OK, so there hasn't been an IPO yet, but they are trying autonomous cars already: http://www.bloomberg.com/news/featu...eet-arrives-in-pittsburgh-this-month-is06r7on I think replacing humans with owned by the company cars is a mistake, the drivers had to maintain their cars, now it is going to be the companies problem. Also they haven't made any money yet.... https://www.zacks.com/stock/news/226158/will-uber-be-the-hottest-ipo-of-2016 "...investors are eagerly awaiting an Uber IPO. Many believed that the company would go public at some point this year, but Uber CEO Travis Kalanick hopes “to make sure [an IPO] happens as late as possible,” said in an interview with CNBC earlier this year. An IPO for Uber would be massive, as the company is currently valued at an amazing $68 billion after a total of nine rounds of funding worth $12.9 billion since its launch."
My only question is: When are they going to be profitable ? Ever ? Without profits, this company cannot be sustainable going forward.
Maybe they should merge with Tesla. They could lose twice as much money twice as fast. Its called synergy.
You think it is a joke, but: Uber CEO To Tesla: Sell Me Half A Million Autonomous Electric Cars In 2020 http://www.greencarreports.com/news...lf-a-million-autonomous-electric-cars-in-2020 Going back to the original topic of testing the cars: "On a recent weekday test drive, the safety drivers were still an essential part of the experience, as Uber’s autonomous car briefly turned un-autonomous, while crossing the Allegheny River. A chime sounded, a signal to the driver to take the wheel. A second ding a few seconds later indicated that the car was back under computer control. “Bridges are really hard,” Krikorian says. “And there are like 500 bridges in Pittsburgh.”
"I think replacing humans with owned by the company cars is a mistake, the drivers had to maintain their cars, now it is going to be the companies problem. Also they haven't made any money yet...." Totally disagree, maintaining costs are relatively low and with the development of the technology eventually they gonna go to very very small numbers, but the workforce it ain't going any cheaper.
They made 18K cars last quarter, ... thats 72K/year. Looks like Elon better do another round of fundraising to build more factories. I think Uber will do better with Ford.... jmho.
Driver-less cars... You know, these things will make medical malpractice lawsuits look like small claims court. A friggin lawyer smorgasbord. You know why small airplanes cost so much(?).... They don't have to. Even a small assembly line, forget the economies of scale, you can build Cessna 182's for far far less than a Toyota Camry. Aside from the avionics, they are very simple machines. Light airplanes cost so much because of liability insurance. I just don't see autonomous cars, aside from a few niche segments, becoming ubiquitous in our lifetime. Not because of the technology, but because of the lawyers and our litigious society. The technology is there, but the laws aren't. That'll take a decade at least.
I recently heard this on the Shark Tank, "I never invest in a service business". Not sure which one said it, but very eye opening. Uber, though worth billions, is starting to remind me of the 2000 bubble year. Unbelievable valuations with no real earnings. I'll stick with Apple and the likes.
If I were a long term investor with a 401K and in my 20's or 30's.... I'd buy Ford stock and do divy re-investment. Ford is dirt cheap right now if you have a 20 year horizon.
Well, since this is in my city, and it will be FREE for the time being, I might try it out, just to be able to say I was one of the first to get a self-driving ride... But yeah, I completely agree with Vanzandt, it is like drones, the technology is here but the laws aren't. Just wait until the first drone gets sucked into a plane engine or a self driving car kills someone else than the driver and we will see an Uber vs. the United States. And if bridges are hard, why pick Pittsburgh?* Why not a smaller town somewhere in Kansas where there are no tunnels and bridges and old European type of traffic? When it is tested there for good, than they can try the more congested cities... *because most of the engineers came from CMU's robotic department