Late last night, Uber CEO Travis Kalanick resigned from the $70B company he co-founded, not with a bang, but with a whimper.
While he will remain on the board, effective immediately, he will no longer be Uber’s CEO.
Kalanick announced his indefinite leave of absence last week — but earlier yesterday, 5 of Uber’s major shareholders (including their lead investor, Benchmark capital) staged a mutiny, demanding that he entirely vacate his position.
After hours of discussion with investors, Travis released a resignation statement, urging “Uber [to] go back to building rather than be distracted with another fight.”
In this case the word “Uber” and “Travis,” are interchangeable: this is a man who’s just tired of fighting.
After all, he’s the father of a child prodigy who ended up having some pretty severe growing pains — and now that child is essentially a ward of The State.
Only social media can ban you from social media
On Monday, the Supreme Court struck down a North Carolina law that made it a felony for registered sex offenders to use Facebook and other social media sites.
It’s a monumental decision — one of the first to grapple with the complex relationship between the internet and the First Amendment.
It all began with a humble-brag
Back in 2010, a North Carolina police officer came across a Facebook post by Lester Packingham, Jr., a convicted sex offender. In the post, Packingham boasted of beating a parking ticket in traffic court.
A law in North Carolina at the time stated it was a felony for sex offenders to use the site, and Packingham was swiftly arrested.
But the sex offender challenged his arrest as unconstitutional, and the case (Packingham v. North Carolina) eventually made its way all the way to the Supreme Court, where they ruled in Packingham’s favor.
Ever hear of a little thing called the First Amendment?
Justice Anthony Kennedy determined the ban to be a breach of First Amendment rights, stating convicted criminals should be able to access “the world of ideas” offered by social media.
The Court concluded that the government “can’t uniformly bar people from using expansive chunks of the internet.”
But tech companies sure can!
Despite the ruling, the social networks still have complete power to ban whoever they want — so long as it isn’t on the basis of race, color, religion, sex, or national origin.
In fact, Facebook already bans convicted sex offenders like Packingham, and, if they wished to, could ban all convicted criminals.
It’s a reminder that, for better or worse, private businesses sometimes wield more decision-making power than the courts do in such matters.
Yesterday, the FTC sued to block the proposed merger between fantasy sports giants FanDuel and DraftKings, saying that it would create a real-life monopoly.
According to regulators, the rivals collectively own 90% of the daily fantasy business — and the merger would deprive customers of the benefits of competition.
That means the companies are stuck in the awkward position of deciding whether to go back to being competitors, or band together against their new opponent: THE LAW.
Which they’re no strangers to
Over the past 2 years, both companies have invested small fortunes in legal battles over whether or not they should be considered online gambling rings. (Believe it or not, some state governments are particularly hostile against those!)
Last year, they were each slapped with a $6m false advertising settlement by the state of New York after misleading players about their odds of winning.
That’s why last fall, they decided to fight “the man” together.
Because separately, they’re in a pretty precarious situation
Regulatory risk aside, neither company has figured out how to be profitable in the battle to be king of the hill.
In 2015, they spent a combined $750m in advertising, and brought in less than $90m in revenue each. That put DraftKings $509m in the hole for 2015 alone.
So, while their marketing presence makes them seem like mountains, their bottom line is more of a molehill.
In other Uber news, the company has announced that they’ll be paying select drivers a higher per-mile rate, plus an additional $2 per ride, for driving around teens.
Why? The move is part of Uber’s new “teen accounts” feature, which promises a “more exclusive service” for parents who are willing to shell out top dollar for someone to chauffeur their kids to soccer practice.
AKA, their developing brains haven’t fully grasped the concept of empathy, and they’ll make fun of your deepest insecurities then leave gummy worms in your cupholder before you can say “padiddle.”
Honestly, we’re getting stress acne just thinking about it. So, in our opinion, the extra charges are totally justified.
But really, this is a total game changer
You still have to be 18 to have your own Uber account — but in Columbus, Phoenix, and Seattle, parents can now create a “Family Profile,” which allows kids 13 and older to request rides on their dime. The app also monitors where the youngins are going.
For teens, that means no longer having to beg your mom to drive you and your friends to the movies, then being mean to her the entire ride because she’s so embarrassing.
Earlier this month, US Customs intercepted a 7 lb shipment of the slimy creatures in Philly, en route from Italy.
The snail trade ain’t slow
Worldwide, 450k tonnes ($12B worth) of snails are consumed annually. About 80% of that business is centered in Europe, but snails are increasingly popular in American cuisine — to the tune of $300m/yr.
The critters discovered in this particular shipment were Eobania vermiculata — commonly known as “chocolate-banded snails.” They’re in the same family (Helicidae) as the famed escargot, and are commonly served up as a delicacy for the epicurious.
A slimy underworld
Thing is, under federal law, it’s illegal to import live snails into America for human consumption, since they’re a highly invasive species in certain ecosystems.
As a result, 99% of snails you see on fancy-schmancy American menus are prepared from frozen or canned goods (a tiny percentage come from U.S.-based snail farmers).
In this case, the snail smuggling culprit was issued a violation. But who knows what might happen next slime.
Hustle Con is like a Christmas morning Easter egg hunt mashed with a birthday party, only instead of getting tube socks and $20 bills from your Auntie, you’re getting to hear from badass founder after badass founder all day long.
Yes, it’s really that awesome.
But, for you first-time Hustlers, the best part of this event has, and always will be, the amazing attendees. *Cue corny speech music*.
Really though, it’s incredibly exciting to be around so many smart, driven people all in one place, and it’s this energy that’s grown Hustle Con from a 300 person gathering to a 2,500+ person event — with attendees flying in from every continent.
So take advantage of your next two sleeps, chug your Kombucha or whatever you need to do to feel right– and show up ready to go this Friday.
Not only does breakfast boost your brain power, it kicks up your metabolism, making you slimmer, more energetic and less prone to hangry-ness (technical term).
But between empty fridges and getting to work on time, eating a solid breakfast is more idealistic than realistic. And if you’re trying to get in protein, you better start loving hard boiled eggs real fast.
Oats Overnight is an easy way to get your protein in — all with less sugar than a piece of fruit.
Just add milk to the pre-packaged oats and protein mix in their complementary shaker bottle and stow it in the fridge overnight. Then wake up to flavors like strawberries and cream or green apple cinnamon or peanut butter banana, with zero morning prep.
We make our own in the office fridge the night before and they’re awesome. To try it out, grab yourself a starter pack, and pay no sales tax or shipping in the month of June.