That $7 bn valuation came only a year after the disastrous 2018 crash which forced them to shut down the entire program for months, with months of of lurid new

That $7 bn valuation came only a year after the disastrous 2018 crash which forced them to shut down the entire program for months, with months of of lurid news stories highlighting failure after failure. Probably a low point, actually. The developing narrative seems to be that self-driving was a longshot that could have paid off hugely, had it worked out, but it's been plagued with problems and it just seems very unlikely to pay off now. But still not zero, since no one else has shipped anything. Investors probably valued it like (0.7% chance of success * 1 trillion upside = 7 billion).