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00:00DIA AND AN EARLY INVESTOR IN UBER. >> SECOND ROUND. >> YOU CAUGHT UP. BETTER LATE THAN NEVER. WHY DID YOU PASS? >> THE TWO FOUNDERS WERE NOT GOING TO OPERATE THE BUSINESS. AT THE TIME IT WAS UBER CAB. >> WHAT DO YOU THINK ABOUT THE CONTROVERSIES? LET'S TAKE PRICE GOUGING. >> YOU MEAN PRICE SURGING. YOU HAVE TO TYPE IN THAT YOU ARE CONFIRMING THAT YOU UNDERSTAND THAT YOU ARE GETTING CHARGED MORE. NO DIFFERENT THAN WHEN YOU PAY MORE FOR A FIRST CLASS TICKET ON AN AIRLINE THAN A COACH MIDDLE SEAT. UBER IS A HOT COMPANY, LIKE FACEBOOK BEFORE IT AND GOOGLE OR MICROSOFT OR APPLE. ANYTHING THAT GETS BIG, THE WORLD LIKES TO TEAR DOWN. RIGHT NOW, EVERY NEWS ARTICLE AND TV SEGMENT TALKING ABOUT IT IS GOOD FOR THE MEDIA COMPANIES. IT'S WORTH DEBATING. >> THERE'S NEWS AROUND IT. WHAT ABOUT THE RAPE IN BOSTON AND NEW DELHI? THERE ARE SERIOUS ISSUES AROUND UBER. >> ANYBODY WHO IS WATCHING REALIZES THIS SAME UNFORTUNATE THINGS ARE HAPPENING AROUND REGULAR YELLOW CAP TAXIS AND BLACK CARS. NOBODY IS TALKING ABOUT THAT BECAUSE THE UBER BRAND IS NOT ASSOCIATING. >> BECAUSE NOBODY IS RAISING AT $40 BILLION. >> IT IS SIMPLE. IT COMES DOWN TO CAPITALISM, MODERN JOURNALISM, A COMPANY THAT IS NOT EVEN FIVE YEARS OLD EVOLVING IN THE HYPERGROWTH THAT COMPANIES PRIOR TO THIS NEVER HAD TO DEAL WITH BECAUSE THE SCALE OF THE INTERNET ITSELF, WHERE ALL THE SERVICES ARE BUILT ON, IS CREATING SPEED. >> HAVE YOU REACHED OUT TO UBER, HAD THEY REACHED OUT TO GET SOME ADVICE? >> TRAVIS IS A FRIEND OF MINE. I'M NEVER GOING TO ADD MY TWO CENTS . I DON'T THINK IT IS APPROPRIATE. >> YOU ARE GREAT AT MARKETING. YOU KNOW ABOUT BRAND BUILDING. >> AS FLATTERED AS I AM, I THINK AT THE END OF THE DAY I HAVE TOO MUCH RESPECT FOR THE FACT THAT THEY HAVE GOOD PEOPLE AND A LOT MORE CONTEXT THAN I DO. THEY KNOW THEY CAN TAP ME, I'M NOT UNAWARE OF WHAT IS THE STORY RIGHT NOW. ESPECIALLY THE VIEWERS OF THE SHOW LIKE THIS REALIZE THESE GO IN CYCLES. THE BEHAVIOR OF THE CONSUMER -- >> THEY ARE STILL USING IT. >> IS PROVIDING VALUE IS PROVIDING VALUE. >> DO YOU THINK THEY SHOULD HAVE DONE SOMETHING DIFFERENTLY ? >> I'M A NET NET GUY, WHY DIDN'T THEY COME OUT FASTER OR DO THIS? NET RESULTS, IT'S ONE OF THE FASTEST-GROWING COMPANIES OF ALL TIME. I'M NOT GOING TO JUDGE AGAINST THAT. >> REGULATION SEEMS LIKE A REAL POSSIBILITY. ARE YOU CONCERNED REGULATORS COULD PUT A BIG HIT ON THE COMPANY? >> I COME FROM THE ALCOHOL BUSINESS. I'M AN INVESTOR IN UBER BECAUSE OF THE ARCHAIC AND RIDICULOUS WINE SHIPPING LAWS IN AMERICA THAT FORCED ME TO LOOK OUTSIDE THE WINE BUSINESS AS IN ENTREPRENEUR. IT'S SAD WHEN MONEY TRIES TO STOP INNOVATION. >> IT SHOULD GO UNFETTERED? >> NO. I THINK REGULATION IS IMPORTANT. REGULATION IS DIFFERENT THAN PEOPLE BEING AFFECTED BY INNOVATION KICKING CASH TO POLITICIANS. ARE WE GOING TO TALK REAL? WE KNOW EXACTLY WHAT IS GOING

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Why I Initially Passed on Uber: Vaynerchuk

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