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Cruise and Waymo score a win and a surprising deal between electric aircraft rivals on August 13, 2023 at 7:15 pm

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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.

All eyes were on San Francisco this week as critics and supporters of deploying self-driving cars on public roads awaited a vote from the California Public Utilities Commission. Tl;dr: it was a win for the autonomous vehicle industry.

If you haven’t been following, the CPUC approved the last remaining permits to Cruise and Waymo, giving the two companies the green light to offer commercial robotaxi services across San Francisco 24 hours a day, seven days a week.

In the lead up to the vote, the commission listened to hundreds of public comments, which were pretty evenly split for and against. My take: Cruise and Waymo may have won this battle, but the war to win over the public is hardly over.

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Micromobbin’

You remember Veo, right? It’s the shared micromobility operator that has gained a rep for growing at a steady, sustainable pace, rather than moving fast and breaking things? Well, now the company is moving into the retail space<.

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Candice Xie, co-founder and CEO, told TechCrunch that its Cosmo seated scooter was so popular, the company decided to pursue D2C sales of it.

When a company adds a business unit, I wonder if it’s in trouble and looking for new ways to secure revenue. Xie says that Veo is still operating profitably and sees moving into retail as a good way to expand into new markets. The company is starting with limited sales this year and will grow its capacity in 2024 if all goes well.

The Cosmo X starts at $3,499.

In other news . . . 

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Bird has another new CEO. Not even a year after the struggling company fired its founder Travis VanderZanden and replaced him with Shane Torchiana, it appears the company is facing yet another executive shakeup. Torchiana is jumping ship (as many execs at Bird have already done), to be replaced by the company’s rather new CFO. Michael Washinushi has officially taken over as interim CEO.

Boston mayor Michelle Wu is offering free cycling lessons for kids.

London-based HumanForest is now just Forest. And it’s doubling its bike-share numbers in the English city.

NABSA’s fourth annual state of shared micromobility report shows that ridership in North America has returned to pre-pandemic levels. The number of cities with shared micromobility has hit an all-time high with 401 cities, and shared e-bikes and e-scooters have offset about 74 million pounds of CO2 emissions by replacing auto trips.

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Tier and Voi are reportedly in talks over a merger.

— Rebecca Bellan

Deal of the week

The deal of the week took me by surprise!

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Serve Robotics, the autonomous sidewalk delivery robot startup that spun out of Uber’s acquisition of Postmates, is going public via a reverse merger with a blank-check company.

Ahead of the merger, Serve raised $30 million in a round led by existing investors Uber, Nvidia and Wavemaker Partners. New investors Mark Tompkins and Republic Deal Room also participated. The startup/soon-to-be-public company has raised a total of $56 million.

Upon the closing of the merger, Uber held a 16.2% stake and Nvidia an 11% stake in Serve, according to regulatory filings. Sarfraz Maredia, Uber’s vice president of delivery and head of its Americas region, has joined Serve’s board.

Other deals that got my attention this week . . . 

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Archer Aviation raised $215 million in new capital from its manufacturing partner Stellantis, Boeing, United Airlines, Ark Investment Management LLC and others, to accelerate its path to commercialization. Boeing’s portion of that new investment is going to support the collaboration between Wisk and Archer on autonomy, a source told TechCrunch.

There was some other big Archer news this week as well that I suppose could be considered a deal, or at least an agreement. I’m talking about Archer Aviation and its rival Wisk settling their trade secret legal dispute more than two years after the lawsuit was originally filed.

In a somewhat surprise twist — given how bitterly the legal battle had become — the two companies have agreed to collaborate, TechCrunch reported. Archer also agreed to make Wisk its exclusive provider of autonomy technology to be integrated into a future autonomous variant of Archer’s Midnight aircraft, in addition to the collaboration, according to a source familiar with the settlement.

Inrix, the transportation analytics and connected car services, raised $70 million in a financing round from investment funds managed by Morgan Stanley Expansion Capital and Morgan Stanley Tactical Value.

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Proterra filed for Chapter 11 bankruptcy protection. I dug into Proterra’s day one declaration and while some parallels can be drawn between Proterra and other failing or defunct EV companies, this company faces specific headwinds that took it down a rocky financial path. I break down what led to Proterra’s bankruptcy.

Treehouse, a home EV charging startup, raised $10 million in a funding round led by Montage Ventures and Trucks Venture Capital, with participation from CarMax, Assurant Ventures, Acrew Capital, Gutter Capital, Detroit Venture Partners, Holman and Automotive Ventures.

Yellow, a Nashville-based trucking company, filed for bankruptcy and has plans to shutter. The company had received a $700 million loan from the Trump administration in 2020.

Notable reads and other tidbits

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Autonomous vehicles

Cruise has started testing its self-driving vehicles in Atlanta.

Earnings

There were loads of earnings this week, but maybe you missed these two.

Two-wheeler battery-swapping company Gogoro reported revenue of $87.2 million in Q2, down 3.8% YoY and up 0.2% on a constant currency basis. Of that revenue, $33.3 million came from its battery-swapping service, predominantly active in Taiwan, which is up 9.5% YoY.

Gogoro recorded a net loss of just $5.6 million, which is way down from a net loss of $121.1 million last year, which was primarily due to a one-time $178.8 million listing expense for its SPAC merger in 2022. In adjusted terms, Gogoro recorded $12.9 million, which is up from $9.3 million in Q2 2022.

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Shared micromobility operator Bird recorded revenue of $48.3 million, down from the $66.8 million reported in Q2 2022. Bird says this is because it is operating in fewer markets than last year. That said, ride profit also went down to $26.6 million, compared to $28.4 million last year.

Bird has been trying to bring down costs, and it seems to be working. The company recorded a net loss of $9.3 million in Q2 2023, compared to $320.3 million in the same period of 2022. But it might not be enough to keep the company afloat. Bird has just –$1.8 million in free cash flow, and its total operating expenses in Q2 were $36.1 million. Maybe the company’s new CEO will be able to turn the ship around.

Electric vehicles, charging and batteries

BrightDrop, GM’s commercial EV delivery business unit, plans to expand sales of its flagship electric vans to Mexico.

Cadillac revealed the Escalade IQ — an absolutely massive EV, laden with screens, luxury features, an estimated 450 miles of range and the option to upgrade the automaker’s standard advanced driver assistance system, known as Super Cruise, to the next-level Ultra Cruise.

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Lucid said during its Q2 earnings call that it will reveal its long-awaited, all-electric Gravity SUV in November with production not kicking off until late 2024.

Motiv Power Systems said it plans to launch a medium-duty chassis with a cab that can be used in various sizes of box trucks, step vans, shuttle buses, refrigerated vehicles and vocational vehicles.

Rivian gained positive momentum in the second quarter as it ramped up EV sales, narrowed losses, reduced costs and shored up its supply chain. The company also raised its production guidance for the year from 50,000 to 52,000 vehicles and said it expects its adjusted earnings guidance for the year to improve to a loss of $4.2 billion. While still a massive number, it is better than it expected.

People

Arrival‘s board of directors appointed Igor Torgov as an executive director.

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Verge Motorcycles appointed Mark Wilson as its new CFO. Wilson was most recently CFO for Aston Martin Lagonda Plc and before that McLaren Automotive.

Vroom vroom! 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 $400 when you buy your pass now through September 18, and save 15% on top of that with promo code STATION. Learn more.

​ 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. All eyes were on San Francisco this week as critics and supporters of deploying self-driving cars on public roads awaited a vote from the California Public Utilities Commission. Tl;dr: 

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Politics

Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

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What Happened at the United Nations

On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?

The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.

International Reaction and Significance

The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

BILATERAL MEETING WITH THE PRIME MINISTER OF ISRAEL Photo credit: Matty STERN/U.S. Embassy Jerusalem

Why Is This News Important?

The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.

This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.

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Is a Nuclear-Powered Alien Spacecraft Flying Toward Earth?

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A mysterious interstellar object speeding through our solar system has reignited debates about extraterrestrial technology — and whether Earth might currently be under quiet observation.

The object, known as 3I/ATLAS, is only the third confirmed interstellar visitor ever detected. Unlike ordinary comets, however, this cosmic traveler has baffled astronomers with its unusual brightness, strange trajectory, and lack of a visible cometary tail. While most scientists cautiously describe it as a natural body, one leading astrophysicist believes something much stranger is at play.

Harvard Scientist’s Bold Claim

Professor Avi Loeb of Harvard University, head of the Galileo Project, has suggested that 3I/ATLAS may in fact be a nuclear-powered alien spacecraft designed to test how humanity would respond to an interstellar visitor. He argues that its flight path is improbably precise, bringing it close to Mars, Venus, and Earth — a pattern highly unlikely to occur by chance.

Loeb also points out that telescope images show a glow inconsistent with ordinary dust behavior. Instead of trailing behind like a comet, the halo-like light appears to extend in unusual ways, sparking debate about whether the object could be emitting energy of its own.

Headed Toward Earth’s Neighborhood

3I/ATLAS is expected to make its closest approach in late 2025, passing near Mars before swinging by the inner solar system. Although Earth itself will be on the opposite side of the Sun when it comes closest, the alignment will still enable space-based observatories to capture sharper data.

Loeb has called on NASA and other agencies to use spacecraft already stationed near Mars or Jupiter — including the Juno mission — to take high-resolution photographs. He believes such efforts could reveal whether the interstellar object is truly natural, or the first technological probe humanity has ever encountered.

Should We Be Worried?

While most astronomers argue caution before jumping to alien conclusions, Loeb insists that scientific openness is key. “If it’s just a comet, we learn something new,” he said. “But if it’s a spacecraft, it would be the most important discovery in human history.”

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For now, 3I/ATLAS remains a mysterious speck on astronomers’ charts, drifting closer with each passing day. Whether it proves to be a frozen remnant of another star system or something far more advanced, the interstellar visitor has already succeeded in one mission: reminding us how vast and unpredictable the universe really is.

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AI Automation Could Cause Up to 20% Unemployment—A Workforce on the Brink

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Stark Warning from Anthropic CEO Highlights Rapid Job Displacement Risk

The looming threat of widespread unemployment due to AI automation has sparked intense debate among experts, business leaders, and policymakers. Dario Amodei, CEO of Anthropic—the company behind the influential AI language model Claude—issued a stark warning that has sent shockwaves through corporate America:

“Up to half of all entry-level white collar jobs could disappear within the next one to five years, potentially pushing unemployment rates as high as 20% during this period.”

This dramatic forecast paints a picture of a rapid and unsettling transformation in the workforce, driven by AI technologies that can perform complex cognitive tasks.

Balancing Predictions: Worst-Case Scenarios vs. Moderate Impact

However, this forecast represents one end of a spectrum of expert predictions. While Amodei’s warning highlights the worst-case scenario driven by the swift adoption of AI agents capable of coding, analyzing data, drafting legal documents, and managing workflows around the clock, other analyses suggest a more moderate impact. For example, Goldman Sachs estimates that AI could temporarily displace about 6-7% of U.S. jobs, with unemployment rising by approximately half a percentage point during the adjustment period. Their research anticipates a more gradual transition with a mixture of job disruption and creation.

The Unprecedented Speed and Scope of AI-Driven Job Disruption

The truth likely lies somewhere in between. AI is advancing at unprecedented speed, and the scope of jobs affected spans far beyond blue-collar roles to white-collar positions that required college degrees and years of training. Entry-level roles such as customer service representatives, data entry clerks, junior analysts, and administrative assistants face the greatest near-term risk. Mid-level roles in accounting, marketing, law, and engineering could soon follow, with companies already laying off workers citing AI-driven efficiencies.

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Preparing for an AI-Transformed Workforce: Adaptation Is Essential

Ultimately, the AI-driven job transformation is no longer a distant prospect but unfolding now. Whether unemployment spikes to 20% or stabilizes at lower levels depends on many factors, including business adoption rates, government policies, and the ability of workers to reskill. What is certain is that the workforce of tomorrow will look very different from today—and the time to prepare is right now.

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