Is Autonomous Rideshare The Future?

In Today’s (16th) Edition of “Element, by Arsh“ -

• Google’s Waymo Expands To Multiple Cities…

• A Good Week For Companies Reporting Earnings…

• The Target On The Back Of Healthcare Company Executives…

SELF-DRIVING CARS

Google’s Waymo Is Expanding…

The Autonomous-Driving Race. The mobility industry has been one of the most active industries in the last few years, especially since Tesla and Elon Musk restarted the race for the future of personal mobility. However, some people (including most leaders of tech companies) are now starting to believe in a reality where we might not own vehicles but rent them only when we need them, and the fact that computers will drive these cars. Uber wants to believe this. Lyft wants to believe this. Tesla wants to believe this. But, Google’s Waymo has almost sneaked up on its competitors since it started in 2009.

Waymo now operates in 3 cities, completes almost 200,000 autonomous rides every week, and drives more than 1,000,000 miles every week. While this is nothing compared to the scale at which Uber operates (completes 23 million rides every day), Waymo doesn’t need to pay drivers. This essentially boosts the gross & net margins of the company. Now, Waymo is expanding to new cities including Miami, which they think will happen in 2026. The rapidly expanding Waymo is making Uber and Lyft investors sweat as both stocks dropped almost 10% on the news about Waymo expanding to Miami. Would you feel comfortable in a self-driven car?

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EARNINGS REPORTS

A Good Week For Companies Reporting Earnings…

1. Lululemon. The athletic apparel retailer’s stock gained 16% after the company reported better-than-expected earnings for the last quarter. The company also raised its full-year guidance. Nevertheless, Lululemon stock is still down almost 20% in the last year as competition increases. Read More Here

2. Ulta Beauty. Ulta Beauty’s stock gained 9% after reporting earnings, as the company exceeded analyst’s expectations. The stock is still down in the last year due to slowing demand for beauty products. Read More Here

3. Hewlett Packard Enterprises. The company’s stock gained over 10% just after it reported a better-than-expected earnings report. The company especially found success in its cloud business. Read More Here

HEALTHCARE + PRIVATE SECURITY

The Rise of Private Security For Company Executives…

Are Insurance Companies Evil? You may have heard about the fatal attack on the CEO of UnitedHealthcare that happened in New York City. Brian Thompson, who was an executive at the United States’ biggest healthcare insurance company, was attacked early in the morning while on his way to attend the company’s investor meeting. The gunman seemed to have a grudge against health insurance companies, and decided to target Thompson as his “revenge“. While some are sympathetic to this situation, others are extremely happy after seeing this type of violence.

This kind of polarity and “appreciation“ for the actions of the gunman by some corners of the internet makes other executives in healthcare companies fear for their lives. So, there has been a recent frenzy of executives looking for personal security.

Why are people happy about this event? Well, from what I understand, it is the American healthcare system that is at the root of most people’s anger which translates to their hatred for health insurance companies. Some of these people have been denied life-saving treatments for their families by insurance companies, which adds to the anger they feel.

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