Two self-driving shuttle companies fail in one week. What does it bode?
Last week saw an announcement that Optimus Ride, an autonomous shuttle company in Boston was purchased in an acqui-hire by Magna, the Ontario based Tier One Automotive company. In an acqui-hire, the company has generally failed, but a buyer pays to pick up the assets and to hire the team, which took time to create. Usually it’s only enough to reward the preferred investors, the team gets options in their new employer.