In this video, Emil Michael, former Chief Business Officer at Uber, discusses the importance of innovation and ambition in business. He highlights that failure is a natural part of innovation and that great leaders, like Steve Jobs and Elon Musk, have all experienced failures. Michael emphasizes the significance of thinking globally, having an ambitious vision, and systematizing global expansion. He also shares insights into Uber's challenges and successes, including their strategic decision to merge with a competitor in China, which he frames as a win. Overall, the video underscores the value of embracing failure and pursuing ambitious goals in the world of business.
Here are the key facts from the provided text:
1. Innovation requires failure.
2. Steve Jobs, Elon Musk, and other great leaders have all experienced failure in their endeavors.
3. Early versions of Teslas had battery issues that made the cars stop.
4. Travis Kalanick, the founder of Uber, had an exponential growth mindset.
5. Being a great leader requires ambition and the ability to attract others to your vision.
6. Uber had a business model that worked from day one, offering a revolutionary consumer experience.
7. Thinking globally, having ambition, and systematizing expansion are crucial in the tech world.
8. Uber created a Launch team to systematically expand to new countries.
9. They developed a playbook for launching in new countries, focusing on research and preparation.
10. Systematizing global expansion was an innovation in the tech industry.
11. Uber faced challenges in China, competing with DiDi and spending significant amounts of money.
12. Emil Michael worked to convince Travis Kalanick that merging with a competitor in China was a smart business decision aligned with their vision.
These facts summarize the key information without including opinions.