Kalanick for jobs

Disgraced former Uber head Travis Kalanick has launched an investment fund with the primary objective of creating jobs. More specifically the fund will be investing in real estate, e-commerce, and emerging innovation in China and India and the emphasis will be on ‘large-scale jobs’.

“Over the past few months I’ve started thinking about what’s next,” he posted on his blog. “I’ve begun making investments, joining boards, working with entrepreneurs and non-profits. Today I’m announcing the creation of a fund called 10100 (pronounced ten-one-hundred) home to my passions, investments, ideas and big bets. It will be overseeing my for-profit investments as well as my non-profit work.”

It’s not clear how well-funded this new employment vehicle is but Kalanick got an estimated $1.4bn when he sold off his Uber stake. What also remains unclear is what he means by ‘jobs’ – if it’s the gig economy type, that’s stretching the definition of employment as one-third of Uber drivers actually lose money working for the company, according to a new study.

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