Invest Like the Best with Patrick O'Shaughnessy
00:11:20 · Patrick O'Shaughnessy, Dara Khosrowshahi
[00:11:20] S0: What have been the chapters of the chip? How has the chip on the shoulder evolved? Like, what satisfied it early on, and how has what satisfied it changed, or is the chip still [00:11:28] S2: It's never satisfying. I don't know what it is. I always wanted to do well in school, sports. For me, I just believe in being all in in anything that you do. When I'm with my kids, I'm with my family, I don't have this thing around. I'm not checking messages. I'm not getting distracted. I believe in if you're going to do something, whether that's work, whether that's sports, whether that's personal life, just go all in, get rid of the distractions. And I think you'll lead a happier, more effective life. [00:12:00] S0: You think that CHIP is roughly the same today as it was when you're in high school? [00:12:05] S2: It's core. I don't know whether I would have been the same person, you know, the counterfactual if I were in Iran. But I know my family is awfully competitive. A lot of Iranian immigrants have come here to The US and many parts of the world have been extraordinarily successful. And, of course, starting from behind and knowing that you're starting from behind and having the desire to get ahead again, it absolutely plays a part in your life.
00:12:05 · Dara Khosrowshahi, Patrick O'Shaughnessy
[00:12:05] S2: It's core. I don't know whether I would have been the same person, you know, the counterfactual if I were in Iran. But I know my family is awfully competitive. A lot of Iranian immigrants have come here to The US and many parts of the world have been extraordinarily successful. And, of course, starting from behind and knowing that you're starting from behind and having the desire to get ahead again, it absolutely plays a part in your life. [00:12:34] S0: And the selfish question because I have kids, you know, they're growing up fast. How do you think about your kids? My guess is you wouldn't press the red button to undo the experience you had because it made you who you are. Totally. And so I think about this a lot as it relates to kids that maybe are not gonna have an experience like that, that might shape them in a similar way. How do you think about that as a dad?
00:12:54 · Dara Khosrowshahi, Patrick O'Shaughnessy
[00:12:54] S2: I'm figuring it out as we go. I think being a parent is so humbling, but I think we're doing our kids a disservice by giving them too much, being around too much. I don't know about you as a kid, but on the weekends, my mom would be like, get out of here and come back for dinner. Figure it out. And I think this helicopter parenting, being around your kids all the time, you want to love your kids. You want to know that they're absolutely loved and appreciated, but it's the challenges in life that form you. And it's the overcoming of these challenges that give, I think, humans a profound satisfaction. And if you as a parent are overcoming these challenges for your kids, you're actually doing them a disservice long term, whereas short term, you think that you're doing them a favor. You're giving them an easier life. A happy life is not necessarily an easy life. And so for me, it is a challenge because I love my kids. Sid and I co parent in a way, which is we're not going to do everything for the kids. They come home. They're responsible for their homework where they've got to learn how to make it in this world themselves within the scope of family, which will prepare them for the outside world, which as you know, can throw you a lot of curveballs. [00:14:04] S0: Yeah. Speaking of curveballs and challenges, if we zoom all the way to today, it's gotta be curious if you think so. It seems to me from the outside, like the most interesting time to be running this business. Oh [00:14:13] S2: my God. Yeah.
00:14:13 · Dara Khosrowshahi, Patrick O'Shaughnessy
[00:14:13] S2: my God. Yeah. [00:14:14] S0: Because their opportunity is so massive, the threats are real, the new entrants are fascinating, AVs we'll talk a lot about, I'm sure. What does it feel like, ground us today, what feels like the central question to answer as the leader of the business?
00:14:28 · Dara Khosrowshahi
[00:14:28] S2: I tell you that every single year that I've been in Uber has been a challenge and there have been so many answers to question and we interact with the world in so many ways. Obviously, challenge of opportunity now is the rise of AI, both as an internal tool as to how we build. And what's different about Uber than many other companies is we don't just exist in the digital sphere. Our experiences encompass digital first in terms of your interaction with our platform, But then they are delivered or fulfilled in the real world where all kinds of things happen. So you've got determinative structure in terms of the interaction with the app, but then probabilistic outcomes. And we always have to deal with those outcomes and the things that go wrong in the real world traffic, driver canceling, your food being late. But we have always used, in that probabilistic world, AI tools to build out our system for much longer than most companies out there. But now with the onset of AI, both in the digital world, the ability to build much larger models that know much more value, can anticipate what you want more accurately, can really drive utilization and can drive people work and make an engineer into super engineer to then the rise of physical AI, autonomous vehicles, drones, and how they are going to change how we interact with consumers in the real world. I've never ever seen a pace of change so fast, and it's incredibly exciting.
00:15:54 · Patrick O'Shaughnessy
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