If you're searching for the future of transportation, look up. Transportation startup Skyryse just completed an end-to-end autonomous helicopter flight, where the pilot never had to touch the controls.
"This is a really large step toward realizing a transportation system in the sky that can one day move us away from the cars and the crumbling infrastructure that is throughout our cities," explained Mark Groden, the company's founder and CEO.
While the helicopter, called Luna, isn't to be overlooked, it isn't the main attraction as far as Skyryse is concerned. That distinction belongs to the Skyryse Flight Stack technology, which the company hopes will revolutionize short-distance air travel. The sector is flooded right now, with as many as 130 companies looking for a piece of the pie, including big names like Uber involved. Skyryse isn't looking to beat them, but assist them.
"What we're focused on is building the technology that will lead to this transportation system," said Groden.
Reliable, widely-used short-distance air travel has seemed like something of a pipe dream until now, but Groden is quick to point out the first automated flight actually took place decades ago, when the Lockheed-1011 safely crossed the Atlantic. The idea of automated air travel isn't a new one, and the CEO believes it will expedite the process of making it a reality.
"The pragmatic approach we're taking, following existing paths that the FAA is already very keen to work with us on, will allow us to realize this in single-digit years, and far sooner than I think a lot of people expect," he said.
Taking a look at investment strategy as the new year gets into full swing.
Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone. The Commerce Department said retail sales rose 0.6% in December compared with a November’s 0.3% increase.
A New York architect charged in a string of slayings known as the Gilgo Beach killings was accused in a 25-year-old Connecticut woman's death.
Uber purchased Drizly in a cash-and-stock deal for $1.1 billion in 2021. The drink delivery app will shut down in March, according to Uber.
After Donald Trump's victory at the Iowa caucus, Nikki Haley and DeSantis continue their campaigns as New Hampshire's primary looms.
Christine Short, VP of Research at Wall Street Horizon, shares insights on small and big banks earnings, a fresh round of layoffs in the tech world, and what to expect from upcoming rate decisions.
More executives are feeling better about the global economy. But a growing number don’t think their companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence.
The International Olympic Committee has signed the first beer brand in the 40-year history of a sponsorship program that earns billions of dollars for the organization and international sports.
The latest calculations from several science agencies showing Earth obliterated global heat records last year may seem scary. But scientists worry that what’s behind those numbers could be even worse.
Along with the $122 million from delinquent millionaires in October, nearly half a billion dollars in back taxes from rich tax cheats has been collected.
