Self-driving vehicles have been gaining traction in recent years, with investors pouring billions of dollars into the technology. Despite this investment, startups are finding that progress is lacking and they are turning to simulations and remote operators as losses mount. After 100bchafkinbloomberg
Investors Pump Billions into Self-Driving Vehicles After 100bchafkinbloomberg
After 100bchafkinbloomberg: In recent years, self-driving technology has emerged as a major area of investment for businesses and venture capitalists alike. In 2021 alone, over $100 billion was estimated to have been pumped into the technology by various investors.
This influx of capital has helped push the development of self-driving cars forward at a rapid pace, with many expecting them to soon become commonplace on roads around the world.
Startups Struggle to Make Substantial Progress
After 100bchafkinbloomberg: Unfortunately for those invested in self-driving vehicles, progress has been much slower than expected. Jennifer King, the owner of the first car equipped with autonomous features in her neighborhood, described it as sounding “like a hovercraft” when she was woken up at 2 am by its loud engine noise.
As well as technical issues preventing cars from performing optimally on roads, there remain various legal hurdles that must be cleared before autonomous driving can be made available to the public.
Simulations and Remote Operators Step In
After 100bchafkinbloomberg: To make up for this lack of progress on the road, start-ups have resorted to relying increasingly on simulations and remote operators for training purposes.
However, even these methods are proving costly as companies struggle to keep their heads above water amidst mounting losses. The financial strain being placed on these startups is only increasing as they attempt to bridge the gap between current capabilities and their vision for fully autonomous vehicles in the near future.
Conclusion
After 100bchafkinbloomberg: Despite an initial flurry of investment into self-driving vehicles, startup companies are now facing ever-increasing losses due to a lack of progress in terms of both technical capabilities and legal clearance for public use.
With simulations and remote operators now stepping in to fill this void until significant advances can be made on roads around the world, only time will tell if these investments were worth it or not in hindsight.
After 100bchafkinbloomberg investors bet an estimated ~$100B on self-driving vehicles, startups see little progress, falling back on simulations and remote operators as losses mount (Max Chafkin / Bloomberg) after 100bchafkinbloomberg
