Speaker unverified: belief

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…I'm curious. There's so much of this strategy that if you connect the dots looking backwards to use the Steve Jobs parlance, it just makes so much sense. This expanded internationally, leveraged the fact that you're the leading global player, generate cash, use it to compete domestically, Eats feeds ride sharing, you can use this flywheel. We haven't talked about freight yet. I'm curious. Of the three pillars today of ridesharing, Uber Eats, freight, and divesting everything else, all the autonomy, all of the self-driving, international bikes and scooters, what of today's strategy was in your pitch to the board when you were joining as CEO? And what is an emergent thing that's happened while you're in the seat? The pitch to the board was really different in that it wasn't about strategy. It was about operations and how you take the business to break even and profitability, et cetera. It was presenting myself as a mature operator and my track record at Expedia. I think now, things have changed, which is we have become much more focused on those three segments. If you look at rides, we have a number of growth bets, which is there's this base business, Uber X, which is going to be 50% of our growth. About 15% of our growth are international countries, where the business model as we had it wasn't legal. The attitude at the time was, well, if our business model isn't legal, then we're not coming in until we’re invited in. We took a different attack, which is, well, what business model is legal? Let's adjust our business model to the country versus have the country adjust to the business model. Once you're in, you build trust within a country, and you build a voice, et cetera, maybe then the business model can change over a period to benefit drivers, couriers, et cetera. We're in Germany, we're in Spain, we're in Japan, we're in Korea, we're in Turkey. There are a bunch of countries that we're expanding into, with tweaks to the business model to make sure that we're expanding into those countries the right way. There's a whole host of new bets that we're making in terms of transportation, taxi, which is huge, low cost hailables, two wheelers, three wheelers, Uber for business, health, transportation, all of these different segments. That whole new best portfolio will be 35% of our growth. If we do it right, 50% of our growth will come from these new initiatives that really didn't exist. On the Eats side, obviously it was about food and the general expansion of that business. But it's really about getting into the other categories, getting into grocery, liquor, et cetera. One of the parts that I'm super excited about is, we've always had an integrated offering. If you think about Eats, there's a marketplace offering. You come to Uber Eats, and Eats is bringing you demand, and then there's the fulfillment of that demand. My bringing wine here and delivering it. That has nothing to do with demand necessarily, but it's fulfillment. These are two separate businesses that got stapled together.…

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