[Handsome Creepy Eel]

(04-11-2019 10:03 PM)Sumanguru Wrote:  

Also,

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Hadn't occurred to me that Uber/Lyft are basically fighting to hold on long enough until autonomous driving tech becomes proficient enough to cut out drivers. Considering the drivers get 80% of the fare and all the tip, Uber getting rid of the people behind the wheel would be very beneficial for them.

[url=https://techcrunch.com/2019/04/11/uber-spent-457-million-on-self-driving-and-flying-car-rd-last-year/]https://techcrunch.com/2019/04/11/uber-s...last-year/

Quote:

Uber spent $457 million last year on research and development of autonomous vehicles, flying cars (known as eVTOLs) and other “technology programs” and will continue to invest heavily in the futuristic tech even though it expects to rely on human drivers for years to come, according to the company’s IPO prospectus filed Thursday.

R&D costs at Uber ATG, the company’s autonomous vehicle unit, its eVTOL unit Uber Elevate and other related technology represented one-third of its total R&D spend. Uber’s total R&D costs in 2018 were more than $1.5 billion.

Uber filed its S-1 on Thursday, laying the groundwork for the transportation company to go public next month. This comes less than one month after competitor Lyft’s debut on the public market. Uber is listing under the New York Stock Exchange under the symbol “UBER,” but has yet to disclose the anticipated initial public offering price.

Uber believes that autonomous vehicles will be an important part of its offerings over the long term, namely that AVs can increase safety, make rides more efficient and lower prices for customers.

article Wrote:

Uber almost doesn’t feel like a business, but rather some essential service that investors believe should exist, so they’ve continued to inject money into it. Something so useful would have to make money at some point, right?

This is simply outrageous. It's not even about the automation, it's about the business model - do we truly have an economy where the only way to be profitable is to suck on venture capitalist money until you become a global monopoly and can extort everyone? What's wrong with the entire system?

The worst offender in this area is Amazon: after 20 years in business, the company still doesn't have almost any profits.



What's going on here?