Robotaxis are everywhere. That could be bad news for Uber.

Good morning, Nerders. It’s Wednesday, September 4th. In today’s newsletter, we cover:

• Robotaxis — The expansion of autonomous vehicles (AVs) severely threatens Uber’s business model

• Startup Equity — Startup equity packages adjust to a new normal, and it’s not good for job seekers

• Brazil’s X Shutdown — X is now officially banned in Brazil

TODAY’S STORY

The robotaxi movement is finally here.

Waymo now provides 100,000 paid robotaxi rides weekly, up from 50,000 trips in May, and is safer than human drivers by many measures:

• Waymo Driver was 3.5x better in avoiding crashes that caused injuries

• Waymo Driver was 2x better in avoiding police-reported crashes

What to watch next: The expansion of autonomous vehicles (AVs) severely threatens Uber’s business model. Waymo (and AVs broadly) will soon be able to offer a more inexpensive and safer experience than human-based drivers. While AV companies have opted to partner with Uber to aggregate rider demand so far, they will eventually want to compete head-on for better unit economics in an oligopoly (e.g., Tesla, who is planning its own robotaxi service, is not expected to partner with Uber).

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DATA BYTES

• The average size of startup equity packages issued to new hires (measured on a fully diluted basis) declined 36.3% between Nov. 2022 and Apr. 2024

• Meanwhile, average salaries have moved only marginally during the same time period

• Part of the reason for the decline in startup equity packages is employees are valuing cash more right now than equity, given the broad trends around startups conducting down rounds and raising money at lower valuations

#SHORTS

X is now officially banned in Brazil

@boringbusinesskieran

BREAKING: X now officially banned in Brazil // Make sure to follow me to keep up with the latest business stories and trends #business #x ... See more

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PREVIOUS STORIES

• Erewhon: The place to be seen — Erewhon made an estimated $171.4 million in profit in 2023 and built a really strong business with the help of celebrities and influencers.

• Stuck in traffic — The total cost of traffic exceeds $100 billion for U.S. cities. Several startups like The Boring Company, Regent, and Navier are working to solve it.

• How Netflix Solved Its Password-Sharing Problem — Netflix added 22 million subscribers in 2023 from its password-sharing crackdown.

• Restaurants Start Drone Deliveries — Panera Bread and Sweetgreen partner with Zipline to start delivering meals via drone.

• The Next Generation of Cancer Drugs Might Be Made in Space — Space’s microgravity profile presents an opportunity to create perfectly crystalized injectable immunotherapy drugs that couldn’t be made on Earth.

To read the web version of previous stories, click here

If you have any comments or feedback, just respond to this email.

Thanks for reading,
Kieran & Justin Ryan