average daily commuting cost on the owner of €24 per day (about $24), UBS says. In a world of robotaxis, with no need to buy a car, that cost falls to €7.2 per day. "Getting rid of their private car would enable the shared mobility user to travel about 10,000km per year in a robotaxi and save €5,000 per year," UBS calculates:

    "Robotaxis will likely price-compete with mass-transit systems. The shift towards electric autonomous vehicles, combined with more advanced fleet optimization and servicing platforms, next-generation traffic management and more intense competition, should reduce the fee charged to passengers of robotaxis by as much as 80% versus a ride-on-demand trip today. The technology to make robotaxis a reality is already available. In this new paradigm, owning a private car will cost almost twice as much as using robotaxis regularly."

    That is an extraordinary thought: An Uber ride that costs £10 today — already roughly half the price of a back cab — might cost only £2 in a few years' time, UBS says. The cost of providing cars without drivers might be so small that companies could offer rides for free, UBS speculates, and make money on the advertising inside them.

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