How One Man Made $700 Million Driving for Uber – The Story of Ryan Graves

Don’t let the title fool you. Ryan Graves didn’t build his wealth through a side commotion of shared travel. It was more of a tweet.

Two – Two

Let’s go back to January 5, 2010. Uber was less than a year old at the time. And then CEO Travis Kalanick he tweeted: “I’m looking for 4 entrepreneurial products / biz-dev killer 4 a location based service … pre-launch, GREAT equity, great viewers involved: ANY ADVICE?”

In response to Kalanick’s tweet, Graves replied, “Here’s a tip. Email me :)”. Graves wisely also included his email address.

When he got the job, Graves was managing an information technology management training program at General Electric. But all that was about to change quickly. Thanks to this tweet, Ryan Graves became the first Uber employee on March 1, 2010.

“I was coming to Craigslist, Twitter and other channels looking for the right candidate,” Kalanick documented in a 2010 blog post about Uber’s founding. “What turned out to be the most impressive job and response I’ve ever seen.”

Obviously, Uber became, well, a very successful company. Of course, there have been ebbs and flows. As of April 2022, Uber’s market capitalization is $ 63.41 billion. As a result, Uber is the 242nd most valuable company in the world in terms of market capitalization.

Due to his involvement in the company, five years after joining the company, Graves became a billionaire. In 2016, Graves was listed as the 12th richest businessman under the age of 40. In 2021, its wealth was estimated at $ 2.1 billion, according to Forbes. Although he may no longer be a billionaire. Ryan Graves is still a billionaire because he came out with a tip and sent a tweet.

From working for free to $ 1.58 billion

Graves’ work history before Uber, including a position as a database administrator at General Electric and a brief stint at Foursquare in business development. Foursquare initially refused to hire him, but got the job thanks to the free work.

Graves, who was contacted by Kalanick after that iconic initial tweet, is considered the first Uber employee. In contrast to Kalanick’s aggressive personality, Graves was known as “Mr. Nice Guy” while at Uber, and his colleagues, both within the company and in wider technology communities, thought highly of him.

Early investor at Uber, Chris Sacca and longtime friend praised Graves in several tweets following the news of his resignation in 2017.

Graves, Sacca wrote, is “the most respected director by the rest and is excellent at building consensus.”

Graves, according to Kalanick, “went ahead,” as soon as he joined Uber. “From the day it started, we spent about 15-20 hours a week working together reviewing the product, the driver’s incorporation, the pricing model, the nine. He quickly learned the starting game and worked to build the Uber team and make the San Francisco launch and subsequent growth a huge success, “Kalanick wrote in the 2010 blog post.

At Uber, Graves was CEO for nearly a year and senior vice president of global operations for nearly seven years. Graves has been said to have been instrumental in defining Uber’s core values, such as its “superfluity” and its entry into international markets.

However, it was not always a smooth sailing.

Graves resigned from Uber in August 2017, two months after Kalanick was forced to resign when an investigation into Uber’s culture found evidence of sexual harassment and abuse. Graves also knew about greyballing, a method used by Uber to evade regulators around the world, according to The New York Times.

Post Uber Race

Although Graves resigned from Uber in 2017, he remained on the board. In addition, he was one of the executives who was said to have run the company while there was no CEO. And he also oversaw UberEverything, which includes UberEats and UberRUSH).

In 2019, Graves left Uber after Uber appointed Dara Khosrowshahi as its new CEO. But it is still grinding.

In 2017 he founded Saltwater Captial. He still serves as CEO and the private equity firm has invested in companies such as Calm and Equator Coffees & Teas.

In February 2021, it was announced that Graves would invest $ 50 million in the start-up of Metromile car insurance, both in person and through Saltwater. Graves will also serve on the board of directors along with Mark Cuban and other institutional investors.

In October 2021, Variety reported that actor Kelley Dauten would play Graves in the Showtime anthology series “Super Pumped.”

Frequently Asked Questions About Becoming a Millionaire

1. Is there an easy way to become a millionaire?

If you save your money as soon as possible, you can take advantage of the composition and become a millionaire. You will earn more interest if you start saving at an early age. This will also give you a chance to make more money with your interest.

Your goal should be to save at least 15% of your income. Getting financial advice from a professional and reducing unnecessary expenses will also help you reach your goal of $ 1 million. Getting a second job or improving your skills are two options you should consider if you can.

2. Do I need a high-powered graduate degree to become a millionaire?

“With condolences to those who have undergraduate debt, an advanced degree improves your chances of earning a lifetime higher, but it doesn’t necessarily improve your chances of joining the club of millionaires,” the editors of Kiplinger’s Personal Finance. According to The Millionaire Next Door, only 18% of those with a net worth of $ 1 million or more have a master’s degree, while 8% have a law degree and 6% studied medicine.

According to an analysis by Spectrem Group, a consultancy specializing in wealth research and management, 74% of millionaires have a degree. For billionaires, that figure is 70.1%, according to the 2015 Wealth-X census.

“Don’t fool us: many graduate degrees are worth the effort,” they add. “The average annual salary of a person with a professional degree is $ 98,436 a year, according to the U.S. Bureau of Labor Statistics, compared to $ 67,860 for a typical four-year college graduate. earns only $ 40,612 a year. “

3. How much should I invest to become a millionaire?

To become a millionaire, you have to invest different amounts depending on the stage of your life. Because you have more time to accumulate wealth and can tolerate more risk when you are younger, you can afford to store less money or make riskier investments.

On the other hand, as you get older, you’ll save more money each month if you delay saving.

4. Can I enrich myself with zero dollars?

The chances of getting rich doing nothing are slim. There are exceptions, however. These include whether you come from a wealthy family, have won the lottery, or are about to patent the next big invention. Or you could take advantage of an opportunity like Graves.

While Graves’ story may sound like a Silicon Valley fairy tale, it’s not entirely unique. Adam Lyons, 25, founder of car insurance company The Zebra, guessed Mark Cuban’s email address, sent him an email and got a deal from the billionaire star ABC’s “Shark Tank”. Similarly, Elon Musk suggested that a Reddit user “should be interviewed at Tesla” for an analysis he posted about his autonomous vehicle technology.

In general, to achieve your goal of becoming a millionaire, you need discipline, a plan, and good advice from a professional.

The publication How a Man Earned $ 700 Million Driving for Uber: The Story of Ryan Graves first appeared in Due.

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