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They killed the 1700 person company they part owned/controlled with VW and then hired 550 engineers directly. If Argo.ai wasn't going in the direction they nee
by helsinkiandrew 4y ago
They killed the 1700 person company they part owned/controlled with VW and then hired 550 engineers directly.
If Argo.ai wasn't going in the direction they need for Fords products they could either get full control or kill it and hire the engineers. The latter might be more risky but is probably cheaper than buying, reorganising and making people redundant.
The 2.7B was already spent - they've just moved it from 'investment' to 'losses' in their accounting
- onlyrealcuzzo 4y agoAnd you can also take a loss on it to avoid paying taxes on $2.7B of profits. And you can also hire those engineers back probably with a discount given the current environment.