Uber Co-Founder Travis Kalanick’s New Investment Fund Targets Large-Scale Job Creation
Travis Kalanick, the founder and former CEO of Uber who resigned last year after a string of scandals, is back--and he’s looking to create jobs. Not just any old job though. Kalanick has created an investment fund to create “large-scale jobs.”
“Over the past few months I’ve started thinking about what’s next,” he said in a tweet on Wednesday. “I’ve begun making investments, joining boards, working with entrepreneurs and non-profits. Today I’m announcing the creation of a fund called 10100 (pronounced ten-one-hund) home to my passions, investments, ideas and big bets. It will be overseeing my for-profit investments as well as my non-profit work.”
The statement continues: “The overarching theme will be about large-scale job creation, with investments in real estate, ecommerce, and emerging innovation in China and India. Our non-profit efforts will initially focus on education and the future of cities. For anyone who wants to get to work, email me at travis@10100fund.com.”
Kalanick, who is worth about $4.24 billion, according to Bloomberg estimates, did not mention the size of his investment fund. Nor did he reveal any details about how many people, if any, are working on it with him.
Moreover, the focus of Kalanick’s fund is vague. Other than listing some industries, he neglected to mention whether the fund would limit its investments to tech-only projects or whether it would invest in any kind of idea.
Furthermore, It’s unclear how the man behind one of the most influential technology companies of its generation defines jobs. Uber’s business model is built on creating technology that brings drivers and riders together. And while there are thousands of Uber drivers, their “jobs” are flexible, part-time, and lower paying than traditional full-time employment with benefits.
An email has been sent to Kalanick’s new fund. We’ll update the article with any new information.
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