Music Mogul Troy Carter: Why I Invested in Uber (Guest Column)
"I don't think anyone could have predicted that Uber would now be worth close to $100 billion," Carter, who manages John Legend, tells THR about the company's success, which was far from assured when it first launched in 2010.
This story first appeared in the Nov. 27 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.
Six months ago I ordered an UberX from Palo Alto and an elderly woman picked me up. During our ride she explained that Uber has given her the freedom to supplement her fixed retirement income, something that wasn't an option for her before. That ride crystallized for me how transformative Uber has been since it launched in 2010 in San Francisco.
I don't think anyone could have predicted that Uber would now be worth close to $100 billion, but I believe it could become one of the most important companies in the world. As an investor, I initially had questions about Uber's long-term potential given the pushback the company was getting from the San Francisco taxi industry, but CEO Travis Kalanick explained that someday Uber wouldn't just move people, it would become a global logistics platform with the ability to move things.
The sky's the limit for how far this company will go, and if Elon Musk gets us to Mars, Travis will have Uber there upon our arrival.
Atom Factory CEO Carter manages Meghan Trainor and other artists.