In short
Podcast Notes: TBPN - Uber Founder Travis Kalanick is Back with a New AI Startup
Episode Summary In this episode, Travis Kalanick, founder of Uber and CEO of Cloud Kitchens, discusses his new AI startup, Atoms, and the evolution from his previous venture, City Storage Systems. Kalanick elaborates on the stealthy development of his new company over the past eight years, emphasizing its mission to efficiently deliver prepared meals at grocery-store prices. The conversation also explores the implications of physical AI in various industries, including real estate, robotics, and autonomous delivery systems.
Key Points
Introduction
- Host: John Coogan and Jordi Hays
- Guest: Travis Kalanick, CEO of Cloud Kitchens and founder of Atoms
- Context: Interview recorded live on TBPN
Background on City Storage Systems and Atoms
- Stealth Mode:
- City Storage Systems operated in stealth for nearly eight years.
- Employees were prohibited from mentioning the company on LinkedIn.
- Transition to Atoms:
- Atoms aims to bring meal prices closer to grocery-store prices through innovative infrastructure.
- Kalanick emphasizes the importance of robotics and real estate in achieving this goal.
Vision for the Future
- Economic Competitiveness:
- Kalanick draws parallels between his ventures and the need to innovate like Uber did for transportation.
- He discusses the need for the food industry to evolve to compete with grocery prices.
- Physical AI:
- The next era of AI includes advancements in sectors like mining, transport, and specialized robotics.
- Kalanick highlights a future where human labor may become a bottleneck in an increasingly automated world.
Challenges in Building in Stealth
- Recruitment Dynamics:
- Kalanick discusses the challenges of attracting talent without a public profile.
- His company had to develop robust outbound recruiting strategies.
- Media Landscape:
- The discussion covers how the media's portrayal of businesses has shifted from being overwhelmingly negative to a more mixed narrative that allows for optimism.
The Shift to Autonomous Robotics
- Robotics in Business:
- Kalanick’s company explores the integration of robotics into various industries, including food delivery.
- Emphasizes the importance of efficiency and infrastructure in the future of food delivery and other sectors.
Competitive Landscape
- Capital Wars:
- Kalanick speaks about the strategic importance of capital in business and how it can be a competitive weapon.
- Discusses lessons learned from his time at Uber and how they apply to his current venture.
- Insights on Competition:
- Kalanick shares thoughts on the competitive nature of the tech industry, encouraging entrepreneurs to carve out their niche.
Historical Context and Lessons Learned
- Experiences:
- Kalanick reflects on his experiences during the dot-com bubble and the 2008 financial crisis.
- He emphasizes the importance of resilience and hard work in entrepreneurship.
Miscellaneous Insights
- Cultural Aspects:
- Kalanick highlights the importance of empowering young talent and fostering a problem-solving culture.
- Discusses the significance of physical AI and the complexities of automating the physical world.
Conclusion
- Call to Action:
- Kalanick encourages talented individuals in the fields of engineering and robotics to join Atoms.
- Provides resources for interested candidates to learn more and apply.
Key Takeaways
- Building in stealth can provide strategic advantages but also presents unique challenges in recruitment and brand visibility.
- The future of physical AI will significantly impact various industries, including food delivery and mining.
- Competition will require innovative approaches to fundraising and operational effectiveness.
- The landscape of business is continually evolving, and success requires a willingness to adapt and embrace new technologies and methods.
Next Steps
- For more information about Atoms and potential career opportunities, visit [Atoms.co](https://atoms.co).
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOTransitioning from Uber to Cloud Kitchens
0:45 to 2:30
Travis discusses his transition from Uber to his new venture, City Storage Systems, emphasizing his stealth mode approach.
“I mean, I don't know how much you guys – I mean, I've just – I've been in hiding.”
The Mission Behind City Storage Systems
2:30 to 5:00
Travis explains the mission of his company and its unique approach to food delivery and infrastructure.
“It was like we had two choices when we, when we launched.”
Challenges of Running a Stealth Business
5:00 to 8:00
Travis elaborates on the challenges and benefits of running a business in stealth mode for eight years.
“You're not running your business based on headlines or thinking about what headlines are going to come.”
The Current Media Landscape
8:00 to 9:00
The discussion shifts to the evolving media landscape and its impact on business perception.
“And again, you're allowed to be optimistic about things where maybe before everything had to be negative and sort of that kind of thing.”
Cultural Impacts of Stealth Mode
9:00 to 12:00
Travis shares insights on how building in stealth mode has influenced company culture and employee mentality.
“Yeah, where you're just, in this case, like kind of taking the high road was, I'm just going to be quiet.”
Comparison of Business Models
12:00 to 14:01
Travis compares his experiences across different industries and the distinct challenges they present.
“That was, let's call it BitTorrent meets Akamai.”
Understanding Network Effects in Business
14:01 to 15:10
Explore the concept of network effects and real estate moats in business competition.
“You have the network effect now of like, what if I sell every floor on every tower, meaning every office floor is on this and I have shelves in all of these floors.”
Lessons from Capital Wars and Funding Strategies
15:10 to 19:06
Learn about strategic fundraising techniques and the impact of venture capital on competition.
“And then all of a sudden, a whole bunch of VCs were like, I want a piece of that and I didn't get Uber.”
The Future of Work and Human Value in Automation
19:06 to 28:00
Discuss the role of humans in an increasingly automated world, focusing on essential jobs like plumbing.
“what did you do strategically to set yourself up for success?”
The Future of Ride Sharing and Job Market
28:00 to 29:10
Explore the potential impact of autonomous cars on ride sharing and employment.
“five rides for every person then it goes to 20 then it goes to 100 but like if we get to this place where autonomous cars are everywhere okay and let's just say it's one in a thousand And like nobody owns cars.”
Show all 24 chapters
Automation in Mining
29:10 to 31:00
Discuss the current state of mining and the role of automation in increasing productivity.
“There's thousands of employees at a given mine.”
Digitizing the Physical World
31:00 to 33:00
Learn about the relationship between atoms and bits in technology and industry.
“So what level of abstraction do you want to operate at?”
Managing Remote Workforces
33:00 to 34:30
Understand the strategies for effectively managing distributed teams.
“I could never get behind the remote work thing.”
Empowering Young Talent
34:30 to 36:30
Discover the importance of empowering young people in startups and their contributions.
“your imagination can go pretty damn far.”
Challenges of AI in Physical Industries
36:30 to 40:30
Examine the limitations of AI in physical industries compared to digital applications.
“in your brain, not in software, is a thing.”
The Future of AVs in Heavy Industry
40:30 to 42:00
Explore the future potential for autonomous vehicles in mining and heavy industry.
“do you have one shotting on designing a machine or a robot?”
Exploring Food Industry Challenges
42:00 to 43:54
Learn about the complexities and competition within the food delivery sector.
“annoyances of the average American, regardless of where they are in society.”
Robotics in Restaurant Operations
43:54 to 46:08
Discover how robotics integrates into restaurant operations and food manufacturing.
“We had to make sure that this wasn't just a machine that made food, but a machine that makes food in the ecosystem of machines called a restaurant.”
Navigating the Landscape of Physical AI
46:08 to 47:26
Understand the relationship between physical AI, manufacturing, and competition.
“And by the way, energy is part of your tech stack.”
Reflections on Market Changes and Experiences
47:26 to 51:28
Hear insights on navigating market shifts from the dot-com era to now.
“In the 2010s, it's like, dude, that looks like Uber's thing.”
The Challenges of Raising Capital
51:28 to 54:04
Explore the changing landscape of fundraising and the importance of hard work.
“How have you processed the last two years when people are able to raise an amount of money that took you four different rooms in this entire process and they can just raise it literally without a deck often.”
Living Life in Texas: A Personal Perspective
54:04 to 56:00
Get recommendations on visiting Texas from a local perspective.
“And yeah, the challenge is like when if raising money is super easy and then you actually start building and you're like, whoa, actually money makes this possible, but it doesn't make the work easy.”
Water Skiing and Autonomous Boats
56:00 to 56:50
The hosts discuss the idea of autonomous water skiing and its potential.
“I get a little bit FOMO on like these people going to Florida.”
Building the Future of Physical AI
56:50 to 58:09
Travis elaborates on the physical AI space and the types of engineers needed for his startup.
“Not, not any individual, like one individual person, but like that.”
Transcript
Automatic transcript. May contain errors.0:00Travis Kalanick:We have our next guest ready to join us live in the TDP and Ultronome. We have Travis Kalanick. He is the CEO of Cloud Kitchens. Welcome to the show, Travis. Great to meet you. Appreciate you coming on down to our studio, our humble boat. Great to meet you. We are truly an honor. I'm just down the street. Yeah, that's right. That's right. Yeah. We were actually, we started the show in downtown LA at the Jonathan Club on Figueroa. And so I think we were even closer then. There you go. It's still not far. How are things going? How's life? Whoa. Can we turn that down? We're getting some feedback.
0:37Wow, that was crazy. Man, it's crazy. Yeah? What's crazy? The building doesn't stop, guys. Okay. I mean, I don't know how much you guys – I mean, I've just – I've been in hiding. So I've been doing this. I run a company called City, up until today, let's just say, I was running a company called City Storage Systems, which was basically about the future of food, a conglomerate operating in about 30 countries. The whole idea was, can you get a meal that's prepared and delivered to you so efficient that it starts to approach the cost of going to the grocery store? Because if you do, you do to the kitchen what Uber did to the car.
1:22so I've been doing that since 2018 yeah and after just the intensity of uber from in terms of like being in the public sphere dealing with a hundred headlines every day deciding what you do or the actions you take based on what the new york times is going to write yep I was like I would like to that's a tough way to run a business it is very tough so uh I was just like I got to wake up every day and sort of just get to work and build. So I went under the radar. Do you think of this as like stealth mode? Is that the right term? We've been in stealth mode for eight years. And that's like, till today, employees were not allowed to put the name of the company on their LinkedIn.
2:08We have thousands of employees.
2:10Travis Kalanick:Yeah, that's crazy. Okay. So today what happened was, it's like for my company, and I just got out of an all hands and then came right here is we went out of stealth. Now, City Storage Systems is like a hilarious name. It's like the most, like, let me choose the most generic name that no one will ever notice. The Business Corporation of America. It was on purpose. Yeah. Okay. And it worked. It was like we had two choices when we, when we launched. Yeah. Um, we had what my sort of normal instinct was. Remember it was only seven, eight months after I left Uber when I started this. And let's just say the mission is infrastructure for better food.
2:49We have hardcore real estate assets. We buy the assets. We do construction. We sell restauranteurs on a delivery-only location. I have a software stack that's like ARR, ARR Life. I've got a robotics company. I have a marketplace for corporate lunch. There's a ton of stuff going on. We use it. Oh, yeah, that's right. That's right. Of course.
3:10Travis Kalanick:It's great. All right. I love it. It's great. Okay. So, shit, I forgot what I was saying. So, so it's just a very different business from Uber. Some people would leave that company and be like, I'm going to start the exact same thing. I got the playbook, but this is what, this is what the Uber guys, when I left, were, were like a little bit worried about this is we're talking about 2017, 18, they're paranoid. So my, my instinct was, okay, I left at seven months later, I'm going to name my company super, you call it super. Or call it giga. I'm like, you go from Uber to super, you're like, no, that cannot be a thing.
3:47And so I did the opposite. Yeah. Full underground, full stealth, put the toothpaste back in the tube, the genie back in the bottle, and built literally thousands of employees. And it's like a vacuum of information, full lockdown. It's been great building. But today we sort of came out and we renamed the company.
4:09Travis Kalanick:we renamed what we do we call it atoms okay but we started a new company at the same time and so let's just say like uh like the physical ai and robotics action and movement through the physical world of course on the food side we already have all the things I just talked about. But think of it as like, I'm trying to get the mission. I'm so riled up. It's so fresh. Yeah. It's so fresh. But basically, it's, yeah. So I'll leave it at that. We can get rolling here. I'm like super caffeinated on four hours of sleep. I love it. I love it. How much harder, in many ways, I think building in stealth for so long made a lot of things easier, right?
5:00You're not running your business based on headlines or thinking about what headlines are going to come. What are the ways in which you made it harder? I imagine there's a lot of talent out there that wants to go work at the hot company that's in the news constantly. I'm sure you got the benefits of people maybe opting out of that path and saying, hey, I just want to come in with you and build, and I don't care about the hype, and I don't need every recruiter hitting me up constantly because of whatever's on my LinkedIn, but what were the kind of key challenges and why was now the right time to come out and start to get loud again?
5:40So like first, I mean, 100%. So imagine every recruiter has to be outbound. Every salesperson has to be outbound. There's no inbound. That's where it starts. You get good at your craft when that's what you have to do. Like I believe we have some of the best recruiters in the world because of it and one of the best recruiting systems. Now they leverage, okay, you're working with Travis,
6:01Travis Kalanick:former founder of Uber, like there's leverage there. But then you have a name like City Storage Systems and it's like, so do you guys just have like these boxes sitting in parking lots? Like, what is this? And that's sort of like, the reason it's different now is because look, number one, lots of times since the Uber, from having to live that life. but two is the world is different like in 2016 2017 the world of let's call it business press was just beginning to say business is politics but people didn't know it they're like if new york times says something everybody just treated it as the gospel like it just must be true.
6:52And if they say something bad, it must be true. I believe everything I read on the internet is an example. And by the way, this sounds crazy, but 2017, the media world was actually more negative then than it is today. And I think partly because it even shows like this. It's like, let's bring some optimism to the party. Can we get excited about what the future looks like and what's being built.
7:15Travis Kalanick:Yeah, yeah, yeah. And that's the difference between today and then. And so when you go, 95 % of all press is negative, you're like, why engage? When the world is used to business being politics, let's just say, and if I thought of my favorite journal, sorry, my favorite politician and say, what does the internet say that's bad about them? And it's like an insane amount. What does the internet say that's neg, or sorry, untrue about them? And it's a ton of stuff. and you go, well, that's how they're going to think about our company too. That's how it's going to play. We're now, we're desensitized to that stuff.
7:49And now we can get back to optimism and building and not be so worried about, you know, 95 % of the media just being negative. Sure. Yeah, I mean, this is pretty like whole trend of going direct, right? Like Lulu, I'm sure you've met at some point, basically coached a generation of CEOs on, you know, just can't if you if you want to have any control over how people perceive you you need to you need to tell you have to counteract with like a story not like a
8:20Travis Kalanick:statement and the yeah the boilerplate like you know official statement just doesn't it doesn't entertain people as well as a full read I mean it and it's also guys like Elon owns Twitter now yeah X yeah right pre post is like a massive difference in the mix of sort of ideas that can get out there. And again, you're allowed to be optimistic about things where maybe before everything had to be negative and sort of that kind of thing. Yeah, so you talked about the initial idea of naming the next company super. That would have, in many ways, I'm sure, turned into basically a spite company. Yeah, where you're just, in this case, like kind of taking the high road was, I'm just going to be quiet.
9:07I'm going to do the years and years and years and years of just like chewing glass, building up this infrastructure, getting to scale, getting to thousands of employees, getting to operating globally before you even poke your head up again, which I think is, to any of your former critics, that's, to me, that's taken the high road, basically. Yeah. And what you get when you create a culture around that is you then build a culture of builders. You build a culture of people that want to build and do not need to be famous when they do it, which basically means emotional intelligence. Now, it's a human nature.
9:44I want to be acknowledged for the things that I do. I'd like the things I build to be seen, and I'd like somebody to know that I did it. And so this is when you cut against sort of the core of human nature and we sort of went all the way yeah and so we have a very high EQ culture but like it is like you have to go the extra mile to recruit the extra mile in sales etc again the world's different LFG are the laws of physics
10:13Travis Kalanick:of the different businesses slightly different I'm just thinking about your career arc with like red swoosh is enterprise communications you're in a very particular industry. Uber is a consumer company. Now you're working on something that looks, you probably run into like real estate developers. It's like a different industry, different community. Has there been adjustments in what's different? What's the same? Like, what can you just be like a good business operator and power through? And what do you actually have to learn about the new industry? Look, I think probably the biggest one is when when you go from consumer to, because I have a, I mean, when you go from consumer to B2B, the number one mega challenge that you must master is called LTV to CAC.
11:01Yes, you could make that argument on consumer, but when you have a sales funnel that starts with, I'm going to talk to customers and I'm going, I have to make LTV to CAC work versus like my LTV to CAC is the app store. It's a whole different ball game. and LTV to CAC with a sales machine, especially if you go small business, this is like life in hard mode. And talk to anybody who's crushed it on SMB. Like those guys are special individuals who've made that happen because life in the SMB B2B world is no joke.
11:40Travis Kalanick:Yeah, so talk about moats. I feel like Uber's the greatest example of network effects and runaway scale. What did moats look like at Red Swoosh? What were you thinking then? And then what does it look like now? So like nobody knows what Red Swoosh is. Yeah, sorry. That's all good. So guys, I started a company in 2001. Yeah. That was, let's call it BitTorrent meets Akamai. Yeah, sold to Akamai. Before BitTorrent existed. Yeah. Okay, that's crazy. You click on a link and you can pull from other PCs that already have that file or that video stream But it looks like the internet. That's basically what it was.
12:20The first four years no salary. Wow Yeah, lived at my had some famous investors famous investors, you know like Mark Cuban was on the board of red swoosh so So before that scour was Ovitz and Ron Burkle. That was the company before that. Oh, I was confusing that too. Yeah, anyways.
12:43Travis Kalanick:So there's a network effect there once you get the CDN up and running. That company wasn't meant to be, and I willed it into being. And I sold it to Akamai for, I think it was like 19 million bucks. And probably to this day is still the happiest day of my life. You're like, yes, is that it? It was crazy. It was crazy. I cleared three million and I was like, praise the Lord. Okay, so then Uber, very obvious moats and scale economies. What does this look like with Adams? What does this look like in both the food delivery, kitchen model, real estate model, but then also where we're going in autonomous robotics?
13:25Look, if you look at where moats are and really you're looking for network effects in different places. Right? So right now I have these facilities. There's 30 restaurants in each of them. Picnic is like a perfect example of this. Right? You order from your office, looks like Uber Eats or DoorDash. You get a hundred options, except all the meals are coming out of my facilities. There's one courier that brings a hundred orders at a time, but it's on demand and it's personalized for you. And we've got enough facilities near here that you can basically get anything. And so who's gonna, who can play ball?
14:00Like you gotta have the real estate. That's a fricking moat. You have the network effect now of like, what if I sell every floor on every tower, meaning every office floor is on this and I have shelves in all of these floors. That means that one courier can bring a hundred orders and by the way, I'll have five couriers going to a single office with 500 orders hitting every shelf and you get notified when it arrives. if you even took one floor you would be like sad because your economics are going to be screwed because you don't have the efficiency or the operation sort of uh depth to make it work so there's network effects of a building there's network effects on a on a facility with kitchens in it sure there's um but then there's the moat of like we own real estate yeah okay so like if If you want to compete with us, go buy 100 million.
14:49So very high. Go buy billions of dollars of real estate in every major city in the world. And then we're going to go head to head. Yeah. Talk about capital. Yeah. The other, the other, the, I don't know exactly what, what bucket this falls in, but just, just the moat of you would have to be absolutely insane to compete.
15:09Travis Kalanick:But people were, people were like, this is how I remember the Uber versus Lyft battle was Uber was doing so well. And then all of a sudden, a whole bunch of VCs were like, I want a piece of that and I didn't get Uber. So I'm funding the - But I'm saying in the context of Cloud Kitchens and City Storage, even though people generally figured out what you were up to, you did have to share some little things along the way or you buy this company or - You've got to go to a website and say, what is a delivery only location? What the hell is that? And so somebody had to know. But even then we're like, we're going to say the cross streets of the facility, not the actual address.
15:49These are the little moves you do to be stealth. When I look at the new site and how everything's positioned, a lot of it feels insulated from all the changes and progress that we're seeing in AI. and in many ways accelerated because you'll get a lot of the benefits of AI progress and progress in robotics, but you're moving physical atoms around the world in an era where you can generate any piece of software fairly quickly. This feels like you've been kind of planning for this type of technology progress. Sounds great, dude. I love that. I love it. Yeah, dude, it's all in the plan. Look, I think it's always been the plan, a meal that's efficient, so efficient it starts to approach the cost of going to the grocery store, a meal that's prepared and delivered to you.
16:45That's real. You must do automated production of food. You must do automated delivery of the meal. I call that autonomous burritos, which is why I'm moving into this, making this move on atoms, which is okay. We're still doing the food thing, but then we're adding mining and transport. Okay? Mining being like more, you know, we like to say more efficient mines for Earth's industries. Or on transport, it's just wheelbase for robots.
17:16Travis Kalanick:Okay. Because if you're going to do specialized robots, not humanoids, but specialized robots, they need to have wheels. Okay. Right? I like to say, like, if you saw the Beijing, in Beijing, they had the humanoid Olympics. Yeah. And the half marathon and you're watching the humanoid cruising. I'm like, dude, could you imagine if that thing had wheels? That'd be crazy. So like humanoids have their place, but there's a lot of room for specialized robots that do things in an efficient sort of industrial scale kind of way, which is sort of where we play. I want to go back to Capital Wars, lessons from Capital Wars, when these play out, because as we're seeing this in AI.
18:00The OG, the OG. Yeah, yeah. And you, yeah. My, my, I used to be -
18:04Travis Kalanick:Were you the OG because, or when this capital war kicked off, were you looking to lessons from the nineties? I mean, look, you can always say there was the guy before. Yeah. Okay. Like, you know, Rockefeller was the OG. Yes. And then before him was it like the Medici's. I don't know. But I was, I was the goat for a period of time and now I'm a baby goat. Yeah. And that's okay. And so then one day the baby goat will grow up again. That's fine. It's going to be fine. I just mean like this idea of like you have a network effect, it's growing, and then you see a bunch of venture capitalists start throwing money at like the second place.
18:47Travis Kalanick:And there's this debate over catching up. And like how do you, what motes do you retreat to in that moment? And I feel like that's the lesson from the Uber story that gets missed amid all the random drama is that there's actually a very interesting financial war happening. And it played out very well for you. And I'm wondering what level of confidence you had, what did you do strategically to set yourself up for success? It's a super interesting thing because of course all the AI guys are playing that game right now. Which is the ability to attract capital. The capital wars becomes a strategic weapon.
19:23Capital becomes a strategic weapon, which means you must be the best at getting capital in order to win. And we realized that early on in the Uber days. Of course, that's happening times 10 in the sort of, let's call it the digital AI wars. And look, the last round of funding that I did at Uber, we were like a$60 -$70 billion pre. Let's see that. Yeah, when that used to be a thing.
19:50Travis Kalanick:Now I'm like, oh, that's small stuff. But we had four rooms. This is how we fundraise. We had four rooms in our New York office booked for a week with an hour and a half slot on each. So like for 12 hours in a day, four rooms going in parallel. Are you bouncing between them? No, I'm in the$250 million and over club. That's one room. And there's all these other There's these other rooms to the fourth room is like$25 million checks. Okay. Okay. There's a guy who works for a guy who works for a guy who works for me who's doing that room. Yeah. Okay. And then, but we're oversubscribed. So we started putting multiple investors in the same room.
20:38We're like, dude, we're just out of slots, dude.
20:39Travis Kalanick:Like, let's go. And, but what it means is it's about the system. it's about the system for a sort of acquiring that capital at scale and super efficiently and what it means is that storytelling that we did anybody in my team could tell that story let's say on the strategic finance team could tell that story and make it happen and that was a big part it was a story that's just like of course is like if i'm pitching it people like holy shit let's go then there is making it scalable so that there are 10 different people in a company that can pitch it at any given time yeah and that's when you take it all the way and then there's like even auction dynamics of how you do it we would basically once they said they were interested we would then give them a piece of paper it was like digital but it was like you need to fill out this table yeah which is this valuation how much money you want to put in this valuation how much money this much money this this valuation how much money and then we would aggregate the demand IPO book yes but like done way better because you don't respect to the bankers but like yeah i was in charge of pricing sure sure and so and then you're like oh we're trying to clear five billion dollars that takes us to this price we would tell all these guys hey your price isn't big enough because yep you don't make it under the curve and then they would move their price yep and then that would change the curve and you would do it Do it again.
22:10Travis Kalanick:Makes sense. Were you bringing new investors to private markets at that time? I feel like if I go back to Facebook, I think they IPO'd around 50 billion. You're doing a$70 billion raise. There's a lot of different, it's a completely different shape of investor. What were those conversations like? Look, in some ways I have to give some credit. This was, it was an era where this was happening. You had like the Fidelities of the world and other guys that are moving in. I have to give credit to Drew at Dropbox. He was like the first guy in that game. And, you know, Drew and I'd meet up and we'd, you know, and I'd be like, flex.
22:50Travis Kalanick:I'm like, dude, what's up? I love Drew. You're like, this is our little safe space. Yeah, I was like, Chesky at Airbnb. Like, that was the crew that was doing it in the 2010s. Yeah. And sort of pushing the boundaries of what it meant to be, like people didn't even know what private equity, what is private equity? Yeah. Now we're just like, yeah, private equity. That's VC, it's the same thing. And back then private equity is like, I do leverage buyouts. And so you're bringing private equity, mutual funds, those guys into the game in a way that didn't exist before. Now it's just old hat. Have you coached any of the AI founders?
23:29I was gonna ask the exact same thing.
Read the full transcript
23:30Travis Kalanick:Culturally, like that crew that you just described, most of them have been on the show. it feels very different aesthetically than what we're dealing with today yeah but I'm sure Chesky's pumping up Sam I love I love these guys that's so interesting look the the times when I get hit up yeah are usually when the shit is about to hit the fan or it's actually hitting the fan they're like dude, somebody needs to call Travis immediately. He'll know what to do. So I, so my phone's like, what are the crazy wild, wackiest things going down or like here? Because that's when I usually get the call and I'm so underground.
24:18Yeah. That's what happens. But like, I should, you know, I should give, you know, I know these guys, I should give them a call and be like, dude, we should. Let's cook. Let's let's cook. Yeah. I still think we probably did things better than anybody. That some of those things probably are still better than anybody even today. But obviously the check size much bigger. Is that approach like systematizing, fundraising, productizing it? Do you apply that across the entire, is that like everything that you do that is important? You're creating like a ground up kind of solution for it? Where else are you doing?
24:55Well, like for instance, I mean, this is just crazy, but like, how about when you do construction? You know how effed up construction is? I tell my guys that in the real estate department, I'm like, your entire department is the anti-fraud department. Oh, yeah. These guys just are incentivized to just run out of the bill. So how do you do epic, high-quality construction at an insanely efficient price? There's a way. I'm not going to tell you. I'm not going to tell you. but there's a way.
25:28Travis Kalanick:Do you have any white pills or ideas that potentially AI speeds up the rate of building broadly, like solving the housing crisis through - Like permitting. Permanent, stuff like that. This is, so one of the things is that, and I think people are starting to come out of this now, this whole like, the jobs are gone. Like I know people still say that, but there is another side to this story. And like, I'll just make this, because I'm the Adams guy. I'm like, let's just talk about plumbers. Okay? Let's say the entire world, everything in our world was automated except for plumbers. Okay? You had machines making buildings.
26:08You would basically have like a thousand buildings a day. A thousand buildings being built at a single time in Los Angeles alone. Sure. Just machines doing. Yeah. Except plumbers. Okay. How valuable would those plumbers be? Extremely valuable. Okay, those guys, each and every plumber would be like LeBron.
26:26Travis Kalanick:Why? Because plumbing is the long pull in the tent to progress. Sure. That you can't get those thousand buildings unless you have a plumber. Sure. And by the way, you've got so much efficiency everywhere else that you need millions of plumbers. Yeah. And then the plumbing is like, what's up? And so once you realize that, then you're like, until we get super AGI, humans are valuable. And they are going to become more and more valuable because they will be the long pole in the tent to progress. And that progress is going to accelerate and get faster and more, you know, more robust, except if you're a plumber, you're crushing.
27:15And so until we get to humans are replaced, like fully, fully. And by the way, I have, I think we have solutions for that. I think Elon's got that at Neuralink. It's going to be all good. Okay. And then people are like, oh God. But until we get there, we're going to, I believe we're going to be super fine. That's my white pill. Yeah. Yeah. Yeah. It does. If you have plumbers that are getting paid like LeBron, it obviously increases the, you know, the prize pool of automating. But again, there's like these kind of windows. But there's going to be a bunch of things like plumbing and it's not just plumbing it's gonna be all over the place and even when it comes to software so like for instance look at like autonomous cars they like like waymo has people that oversee the rides yeah okay and it starts with like okay five five rides for every person then it goes to 20 then it goes to 100 but like if we get to this place where autonomous cars are everywhere okay and let's just say it's one in a thousand And like nobody owns cars.
28:17There's just ride sharing everywhere. I mean, some people own cars, but it'd be the top of the pyramid, let's say. Okay, so what do we replace? Billions of cars with ride sharing? If it was 1 ,000 to 1, you still probably have, I don't know, 20 million jobs, 50 million jobs. I'm just riffing on just the concept of this. You will see this everywhere, is that until humans are fully replaced, we become the long pull and the tent to progress. And that progress, by the way, is to serve us. Robots don't yet have bank accounts. So that plumber gets paid. Yeah, yeah. Anyways, you get the idea. You mentioned mining.
28:58Yeah.
28:59Travis Kalanick:Have you been to a mine recently? Have you visited a mine? What's going on in mining? I imagine that mines are fairly automated already. There's machinery. There's thousands of employees at a given mine. And that's work that humans... And there's so many resources. Children yearn for the mines of Minecraft. But it's not the best job. Well, maybe that's actually how it gets... Maybe that's where it goes. It's like an Ender's Game situation. Ender's Game situation.
29:31Look, it's interesting. You go, a lot of times they're like, oh, well, is labor really the issue in my, you know, is that really a thing? But what it really comes down to is productivity. Okay. Right. So if a mine is automated, then it can run all hours of the day and night.
29:50Travis Kalanick:It doesn't have off hours. The way machines queue up, doing that really efficiently, like computer science style, I call it digitizing the physical world. You can make that mind substantially more productive. What is the value of a more productive mind? And by the way, let's get to the real sort of the outcome here. Is does the world, as we enter this sort of new golden age that's about to come, do we need more minerals? Do we need more materials? Look around us, guys. Absolutely. It's like huge. Like look around us in this studio or walk outside. everything you see is grown or mined. Yep, yeah.
30:34Manufactured and moved. Yeah. So if you're not in the mining business, like you're, like let's just say the, like I shouldn't say that, but like it's a very critical part of the situation. I can't wait till we're putting some machines on SpaceX's rockets to go mine an asteroid or a planet or whatever. In the meantime, lots of mines on planet Earth.
31:00Travis Kalanick:So what level of abstraction do you want to operate at? Do you want to go and find land and mine it? Because that's sort of on the table. If I look at what you're doing in food, you own real estate. Or do you want to sell tools to mining companies that already have explored and they understand and they're running up and running? How do you think? I'm not buying land for mines anytime soon. That's just not anytime soon. In the next three months.
31:31120 days out. I just think it's super fascinating. Again, it's just like, I'm an atoms guy. I'm like all about digitization of the physical world. And I have this framework for it, which is like CPU manipulates bits, stores, stores bits, network moves bits from point A to point B. I was a computer engineer at UCLA. I didn't graduate, but I loved it. Those are the three core computing resources that you're told about on day one. But if you're treating atoms like bits, digitizing the physical world, CPU manipulates bits. What manipulates atoms? Manufacturing. Storage stores bits. What stores atoms?
32:14Real estate. Network moves bits from point A to point B. What moves atoms? Transport, logistics. I didn't know it then or I didn't think about it that way exactly. But at Uber, we were building network for the physical world, also known as digitized transportation. City storage systems then make sense. Storage for the physical world, that's real estate. We're building atoms-based computers with a real estate foundation. Storage, right? But now leveling up and saying, okay, we have a food computer. What about a mining computer? And what about a wheel-based platform to serve industry generally?
32:53Travis Kalanick:Yeah. If I look at the last two decades of your career, you're uniquely good at managing very geographically spread out workforces. What is the secret? I could never get behind the remote work thing. Everyone here works in one studio. But you've had to do it basically because you had to have a presence in New York. you had to have a presence in LA and you can't be in 10 places. It's all good. There's a difference. How do you do it? There's a difference between remote work where somebody works at home and they're like in boxers and then a suit. Okay. Versus we have an office in every major city in the world.
33:35And whatever city you're in, you're going to that office every day, five days a week. Yes.
33:39Travis Kalanick:And sometimes six or seven and that's it. But satellite offices still feel like a headache. How did you solve it? Because you can only be in one place. Yeah, I guess I just, I cracked the code so thoroughly in Uber times before, I think maybe even before anybody else. Yeah. It almost feels like normal. Yeah. But like I basically have figured out sort of the management and leadership structures where you, the real thing is about empowerment. Okay. is you must be able to empower teams. But I like to say the fewest number of rules while staying out of chaos. And once you have those systems in place, your imagination is only constrained by management capacity.
34:27So once you figure out the management piece, your imagination can go pretty damn far. And so it's just figuring out the management part of this is the thing.
34:37Travis Kalanick:Talk about empowering young people. We've had a ton of founders on the show who have the origin story of like, yeah, I was the GM of Miami or so. He sent me to Atlanta and I was me in a hotel room with a bunch of energy drinks. And we had to open up this market. So we had to do a stunt and hire some people. And it just felt like, you know, startup within a startup is a bad phrase that gets sort of misused. But why were you, you know, you weren't, this wasn't your first company with Uber. Why were you so heavy on leaning on young people, empowering them, pushing them? It wasn't on purpose. It was just the right answer.
35:16Okay. Why?
35:21Yeah, I mean, once you have a city team and you're like, okay, I need to find people that can run this, like old people aren't the answer. Like I need fresh. I didn't think of it as like, I got to get youthful people or not. Sure. I'm just like, I need good talent that can go do X and who has no judgment on what it is we got to get done. And it was just like water flows downhill. So what do you look at? It was like the first driver ops guy that we brought in in San Francisco in 2010. We basically took 200 cards and put names on them. And we said, alphabetize them. Click. and we just would measure how much time it took to alphabetize.
36:07We would give them like crazy analytics tests and then we're like, okay, this is our guy.
36:12Travis Kalanick:You know what I mean? Free AI. If you're on the marketing manager, if you're on the marketing manager, but even today you'd still want that guy. Yeah. Even today. So like you can't use AI, now alphabetize in the most efficient way. Now, if you know computer science, sorting is like a big fricking deal, sorting efficiently and being able to do that in your brain, not in software, is a thing. That's what ops people do. So I don't know. I don't know how to answer that question other than problem solving, whether you're young or old, executive or junior, who can solve problems is number one. When you interview, simulate what it's like working together so that day one is really like week two.
36:59And you're already pumped because you saw them in action. How are you with Adams? How are you thinking about recruiting and how are you going to change your approach to building the company? You've been kind of holed up in LA. This is your kind of hideout. Yeah, totally. But I imagine like, do you, do you push into back into SF, go back to being the king? Well here. So first, let's just be clear on December 18th, I moved to Texas. Sure. You know, I don't know what's so specific about December 18th, but Let's just say it's prior to January.
37:31Travis Kalanick:Yeah. So I'm a primary resident of Texas, but the action for a lot of this Adams-type technology I'm talking about, of course, like the Bay is a real thing. My head of the advanced technology group at Uber is running my robotics division at Adams. It's called Lab 37. That's Anthony? In Pittsburgh. No, no, that's Eric Meyhoffer. Okay, Eric Meyhoffer. So that's robotics on the food side. Yeah, Anthony Evendosky was running Pronto. I was the largest investor in Pronto, and then we just were basically right in the final, like we're checking off the list, maybe closing today or tomorrow on that deal.
38:13Amazing. Let's talk about that deal. Yeah. Give us kind of background on Pronto and then how it fits into the empire. Well, look, I sort of broke out how mining fits. Yeah. Right. So we got that. Look, I bet I'm the largest investor in Pronto. And it's super inspiring work like like go to a mine. Right. Check out how these things work and let your mind imagine what that might look like. When you bring automation to it and how much more productive it is and what that means for industry when all mines are producing more. where does that go? And in some ways you could say low-hanging fruit on the autonomy problem because yes, there are different problems off-road, but they're way more controlled than what's going on on-road.
39:10But then you get into the physical action, like cars on the road, the Waymo's on the road, they're moving, but they're not acting on atoms. So when you think about excavation and you think about crush like when you get the material and then you move it then you are basically crushing the material and then you process it you think about all of the automation through that stack it's fantastic and it's like it's hard right like I somebody asked me like we have a bunch of roboticists that make some of our food machines and somebody came like hey, is AI gonna help us design food machines? We're like, dude, let me show you.
39:55Like this thing has like an insane number of parts and let me show you just the design of a single part.
40:01Travis Kalanick:Yeah.
40:04Like that AI can't even do fricking math. You know what I mean? It's like, we're not there yet. Now, could it get there? Yeah, but then you're really in AGI. If you look at how much harder it is, the physical world, how much harder it is, AI in the physical world, versus in the digital world, and I'm not demeaning it in any way, I'm just saying it's like, maybe let's call it a different problem set. Yeah, we're just far away from one shotting. There's just way less training data. Yeah, it's like one shotting on software, do you have one shotting on designing a machine or a robot? Whew, we're just not there yet.
40:37Travis Kalanick:Yeah, not there yet. But that makes it more fun. That's the point, is like, do the hard things. If you are in the Atoms world, you have decided, I like hard things, I like pain more than anybody else. This is kind of what you got to be about. Chewing a glass. I love it. So I can see how AVs at Adams fit into mining. What other, and just heavy industry broadly, what other kind of categories of AVs are exciting? How do you see the space evolving? Yeah, look, anything, I mean, the mission is wheelbase for robots. Yeah. So then you're just like, okay, what moves? And you go, okay, you have to find the businesses that make sense, of course.
41:21So we're like, okay, mining is a no-brainer. And how do you think about sizing for a wheelbase for robots that can scale up and down? I tell my team, dude, there's a ton of silver metals here. And there's actually a few other gold metals just in the category. um so let's just go with delivery robots like food delivery which of course is near and dear to my heart um you make your 20 yeah your 30 your 15 bowl became 30 bucks yeah okay and this is this is like i would put it up there as like one of the number one annoyances of the average American, regardless of where they are in society. Food inflation?
42:08Food is just the cost of food delivery. Everybody wants food fast, cheap, hot, et cetera. Yeah. And there's all this data that just came out this week that just shows it doesn't matter even how much money you're making, you're spending a lot on this category. Isn't it interesting? Remember I talked about the plumbers? Yeah. But you could take whole categories, become the long pole in the tent. Food. Boring. To a lot of people, boring is that. For me, fucking interesting. Let's go. Let's go. Let's go. Look, I did taxis. I did taxis when they're like, people are looking at me funny.
42:48Travis Kalanick:It was a weird idea. Okay, they are looking at me super funny. So Jason Kalkanis, the most famous investor in Uber of all time. More famous than you and so on. Whenever I meet with him, I'm like, dude, I'm so honored to be meeting one of our early investors. But there was like an angel group that I pitched to. There were like 30, 40 people in the room. I think it was like three or four that invested. It's crazy. Okay. The 10 grand check became like 100 million bucks. It was crazy. Wow. But the boring places are the places. Yeah. You know? Less competitive. But also just weird and hard. Yeah. There's a reason why it's that way.
43:28The graveyard is stacked of tech guys that thought they could crack food, which is why, which is, again, like.
43:37Travis Kalanick:Yeah, go back to where they are. You can go compete in this category, but you have to actually be insane and you have to have. Yeah. And you have to attack at all these levels. So my head of the robotics division, we're like, yeah, let's do this. Get the band back together. Let's go. Right. this is Eric my offer yeah and and he's like okay we can make a food row that I'm like I got one there's one requirement though I got one what hanging chatter one string attached he's like what I'm like you're gonna have to build a restaurant that the robot serves so my roboticist team in Pittsburgh made a restaurant that is the restaurant that our first robot went into because we had to make sure that we understood how a restaurant worked.
44:29We had to make sure that this wasn't just a machine that made food, but a machine that makes food in the ecosystem of machines called a restaurant. And people don't understand, but a restaurant is a manufacturing facility. In fact, if you look at the labor statistics, et cetera, restaurants fits under manufacturing for obvious reasons. It just hasn't changed in 50 years. Anyways, back to... Sorry, I'm all over the place. No, I love it. I love it. Firing on all cylinders. But so again, do you want to move people with AVs? Do you care more about commercial? Look, the industrial thing is sort of like probably our main jam, But the bottom line is once you crack movement in the physical world, there's lots of people who want access to that.
45:22And in fact, you need partners because you're going to be putting billions of dollars to work to make it happen. So there's going to be lots of partners across different categories that are going to probably want some of that. And I have no issues with that. We're not like a, you know, this is ours and this thing. it's more like, hey, there may be ways to work with others. We're happy to do it. We've got to pick our spots, but you get the idea. What about manufacturing broadly? You're doing it in food. Are there other categories that are interesting? Are you happy to be kind of the transport rails?
45:57Look, I think once you are in physical AI, you should basically understand that manufacturing is part of your tech stack. It just is. And by the way, energy is part of your tech stack. Land development, real estate is part of your tech stack. That's just what it's going to be. People don't think about it like that, but it's true. Of course, Tesla just crushes. If you look at this list of things, you're just like, they got it all. So good. But there's just so much to do.
46:32Travis Kalanick:Yeah. You know what I mean? We can see all the things Tesla's doing. That's cool. I'm like, I can still help you mine. I can still get some food to some peeps. You know what I mean? So you get the idea. Is that really when you're pitching investors around Adams in this new vision, is it basically like there's a lot of jobs to do in the world? We're going to do it with physical AI, and you're basically betting on applying my general ethos to all these categories over time? No, you've got to be able to pick your spots. If you are too broad, people are like, dude, what's wrong with you? Now, you know, I think every entrepreneur always gets that.
47:16Like, you know, I joke around like in the 90s, like, dude, I'm an old guy. What are you going to do? In the 90s, it's like, dude, Microsoft's going to kill you. Like, why do you think? Then in the 2000s, it was like, why isn't Google going to do this? In the 2010s, it's like, dude, that looks like Uber's thing. and now it's like, if you're talking about physical AI, it's like, that's Tesla. They are the incumbent, they are, and not just the incumbent, they're also just doing great, awesome stuff. But find your spot. Know yourself, know what you're good at, be self-aware and find the thing that is your business soulmate, for sure.
47:52But also know that you're in an ecosystem and you need to find your spot.
47:59Travis Kalanick:What was your experience like in dot-com and the financial crisis broadly in 2008? Okay, so basically I sold my peer-to-peer CDN, Akamai Meets BitTorrent, in 2007 to Akamai. Okay. So I was earning out when that happened, and I just started, I think I didn't last very long in that earn out. Sure. So I was the CXO. I was like an advisor and a CXO. Okay. Little known fact, I was blogging. I was like a tech influencer blogger. There's a blog still out there called Swooshing. Crazy, amazing, ridiculous content. I was in the click economy, guys. I was in it. So I was an advisor in CXO for like five different companies at a time.
48:55And so I'd help them on their deals or I would be their CTO or I would, um, you know, help them sell or product or whatever, but I could always just put the phone down and forget.
49:07Travis Kalanick:So somewhat insulated from like the mortgage crash. Like, yeah, I mean, my thing was, I was trying to figure out, I was getting a bunch of my friends together and saying, okay, do you have a mortgage with bank of America? I do too. Let's pool our thing. I'm going to go to bank of America and say, I will buy these mortgages off for 40 cents on the dollar. Yeah. And because you're selling them on the market for 10 cents. Interesting. Could be fun. And then they're like. Get out of here. This is the crazy thing. You're not a hedge fund. That's wild. What about dot com? You're talking about the 90s?
49:41Travis Kalanick:Yeah, the 90s, like late 90s. Like, I mean, you're at that point, you're like sort of starting your career, right? Yeah. But it's an interesting place to start a career in tech. Like a lot of people watched that and said, that's insane. So look, we did peer-to-peer file sharing at a company called Scour. Yeah. Okay, so some people did Napster. Some went to, like, you know, all the ones that came after BitTorrent, all the way to, like, what was the one that Zenstrom did? Kazaa or some of these others, right? We were the OG file sharing. Yeah. Okay. Michael Ovitz was on the board. Ron Burkle was on the board.
50:19LA. Yeah. Okay, doing tech in LA. was like being a finance guy in Fresno. They're like, don't know what the hell is going on. They're like, who are you?
50:31And you're a little bit sheltered from it in LA. Every time you went to the Silicon Valley, it was like wild and crazy. And like every bar was like packed, like after hours, like happy hour thing, like things were bubbling. And the crazy part is not just what happened during the run-up, it was post. I was raising money on this peer-to-peer CDN that I didn't have, I didn't pay myself a salary for for four years. I was raising money in late 2001 for a networking software company. Are you freaking kidding me? And so I remember going to one of these, going to a bar to meet up with a VC. And this is like 2002.
51:14And it's empty. Like this thing that would be mega packed just two years earlier i mean we're talking dust bowl tumbleweeds empty and this vc i wish i remember who it was because it'd be amazing uh was like yeah travis dude i think i think it's all done it's over he told you it's over i'm like what do you mean he's like all the software that could be invented has been invented wow we're done and he meant it he's like it's been real dude let's have a whiskey Let's go. We're done. That's incredible. How have you processed the last two years when people are able to raise an amount of money that took you four different rooms in this entire process and they can just raise it literally without a deck often.
52:06They can just pull it together. It's all good. Like I don't, I just have, because, you know, when you build a company the way I built it, which is like my current one, where you're literally under the radar, it means that you are powered by, you have an internal fulfillment. You're not like caring what others think. You, you get internally fulfilled with building. And I don't look at somebody and go, oh dude, dude, I had it so much harder uphill both ways to school, whatever. I don't think like that. It's more about the excellence of the process. So I'm like, well, how do you raise money? And they're like, oh yeah, I just throw a deck to the guy.
52:49I'm like, okay, well, then that's not a thing. What is a thing is going all the way until it hurts. If you're doing something and it's easy, it's not valuable. And I'll explain like, let's just think of like a, like a marathoner, world-class marathoner on mile 21. Is that dude smiling? No, he's not smiling. By the way, if he is smiling, you know, what's about to happen. He's about to get his ass whooped.
53:18Travis Kalanick:Okay. Because why? Because somebody else who's down for the pain will go harder and further and pass him. And so if you're getting money easy, I'm like, why didn't you go harder? You could have done it better and more. Now you don't do things hard just cause maybe he's like, it just doesn't matter too. Like I gotta go do something else that's hard. But the key is like, if money matters, which I think we would say it does, especially in certain categories, you need to be the best in the world at it. And it's not enough to say it was easy. If anybody comes to me and says a strategic thing was easy, I'm like, you messed up.
53:55You could have been way better and gone way further. More competitive advantage, more differentiation. Get it together. Give me the update. I feel like Tony Robbins right now. I love it. I love it. No, I think people need to hear this. They do.
54:09Travis Kalanick:They do. And yeah, the challenge is like when if raising money is super easy and then you actually start building and you're like, whoa, actually money makes this possible, but it doesn't make the work easy. Yeah. And it is funny that some of the greatest fundraisers, the critique is always like, oh, well, they are raising too much money. You look at Elon, Sam, all these crazy deals, and people are like, well, like, okay, it's nice that you're good, but like, are you too good? And it's like, here's the thing. You know, back in the day, 2010s reference, like, there was a problem with getting masa money.
54:43Yeah, there was a problem with that. Yeah, because it was easy money.
54:48Travis Kalanick:Sure. And And it was too loose. And so people would get loose with the culture of the investor that they were getting the money from. And so you had to be careful. So if somebody got Masa money, I'd be like, dude, you got to grind. It was maybe a little too easy. And still to this day. So there's nothing wrong with money as a sort of a competitive advantage or a strategic weapon. It's okay. Like, that's part of business. It's necessary. But treat it with respect. Last question about Texas. For the Californians that are thinking about making a trip out there, Austin, Dallas, Houston, what do you recommend?
55:35Travis Kalanick:Well, look, I'm Austin. Now, I own a place in Austin. I've owned it for five years. I'm an avid, I would say almost professional water skier. Nice. Slalom skiing. No way. I'll send a video. Send a video. That's amazing. It's sick. Don't even get me started. So I've owned a place there for five years right on the lake, Lake Austin, 20 minutes from the city. There you go. Lake life. Hell yeah. Go for it. Okay. I get a little bit FOMO on like these people going to Florida. I'm like, dude, why so much Florida action? Like, come on, homies. I know. It's been a bloodbath for every single guy's going to Florida.
56:20But, like, yeah, like every weekend this year I've had this year is in Texas. Yep. You ever take calls while you're water skiing, like AirPods? Dude, I should. It'd be good. I love it. Don't get me excited. Well, I went to Saronic, which does the boats, the autonomous boats. Yeah, yeah. And I'm like. Build me a water skiing.
56:38Travis Kalanick:water skiing boat. Ooh, okay. I just want a water ski. That's great. And like, I just want a water skiing behind a Sironic boat is so funny. I'm like, dude, autonomous water skiing. Yeah, dude, I love it. Pretty viral. Uh, who should, who should come? You're, you're poking your head up. Who should come work for you? Yeah. 60 seconds. Who do you want? Not, not any individual, like one individual person, but like that. I have a message for this one guy who didn't take my offer. Um, look, I think the thing is is like we're just getting the best this is so cliche and like whatever banal but um look we are in the physical ai space so you it's a mix of uh sort of let's call it sensors compute the software that sits on top of those things um uh i mean it's just it's just gonna be great engineers and then you go through what i would call the physical ai stack and you would you know but um it's a long project it's someone for who wants a career it's like infrastructure software guys because you've got to have epic ai on the back end and the way to use that it sort of has to be epic you have to have physical ai model people who are sort of translating foundational models into the physical world and and and there's some core research and some just like i know all all the white papers and we're just gonna, we're building and going end to end or some hybrid version of that.
58:11You have just normal software cuz you've got applications that sit on top that then, of course, customers see in some fashion or another. Actuation and manipulation on the mechanical and sort of robotic side of things. And mechanical engineers that build machines. Wow. And then of course, remember, I've got construction, real estate, like I could go on.
58:34Travis Kalanick:It's lots of cool stuff. Go to the website. There's lots of stuff. Go to the website, folks. Go to the website. Adams.co. Adams.co. And by the way, Adams.co slash vision, I just threw down. Okay. I know. Read it. That's amazing. Check it out. It's amazing. You're taking the time to come out with us. Yeah, yeah. This was awesome.
From the publisher
This is our full interview with Travis Kalanick, recorded live on TBPN.
We discuss why he kept City Storage Systems in stealth for nearly eight years before reemerging as Atoms, unpack how his bet on real estate, robotics, autonomous delivery, and industrial infrastructure is designed to bring the economics of prepared food closer to grocery-store prices, and debate what the next era of physical AI could look like from mining and transport to specialized robotics, capital wars, and a future where human labor becomes the critical bottleneck in an increasingly automated world.
TBPN is a live tech talk show hosted by John Coogan and Jordi Hays, streaming weekdays from 11–2 PT on X and YouTube, with full episodes posted to podcast platforms immediately after.
Described by The New York Times as “Silicon Valley’s newest obsession,” TBPN has recently featured Mark Zuckerberg, Sam Altman, Mark Cuban, and Satya Nadella.
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