Travis Kalanick slams venture capital, claims only 1% are truly helpful
On a recent podcast, Travis Kalanick criticized most venture capital firms, saying just 1% add real value, while still advising founders on fundraising tactics.
In a weekend episode of David Senra’s podcast, former Uber CEO Travis Kalanick expressed lingering resentment over his 2017 ouster following a dispute with Benchmark partner Bill Gurley. While Atoms recently secured $1.7 billion from Andreessen Horowitz, with Ben Horowitz joining its board, Kalanick argued that only a tiny fraction of venture capitalists are truly beneficial, estimating 10% meet a “do no harm” threshold and just 1% are helpful.
He likened founders to chess masters and VCs to occasional enthusiasts, noting the inherent tension when founders ignore investor advice. Kalanick still recommends founders perfect their pitches to ignite bidding wars, balancing detail without overwhelming detail. He cautioned entrepreneurs against a victim mentality, urging self-reflection on their role in conflicts. The discussion prompted other entrepreneurs like Mark Pincus to share their own negative experiences with firms such as Accel, while Andreessen Horowitz highlighted the episode on social media.
Why it matters
The comments reveal ongoing friction between founders and venture capitalists, influencing how startups approach funding.
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