by Cliff Oxford
Uber to Racists: “Delete Uber.” It motivates these thoughts—has the company lost its damn mind? We are way past a bad business model here. More like cloud nine¹ going over a cliff. Applaud an Apple or Amazon for this message but not a company with a driver rebellion in California and losing its ass everywhere else. Double down on short.
Side Deal—Let's Go with Social Justice. Free one-way rides to protests might be a better way to spend $10M in 13 cities and get an ROI. White liberals have a great way of overestimating racism in others and underestimating in themselves. By the way, this “brand” campaign for Uber is 2nd one run by Wieden + Kennedy. First one was “Thanks for not riding with us during COVID.” Is Arianna² still around?
A Fire I Can’t Put Out—Here is lesson on why TikTok CEO Kevin Mayer voluntarily resigned five months after taking job and leaving Disney as a top-tier executive. Disaster from day one when he walked in door: “I’ve got to get my arms around this,” “It’s moving too fast,” and all the other stuff we hear with bad hires. Dude, it’s TikTok. Fast. The founder turned everything back over to his internal people who grew the thing like wildfire. Mayer was so miserable with the staff—he couldn’t even fake it one more day much less a few weeks until they are sold.
Daily Deal—Run it in the dirt, AT&T is trolling to unload DirecTV again. No strategic buyers so it is hitting up Private Equity firms. They paid $49B and now asking $20B, which means you could get it for $12–$13B and their recurring revenue could cover the note. If NFL cancels season, it's over.
IPO Glow—COMPASS Pathways, a Peter Thiel-backed startup using “magic mushrooms” to treat depression, filed to raise up to $100 million in IPO on Friday.
The company has yet to post a revenue and had a loss of $19.3 million in 2019. It slowed enrollment of new patients into its clinical trials and blamed it on COVID. Right.
The psychedelics movement is promising, but still early stages—a little too early for me to dip my toe in so I sit this one out and enjoy Mellow Mushroom³ more.
Entries/Exits—BlueCity acquired LESDO, a Chinese lesbian dating app.
1 A state of perfect happiness.
2 Arianna Huffington, founder of Huffington Post, was once on the board of Uber and lobbied hard to become the new CEO.
3 A Southern pizza chain.
Porsche launches new Single-Vehicle Subscription program.
"Porsche Drive" is the new brand umbrella for monthly and short-term mobility access.
With an increased focus on consumer choice in an age of new mobility models, Porsche Cars North America introduced a monthly Single-Vehicle Subscription program in Los Angeles, Atlanta, Phoenix, and San Diego. Starting September 25, Porsche Drive members will be able to choose from a variety of current Porsche model variants for shorter-term vehicle access than a traditional lease or purchase.
With Porsche Drive, you choose your level of commitment. You can subscribe for a month at a time, or longer, with the option of daily and weekly rentals as well. Find the program that best suits your needs.
Porsche Drive—Single-Vehicle Subscription
Choose, then choose again. Subscribe to a current Porsche model for one or three months, with concierge delivery and pick-up within the delivery area. With the exception of fuel, costs including insurance and vehicle maintenance are a part of the flat monthly fee that varies depending on the model variant.
Porsche Drive—Multi-Vehicle Subscription (Previously Porsche Passport)
Porsche fleet at your fingertips. Become a Porsche Drive member and subscribe to the monthly service that gives you the flexibility to drive as many Porsche mode as you desire. Your subscription includes insurance, flips between models and vehicle maintenance. Daily commute or weekend driving thrills? There is a Porsche ready to complement every occasion.
Don’t dream it, drive it. The daily and weekly rental service that allows you to rent a Porsche on demand. Make your next date night extra special with an iconic 911 or add driving thrills to your upcoming family road trip with the Macan. It’s not your standard car rental, and you’re not the standard driver.