Uber partnered with Waymo. Uber's one of the largest investor is banking on GM Cruise. GM have 10% stake in Lyft (Uber's competitor) haha top investing firm and companies showing how they diversify. https://www.freep.com/story/money/cars/general-motors/2018/05/31/general-motors-cruise-softbank-vision-fund/658425002/
Masa is a monster. Reading his bio now
What’s this about? “There is more exclusivity between GM and SoftBank. We have agreed to a 7-year term before each of us can seek capital outside of this partnership which is a “good runway” to get that technology growth going, he said.” $2.35 billion isn’t enough for 7 years with all the scaling to be done in that time. This means that SB will have them over a barrel if they need more money within 7 years. Also, how is this a two way exclusivity? Clearly SB has more Vision Fund money to invest and transportation is a pillar in their investment thesis.
Interesting. I feel once a company starts generating revenue, few billions can take you long way. also if a company has successful product, it's easy to modify contract or existing investors can pitch in more money to accelerate growth...
There is little to no chance that GM will be generating enough cash flow in time to not need more cash in 7 years. They have 800 people. That’s just development. Operationalizing SDC at any scale will take a huge effort and lots of cash.
I don't understand why would GM give away 20% stake of the company
Their stock price surged 11% on the announcement. Cruise does better, GM does better. They can do better if they're faster with the influx of cash.
Also, GM is a carmaker operating on paper-thin profit margins. Having a 1000 of twenty-something year olds in SF eating free lunch could get expensive
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Avoid teams with only Chinese or Indians especially with a Chinese/Indian manager
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I haven’t done shit today!
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Worried that our top performer is an attrition risk. How do managers handle this?
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I’m a professional coaster AMA
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Would Meta do another round of layoff?
A drop in the bucket in their $96B dollar fund.