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In 2016, GM acquired Cruise for $1 billion or so. It seems like the whole thing was cancelled in 2023, written off, and the CEO was let go It was shut down bec
by AlotOfReading 1y ago
In 2016, GM acquired Cruise for $1 billion or so. It seems like the whole thing was cancelled in 2023, written off, and the CEO was let go
It was shut down because they had a collision that made front page news across the country which was followed by a cover-up. Their production lines were shut down, all revenue operations ceased, and the permits they needed to operate were withdrawn. It's not like the decision was random.
How much profit is Waymo making now? I'm pretty sure it's $0.
Profit is a fuzzy concept for even the most transparent private companies, but Waymo's revenue is likely in the hundreds of millions. They've received around $12B in funding, not hundreds of billions.
- fragmede 1y agoWaymo's done 10M rides*. If we hand wave $10 per ride, that's $100M. Which is way more money than I have, but not all that much. It's still much bigger than $0 though! * https://www.cbtnews.com/waymo-hits-10m-driverless-rides-eyes-expansion-across-u-s/#:~:text=META750.0541.404%25-,Waymo%20hits%2010M%20driverless%20rides%2C%20eyes%20expansion%20across%20U.S.,after%20months%20of%20slower%20growth. https://www.cbtnews.com/waymo-hits-10m-driverless-rides-eyes...
- AlotOfReading 1y agoThat number was originally announced in May. They've completed an additional 3M rides since then if they've done no additional scaling. Their average fares are also closer to $15-20 than $10.