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Former Uber CEO Travis Kalanick forms a new investment fund focused on job creation

Former Uber CEO Travis Kalanick forms a new investment fund focused on job creation

Former Uber CEO announced today that he has created an investment fund called 10100 that will oversee both his for-profit and non-profit projects. Pronounced “ten-one-hundred,” it will focus on his “passions, investments, ideas, and big bets.”

In terms of what kind of projects the fund will manage, Kalanick says he plans to focus on large scale job creation, real estate and commerce investments, as well as emerging tech businesses out of China and India. For his non-profits, they will be about education and city development. “Our non-profit efforts will initially focus on education and the future of cities,” Kalanick writes. The announcement was made on Twitter this afternoon with a prefaced note from Kalanick that read, “Some news…”

Previously, Kalanick stepped down as at Uber after a huge turbulent period and pressure from the company's shareholders. A New York Times report exposed the company's greyballing tool that was used to prevent regulators from catching rides in locations where Uber did not have permission to upgrade.

Then there was another tool at Uber called “Hell” that would send more passengers to drivers who also drive for Lyft in an effort to convince them to work exclusively work for Uber. The company's toxic culture also came to light after a former engineer detailed the harassment she experienced while working at Uber.

Kalanick's 10100 adventure will be interesting to see how it all develops. At Uber, he was known for telling everyone to have “always be hustlin” mentality.

Hamza Khalid

The Jolt Journal is your source for daily tech news, breaking, reviews, and insights.

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