Travis Kalanick, the former Uber CEO, remains vocal about his mixed feelings toward venture capitalists (VCs). Having raised approximately $15 billion during his Uber tenure, his relationship soured following a contentious boardroom dispute with Benchmark’s Bill Gurley that led to his 2017 exit. Now, as Kalanick spearheads his robotics startup Atoms, which recently secured $1.7 billion from investors including Andreessen Horowitz, he continues to critique the venture capital world, advising founders to be wary of certain firms like Benchmark.

On David Senra’s podcast, Kalanick expressed skepticism about the majority of VCs, estimating only 10% meet the minimum standard of “do no harm,” and a mere 1% offer genuinely helpful support. He described founders as the “chess masters” of their companies, with investors acting as casual “chess enthusiasts” who engage on a more superficial level. Despite these challenges, Kalanick doesn’t discourage founders from seeking venture money but encourages them to sharpen their pitches to create competitive bidding, highlighting the importance of balanced planning amid fast-moving technological changes.

Reflecting on his own experience, Kalanick acknowledged that his aggressive management style, shaped by years of early struggle at Red Swoosh, wasn’t always suited for leading a multi-billion-dollar company like Uber. He admits that while his decisions were legally defensible, his approach often skirted the edge of acceptable behavior, which drew intense scrutiny and ultimately contributed to his ousting. Rather than blaming others, he counsels founders to avoid a victim mentality and consider their role in difficult dynamics.

Kalanick’s critique has resonated beyond his story, sparking other entrepreneurs like Mark Pincus to share their adversities with VC influence on leadership changes. Meanwhile, Andreessen Horowitz, which backs Kalanick’s current venture, has energetically promoted the podcast discussion. The ongoing tensions among top figures in Silicon Valley’s venture ecosystem highlight the complex and sometimes fraught relationship between founders and investors.