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Previous skool Uber CEO Travis Kalanick announces novel funding fund centered on job introduction

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Previous skool Uber CEO and co-founder Travis Kalanick on the new time launched a brand novel funding fund he’s calling 10100, pronounced “ten-one-hundred,” that can point of curiosity on his “passions, investments, suggestions, and plump bets.” The theme of the fund, he says, could perchance be wide-scale job introduction with some degree of curiosity on precise estate, e-commerce, and innovations from countries delight in China and India. “Our non-profit efforts will initially point of curiosity on education and the future of cities,” Kalanick writes. The announcement became made on Twitter this afternoon with a prefaced cowl from Kalanick that read merely, “Some news…”

Since Kalanick stepped down from Uber in July of ultimate twelve months, he’s remained an outsized influence in the day-to-day operations on the high-tail-hailing wide consequently of of board seats Kalanick controlled as segment of the deal he nick with the firm alongside his resignation. The firm, beneath recent CEO Dara Khosrowshahi, has simplest persevered to weather controversy after controversy linked largely to the ability Kalanick and his lieutenants structured and ran the firm since its founding in 2009. Those incidents encompass a trade secret theft lawsuit from Alphabet-owned Waymo that reached a surprise settlement final month, and an cowl up of a wide cyberattack that uncovered the data of fifty seven million riders and drivers.

Nonetheless, in a recent contend with Jap telecom SoftBank, Uber’s energy structure shifted, diminishing Kalanick’s adjust of the Uber board by diluting his shares and giving SoftBank adjust of two board seat appointments alongside a change to the vote casting energy of shareholders.

So whereas it’s unclear how lengthy Kalanick has been planning the originate of 10100, it appears to be like in many ways to counsel an admission on the Uber co-founder’s segment that his scheme as a Machiavellian on the lend a hand of-the-scenes player on the high-tail-hailing firm could perchance perchance well smartly be coming to a end. Without the vote casting energy and board adjust he enjoyed in the rapid aftermath of his ouster, Kalanick can’t take a grip on Uber because it carries on with out him, especially no longer as its recent CEO pledges to flip the firm around.

Right here’s Kalanick’s announcement message in plump:

Correct thru the final few months I’ve started fascinated by what’s subsequent. I’ve started making investments, becoming a member of boards, working with entrepreneurs and non-profits. Nowadays I’m announcing the introduction of a fund called 10100 (pronounced “ten-one-hundred”), dwelling to my passions, investments, suggestions and plump bets. It goes to be overseeing my for-profit investments as well to my non-profit work.

The overarching theme could perchance be about wide-scale job introduction, with investments in precise estate, e-commerce, and rising innovation in China and India. Our non-profit efforts will initially point of curiosity on education and the future of cities.

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