All Segments
Dara Khosrowshahi, CEO, Uber
29 segments available
“People often optimize for the role or for the company. The first thing I optimize for is who I will work with. Don’t bet on companies, bet on people,” Dara Khosrowshahi, CEO of Uber, told students at today’s View From The Top event. Khosrowshahi discussed his departure from Expedia and his approach to shifting company values at Uber to focus on diversity and inclusion. “An important factor in our change was setting a new culture and new norms,” he said. “We crowdsourced those norms and asked people – what kind of company do we want to be?” Khosroshahi advised students to let go of benchmarking via titles and salaries when it comes to career goals. “Have a theme but don’t get locked in. I’m always looking around to make sure my own biases don’t prevent me from seeing something great,” he said. “When you’re lucky enough to take that risk, jump!” Khosrowshahi was interviewed by Lepi Jha Fishman, MBA ’19.
Segments Timeline
The Power of Product Market Fit
Dara Khosrowshahi engages with students about the significance of product market fit, highlighting the overwhelming usage of Uber among the audience. He sets the stage for discussing his journey from Iran to becoming the CEO of Uber, emphasizing the importance of understanding market needs.
"thank you so much for being here we're thrilled to have you today obviously a lot of excitement here let's just take a quick poll how many of you use uber that's like a hundred percent thank you use u..."
From Iran to America: A Journey of Assimilation
Khosrowshahi shares his personal story of fleeing Iran and the challenges of assimilation in the United States. He reflects on his childhood experiences, the role of family, and how sports helped him connect with peers, shaping his identity as a leader.
"professors are talking about when they are teaching us about product market fit now how many of you have used uber pool Wow pretty good 75 yeah it's good so we have so much to talk about today I would..."
Lessons from Early Challenges
Reflecting on his early days in America, Khosrowshahi discusses the difficulties of language barriers and cultural differences. He emphasizes the importance of family support and education in overcoming these challenges, which laid the foundation for his leadership style.
"United States when you got here you didn't speak fluent English sometimes you introduce yourself as Darren Kay instead of Derrick coaster shahe those were dark days yes how did how did the challenge o..."
Finding Mentorship: The Barry Diller Connection
Khosrowshahi recounts his first encounter with Barry Diller at Allen & Company, where he learned the value of mentorship. He shares how Diller's approach to seeking information directly from the source influenced his career and leadership philosophy.
"so I was very very low on the totem pole and I had to assimilate even before I came to the States whatever was going on I had no no say in the matter and coming to the States for us what we had was we..."
The Importance of Direct Communication
In this segment, Khosrowshahi highlights the significance of direct communication in leadership. He explains how Diller's insistence on understanding the core of information helped him navigate complex business situations and fostered a strong mentor-mentee relationship.
"family to come home to we were very lucky to have a very strong education in Iran and we continue to have a strong education in the US I learned a lesson that if you don't understand what someone is s..."
Transitioning to Expedia: A Career Milestone
Khosrowshahi discusses his transition to Expedia, where he grew the business significantly. He reflects on the lessons learned from his time with Diller and how they shaped his approach to leadership and decision-making in the competitive online travel industry.
"keep up with sports oh yeah absolutely I'm uh I'm of course I'm a big Premiership soccer fan so that's my I wake up at 5:30 in the morning my wife says I'm crazy but she's good with it so it's hard to..."
Navigating Competition: Lessons from Priceline
In this segment, Khosrowshahi analyzes the competitive landscape of the online travel industry, particularly focusing on Priceline's rise. He shares insights on strategic decisions made at Expedia and the importance of adapting to market changes.
"a hostile tender offer that Barry had launched for Paramount Pictures he was running QVC there was a deal for Viacom which was a big conglomerate is a is a big conglomerate to buy Paramount Pictures a..."
The Innovator's Dilemma: A Critical Insight
Khosrowshahi delves into the concept of the innovator's dilemma, discussing how Expedia's reluctance to lower margins hindered its ability to compete effectively. He emphasizes the need for businesses to embrace low-margin models as a pathway to growth.
"that was this and I was on the trading floor just this nobody and he found out that I was wearing the deal model and he comes up to me he's like you're you're the one running the deal model right yes ..."
Adapting Business Models for Success
Khosrowshahi reflects on the critical moment when Expedia realized the need to adapt its business model. He discusses the challenges faced in transitioning from high-margin to low-margin strategies and the importance of leveraging technology for growth.
"still remember his uh he he released a statement saying we lost they won next you know and when I read that thing I'm like I want to be a part of next so with that he went after he we went after a bun..."
Taking Ownership: A Leadership Decision
In this segment, Khosrowshahi shares a pivotal moment in his leadership journey when he decided to take ownership of the Expedia business after struggling to find a suitable leader. He emphasizes the importance of accountability and personal investment in leadership.
"and and that the one lesson that I learned from Alan and company Herbert Allen was the is was a CEO of the time he always said that as an investor he didn't bet on companies he bet on people you know ..."
Embracing Low Margins for Growth
Dara Khosrowshahi discusses the strategic shift at Expedia from a travel company to a technology company, emphasizing the importance of accepting low margins as an asset rather than a liability. He reflects on the challenges of reducing revenue percentages and the lessons learned about cost discipline and market share.
"and shape their business based on low economics and low margins and then expand an expansion is inevitably faster if you have a low priced product especially in the internet world where you know price..."
Learning Through Leadership
Khosrowshahi shares his experience of stepping into the operational role at Expedia.com after struggling to find a suitable leader. He highlights the invaluable lessons learned during this period, including the integration of business and technology, and how it ultimately contributed to the turnaround of the company.
"took us it took us a couple of years to realize and then we started engineering it over a period of two or three years what allowed us to engineer it was really making the bet on our core technology p..."
Negotiating with Transparency
In this segment, Khosrowshahi reflects on his negotiation process with the Uber board, emphasizing the importance of honesty about his capabilities and expectations. He shares insights on how transparency can lead to a win-win situation in negotiations, drawing from his experiences with Barry Diller.
"spot had I not made the mistake of not being able to find the right person to run Expedia comm moving on from Expedia my painful loss the booking thank you well it's a win in the end right two to ten ..."
Defining Winning in Career Choices
Khosrowshahi discusses his perspective on winning, emphasizing the importance of taking risks and making impactful choices rather than focusing solely on titles or roles. He recounts a pivotal conversation that shifted his mindset towards pursuing opportunities that allow for significant contributions.
"company and I still remember it was a that there was the various candidates and and there were other candidates who were much better known you know they're like capital letters candidates they came in..."
The Importance of Team Success
In this segment, Khosrowshahi elaborates on his belief that winning is about teamwork and shared success. He stresses the value of playing an important game with a supportive team, highlighting that the journey and the stories created together are what truly define success.
"transparent person on earth he just lays it out there I think you you diane von fürstenberg was here and you know I fear she was pretty transparent about a lot of things it's just it's it's part of th..."
Transforming Uber's Culture
Khosrowshahi addresses the cultural challenges at Uber, particularly the issues stemming from a culture of 'begging forgiveness' rather than 'asking permission.' He reflects on the necessity of evolving the company's culture to ensure long-term success and stability.
"I've got a team around me and if we win it's gonna be a great story one of the central tenants you mentioned was going to a place where you can have impact yeah to be sure there was a lot to do at ube..."
Learning from Success and Failure
In this segment, Khosrowshahi reflects on how success can overshadow failures within a company. He notes that Uber's early achievements were often attributed to its aggressive culture, which ultimately masked underlying issues. He stresses the importance of recognizing both successes and failures to build a resilient company culture.
"I know that it's very easy to criticize it after the fact etcetera but the fact is that there are very few companies that have created the kind of brand and the kind of service that that team created ..."
Diversity and Inclusion at Uber
Khosrowshahi highlights the need for diversity within Uber's culture, emphasizing that the company must reflect the diverse communities it serves. He discusses the importance of fostering an inclusive environment that values different perspectives and experiences, which is crucial for the company's growth and connection to its global markets.
"and I think that you know I have an experience the kind of success that Hoover experienced early on I don't know if I would have seen it because because they're too busy winning and they're too busy b..."
Building Partnerships with Drivers
Khosrowshahi shares how Uber is shifting its approach to treating driver partners as true collaborators. He explains the importance of involving drivers in the development of new products, such as the driver app, and highlights initiatives like insurance partnerships that aim to better support drivers and enhance their experience.
"think not diverse enough there was one way and there was the only the way that was defined kind of as a uber way the company had not taken the time to think about diversity of thought diversity of ori..."
Uber's Global Impact
In this segment, Khosrowshahi discusses Uber's unique position as a technology company that directly interacts with cities and communities. He emphasizes the importance of understanding local needs and building a company culture that is responsive to the diverse populations Uber serves, positioning the company as a leader in both technology and social responsibility.
"as a company to be as diverse as the business the riders and the drivers that we're serving to be diverse in our views in our international viewpoints etc and we are working very hard and bringing a l..."
Customer Obsession Over Competition
Khosrowshahi argues that Uber's focus should be on customer satisfaction rather than solely on competitors. He explains that by fostering a customer-obsessed culture, Uber can leverage its global scope and diverse product offerings to succeed in the market, rather than getting distracted by the actions of competitors.
"one specific example of a seed that you're sowing right now that that could actually ultimately look like what you're describing as an ideal stone well I think you know we're thinking about our driver..."
Balancing Growth and Profitability
Khosrowshahi addresses the challenge of balancing investment in growth and innovation with the need for profitability. He candidly states that Uber may not achieve predictable profitability in the near term, encouraging investors to focus on the company's long-term vision and the vast market opportunities ahead.
"doing internally and you mentioned that another one of your tenants is going to a place that actually can have an impact and indeed uber has shown and demonstrated that potential a former high-ranking..."
Customer Obsession at Uber
Dara Khosrowshahi emphasizes Uber's commitment to customer obsession, focusing on riders and drivers. He discusses the importance of internal focus over competition, highlighting Uber's unique global scope and diverse business lines, including rides, Eats, and future innovations like vertical takeoff and landing products.
"is customer obsessed and our customers are the riders and the drivers and that is you know if there's a silver bullet I don't want to shoot it at the competitor I actually want us to accelerate this k..."
Balancing Growth and Profitability
Khosrowshahi addresses the challenge of balancing investment in growth and R&D with the need for predictable profitability. He candidly states that Uber will not prioritize predictable profits, encouraging shareholders to seek traditional investments if that is their goal.
"lots of product lines and on top of that you're planning on going public next year yes how do you we talked about this a little bit and specifically in the context of uber how do you trade off investi..."
Long-Term Vision vs. Short-Term Gains
In this segment, Khosrowshahi shares his approach to innovation, expressing a preference for quick wins and long-term projects. He emphasizes the importance of focusing on product development and attracting the right investors who align with Uber's long-term vision.
"bank don't come to us I noticed when you were describing your just I'd rather be truthful I can't wait for your shareholder letter hey I did have when I was when I was at Expedia I I had a still remem..."
The Future of Autonomous Vehicles
Khosrowshahi discusses the integration of autonomous vehicles within Uber's rideshare model. He believes that successful commercialization of autonomous technology will depend on its synergy with ridesharing, positioning Uber uniquely in the market.
"markets that we're going after are so big and the position that we have is unique and by the way we have lots of tough tough competition that we will find investors who hopefully agree with us that th..."
Uber as a Mobility Platform
Khosrowshahi envisions Uber as a comprehensive mobility and transportation platform, integrating various modes of transport. He highlights the importance of collaboration with third-party services to enhance user experience and provide real-time data for efficient travel.
"same and the Vantage that we have the magic is that we are able to have them under one roof and when we develop autonomous we can develop it for a very small use case which is for let's say 1% by the ..."
Maintaining Sanity Amidst Pressure
Khosrowshahi shares personal insights on managing stress and maintaining perspective while leading Uber. He credits his family as a support system and reflects on his journey, emphasizing the importance of resilience and commitment to his role.
"provided by cities the bus service metro service etc we want to have all of that available in uber so that if you say I want to get to the city now what is the best way for you to get to the city and ..."
A Quick Lightning Round
In a light-hearted segment, Khosrowshahi participates in a rapid-fire question round, revealing personal preferences and anecdotes. This fun interaction showcases his personality and provides a glimpse into his life outside of work.
"spot it's interesting because before you came to over at Expedia we tried to travel to India your visa got denied yeah but apparently I wasn't a big deal enough Oh BRR I got like of these like that it..."