Travis Kalanick, Ben Horowitz, and Erik Torenberg reunite to reflect on Uber's early days, the investment that almost happened, and why Kalanick believes the next great technology opportunity lies beyond software. They discuss the lessons of building Uber, the value of founder-led companies, and why Kalanick spent nearly eight years quietly building Atoms before stepping back into the spotlight. The conversation explores industrial AI, robotics, autonomy, mining, food production, and Kalanick's vision for digitizing the physical world, where software, manufacturing, real estate, and transportation come together to transform entire industries. Timestamps: 00:00 - Intro 01:09 - The Deal That Got Away: Uber's Series B in 2011 13:22 - Why Uber's 2017 Wouldn't Have Happened with Ben or Marc on the Board 17:38 - When the Pirate Becomes the Navy 21:14 - The Fall from Uber & Finding CloudKitchens 32:00 - 8 Years in Stealth: Building Without the New York Times 34:47 - Digitizing the Physical World 39:47 - Bringing It All Together: Atoms Vision 49:13 - Great Companies Are Always About a Great Entrepreneur 01:04:57 - Creating Problems vs Solving Them 01:17:24 - The Second Industrial Revolution & Resistance to Change 01:28:07 - Building the Team Resources: Follow Travis Kalanick on X: https://x.com/travisk Follow Ben Horowitz on X: https://x.com/bhorowitz Stay Updated: If you enjoyed this episode, be sure to like, subscribe, and share with your friends! Find a16z on X: https://twitter.com/a16z Find a16z on LinkedIn: https://www.linkedin.com/company/a16z Listen to the a16z Show on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYX Listen to the a16z Show on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711 Follow our host: https://x.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see http://a16z.com/disclosures.