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(*) Benchmark is/was an investor in companies labeled with the asterisk. In 1776, Adam Smith released his magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations, in which he outlined his fundamental economic theories

Nearly 15 years ago one of Benchmark’s founding partners, Kevin Harvey, saw the skills of a young Peter Fenton on a board they shared. In every way, from how Chetan discovered the Elastic opportunity by downloading the product and using it, to how he built a deep trusting relationship with the team, he demonstrated the qualities that define Benchmark and our aspirations to serve entrepreneurs. ” As the Benchmark partners got to know Chetan better, it became clear that his infectious curiosity, analytical rigor, and boundless energy to serve entrepreneurs fit perfectly with our culture. While many venture firms have adopted a stage-agnostic approach, or have hired junior or role-defined staff to help source and support their investments, Benchmark continues to focus on and take pride in the craft of early-stage venture investing.

Here are a few key highlights: 85% say they partner with Uber “to have more flexibility in my schedule and balance my work with my life and family” 55% of drivers work less than 15 hours a week, highlighting that a majority of drivers use the service for supplemental income Driver-partners do not turn to Uber out of desperation, only eight percent were unemployed just before they started working with the Uber Two-thirds of these individuals reported that they had a full-time job Reasons for partnering with Uber: “to earn more income to better support myself or my family” (91%) “to help maintain a steady income because other sources of income are unstable/unpredictable” (74%) When asked directly, “If both were available to you, at this point in your life, would you rather have a steady 9 to 5 job with some benefits and a set salary or a job where you choose your own schedule and be your own boss? Friday and Saturday nights are simultaneously the consistent weekly peaks of (a) demand on the Uber system, and (b) spare time that is available for people with standard full-time jobs that want to pick up some incremental income (the chart to the right highlights this). In the above survey 32 percent of driver-partners indicated a major reason they partner with Uber is “to earn money while looking for a steady, full-time job.

While other industries often speak of being “customer centric” or “putting the customer first,” the U. S. healthcare system rarely thinks of the patient as a customer. I believe if the government took on the goal of better supporting consumers-by bringing greater transparency and competition to the health-care industry, and by directly subsidizing those who can’t afford care-we’d find that consumers could buy much more of their care directly than we might initially think, and that over time we’d see better care and better service, at lower cost, as a result. Over time, as more providers embrace customer feedback, and as more consumers are willing to share their opinion, we will begin to see more and more customer feedback on healthcare providers. The company provides its integrated suite of services to leading health services organizations such as Cigna, Aetna and Delta that include enhanced provider search and directory, verified patient reviews, price and quality transparency, online appointment scheduling and patient communications transforming a traditional health benefit into a digital health plan.