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UK startup gets $1B funding for self-driving car tech

bbc.com

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Re: UK startup gets $1B funding for self-driving car tech

#11

Post by mamonster »

alephnerd wrote: post #9
goethes_kind wrote: post #8

Earlier quoted context omitted.

What exactly is causing the fiction? Is it that there are some laws that make cross-border funding a challenge? Or is it simply that it is hard to network and gain the confidence of VCs if you don't live close to where they operate from?

> What exactly is causing the fiction It's truth, not fiction. Here are dealflow statistics by country [0] There isn't enough dealflow in much of the EU, leading to a major issues as a founder where you don't have access to operators to give funding, advice, and open doors. This means you have to move, but this also means local champions don't develop who will fund local entrepreneurs. It's a chicken and egg situatio…

I think the person you are responding to meant friction instead of fiction?

The main problem IMO is that EU is still not really a single market and so a lot of the business models don't transfer as expected(an EU fintech entering DACH from like France or Denmark is like a massive step up in difficulty because the mentality is completely different).

Re: UK startup gets $1B funding for self-driving car tech

#12

Post by rospaya »

alephnerd wrote: post #6

Unlike the pessimists on here, I hope Wayve AI does well. We need more Autonomous Mobility startups, especially because most foundational model players are increasingly being acquired. Having a couple dedicated foundational model firms can allow additional players in the automotive space to form. Also, Wayve AI seems to be split between London, MTV, and Vancouver.

> Also, Wayve AI seems to be split between London, MTV, and Vancouver.

I spent a few minutes but have no idea what MTV means in this context.

Re: UK startup gets $1B funding for self-driving car tech

#14

Post by fidotron »

rospaya wrote: post #12
alephnerd wrote: post #6

Unlike the pessimists on here, I hope Wayve AI does well. We need more Autonomous Mobility startups, especially because most foundational model players are increasingly being acquired. Having a couple dedicated foundational model firms can allow additional players in the automotive space to form. Also, Wayve AI seems to be split between London, MTV, and Vancouver.

> Also, Wayve AI seems to be split between London, MTV, and Vancouver. I spent a few minutes but have no idea what MTV means in this context.

Mountain View, CA.

Happens to be where the Google HQ is too.

Re: UK startup gets $1B funding for self-driving car tech

#15

Post by fidotron »

snowpid wrote: post #2

UK has a great example for two things: 1.) What is possible with a working financial market when we compare to start up funding in the EU 2.) Big start up funding does not lead to wealth to the whole country. For a non - former - communist country UK is poor.

Regarding point 2 I think that many in the British tech scene haven't reflected enough on the fact the ARM people didn't walk away as some of the richest people in the country. They made a lot, yes, but nothing like a comparable team would have done in the US.

This means that the happy feedback loop SV enjoys of success breeding more success is cut short, and inherited wealth is favoured to a greater extreme.

The UK is simply not a country that rewards people that do anything serious. The Liz Truss remark approximating "why do all the kids want to be pop stars or football players?" was dangerously close to the point: that's the only real chance they have, and they know it.

Re: UK startup gets $1B funding for self-driving car tech

#16

Post by dukeyukey »

renegade-otter wrote: post #3

Ah, of course. I guessed it before even opening the article. They are using "AI". No one needs specifics, it's just all magic.

They go into specifics if you look for them - https://wayve.ai/technology/

It's a bit marketing-material but lots of stuff to look through there.

Re: UK startup gets $1B funding for self-driving car tech

#17

Post by JumpinJack_Cash »

snowpid wrote: post #2

UK has a great example for two things: 1.) What is possible with a working financial market when we compare to start up funding in the EU 2.) Big start up funding does not lead to wealth to the whole country. For a non - former - communist country UK is poor.

> > For a non - former - communist country UK is poor.

Huh? I have seen much more desperation in the US compared to UK

Re: UK startup gets $1B funding for self-driving car tech

#18

Post by snowpid »

JumpinJack_Cash wrote: post #17
snowpid wrote: post #2

UK has a great example for two things: 1.) What is possible with a working financial market when we compare to start up funding in the EU 2.) Big start up funding does not lead to wealth to the whole country. For a non - former - communist country UK is poor.

> > For a non - former - communist country UK is poor. Huh? I have seen much more desperation in the US compared to UK

Compared to Denmark or Germany ( one third communist !) UK is poor.

Re: UK startup gets $1B funding for self-driving car tech

#19

Post by snowpid »

fidotron wrote: post #15
snowpid wrote: post #2

UK has a great example for two things: 1.) What is possible with a working financial market when we compare to start up funding in the EU 2.) Big start up funding does not lead to wealth to the whole country. For a non - former - communist country UK is poor.

Regarding point 2 I think that many in the British tech scene haven't reflected enough on the fact the ARM people didn't walk away as some of the richest people in the country. They made a lot, yes, but nothing like a comparable team would have done in the US. This means that the happy feedback loop SV enjoys of success breeding more success is cut short, and inherited wealth is favoured to a greater extreme. The UK…

" The UK is simply not a country that rewards people that do anything serious. " this can be said about lots of European countries and yet they are richer.

Re: UK startup gets $1B funding for self-driving car tech

#20

Post by dukeyukey »

snowpid wrote: post #18
JumpinJack_Cash wrote: post #17

Earlier quoted context omitted.

> > For a non - former - communist country UK is poor. Huh? I have seen much more desperation in the US compared to UK

Compared to Denmark or Germany ( one third communist !) UK is poor.

Compared to France, the UK is fine. And compared to Spain and Portugal, it's rich! It just happens that the UK's demographics, military, geopolitical situation and economic layout mirrors France rather than Germany.
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