Big Tech Firms are Hedging Their Bets on Old Technology
Its an interesting thing to notice when you look through any popular tech blog or news source is the battle within the tech industry and their place in the future. For a long time it has been that they have been seeking supremacy of the smartphone market or the so called platform wars, however today they are concerned with a product that isn’t really a the new kid on the block. In fact it shaped the 19th century and the worlds infrastructure there after. You are probably familiar with this technology, in facts its probably sitting out front of your house right now. What I refer to is of coarse the automobile.
This war has been so prevalent that it is not drawing the worlds 2 largest technology companies (Apple and Alphabet) to enter the race full steam ahead. More over, the worlds most valuable privately held tech company or start up is defined by this, and I am referring to Uber Technologies. This is all not to mention the most celebrated entrepreneur on the planet at this point in history Elon Musk is hedging his bet that his Tesla Motors will change the world, not only the way it moves around but the way it powers itself, which is an exciting proclamation.
When you look around the market you can see that Musk’s Tesla Motors is leading the way to build a mass market electric car, but the auto industry establishment is hot on his tail and is coming to market with cars like the Chevy Volt or the Nissan Leaf, which is exciting but they really don’t come close to performance or popularity in this regard. Not to mention Musk’s cars are capable of driving themselves.
When we look at the ride sharing market we see that the clear leader in this arena, Uber announced last week that it has revealed its self driving car service and is available if you live in the Pittsburgh area. The CEO Travis Kalanick explains, “the reason Uber is expensive now is because you’re not just paying for the car, you’re paying for the other dude in the car.” If uber rides were a lot cheaper the idea the ride sharing could replace car ownership is a very real possibility. Uber as we know does not exist in a vacuum and their competitor Lyft is hot on their tail with their own partnership with GM and has a fleet of cars that are due some time in the next 14 months.
So it is an interesting place for the auto industry as well as the tech industry because everyone is trying to make a play in this new disruptive medium for transportation. What many of the smarter companies are doing is partnering up to get the most out of their infrastructure in creating a truly inspired product. What remains to be seen is who is going to take the top spot, which will really tell us whose prediction for the future of travel is most accurate. This is a very exciting time to be alive.