Sum and Substance: Travis Kalanick is having the sale of the century.

The Uber Technologies Inc. co-founder unloaded $350 million of stock this month, bringing his proceeds to more than $2.1 billion since a share lockup ended Nov. 6.

The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3-billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup.

Co-founder Garrett Camp also has reduced his stake, though not on the scale of Kalanick. He has sold about $35 million of shares, a fraction of his $2.1-billion holding. Another insider is taking the opposite approach. Chief Executive Dara Khosrowshahi bought about $7 million worth of shares on Nov. 18….

Still, the stock has fallen about 33% since Uber’s May public offering as investors question its path to profitability amid regulatory challenges and controversies about passenger safety and drivers’ rights.

My Take: Travis isn’t wasting any time unloading his stock. What does he know that other investors don’t know? I suspect he knows a lot others don’t know.

Story Here

Uber hasn't been around THAT long, And isn't widely used, at least around here. How can it have made billionaires of it founders?
The whole thing sounds fishy, like maybe some sort of money laundering going on or just cooking the books to increase profit from investors.

It's VERY popular here on the east coast ....
Lyft is used a lot by college kids, Uber for weekend drunks ...