During my seven years at Uber, we expanded to 70 countries, completed 5 billion rider trips, and achieved a $70 billion valuation.

The misconception that Uber's success was due to reckless spending ignores the strategic decisions made by its founders.

Scaling negative margin businesses, like those seen in ride-sharing, has become more challenging due to rising interest rates and investor reluctance to fund such models.

I regret not investing in Airbnb when I had the chance; I was focused on my own startup and missed the opportunity to meet with them before they signed with Sequoia. If you move slowly in investing, you're likely to face adverse selection; companies that take too long to engage may not be the best opportunities.

Uber's strategy of spending money rapidly was misinterpreted by others who didn't grasp the underlying reasons for its success.

In fundraising, securing a top-tier investor who adds value can be worth millions to your company's valuation, as seen with Airbnb's experience.

The venture capital landscape has shifted to favor companies that can scale quickly and dominate their markets, leading to larger valuations for fewer companies.

Many startups superficially imitated Uber's scaling tactics without understanding the context, leading to poor outcomes.

The best companies often have a total addressable market that isn't obvious at first, as seen with Uber's expansion beyond just the taxi market.