Kalanick is owed control because Benchmark agreed he had control.
I agree. Given what was negotiated, the default starting position for the lawsuit is that Kalanick is owed control.
so many VCs wanted in, that they were able to dictate very favorable terms.
That is what I failed to fully appreciate. There is so much dumb money sloshing around that it forces smart VCs like Benchmark to agree to dumb things.
Here's now a Fortune pundit described the investment a Saudi Arabian sovereign wealth fund made in Uber last year:
Uber needed the money, and where else are you going to get $3.5 billion? No doubt, it must be tough to fundraise after you've already tapped out venture capitalists, private equity firms, mutual funds, hedge funds, Wall Street high-net worth clients, and strategic corporate and other sovereign wealth funds (yes, including from noxious Qatar).
I agree. Given what was negotiated, the default starting position for the lawsuit is that Kalanick is owed control.
so many VCs wanted in, that they were able to dictate very favorable terms.
That is what I failed to fully appreciate. There is so much dumb money sloshing around that it forces smart VCs like Benchmark to agree to dumb things.
Here's now a Fortune pundit described the investment a Saudi Arabian sovereign wealth fund made in Uber last year:
Uber needed the money, and where else are you going to get $3.5 billion? No doubt, it must be tough to fundraise after you've already tapped out venture capitalists, private equity firms, mutual funds, hedge funds, Wall Street high-net worth clients, and strategic corporate and other sovereign wealth funds (yes, including from noxious Qatar).
http://fortune.com/2016/06/02/ubers-no-good-very-bad-deal-wi...