From what I heard, they are valued at 14B. It is beyond me what future they will have. No one can aquire them for meaningful exit, they surely cannot ipo with zero revenue. There's no point in joining them at this point unless the pure cash component is significantly more than what one currently makes.
I wouldn't be too excited about waymo either. It's nice they got the headline of true driverless first, but their cars still have problems with basic intersections sometimes, and they're only operating in a small, very quaint suburban environment. Meanwhile cruise is going balls deep in the concrete jungle. Drop a waymo car on the same roads a cruise car is on and it'll just lose its mind
I don't see why people think we won't IPO at some point. if our investors like gm and softbank think that an IPO will make them a boat load of money, why would they stop that? in fact I think they might be counting on it. sure not in the next year but sometime. I agree that revenue is a key component, but not the only one.
we're in the same situation now as many startups in that we have a company mostly owned by private investors who want a return on that investment and want to see us succeed. we can do that the same way most startups do, by making our product work well before going public. this is the same as companies like Uber who have been around and privately owned for a long time, it's just that our main investors are not just vc funds any more. do you think softbank gave us a bunch of money they never expected to get any return on?
IPO is at least 6 to 8 years away. Company needs to have solid technology as well as business around it's technology to go public. cruise has neither right now. They will focus on technology first and then focus will shift to having solid balance sheet. it will take time. Discount their paper money by 50+% as you are not going to see liquidity until next 5+ years for sure.
Cruise Automation is doing such a bad job, their cars are truly scary. The vast majority of self driving car crashes in CA were Cruise (over 30 crashes), with an extremely low miles driven/crash.
Their cars act totally unpredictable and don’t understand right-of-way. They can barely even drive down the street in a straight line. Last year they crashed into a motorcycle, yet refuse to release the footage which would implicate their shitty algorithms.