Show Me the Money!
Corporate News Takes a Star Turn
Belying whispers of a slowdown in the autonomous vehicle industry – with doubters suggesting that AV’s potential had been oversold and the difficulty of execution underestimated –several news stories about AV companies caught our eye last week. Host Zach Adams, a litigator at Tucker Ellis, and Tucker Ellis corporate and transactional lawyer Tod Northman discuss the latest news to illustrate the trends they are seeing in the industry. In short, money continues to pour into the best companies as competitors vie for talent and technology leadership to realize the commercial potential of driverless transportation.
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Amazon Invests in Driverless Startup Aurora, Valued at More Than $2 Billion, Wall Street Journal (February 7, 2019) (Tim Higgins author)
Aurora cofounder and CEO Chris Urmson on the company’s new investor, Amazon, and much more
GM factory workers get $10,750 in profit sharing; company earnings slip, Detroit Free Press (February 6, 2019), (Jamie L. LaReau author)
GM’s incentive plan for Cruise chief points to IPO: SEC filing, Reuters (February 6, 2019), (Ben Klayman author)
Investing in the Future of Transportation, Aurora Raises over $530 million, February 7, 2019 (Aurora Team author)
Maturing Industry Landscape Reshapes Autonomous Vehicle Transactions, Helpful Mechanic (November 7, 2018) (Tod Northman author)
Nuro Raises $940M From SoftBank Vision Fund For Robot Delivery
One Reason Staffers Quit Google’s Car Project? The Company Paid Them So Much, Bloomberg (February 13, 2017) (Allistair Barr and Mark Bergen authors)
Self-driving truck startup Ike raises $52 million (February 5, 2019) Ike Raises (Kirsten Korosec author)
Bonus coverage on Ike: Kevin Zhang, of lead investor Bain Capital, on Twitter
Show Notes
1:15 GM and GM Cruise are investing smartly
3:30 GM Cruise’s compensation strategy
5:20 Parallels between GM Cruise and Argo.ai
5: 50 Digging into investments in GM Cruise
11:50 Form factor for EV and AV – Where are the trucks?
13:55 Tesla strings together profitable quarters
17:37 Tesla acquires Maxwell Technologies
21:18 Tesla shrinks its workforce but draws muted reaction
23:18 Aurora raises $530 billion in a Series B
24:30 Amazon jumps into autonomous vehicles
28:35 Ike – which is pursuing driverless commercial trucking – raises money to add talent