Uber Goes Nuclear, Facebook Shoots at YouTube, Snap is Cracking, SoundCloud Might Pop and Coinbase Raises $100 Million

TMax

Good Friday Morning,

 

It’s Tucker Max, filling in for Cliff. Feel free to send your feedback to tucker@bookinabox.com and follow me on Twitter here.

 

Daylight – The big news this morning is Travis Kalanick, co-founder and former CEO of Uber, was sued by Benchmark Capital for fraud, breach of contract and breach of fiduciary duty. Benchmark lead Uber’s Series A and owns 13 percent of the company. In short, they are trying to kick Kalanick off the board. It’s not totally unprecedented for a VC to sue a founder, but this is different. Uber is the largest private VC backed company in America, and this is a lawsuit that will have huge impacts on the world of VC, tech, start-ups, finance, private equity and even nations (the Saudi Sovereign Wealth Fund is a big investor in Uber). If you’re keeping score at home, Uber still has no CEO, CFO, COO, is losing $3 billion a year, has a gender culture crisis and is facing a giant autonomous unit lawsuit from Google…