UBER - Uber Technologies Inc.

Host highlights $15M of insider buying — CEO bought $10M and the president/COO bought ~$5.3M — calling it an amazing vote of confidence.

Host notes a major insider buy ($5M) but remains concerned about Tesla's self-driving and robo-taxi competition. Not a clear buy/sell, but worth watching.

Uber is a momentum play; if it breaks out above $79, expect upside continuation. It closed up 2.43% on Friday and has strong momentum.

Uber's current model is unable to weather a world where Tesla manufactures self-driving cars at scale and operates its own robotaxi network. The cost per mile of autonomous vehicles will undercut human drivers, destroying Uber's network effects and profitability.

Brad sees Uber as the demand aggregator for autonomous vehicle fleets, likely to compound at mid-teens and stay cheap, despite Waymo pulling back on some partnerships.

Serena reveals she had an opportunity to invest in Uber early but missed it during tournament season. She recognized the company's potential and viewed it as a lesson about building a team, not a current recommendation.

Congressional buying including Pelosi; autonomous vehicle regulations advancing could remove driver costs and transform margins; strong marketplace with $58B Q2 gross bookings and record FCF; delivery segment growing faster than ride-share.

Strong cash generation ($5B last quarter), $14B revenue, drone delivery deal with Zipline targeting 1M deliveries/day by 2029, insider buying by politicians, and undervalued due to market panic.

Tepper added to Uber, now about 7% of the portfolio. Many other super-investors (Terry Smith, Bill Ackman, etc.) also added, though the host personally is not a fan of the business but acknowledges it as a quality company.

Mentioned to illustrate that lack of founder-led management is not necessarily a red flag; CEO Dara Khosrowshahi has done great work despite not being a founder.