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.
E-scooter company Lime is gearing up to launch an IPO after raising $523 million in debt financing. CEO Wayne Ting joined Cheddar to talk about the decision behind the future public offering citing the fundraise as a sign of investor confidence, despite a massive drop-off in ridership amid the pandemic. He noted that some of the funds will not only be used to pay down debts but to also upgrade the company's fleet of e-bikes and scooters. "We're going to be investing $20 million of this funding towards our mission to get to net-zero on carbon by 2030," he said.
Weekly grocery delivery startup MilkRun raised $6 million in Series A funding on Friday, and Julia Niiro, CEO and founder, joined Cheddar to discuss what distinguishes MilkRun's grocery delivery model from the competition, explaining the service connects customers with local farmers being able to provide items not found in the typical stores. Niiro also talked about the impact that supply chain bottlenecks have had on the business. "This was a moment when people needed local food production," she said of MilkRun seizing the opportunity to expand to other markets amid the global food distribution issues.
With vaccinated international travelers being admitted into the United States, the service and hospitality industry could experience a boom. John Geller, president of Marriott Vacations Worldwide, joined Cheddar to talk about the gradual increase in stays at Marriott properties and noted that occupancy has reached near pre-pandemic levels. Regarding the holiday season, he said, "people love to travel, so I wouldn't be surprised if, in most of our resorts, we're not pushing close to a high 90 percent occupancy."
The pandemic caused chaos in the wedding industry after ceremonies were postponed last year. But now couples face a new problem as they look toward their big day: supply chain issues. Tim Chi, CEO at The Knot, joined Cheddar to provide some additional details about the supply constraints affecting everything from venues to flowers. Chi also talked about The Knot celebrating its 25th anniversary and how the business has transformed over the years.
Elon Musk asked Twitter if he should sell about $20 billion worth of his Tesla stock and about 58 percent of those who answered said yes. The Tesla CEO pledged to abide by the results of the poll, whichever way it went. Arun Sundararajan, NYU Stern professor & author of "The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism," joined Cheddar to discuss what the Twitter poll says about America's attitude towards billionaires and the nation's tax system.
David Ewalt, Editor in Chief of Gizmodo, joins 'Fast Forward' to paint a picture of what a metaverse-driven future looks like, and how it will propel the future of work and education.
Hyperlocal social networking platform Nextdoor made its public debut on the NYSE via a SPAC merger with Khosla Ventures Acquisition Co. II on Monday. CEO Sarah Friar joined Cheddar's "Opening Bell" to talk about what drove the company to a public offering and growing the platform on a global scale. "This allows us to not go back after investing and growing the neighborhood," Friar said. She also talked about the app's pandemic success and the fact that people have stuck around as businesses reopened on a larger scale.
Two years after its launch, Disney's streaming service is celebrating Disney+ Day by offering new and eligible returning customers a reduced subscription price of $2 for one month. The regular $7.99 monthly fee will kick in at the end of the promotion.
