After reading it, three things seem clear:
1. Every startup should read the Holder report.
Eric Holder and his team are among the smartest people out there. Every startup should read the report carefully and take it to heart.
Upending the status quo doesn't mean you can't have a fair, inclusive, and open culture.
But it's also not easy: it takes focus, controls, and attention to detail. And at a time when you're scaling, fundraising and expanding like crazy, when many of your employees tend to be young and inexperienced, and when you're moving at the speed of light, it's hard to remain focused on culture.
But it's more than important: it's essential to your future.
The Holder report is a clear sign that all startups can still change norms, still disrupt the status quo, still innovative radically but also still give people a good place to work.
The two are not mutually exclusive.
2. Demonstrating implementation is as important as the implementation itself.
All 47 recommendations make sense, which is why the board voted unanimously to adopt them. But then taking them into a silo and trying to make each one happen isn't enough.
One of my first jobs for Mike Bloomberg was to take every promise Mike made in his first Mayoral campaign, make sure everyone in the administration knew what he promised to do, and then track and publicly report on the status of each and every one of them.
That first year, some were accomplished. Some weren't (he did it all 12 years of his Mayoralty). He even changed his mind on a few. But what mattered far more than the status of any individual item was the notion of a politician publicly and proactively providing that kind of transparency and that kind of accountability.
That was unheard of and it helped demonstrate who Mike was and why he was special.
Uber should do the same thing. Every quarter, the company should publicly report on the status of all 47 recommendations. It's okay if they're not all accomplished immediately. No one expects that. But, to me, the underlying theme of the report is that the company lacked sufficient transparency, controls and accountability.
Taking the time and making the effort to show where each item stands, quarter after quarter, would go a very long way towards regaining trust.
3. Running Uber is different from running almost any other company.
There's the job of running a $70 billion company on a day to day basis: operations, human resources, communications, etc. The platform itself is booming, look at the Q1 growth numbers. The operations of the company itself - connecting drivers and riders - are handled by incredibly talented people. Uber didn't become Uber by accident. And it'd be a surprise not to see a new COO named sooner than later.
But there's also the job of bringing about the future.
One of the first times Travis and I ever met, he outlined a vision of a world one day where no one would own a car. All cars would drive themselves. They'd be operational constantly. And you could get one with the touch of a button. Lots of people can have big ideas. But very few people can turn them into reality.
Travis has done more to bring about that vision of a radically different, radically better way to get around than anyone in the world. We need him to bring us the future a lot more than we need him to review the minutes of the last board meeting. It doesn't matter if he returns as CEO or something else - what matters is that he's allowed to do what he does best: innovation, growth and scale.
The world has benefited tremendously from his vision to date. It shouldn't stop.