We will not shy away from the hard things. If we work together, and put the customer first, I'm confident we'll unlock the potential of this great company.
We were 90 days from bankruptcy. We cut 4,000 jobs. We renegotiated $3.5 billion in debt. And then we posted our first profitable quarter. Survival is not a strategy — but sometimes it's all you've got.
We went public via SPAC in 2021. People called SPACs a scam. Our stock dropped 80%. Then we posted five straight profitable quarters and the stock 10x'd. Execution beats narrative.
When the market crashed, we cut costs, shut down Shopee in France and India, and focused on profitability. Q4 2022 — first profitable quarter. Sometimes the best growth strategy is knowing when to stop growing.
Oatly existed for 20 years as a boring Swedish health brand before I arrived. All I did was make it interesting. Branding is strategy.
We cut thousands of jobs and exited markets. It was painful but necessary. Growth without discipline is suicide.
Everyone said Dell was a dying PC company. We went private restructured and came back at 72 billion. Never count us out.
I didn't come to Uber to maintain the status quo. I came to build a real business.
We almost died. The stock went to near zero. We didn't give up. Now our loss ratios are improving quarter after quarter.
I've done this three times now. Data Domain, ServiceNow, Snowflake. The playbook is the same: great technology, mediocre execution. Fix the execution.
Carvana at $4 was the most obvious opportunity I've seen in years. The business was improving. The market was pricing in bankruptcy.
2016 nearly killed us. We lost money, lost investors, lost people. But we rebuilt. The fund today is 10 times stronger than before.
Every carve-out is a turnaround in disguise. The parent company starved it. We feed it.
Every brand we've bought, people said it was dead. They said Sports Direct was dead once. They were wrong then too.
We buy companies that others think are broken. Usually the products are fine. It is the management that needs fixing.
Chrysler was supposed to be dead. We chose to believe it could live. And it did.
The critics said Force India was dead. They said Aston Martin was finished. I am comfortable being wrong in public. What I am not comfortable with is giving up on things I believe in.
Aston Martin is one of the most iconic brands in the world. I did not buy it to hold it. I bought it to make it great again.
Every company I've ever entered said their problems were unique. They never were.
Together we successfully delivered the Transform 2019 plan, and as a result we are in a strong position to continue supporting our clients and communities in all of our countries and remain a pan-European winner.