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There's way too much money at stake here for this to be driven by grudges, emotions, or even reputations. Benchmark's stake in Uber is worth $9.1b -- many, man
by twmahna 9y ago
There's way too much money at stake here for this to be driven by grudges, emotions, or even reputations.
Benchmark's stake in Uber is worth $9.1b -- many, many times the size of their fund. They will do anything they can to protect this investment.
They very likely believe that the best way to protect their investment is to keep Travis out, and this is part of the process. Decisions like this aren't made at an individual partner level. The entire partnership decided to file this lawsuit, and that means it's a calculated decision.
- nodesocket 9y ago> There's way too much money at stake here for this to be driven by grudges, emotions, or even reputations. But that's precisely what happens. It is human nature. Money makes people emotional, greedy, envious, and short-sided. It takes exceptional and very rare discipline (see Warren Buffett) to not be emotional in investing/business.
- chrisseaton 9y ago> Benchmark's stake in Uber is worth $9.1b -- many, many times the size of their fund. I don't get it - their stake in Uber is part of their fund isn't it? So how can it be worth more than the whole fund?
- jon_richards 9y agoI'm guessing funds are usually measured by invested capital, rather than how much they are currently worth.
- tedmiston 9y agoFor example, if their fund is $1B and they put $250M in Uber, then Uber's valuation goes 10x, so their portion is now worth $2.5B, more than the fund started with. (Numbers made up for example.)