Lagspike_exe
Member
Zero Hedge via WSJ (I have left the pretentious title out, although it probably isn't far from truth):
Some stuff about cash flow:
http://www.zerohedge.com/news/2017-...-officer-resigns-kalanick-plans-leave-absence
I think this is worth the read and they even compiled a list of 17 events that are either bizarre or tend to be a very bad omen.
The uber implosion at Uber continues.
Two days after it emerged that Uber CEO Travis Kalanick had fired off a bizarre email in 2013 to hundreds of employees where he listed the conditions under which they could have sex with each other at a company outing in Miami, the WSJ reports that not only is Uber Chief Business Officer Emil Michael said to resign on Monday, just two days after it was reported that Uber's head of finance Gautam Gupta was departing to take a position at OpenDoor, but that embattled Chief Executive Travis Kalanick "will discuss taking a possible leave of absence when the board of directors of the embattled ride-hailing company meets Sunday morning."
From the WSJ:
Uber Technologies Inc. executive Emil Michael, one of Chief Executive Travis Kalanicks closest confidants, is planning to resign as soon as Monday amid an ongoing investigation into the companys workplace culture, according to people familiar with matter.
Mr. Michael, as chief business officer, helped oversee broad strategy initiatives including mergers and acquisitions and fundraising. He joined Uber in 2013 from Klout Inc., which rates users online reputation, and had worked as an adviser to technology companies.
Also on the agenda of today's meeting of the seven-person board is a vote on a series of recommendations from a report prepared by former U.S. Attorney General Eric Holder regarding its workplace.
It was uncertain whether Mr. Kalanick would ultimately take the leave or whether the board would approve of such a measure, which would require finding a temporary replacement in short order.?
Some stuff about cash flow:
And then there is the biggest problem of all: Uber's chronic cash burn.
Uber lost $708 million in the first quarter, despite another rise in revenues. Last year, Uber managed to burn through almost as much cash as NASAs $4.8 billion budget last quarter. Previously, Bloomberg reported that Uber has burned through at least $8 billion in its lifetime through the end of 2016. While the company had $7 billion of cash on hand as of March 31, along with an untapped $2.3 billion credit facility, inevitably questions will emerge if and when the world's most previous "unicorn" will ever turn a profit. The company was most recently valued at $68 billion, although in light of the recent turmoil in the C-suite that number will likely be revised significantlly lower.
http://www.zerohedge.com/news/2017-...-officer-resigns-kalanick-plans-leave-absence
I think this is worth the read and they even compiled a list of 17 events that are either bizarre or tend to be a very bad omen.