Uber Founder And CEO Packs His Bags And Leaves Amid Turmoil

In the end, the traffic jam of internal and external issues at Uber proved too paralyzing for its hard-charging co-founder and CEO Travis Kalanick, who late Tuesday night Pacific time resigned from the ride-hailing company he helped found in 2009.

Kalanick stepped down after receiving a letter from some of the largest investors in the company, according to a report in The New York Times.

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mre30 - 6/21/2017 11:16:40 AM

-2 Boost

The financial trends of Uber and Tesla share many similarities, although Tesla is public and Uber is still a private company. Despite the "cheerleading" around the companies, both are quite fragile.

If Uber cannot go public, due to its relentless and continuous losses, it has loads of intellectual property and will quickly be snapped up by another tech company (Apple or Microsoft or Google are the three most likely candidates in my opinion).

It Tesla stumbles and needs to be bailed out, it is unlikely to be bought outright and will likely go into bankruptcy and be sold off there. Few buyers will value any 'autopilot" data highly enough to sign on to a union plant and large warranty liabilities and/or product liabilities. There is also the question of "enironmental" both at the Nevada plant and Tesla's Freemont, CA plant.

One way Tesla should follow Uber's lead is by jettisoning Musk and moving the company to a more objective management team - however that is unlikely to happen.