A Sign That Things Are Going South
Companies today are going by the ‘bleed now, make money later’ business model like Amazon.com did. What’s shocking is that some of these companies have bled more money in a year than Amazon.com ever did in its history. Take a look at Uber, while it’s not struggling to attract VC funding, it certainly is at a point where it may not be able to make a profit unless it stops paying the drivers.
Just in past one month, the upper management at Uber that left are VP of product and growth, SVP of engineering, AI Labs director, selfdriving director, VP of maps, and the president himself. Some of us may have experienced it during the 2000-2001 crash.
Then again, just because some executives have bailed doesn’t mean things are going south. It could also mean that all the bad guys have left, and now it may be time for you to move up. However, if its leaders you admire who are leaving, it’s a clear signal that the best people are indeed, jumping ship.
In recent weeks, Uber CEO Travis Kalanick has faced intense scrutiny for his role in fostering a combative internal culture. Many have blamed him for not properly dealing with the company’s human resources issues. Things are so bad that techies at Uber have taken to posting on Blind, an app where one can anonymously share grievances.
In March 2017, someone who gave themselves the title of “Hrinternal” posted that over 118 employees have resigned following a kafka-
esque meeting. The post has since been removed, and it’s uncertain whether it was someone trolling. The app has more than 1,000 Uber employees out of 11,000 Uber employees.
Recruiters and rival companies have reported an increase in job applications from Uber employees in recent weeks. Many of these applicants are saying that have lost faith in the company’s leadership. Let’s hope Uber finally manages to fundamentally change its internal culture for good.