The new fund, called “10100” (pronounced “ten-one-hundred”), will target job-creating companies in the real estate and e-commerce spaces, the ex-Uber CEO said in a tweet Wednesday:
Some news… pic.twitter.com/urFBrb9aCV
— travis kalanick (@travisk) March 7, 2018
The responses to the tweet are piling up on Twitter. Some praise Kalanick for getting up off the turf after his ouster from Uber to start something new. Others criticized Kalanick’s plan to focus investments on Chinese and Indian opportunities, as the tweet suggests.
Running a venture fund involves more than reading business plans and writing checks. It also involves a lot of advising and coaching. So it’s fair to ask if Kalanick will be able to avoid inadvertently instilling some of his bad habits from his Uber days into the cultures of young portfolio companies. On the other hand, an older and wiser Kalanick may be able to give young companies the benefit of his own hard lessons.
Given Uber has burned nearly $11b since inception, made a zillion self-inflicted mistakes, and is known for its toxic culture, will be fascinated to see who strategically aligns themselves with Kalanick. Like, who aims for that? https://t.co/4wosHHaI70
— Sarah Lacy (@sarahcuda) March 7, 2018
Kalanick resigned as CEO of Uber last summer after five large investors demanded it. This came after a string of damning reports about Uber’s corporate culture, business practices, and relationship with regulators.