Uber says its future is riding on the success of self-driving cars, but warns investors that there's a lot that can go wrong

Business Insider | 4/11/2019 | Rob Price
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The future of Uber's business is riding on self-driving cars.

The transportation startup has warned that if its rivals develop the tech at scale before it does, everything from its ride-hailing to its food delivery efforts are at risk.

Thursday - Company - IPOs - Time

On Thursday, the company finally filed to go public in what is expected to be one of the biggest IPOs of all time.

Uber's financial disclosures provide an unprecedented look at the inner workings of the firm, and how it's thinking about its future.

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Uber is convinced that self-driving cars are the future of its business. But even so, it warns investors, they could be a total bust for the company.

Thursday - Uber - Paperwork - Weeks - Look

On Thursday, Uber finally filed its S-1 paperwork to go public in the coming weeks, offering an unprecedented look at the inner workings of the ride-hailing company. It also provides fresh insight into how the Silicon Valley mega-startup views the promise — and perils — of autonomous vehicles.

"We believe that autonomous vehicle technologies will enable a product that competes with the cost of personal vehicle ownership and usage, and represents the future of transportation," Uber's paperwork says, adding that it believes believes the tech "will be an important part of our platform over the long term."

Company - Advanced - Technologies - Group - ATG

In 2018, the company spent $457 million on its autonomous vehicle-focused Advanced Technologies Group (ATG) and other tech initiatives — including Uber Elevate, its futuristic urban aircraft program. Long term, Uber hopes the self-driving car tech will allow it to end its dependence on human drivers in favor of a fleet of cheaper autonomous vehicles that don't need to be paid wages.

But despite investing hundreds of millions of dollars in self-driving car technology, Uber still warns that it might **** up — and says it expects its competitors to be able to commercial ise the tech...
(Excerpt) Read more at: Business Insider
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