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Abstract:Tesla CEO Elon Musk's timeline to have an autonomous ride-hailing service ready by next year is too aggressive, Uber CEO Dara Khosrwoshahi told CNBC.
Tesla CEO Elon Musk's timeline to have an autonomous ride-hailing service ready by next year is too aggressive, Uber CEO Dara Khosrowshahi told CNBC.“I think it will be quite a few years beyond [2020],” Khosrowshahi said when asked how much his prediction for when self-driving vehicles will arrive differs from Musk's.Autonomous-driving experts have told Business Insider that neither Tesla nor any of its competitors is likely to have fully autonomous driving technology ready by next year.Visit Business Insider's homepage for more stories.Tesla CEO Elon Musk's timeline to have an autonomous ride-hailing service ready by next year is too aggressive, Uber CEO Dara Khosrwoshahi told CNBC on Friday.“I thought, if he can do it, more power to him,” Khosrwoshahi said. “Our approach is a more conservative approach, as far as sensor technology and mapping technology. The software's going to get there, so I don't think that his vision is by any means wrong. I just think we disagree on timing.”Khosrowshahi's comment on sensors and mapping technology likely refers to Tesla's decision to forgo lidar sensors — which emit pulses of light to detect nearby objects — and rely on high-definition maps in its autonomous-driving technology. Tesla's major competitors, like Waymo, Cruise, and Uber, use lidar in their hardware suites.“I think it will be quite a few years beyond [2020],” Khosrhowshahi said when asked how much his prediction for when self-driving vehicles will arrive differs from Musk's.Read more: LIVE: Uber is set to begin trading in one of the largest US IPOs on recordTesla did not immediately respond to Business Insider's request for comment.Musk has said that Tesla's vehicles will be ready to take part in an autonomous taxi service by the end of 2020. The vehicles will be able to drive anywhere without any restrictions, Musk said during an event for investors in April. That is a feat no company has achieved, though Musk acknowledged that Tesla may not receive immediate regulatory approval to use the cars in an autonomous taxi service in some areas.Autonomous-driving experts have told Business Insider that neither Tesla nor any of its competitors is likely to have fully autonomous driving technology ready by next year, and Musk has missed projections about autonomous-driving technology on multiple occasions. In 2015, he said it would ready in about two years, and Tesla has passed multiple deadlines set by Musk to send a self-driving vehicle across the US.Uber's autonomous-driving program faced a major setback last year when one of its self-driving test vehicles hit and killed a pedestrian. Business Insider reports from November and December described tension and dysfunction within Uber's autonomous-driving unit, including safety concerns.Have you worked for Tesla? Do you have a story to share? Contact this reporter at mmatousek@businessinsider.com.Read more:Elon Musk says Tesla's cars will defy the laws of the auto market and become more valuable over time. Experts say he's probably wrong.Elon Musk's prediction that it will have a robo-taxi service ready by the end of 2020 is a 'publicity stunt,' an expert saysAn MIT study found that Tesla Autopilot users were better than expected at taking over before potentially dangerous situationsUber insiders describe infighting and questionable decisions before its self-driving car killed a pedestrian
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Elon Musk has issued a stark warning about the US's financial stability, suggesting that the country is heading toward bankruptcy "super-fast" unless drastic measures are taken. The billionaire's financial commentary comes amid Bitcoin's retreat from its anticipated $100,000 milestone. The cryptocurrency recently fell to just above $95,000, down from a high of $99,000.
The global market reacts to various developments, including Tesla's profit miss, China's interest rate cut, Bernard Arnault's net worth decline, and typhoon Gaemi's impact. The Mt. Gox compensation, Lineage Inc.'s IPO, and Netanyahu's speech in the US Congress also influence market dynamics. European banks' mixed performance, Canada's rate cut, and Russia's sanction issues add to the market fluctuations, along with South Korea's GDP contraction and stable oil prices.
Tesla faces ongoing struggles with profit misses, impacting its stock and investor confidence. Meanwhile, Alphabet Inc.'s strong Q2 earnings highlight robust demand in cloud services and advertising. Political developments in the US, with Vice President Kamala Harris rallying support, and India's budget aimed at job creation reflect significant economic shifts. Natural disasters and corporate news, such as Boeing's resumed 737 Max deliveries and Citi's upgrade of Coinbase, also influence market
With money and willfulness, Musk buys Twitter for $43 billion this week