It’s summertime, and the income are measly. Nonexistent, really: Uber this week introduced it misplaced $5.2 billion this previous quarter, whereas posting file low income development. Rival Lyft did higher, dropping simply $644 million in the identical span. Uber CEO Dara Khosrowshahi referred to as the loss a “once in a lifetime hit,” since a lot of it got here from stock-based compensation prices within the wake of its IPO. Searching for profitability, each corporations provided hints that they’ll ease off undercutting the opposite with backed rides. Yup, the times of a budget Uber trip could also be waning.
Elsewhere in company schadenfreude, Boeing continued to work on a repair for its troubled 737 MAX, whereas a researcher discovered safety vulnerabilities within the code of its 787 Dreamliner jet. We additionally witnessed a pivot to electrical vehicles from a serious auto business provider, checked in with the self-driving vans roaming Texas, and extra. It’s been every week—let’s get you caught up.
Tales you might need missed from WIRED this week
- We’ve heard a number of boasting about going electrical from automakers: GM guarantees a “zero emissions” future with out providing a date; Ford used an electrical F-150 to tow a prepare. However seeing business provider Continental divest from R&D in internal combustion engines in favor of EV elements is a hard-to-deny signal that the age of the battery-powered automotive really is nigh.
- It’s been 5 months for the reason that FAA grounded the 737 MAX after a pair of lethal crashes, and Boeing continues to be engaged on a repair for the troubled airplane’s software program. Seems, that entails flying a test plane up and down off the coast of Oregon.
- You know the way having your pal punch you within the arm is an effective strategy to distract you from the ache of a stubbed toe? Possibly that’s how the oldsters at Boeing felt when a safety researcher revealed he had found flaws in the code for the 787 Dreamliner.
- Restricted laws, good climate, and an entire lot of freight to maneuver: Why Kodiak and different AV trucking corporations have flocked to Texas.
- Electrical vehicles nonetheless make up a tiny share of latest automotive gross sales, however they’ve now been round lengthy sufficient to start appearing on used car lots—and the offers are fairly good.
- Virtually precisely a 12 months after opening—and 11 months after the invention of cracks that compelled its closing—San Francisco’s Salesforce Transit Middle is coming back online, after some critical engineering work.
- Mayoral candidates in Salt Lake Metropolis are speaking about making public transit free, and polls say residents are for it. However value isn’t the one factor pushing folks into vehicles—it’s important to make the service helpful if you would like folks to make use of it.
- Of their battle for ride-hail supremacy, Uber and Lyft have spent years subsidizing rides. However their competitors is reaching one thing like a detente because the now-public corporations search profitability. That will imply the times of super cheap rides are coming to an end.
Scorching Mess of the Week
Why did the child with the rolly bag cross the freeway? As a result of an August Thursday grew to become one of many busiest days ever for a really a lot below building LaGuardia Airport and everything fell apart.
Stat of the Week
The price of the powertrain for an electrical car, in line with new analysis from consulting agency AlixPartners. Due to high-priced batteries (that are steadily getting cheaper), that’s 2.5 instances as a lot as the price of the powertrain for an inner combustion engine, which is about $6,500. (Based mostly off a 55-kWh battery pack with a 170 kW motor and a 2.5-liter, four-cylinder engine.) The hole additionally creates what AlixPartners calls a “revenue desert,” which automakers shifting to an age of EVs will wrestle to cross.
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