World News
Tesla’s range-flation problem, Waymo reverses on self-driving trucks and Ford tweaks its EV playbook on July 30, 2023 at 11:29 pm
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1 year agoon
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The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the newsletter every weekend in your inbox. Subscribe for free.
Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.
Hey frens! I’m back from vacation and who-wee — a lot happened this week from automaker earnings and the Tesla range inflation drama to Waymo tapping the brakes on self-driving and Cruise expanding to yet another city.
One other note, you can find me on TechCrunch’s Equity podcast, a place where I will show up on a semi-regular basis, including this episode that came out Friday!
Onward!
Want to reach out with a tip, comment or complaint? Email Kirsten at kirsten.korosec@techcrunch.com.
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Micromobbin’
Is there anything else to talk about besides Lyft mulling the sale of its ebike division?
Lyft posted on its blog that it had received “strong inbound interest” in its bikes and scooters business.
The company stated:
As a leading bikeshare provider, supplying solutions to over 53 markets across 15 countries, it’s only logical for Lyft to listen to credible proposals and explore strategic partners and options in several forms to serve more riders in more cities. We expect this part of the business to continue to be a meaningful part of Lyft’s offering now and into the future.
The announcement runs contrary to what newly appointed CEO David Risher has told reporter Rebecca Bellan in past interviews. Risher, who is known as a big supporter of ebikes, did say the company planned to focus on its core ride-hailing business and become profitable, but it didn’t seem like the two-wheeled share service was on the chopping block.
The news prompted some here at TechCrunch to declare that shared micromobility was officially dead. I’m not so sure.
What do you think?
Deal of the week
Instead of a deal of the week, I’d like to call y’all’s attention to the list of deals below. See a pattern emerging?
Yup, me too. Software and EV charging sure seems like a thing, eh?
Other deals that got my attention this week …
Ampcontrol, an EV fleet management software startup, raised $10 million in Series A funding round led by the Westly Group. Other investors included AngelPad and Lorimer Ventures.
Aurora raised $820 million in a public and concurrent private offering (a deal we covered last week.) As I mentioned in the Equity podcast, tucked inside the SEC filing detailing the deal we learn that Uber invested $1 million in the private placement and $74 million in the public follow-on. When taking into account the Class B shares, Uber has a 22% stake in Aurora.
EV.energy, the UK-based EV charging software startup, raised $33 million in a Series B round led by National Grid Partners with participation from new investors Aviva Ventures, WEX Venture Capital and InMotion Ventures, as well as existing investors Energy Impact Partners, Future Energy Ventures and ArcTern Ventures.
Flipturn, a startup that developed a software management system for EV truck fleets, raised $4.5 million in a seed round led by Accel.
Field, the battery energy storage systems developer launched by former Bulb Energy co-founder Amit Gudka, raised £200 million from DIF Capital Partners.
Voltpost, a New York City–based startup that developed hardware that converts lampposts into EV charging spots, raised $3.6 million in a seed round led by RWE Energy Transition Investments with participation from Twynam Funds Management, Exelon Foundation, Good News Ventures and Climate Capital.
VW Group made a pair of deals with Chinese automakers aimed at shoring up sales in China, including taking a 5% stake valued at about $700 million XPeng as part of a deal to jointly develop and produce two mid-sized EVs for China. In a separate agreement, Audi expanded a partnership with SAIC. Reporter Rita Liao provides insight on what this deal could mean for future alliances between China and the West.
Notable reads and other tidbits
Autonomous vehicles
Cruise self-driving vehicles arrived in Nashville this week for testing; a robotaxi service is expected to follow. Cruise will also begin testing in multiple, new cities as part of its aggressive commercial ramp, according to the company. If the company’s careers page provides any hints, it seems Atlanta is one of them.
Want evidence that Cruise is accelerating? One year ago, Cruise only operated in San Francisco. Cruise has since expanded to Austin, Dallas, Houston, Phoenix and most recently Miami.
Rafaela Vasquez, the safety driver who was behind the wheel of an Uber ATG self-driving vehicle when it struck and killed a pedestrian in Tempe in 2018, pleaded guilty to endangerment. Vasquez was sentenced to three years of supervised probation.
Waymo is tapping the brakes on self-driving trucks and shifting most of its capital, resources and talent to one commercial bet: ride-hailing. I won’t call it a complete shutdown as limited testing will continue. But the program as it once stood is over. It seems most people on the team have kept their jobs at Waymo, per sources. (However, it’s still early; we’ll see how it all shakes out once the program is wound down.)
Earnings
Ford and GM both posted earnings this week and there were some general themes; namely that business is good if you’re selling gas and hybrid trucks and SUVs. The EV business? Well that’s a bit of a money loser. Both companies raised profit guidance for the year and GM said it would cut costs another $1 billion as it focuses on earning more money.
Ford, which now breaks out earnings for three business units, is tweaking its EV plans. The big line item is that Ford expects its EV business to lose $4.5 billion in 2023 — double what it previously forecast. And the company seems to be more bullish than ever on hybrids, which reminds me of Bill Ford’s comments way back in 2016 about viewing hybrids as a transitional, or bridge technology. At the time, the sentiment was about consumer adoption. These days Ford is learning that hybrid technology applied to trucks is particularly attractive to buyers.
Electric vehicles, batteries & charging
Ample, a San Francisco-based startup, is bringing its modular EV battery swapping technology to Mitsubishi Fuso’s electric trucks this winter.
GM isn’t going to kill off the Chevy Bolt EV after all. This is going to be a next-gen Bolt EV based on the new Ultium platform and battery design. I’m fascinated by this reversal because it happened so quickly (3 months!). Will it still be assembled at the Orion plant? Reminder: Orion was supposed to be retooled for electric truck production once the Bolt went out of production at the end of 2023.
Tesla exaggerated the range estimates for its EVs for years, prompting owners to flood its service center over concerns that their vehicles needed service, according to a new detailed Reuters report. As I note in my own story, one of the nagging problems with range estimates is their variability, which allows some automakers to push the boundaries of the system. While the EPA does review and approve those estimates, it allows automakers to use one of two methods to reach those figures: use a standard formula that converts fuel economy results, or conduct additional tests to come up with their own range estimate. Tesla has always done the latter, which gives far better numbers.
Miscellaneous
Lacuna Technologies, a startup that sold software services to cities to help create and enforce transportation policies, has shut down, per a LinkedIn post from product lead Samuel Jackson. (h/t to the source who pointed me to the post).
Disrupt!
Beep beep! TechCrunch Disrupt 2023, taking place in San Francisco on September 19–21, is where you’ll get the inside scoop on the future of mobility. Come and hear from today’s leading mobility entrepreneurs on what it takes to build and innovate for a more sustainable future. Save up to $600 when you buy your pass now through August 11, and save 15% on top of that with promo code STATION. Learn more.
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the newsletter every weekend in your inbox. Subscribe for free. Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point
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Humans Need Not Apply: The AI Candidate Promising to Disrupt Democracy
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Published
3 months agoon
June 15, 2024![](https://bolanlemedia.com/wp-content/uploads/2024/06/Screenshot-2024-06-15-at-6.46.14 PM.png)
The rise of AI Steve, the artificial intelligence candidate running for a seat in the UK Parliament, has sparked a heated debate about the role of AI in governance and the potential disruption it could bring to traditional democratic processes.
Steven Endacott, the human force behind AI Steve, envisions his AI co-pilot as a conduit for direct democracy, enabling constituents to engage with the AI, share concerns, and shape its policy platform through a voting system of “validators.” Endacott has pledged to vote in Parliament according to the AI’s constituent-driven platform, even if it conflicts with his personal views.
Proponents argue that AI Steve can revolutionize politics by bringing more voices into the process and ensuring that policies truly reflect the will of the people. They claim that an AI candidate can engage in up to 10,000 conversations simultaneously, allowing for unprecedented levels of public participation and input.
However, critics raise valid concerns about transparency, accountability, and the potential for AI systems to be manipulated or influenced by their creators, data limitations, or external actors. There are also questions about whether an AI can fully grasp the nuances and human elements involved in complex political issues.
Some argue that AI Steve is merely a clever marketing ploy to garner attention and votes, rather than a genuine effort to “humanize” politics. There are fears that the use of AI in elections could undermine faith in electoral outcomes and democratic processes if voters become aware of potential scams or manipulation.
Beyond the specific case of AI Steve, the rise of AI candidates and the increasing use of AI in political campaigns and elections raise broader questions about the integrity of democratic systems and the need for effective regulations and guidelines.
Anti-democratic actors and authoritarian regimes may seek to exploit AI technologies for censorship, surveillance, and suppressing dissent under the guise of enhancing governance. There are also concerns about the potential for an “AI arms race” between political parties to develop and deploy the most sophisticated AI technologies, further eroding public trust.
As AI tools become more advanced and accessible, upholding electoral integrity will require proactive efforts to establish guardrails, transparency measures, and accountability frameworks around their use in politics. Policymakers, advocates, and citizens must work together to ensure that AI is leveraged as a force for a better and more inclusive democracy, rather than a tool for manipulation or consolidation of power.
The rise of AI candidates like AI Steve serves as a wake-up call for democratic societies to grapple with the implications of artificial intelligence in governance and to strike the right balance between harnessing its potential benefits and mitigating its risks to the democratic process.
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Author: Bolanle Media Staff
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Saudi Arabia is reportedly considering abandoning the US dollar for oil trade settlements, a move that could shake the foundations of the global financial system. For decades, the petrodollar system has propped up the dollar’s status as the world’s reserve currency, with Saudi Arabia insisting on dollar payments for its vast oil exports.
However, recent comments from Saudi officials hint at exploring alternatives to the dollar amid growing tensions with the US over various geopolitical issues and the rise of economic powerhouses like China.
Implications of a Petrodollar Shift
If Saudi Arabia abandons the petrodollar, the implications could be significant:
1. Dollar Dominance Eroded: The dollar’s reserve currency status could weaken, potentially leading to a decline in its value.
2. Global Financial Instability: A sudden shift could trigger volatility in global markets as investors adjust portfolios.
3. Geopolitical Realignment: The move could signal Saudi alignment with China and challenge US economic hegemony.
Challenges and Uncertainties
While the prospect is significant, challenges remain:
1. Finding a suitable alternative currency with the dollar’s liquidity and stability.
2. Potential economic disruption for Saudi Arabia and trading partners.
3. Political backlash and strained relations with the US and allies.
As the world watches, it remains uncertain whether Saudi Arabia’s comments signal a negotiating tactic or a profound shift in the global financial order.
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Author: Bolanle Media Staff
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X, the social media platform formerly known as Twitter, has made a significant policy shift by officially permitting adult content on its platform with some restrictions and guidelines.
In an update to its rules, X stated that users can now share “consensually produced and distributed adult nudity or sexual behavior” as long as it is properly labeled and not prominently displayed in areas like profile pictures or header images.
“We recognize that many of our users are adults who want to freely express themselves by sharing legal adult content,” said an X spokesperson. “At the same time, we have a responsibility to protect minors and prevent exposure to explicit material without proper labeling.”
Under the new guidelines, users who “regularly post” adult content must adjust their settings to automatically mark images and videos as sensitive content, which blurs or hides the media by default. By default, users under 18 or who haven’t entered their birth date cannot view this sensitive adult content.
The policy prohibits content “promoting exploitation, nonconsent, objectification, sexualization or harm to minors, and obscene behaviors.” It applies to all adult content, whether photographic, animated, or AI-generated.
X has stated that it will monitor user-generated content and adjust account settings for those who fail to properly mark pornographic posts. Similar rules and enforcement will apply to violent content as well.
The move aligns X with Apple’s app store guidelines, which allow apps with adult content as long as it is hidden by default and behind proper age gates and content warnings.
While adult content was already present on X, this policy update officially permits and regulates it, aiming to balance freedom of expression for consenting adults with protecting minors from exposure to explicit material.
However, enforcing these rules consistently may prove challenging for X’s reduced content moderation teams following recent layoffs and cost-cutting measures.
The policy shift has drawn mixed reactions, with some praising X for embracing adult expression while others raise concerns about the potential for the platform to become inundated with pornographic content despite the restrictions.
As X navigates this new territory, the effectiveness of its labeling requirements, age verification measures, and content moderation efforts will be closely watched by users, regulators, and advocacy groups alike.
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Author: Bolanle Media Staff
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