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Lesson 3 UBER: Travis Kalanick

The document provides context on the history and evolution of transportation services and crowdfunding. It discusses how the "jitney" bus in 1914 served as an early precursor to Uber by providing shared rides. However, regulations imposed by the trolley industry caused jitneys to disappear by 1918. The document also profiles Uber co-founder Travis Kalanick and crowdfunding platform IndieGoGo founder Danae Ringelman, and outlines the 6 steps to creating a successful crowdfunding campaign.

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Arpit Kumar
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53 views3 pages

Lesson 3 UBER: Travis Kalanick

The document provides context on the history and evolution of transportation services and crowdfunding. It discusses how the "jitney" bus in 1914 served as an early precursor to Uber by providing shared rides. However, regulations imposed by the trolley industry caused jitneys to disappear by 1918. The document also profiles Uber co-founder Travis Kalanick and crowdfunding platform IndieGoGo founder Danae Ringelman, and outlines the 6 steps to creating a successful crowdfunding campaign.

Uploaded by

Arpit Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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LESSON 3

UBER: Travis Kalanick

The future needs to reduce pollution, parking and traffic issues. All this is possi-
ble using already exiting technology. Over a 100 years ago there was an uber
before uber had launched. If that has survived the future of transportation
would be here.The Jitney bus was invented in 1914 by L P Draper who was a
car salesman. He was driving around LA. He saw people standing in lines to go
to places. So he put a sign on his car that he would take people where they
wanted to go for a jitney(which is slang for nickel) . People started getting onto
his car. Within 1 year in 1915 there were 50k rides in Seattle, 45k rides in Kan -
sas, 150k rides in LA. Uber does 157k rides in LA today. Trolley guys were not
happy about the jitney. So they get regulations to slow down the jitney. Some
regulation was that jitney drivers had to be in jitney for 16 hours. One was that
there must be 2 drivers in a jitney. One involved has to have backlight. By
1918 jitney was gone from the roads. Because you could not share cars you
had to own them. Car dealership sales rocketed because of this. By 2007 every
man/woman/child could have a car. 7B hours were wasted in traffic in US along
with 160B dollars productivity. 1/5th of carbon footprint was produced due to
this. 30% of land space is used to store cars. Mass Transit hasn’t figured to
reach everyone. Uber was developed so that they could push a button and get
a ride. No major thought was put into in. But a trend of duplicate rides was ob-
served. Many people were taking rides from similar places o same destination
at same time. Combining the trips into one helped everyone by reducing fare
by 50% and also reducing traffic. In 8months in LA 7.9M fewer miles have bene
driven and reduced 1.4k metric tons of CO2. 100k new people carpooling. 15M
uber trips in a month. So uber pool works for urban areas. How to tackle these
issues in suburban areas. Uber commute is launched. You become the driver.
You are matched with your neighbours to go to work. The cost is 54 cents a
mile according to govt. Without these regulations more people would be en-
couraged to be car pool. Regulations caused the downfall of jitney. Self driving
cars will be take 5-10 years. Instead of waiting for them to usher in a new age.
We should use current technology to promote carpool to usher in a new wave
for our cities today. (Uber changed the symbol design to blend in and be a part
of the cultures everywhere in the world.)

Danae Ringelman

10 years ago she was an investment banker learning about the financial
marker. She was child of middle class parents. She believed she made big
when she entered the world of Wall Street. One day she received an invitation
to this lovely little event called where Hollywood meets Wall Street.She was ex-
cited at the prospect of meeting famous actors. But when she reached there
she met a sea of starving artists, filmmakers, etc hoping to find someone to
give them money to go make their big breaks. She was one of the more popu-
lar people in the party as she was one of the few people from the bank. No one
understood she was just an analyst who crunches numbers and had no money
to invest int them. She went home in shock. Two day later she received a pack-
age from a filmmaker she had met. It had his script with a note that he hoped
she would funs his film. Her heart sank at the thought that a man with such ex-
perience was begging a young girl with no experience for money. She called
her mom to vent about how unjust the world was. They lived in America that
called itself a land of opportunity and yet you had to rely on someone rich to
give you the money to achieve your dreams. Her mom responded quietly and
calmly said well if you're so upset remember this moment and this feeling and
go do something about it. So that's what she did. She quit finance a couple
years later left and went back to business school with one mission and that was
to democratize fund idea. It was at business school that she met her co-
founders who actually came from technology backgrounds. They said Danai if
you really want to democratize fundraising and if you really want to give any-
body the opportunity to raise money for anything anywhere in the world we
need to use the only tool that efficiently lets you do that and that’s called the
Internet so that's what they did in 2006 they got together and started a com-
pany called IndieGoGo

It was the first online funding platform and is now the largest spread over 200 countries.

This is to give people context about how one idea has spawned an entire industry. A new

industry called crowdfunding was born. Crowdfunding is nothing new. It is one of the oldest

stories that the statue of liberty was a gift from France to United States but the pedestal it

stands on was not a gift and people had to raise three hundred thousand dollars to build it.

Since money was short a citizen name Pulitzer took it upon himself to start a campaign

and raise the fund. He used newspaper as form of communication and thousands of peo -

ple helped to put up the statue and became a part of history. There was even a baby

crowdfunding for a couple who couldn’t afford fertility treatment. John mark is an inventor

who came up with cheap 3D printer but did not have funds for prototype and so he

launched a crowdfunding campagin and raise 160,000 dollars more than needed. The

people fund because they are passionate about the cause and also get some perks after

funding. Another reason people fund is return profit participation. Two entrepreneurs came

up with Atari star but got rejected so they launched a crowdfunding campaign. They of -

fered people free shipment of product and part of development team in return for funding.

How do you create a campaign?

Its a 6 step process:

• Pick a crowdfunding platform

• Create campaign

• Engage audience
• Use social media tools

• Get your money

• Fulfil your perks

How to be successful

• Have an honest and engaging pitch about who you are and what you want to do. Cam -

paigns with videos are more successful

• Be Realistic about financial goals and plan what money shall be used for what task

• Have a specific deadline

• Offer interesting an cool perks. It should be something they can’t go buy themselves. Of-

fer them Experiences

• Be proactive and make updates on your campaign

• Make sure you have an audience that cares

(Women are 5 time more successful on crowdfunding compared to normal industry)

Where Next

• It will become the norm

• There will be shift to brand and organisations

• It will be a complementary funding channel

• It will be used for profit opportunities

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