Travis Kalanick Reignites VC Criticism: 'Only 1% Are Truly Helpful'

Travis Kalanick has always had a complicated relationship with venture capitalists. As the founder of Uber, he was once a VC darling, raising an unprecedented ~$15 billion in venture funding during his tenure. However, a boardroom battle with Benchmark's Bill Gurley led to his ousting in 2017. Now, in 2026, Kalanick is back in the spotlight, raising significant funds for his robotics company, Atoms, which recently secured $1.7 billion led by Andreessen Horowitz, with Ben Horowitz joining the board. In a recent episode of David Senra's podcast, Kalanick expressed lingering resentment over the Uber saga, going so far as to advise founders not to raise capital from Benchmark. Despite his criticism, Benchmark continues to thrive, having raised another $2 billion across two new funds in June 2026. Kalanick's skepticism toward VCs extends beyond personal experience. He warns that a 'super high bar' for a VC is to 'do no harm,' yet estimates that only 10% of VCs meet this standard. Even fewer—just 1%—are genuinely 'helpful,' he told Senra. He elaborated, 'It's hard for them to participate because they just aren't in that deep.' He likened a founder to a 'chess master' and a VC to a 'chess enthusiast' who occasionally checks in on the game. The founder-investor dynamic is inherently fraught, Kalanick suggests. VCs, being 'glamorized' and holding 'a seat at the table,' expect their advice to be heeded. When founders ignore their input, it's difficult for investors to accept. 'They have certain powers and they can make a mark,' he said. Despite his critiques, Kalanick isn't advising founders to shun VC funding. Instead, he recommends crafting a pitch so compelling that it sparks a bidding war among firms. In today's hyper-competitive fundraising environment, he suggests sharing a moderately detailed plan—too little detail fails to attract interest, while overly detailed projections seem naive, especially in the fast-evolving AI landscape where predicting the future is futile. Kalanick also reflects on his own boardroom battle, emphasizing accountability over blame. Rather than warning founders to be more cautious about their cap tables, he cautions against succumbing to a 'victim mentality.' 'You have to be really careful not to get into victim mentality,' he advises. 'What was my part in that dynamic?' He admits he mishandled relationships with disgruntled stakeholders and that his management style contributed to the conflict. In sum, Kalanick's latest remarks underscore his enduring belief that while most VCs add little value, a rare few can be transformative—but founders must remain vigilant and self-aware in navigating these partnerships.

via TechCrunch