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I was on Groupon sport and we all know how that played out right when Andrew Mason and Google on the flip side Rosen swag made a deal with mark and they were bonding for a billion and Sue didn't want to do the deal and then it was off and now we're his Facebook
Microsoft gave Apple money to stay alive
you go talk to Apple and he was selling to Sun Microsystems for four-and-a-half billion dollars
the best example that nobody ever brings up is you know Apple and Google Eric Schmidt was I think on Apple's board yes and and Google powered search on Apple and then all of a sudden they start working on Android in secret for a couple years and then Steve went ballistic and there's the famous like photo of Steve and Eric Schmidt at the Palo Santo Road at that mall having coffee talking about it somebody took a picture of it right as all that was happening to get off the board like a week later
I think masa was going to make a bet in the u.s. so well the probability of us doing lyft prima facie was low if we didn't get uber we were gonna make a mobility play in the United States that's one line yeah 10 to 30 percent chance
there really only two players there was uber and there was left ... if you're the vision fund you don't need to play in second and third tier assets
door - obviously as an investor you'd rather see them consolidate
I think door - is worth 10 or something less private round was 1313 and lubbers worth 60 or 50 or 60
I sit on the door dashboard with six other investors five of which are invested in uber as well
we thought it was not a winner take all market in food delivery
they have 80 plus of the top 100 providers in the US
look at door - right they have 80 plus of the top 100 providers in the US the when they didn't have money in the bank they didn't have nearly as many once we came in and put a lot easier to get somebody like a McDonald's or Burger King whatever those good brand so I'm not sure which ones they have the partnerships with so capital matters more yeah they feel more comfortable in partnership and you're not going away
Travis had the khutba to say I'm gonna go win in in China and I think in the end it worked out
we needed to have a mobility play in the largest market called the United States and at that point in time there really only two players there was uber and there was left and yes there were dozens of smaller players but not masa style and if you're the vision fund you don't need to play in second and third tier assets and so we really wanted to invest in uber
we really wanted to invest in uber it was a very unusual dynamic large
the other is do a bunch of Accu hires to block out you know the blossoming little seedlings that may grow up into oak trees and then sometimes they would buy them and leverage that platform sometimes they bought them and just shut them down
they just didn't want entrepreneurs or potential entrepreneurs on the market so they give them just absurd salaries and with savings and you know internally or in private like yeah we were paying that person like a million dollars a year so they don't start a company
they went and hired every PhD I was running Alta Vista when Google was a you know forty person company and what did they do and how did they create a moat is they basically hoovered up every PhD in the country
eBay was profitable from day one and yet we were investing in international we're investing in fixed price we were investing in Bill Point which was the competitor of PayPal and and then you know before that split off PayPal is now a you know one hundred and forty billion dollar business
eBay's one of the best business models enterprise software is a good one but eBay was profitable from day one and yet we were investing in international we're investing in fixed price we were investing in Bill Point which was the competitor of PayPal and and then you know before that split off PayPal is now a you know one hundred and forty billion dollar business and so we had adjacent markets