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Travis Kalanick’s “spectacular flameout is one for the ages,” said Adam Lashinsky at Fortune . The CEO and co-founder of Uber unexpectedly stepped down last month, after the ride-hailing giant’s biggest investors confronted him with a list of demands that included his immediate resignation. In just eight years, Kalanick built Uber into an industry-defining company worth nearly $70 billion, but his stubborn disregard for ordinary business practices ultimately became his undoing.
Things first began to unravel in February, when a former Uber employee published a damning blog post describing a culture of rampant sexual harassment at the company. Since then, there has been a steady drumbeat of unsavory revelations, including that Uber designed software to dupe regulators; that it allegedly stole Google’s self-driving car technology; and that Kalanick himself could be a real jerk, as seen in a viral video of the CEO berating an Uber driver. Kalanick’s “wild ride” is now over, and it’s not clear where Uber goes from here.
The company has a unique opportunity to rebuild its culture, but “it may be years before Uber 2.0 is realized,” said Anna Wiener at […]