Homepage / Technology / How the blockchain will prevent fights like the one currently ripping Uber apart
Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know Legal Insights and Trends: A Rap Guide Mysterious Legal Matters Unveiled Insights and Information: Understanding Various Laws and Regulations Famous People of the 21st Century The Circle of Legal Life The Intersection of Fashion Law, Legal Translation, and THC Oil: A Modern Legal Guide Legal Q&A: Understanding Joinder Federal Rules and More Understanding Legal Terms and Conditions: A Comprehensive Guide Understanding Legal Documentation in a Fun Way! Understanding Legal Aspects: From Islamic Law of Inheritance to Farm Law Protests Understanding Legal Rights: A Guide to Legal Regulations and Requirements Understanding Legal Guidelines and Agreements Famous 21st Century People in Conversation Mysterious Legal Matters Unveiled Legal Matters and Real Estate: A Conversation Between Cameron Boyce and Donald Trump Understanding Legal Expertise and Why It Matters Legal FAQs and Expert Services Understanding Legal Ramifications: Common Law Ontario Health Benefits and More The Ins and Outs of Legal Requirements: From FBI Academy Physical Requirements to Silver Lake Fishing Rules The Legal Underworld: Understanding the Significance of Laws and Rights Legal Conversations: A Dialogue Between Jon Jones and Chadwick Boseman Legal Beats: Bobcats, Real Estate, Babysitting, and More

Technology

How the blockchain will prevent fights like the one currently ripping Uber apart

Venture-backed private companies will be become more like public companies in the future thanks to cryptocurrencies, and tokenization of private companies’ interests on the blockchain.

The implications of this are profound for venture capitalists, as well as the cultures of private high-growth companies they back.

The lawsuit that Uber investor Benchmark Capital recently filed against former CEO Travis Kalanick is one of the biggest stories in tech at the moment. If Kalanick prevails, the biggest ride-sharing service in the world — last valued at $68 billion — will probably remain private much longer. If Benchmark forces a more independent board, it will probably open the door to a faster Uber IPO.

Thanks to the blockchain, a similar situation to this will almost certainly never happen again.

Here’s why.

As I discussed with David Sacks last week, the rise of cryptyocurrencies is going to bring about the “tokenization” of a number of illiquid (as well as liquid) assets in the future.

Today, the main way investors put money into start-ups is through a VC firm. You hand over your money to the firm for a 10-to-12 year period. You trust them to invest it in start-ups (like Uber) on your behalf and see it through. You hope that, far away in the future, you’ll get a good profit back on top of your initial investment. But the investment is illiquid. For the next decade, you can’t tap that cash for some emergency need. It’s theirs.

In the future, almost any private investment — from a limited partner’s investment in a VC firm down to the mortggae in your house — could be “tokenized” and traded.

This means the day-to-day (and even minute-to-minute) value of a privately held company will be public for all to see and potentially trade via the blockchain. You might hold your investment for its natural lifetime. Or you might decide to sell it after 6 months or a year.

In turn, private companies who sell any shares at all — including selling shares directly to venture capitalists, or allowing employees to sell shares on secondary markets — will no longer only have their valuations set by a small clubby group of self-interested investors.

The interests in these companies will be tokenized and fluctuate every day on the blockchain, just as public companies see their valuations change every day when the stock market is open.

With Uber, its last valuation was set by investors, founders, and its board at $68 billion. Since then, the company has been beset by numerous scandals, lawsuits, and management changes. Yet, its valuation remains $68 billion, or about 4.5x the current valuation of Snapchat, until the next sale of shares happen. (A report from The Information suggested that one potential investor, SoftBank, is looking to buy shares a price that would value it at $40 billion to $45 billion.)

But once Uber’s private shares become tokenized, the valuation will change constantly based on the trading prices and all employees, investors, and outside observers will see that.

This will immediately change behaviors inside private companies. Investors such as Benchmark and its former board representative for Uber Bill Gurley will easily be able to sell their interests in private companies if they want to. They won’t need to wait for an IPO to take place to do this.

That will impose market-driven discipline on CEOs of all private companies.

What would the effect of seeing Uber’s valuation drop from $68 billion to, say, $45 billion in a matter of 6 months have done to the way the company runs itself at the board-level and management-level? My guess is that this drop would have forced much bigger leadership changes much earlier.

It would be irrelevant whether Uber board member Arianna Huffington supported Travis Kalanick or Bill Gurley. If Uber’s valuation dropped $23 billion in 6 months, there would be enormous stress on the board to take corrective action to get the valuation back to where it had been just a short time ago.

There’s a myth among some in Silicon Valley that Wall Street investors are short-term oriented and greedy, while they — with their longer-term and clubby approach — allow companies to mature slowly and as they should. It turns out that Wall Street provides a more accurate current assessment of a company’s valuation because it is a deeper market with more participants. This greater accuracy won’t allow companies to avoid problemswhich should be dealt with sooner.

This won’t stop great companies from being founded and reaching their full potential. One of tech’s greatest founders — Jeff Bezos — has grown Amazon in full glare of the public markets since 1997, always with encouragement from those markets through a high stock valuation that ignored current losses.

Bitcoin will make all private companies public companies in the future — and that will be for the better of everyone.

Commentary by Eric Jackson, sign up for Eric’s monthly Tech & Media Email. You can follow Eric on Twitter @ericjackson .

Source: Tech CNBC
How the blockchain will prevent fights like the one currently ripping Uber apart

Comments are closed.