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Where are all the self-driving trucks?
Why self-driving trucks haven't materialized yet.
Kieran Ryan
August 16, 2024
Good morning, Nerders. It’s Friday, August 16th. In today’s newsletter, we cover:
Why self-driving trucks haven't materialized yet
How investments have performed after the Fed stops hiking rates
Subway calls ‘emergency’ meeting as sales plummet
TODAY’S STORY
Ambitious startups, including Embark Trucks and Starsky Robotics, raised billions of dollars to develop self-driving trucks, but many have cut back on or ended their efforts to get the product to market.
The self-driving truck market has been slow to develop due to:
Autonomous 18-wheelers scare the public—polling revealed 80% of likely California voters would be uncomfortable with heavy driverless trucks on the road
No job displacement plan—one trucking union representative said, “Not a single one of those companies has put forward a proposal to demonstrate how exactly they’re going to create new jobs”
Self-driving technology was built for cars, not trucks—Trucking needs to translate technology, sensors, and more built for passenger cars to trucks, which have more variables and safety concerns
There are some autonomous truck companies left standing but with minimal traction. By the end of 2024, self-driving truck company Aurora Innovation plans to have 20 fully autonomous trucks working the 240-mile stretch between Dallas and Houston.
So, self-driving trucks are on the horizon, but their development has taken much longer than expected, leaving a wake of failed startups in its path.
DATA BYTES
As of March 1989-June 2024, cash has lagged behind other investments when the Fed stops hiking rates
The Fed is signaling rate cuts ahead of its next meeting in mid-September
Disclaimer: This is not investment advice. Past performance does not guarantee future results.
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Subway calls ‘emergency’ meeting as sales plummet
@boringbusinesskieran BREAKING: Subway calls ‘emergency’ meeting with franchisees as sales plummet // make sure to follow me to keep up with the latest business... See more
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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
