Former Uber exec explains how to turn failure into innovation

Former Uber exec explains how to turn failure into innovation | Emil Michael

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Күн бұрын

“You’re not punished for failing, you’re punished for not trying.” Former Uber exec Emil Michael on how to truly achieve success.
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Emil Michael, former Chief Business Officer at Uber, believes failure is vital to success. According to him, failure played a pivotal role in the stratospheric expansion that made Uber one of the world’s fastest-growing companies.
Michael points to Uber's endeavors in China, where immense opportunities clashed with daunting operational costs, including intense competition with local rival DiDi. He delves into the complex decision-making by both himself and Uber’s founder, Travis Kalanick, that ultimately led it to merge with its competitor.
Michael believes a high level of business acumen is required to transform setbacks into strategic victories. He encourages anyone trying to create something to embrace failure and harness their ambition to foster exponential growth.
Read the video transcript ► bigthink.com/series/the-big-t...
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About Emil Michael:
Emil Michael is an investor and strategic advisor to many of the world’s most important high-growth companies. He is currently serving as Chairman and CEO of the blank check company DPCM Capital. From 2013-2017 Emil was Chief Business Officer at Uber, where he led the company through a period of exponential growth.
Across his many tech leadership roles, Emil has been instrumental in raising over $25 billion in capital, and the creation of $100 billion in market value for technology businesses. Today, Emil is focused on working with entrepreneurs and companies that have the potential for hypergrowth. He advises on fundraising, mergers and acquisitions, corporate strategy and culture, building executive teams, and global expansion.
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Пікірлер: 100

@matteframe 10 ай бұрын

I didn't hear one example of how uber 'messed up'. Just how amazing and incredible their massive growth was. So humble.

@EZ_Money101 10 ай бұрын

They're the next Amazon. The one thing about these types of businesses is once they get too big they care less about their employees and customers. They become driven for profit and profit ONLY!! Corporations are modern day slave owners...

@billmalcolm4291 10 ай бұрын

I think it was supposed to be blowing through $1B just to win China...?

@professorfinnih 10 ай бұрын

They messed up by overspending in China (2B in two years) but unable to overcome DiDi's aggressive investment and marketing strategies and consequently merged with DiDi in 2016. They could have left china with NOTHING!

@alexalke1417 10 ай бұрын

They just thrive throug corrupt governments, lobbying, and slavery. So humble.

@Captain_SJ 10 ай бұрын

It wasn't, coz the exponentially growth blurred every fault line

@tungbui2161 10 ай бұрын

Fast growth in such short amount of time is how a cell biologist would describe the most aggressive forms of malignancy. These cancers are the most lethal to their host as they will consume you.

@TLSH12 10 ай бұрын

If you're business plan requires not paying your employees a livable wage, than your business plan is fundamentally flawed. I wholeheartedly think Uber as a business is immoral.

@Turdfergusen382 10 ай бұрын

Fuck Uber. This is a promo for them. Big think is corrupt

@SmellsLikeNow 10 ай бұрын

I searched KZbin on "How to spot a narcissist" and ended up here. I was annoyed at first but after a minute or so realized I was in the right spot. I won by messing up.

@QuestioningNormal 10 ай бұрын

Who needs to put their search history and opinion online, right? seems like you looked it up for a rlyrly close friend smh

@tonyhart2744 10 ай бұрын

cry more, he earn millions of dollar while at ubers if I can get millions of dollar by being narcissist, I would gladly take it

@someshkumar2411 10 ай бұрын

Good for you that you found what you were looking for... ✌🏾

@SmellsLikeNow 10 ай бұрын

@@QuestioningNormalnrc

@SmellsLikeNow 10 ай бұрын

I appreciate your honesty.@@tonyhart2744

@gravestone4840 10 ай бұрын

Uber engages in price fixing for their rides. Theyve been taken to court over it in multiple US states. Regardless of how many drivers are available, the price will stay high. They manipulate their data to ensure prices stay high during hours they deem peak hours. So much for supply and demand ride shares....They also allow abuses of the system such as airport surcharges where a driver can sit at the airport (higher price) and instead take rides outside the airport but keep that higher surcharge price. On top of this, they refuse to make their employees full time instead of contract so they can dodge the responsibility of taking care of issues that arise.

@tonyhart2744 10 ай бұрын

so like every other bussiness ?

@TheDraco175 10 ай бұрын

What about Ubers failure to hire full time employees instead of contract work???

@brionhausgeld2415 10 ай бұрын

Uber killed the taxi business in Oakland first, and now that the availability of Uber has dropped off significantly, people in need have to wait and hope a ride is actually on the way. Bad for customers.

@WWK-f4t 10 ай бұрын

I thought this was going to be an objective video about Uber‘s recent European corruption scandal. Instead it was bragging from a biased former Uber worker.

@yuriajones 10 ай бұрын

I watched this video from beginning to end, and I still have not seen or heard the "messing up" parts. It sounds like all these guys are interested in is "winning, no matter the cost" and that's no surprise because... capitalism. What about the drivers?? Uber screwed them over by classifying them as contract workers, and most of them are probably worse off now considering low barriers of entry to be a driver (that usually drives down wages) and no access to regular employee benefits, such as healthcare, which most employees absolutely need and look forward to. Uber screwed over their customers too. By having an unlimited source of cash from investors, they could essentially monopolize markets with their service, drive competitors out of business, and then raise prices when they're the dominant player. Customers are then stuck with no alternatives and are forced to pay higher rates. The only interesting part about this video is learning that their cash did NOT help them win in China. They were beaten in that market and had to sell to Didi.

@withershin 10 ай бұрын

GIS routing has existed for decades. Here's how Uber won by messing up. They lost billions of dollars on an idea that the tech already existed. The notion of pushing a button (smart phones are full of buttons) and a car shows up is so different than calling or hailing a cab/taxi. It's like this great leader Emil came up with a brand new idea. Like a GPS mapping app in 2010 wasn't ground breaking tech. Sales guy/Lawyer always going to sell. Story tellers going to tell stories. zzz...

@ChaiNinja 10 ай бұрын

It’s costs me more to Uber to the airport than for my actual flight.

@zarporiko 10 ай бұрын

An example city presented in the video is Istanbul. Uber failed miserably in Istanbul, got thrown out, and shut down. Now it just calls a yellow cab with the city fares

@glookinusef 10 ай бұрын

I’m here too, Uber sucks!

@learnallican3627 10 ай бұрын

How did they mess up?

@EZ_Money101 10 ай бұрын

By going too big.

@TLSH12 10 ай бұрын

@@EZ_Money101 in the video he said the opposite

@billmalcolm4291 10 ай бұрын

And how did the strategy of retaliating against employees who raised concerns about sexual harassment work out?

@atemass 10 ай бұрын

Hooly shit the editing is the best I have seen yet

@ChinstonWurchill 10 ай бұрын

Thumbnail designer needs a raise!

@highcap4952 10 ай бұрын

Meanwhile the guy in Germany: shit!

@JakeIsotopes 10 ай бұрын

The whole idea was great - but Uber became the fastest growing company because they did not followed regulations nor taxing requirements - giving HUGE financial advantages to Uber (HUGE LOSSES for states and ultimately the population).

@Turdfergusen382 10 ай бұрын

This is an Uber ad. They are trying to build back credibility after all their bad publicly

@simplysunmoon 10 ай бұрын

Right people’s cooperation results big ❤️🌝🌜

@changyone 10 ай бұрын

Great mind

@jer-bearzy 10 ай бұрын

I wish this were true in academia since sharing failed experiments is looked down on and simply not done so that many people have to retread the same ground…

@angelbcinta1754 10 ай бұрын

But how did they mess it up firstly? I could imagine how bad was their first experience in Mexico City sorting those gangs and mafias in taxis and buses fleets however no a single bad experience shared

@m24213 10 ай бұрын

I am still waiting for the innovation part here, if he is talking about sending a person to different country to and stay there until the operations are up and running, then that is not innovation. Japanese companies have been doing it more efficiently since the 60's. If he wants to claim its new in tech, that just like a participation trophy. Also, everyone is obsessed with growth, but what is the profit that the company is making. Infact, did the company ever make net profit? something to think about.

@One_In_Training 10 ай бұрын

Asking yourself "How do I 10x this?" and saying to yourself "I don't care who or what I fuck up in getting there" is not called innovation. The glorification of this model of entrepreneurship is the single worst bane that afflicts modern society. No matter what the details are , the playbook is always the same 1. Build something 2. Do whatever it takes to make everyone get hooked to your thing 3. Cash out and don't' give a damn about anything else and the clusterfuck you've left behind

@AbandonedMines11 10 ай бұрын

My God, is anybody still using Uber at this late date? Everybody I know doesn’t use it because it’s gotten too expensive and too unreliable. I’m surprised it’s even a thing anymore. Its 15 minutes of fame are definitely over.

@meh3247 10 ай бұрын

Moral of the enormously dubious story: _Do not allow Uber executives to train bomb disposal teams._

@idontknow1919 7 ай бұрын

I always just pay the uber driver cash and cancel the ride so Uber doesn't make a cent

@maxsalvail3397 10 ай бұрын

Uber is the summum of a success story who based its business model on exploiting misery (people who recently lost their job but still have a nice car) and then convincing politics (corruption) that this is a great idea to exploit misery. Big think, how did you get so low?

@helsinkialexjarvinen4789 9 ай бұрын

Nice

@pewpewdragon4483 10 ай бұрын

so their failure was recognizing that they weren't winning hard enough, and their innovation was to buy out their competitor(s)...? 🤔🤨

@picklesdill5462 10 ай бұрын

First Big Think video that is extremely disappointing. They shouldn't let problematic company CEOs do talks next time. What next Elon and how he made Twitter a failure into the hit sensation "X." Give me a break I thought you guys could see though shitty Egos.

@Shervin86 8 ай бұрын

Having lots of money to fall back on makes it easier to take risks. Try growing up in the gutter and tell me if you're willing to risk all the money you've got.

@mahmut123456 10 ай бұрын

I hope you’ve told your launch team guys that Istanbul taxi drivers are very often reckless criminals 😂

@Highnoonshred 9 ай бұрын

Awesome! But still did not pay his drivers much as they grew...

@sssutube1 9 ай бұрын

This guy talks as though Uber grew majorly because of him. And besides there might have been many like me who came up with this basic idea of car for hire in cities. I came up with the idea in 2010.

@camillewilson2003 10 ай бұрын

This is the first time, ive seen, Big Think get it wrong with what the title of the video states and what the actual video shows. L I was waiting to hear how they messed up and got it right. But the only thing I heard was how they are awesome which was spoken about in a very out of touch, egotistical way. Lol, this was not your best moment Big Think.

@realjackpile 9 ай бұрын

Click bait and switch. Lets tell the world how amazing and roch we are.

@romiagua2746 10 ай бұрын

Ótimas ideias com ótimos resultados 👍

@tHebUm18 10 ай бұрын

3:07 So this is the guy responsible for all the numerous labor law breaking and other scummy things Uber did to grow? Interesting choice Big Think.

@lt8833 10 ай бұрын

Uber failed and retired from Morocco when taxi drivers assaulted uber drivers

@United_Wings 10 ай бұрын

Wow

@hwway4488 10 ай бұрын

I disagree that you are not punished for failure, I think you are punished for every failure

@Jewels___ 10 ай бұрын

You kinda failed on explaining how failure is a key to sucess. You did trick your CEO into a new point of view, which is laudable on itself but doesn't resonate with the video's title.

@PleasantEyes 10 ай бұрын

❤

@invox9490 9 ай бұрын

"The first time you used an Uber was magical." - Does he even listen to what he's saying. What the hell is he talking about? Like we didn't had taxis before, and STILL do. Geez, the ubris on this guy! 🙄

@mkg304 10 ай бұрын

Interviewing an Uber exec on failure... Makes sense. Interview them on corruption, market manipulation, price fixing, and bribery... Absolutely 100%. Where is innovation? Where's any examples of brilliant creative work? What's up with this channel??

@paultextor4673 10 ай бұрын

Oh I’m here early

@user-lb5bv2yp9r 10 ай бұрын

My uber account please reactive

@c.f.3503 10 ай бұрын

Second

@glookinusef 10 ай бұрын

You’re 4th!

@scdeltaa 10 ай бұрын

Uber? Really? Can it be an example of any human trait? @bigthink are u thinking small? By the way, these CEOs just don't grasp reality. Just won't see how their "fun and thriving" start up adventures ruin lives and cities.

@WarNinGXK 10 ай бұрын

Since when you are *NOT* punish for failing? That's complete BS. That's a big reason why people get fired, companies go bankrupt, people quit their lives, etc.