David Rosenthal: commitment

Transcript context

…They don't IPO. They don't IPO, no. For a while, for a number of years, the wisdom becomes certain at Uber and to a certain extent, at other companies too, certainly at Uber, certainly at DiDi. The way we can win this as this is a war of attrition, we will raise so much money. This is what we talked about on the Lyft episode, 16 times the amount of capital that Uber raised versus Lyft at one point in time, something like that. We can just blow away our competitors and crush them into oblivion. Once we've crushed them, then the unit economics will become more stable, and we can return to profitability on these platforms. It shouldn't be long. In August of 2013, Lyft raised the $60 million from Andreessen in May of 2013. In August of 2013, Uber raises $258 million led by Google Ventures with TPG coming in the private equity firm. This is the start of this. Instead of just investing those $260 million in the US and competing with Lyft, remember, Uber is now international, and DiDi and China starts raising huge amounts of capital. Uber is now spreading this capital fighting land wars all around the globe. Yeah, Uber's doing a multifront war. They have to capitalize wars on all these different borders. We should say too, they are maintaining a very strong leverage position in this negotiation. They raised that $260 million on a $3.7 billion post money. They just got a 10x from that previous round, where they were valued at $350 million.…

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