Toyota followed in Uber’s footsteps Tuesday, pausing tests of its driverless car system “Chauffeur”.
The decision came even after authorities said Uber was “likely not at fault” for one of its autonomous vehicles striking and killing a pedestrian in Tempe, Ariz., on Sunday. Still, it’s a move one advocacy group exec likely agrees with.
“Is getting them out faster the best idea, or is getting them out right the best idea?” Center for Auto Safety executive director Jason Levine told Cheddar before the Toyota news broke.
Police investigating the Uber incident claim the car, in self-driving mode with a human behind the wheel, was travelling at 38 mph and made no attempt to brake when a woman walked onto the street.
But the pedestrian “came from the shadows right into the roadway,” according to Tempe’s Police Chief, making the accident difficult to avoid in any case.
It was the first known fatality caused by a self-driving car, prompting Uber to halt its own pilot programs and raising questions about the future of the nascent technology, with many calling for a slowdown in development.
“There should be some step between the computer lab, the completely controlled test track, and releasing them into the communities,” said Levine.
The pace of development in this space is moving at a speed that makes it hard to build regulations and safety procedures, he added.
“There, right now, are no regulations before putting these things on the road...there’s no pre-investigation or examination of whether the technology meets the same standards as a non-self-driving vehicle.”
Autonomous cars have been seen as the futuristic antidote to the tens of thousands of deaths caused by traffic accident deaths every year in the U.S. So far the technology’s track record suggests the error levels are far lower than in traditional autos.
The National Transportation Safety Board is currently investigating the Uber incident.
The crypto industry is still reeling from Terra's recent crash. The company's blockchain was temporarily halted earlier this month after the collapse of its cryptocurrency Luna (LUNA) and its stablecoin TerraUSD (UST), which led to almost $45 billion being wiped from the tokens' market caps within a week. Now, many are left wondering what Terra's struggles mean for the broader crypto market. Reeve Collins, CEO of the NFT platform BLOCKv, joins Cheddar News' Closing Bell from Davos 2022 to discuss.
China's largest ride-hailing company will no longer be listed on the world's largest stock exchange. Didi shareholders voted on Monday to delist from the New York Stock Exchange, less than a year after launching a $4.4 billion IPO with the most significant U.S. share offering by a Chinese company since Alibaba debuted in 2014. Since going public in June of last year, around $70 billion has been wiped from Didi's market value and shares of the company have dropped nearly 90%. Now, Didi is expected to begin preparations to list in Hong Kong. Kevin T. Carter, founder and Chief Investment Officer of EMQQ Global, joins Cheddar News' Closing Bell to discuss.
Ahead of the Meta shareholder meeting, more than five hundred doctors have jointly sent a letter to investors to hold the Facebook parent accountable for the risks its platforms have posed to the public and mental health. Dr. Rob Davidson, a West Michigan ER physician and executive director of the Committee to Protect Health Care, joined Cheddar News to discuss how medical professionals are coming together to highlight the social media giant's spread of misinformation, especially during the pandemic. "We've seen the direct impacts of misinformation and disinformation that spreads like wildfire on the social media platforms," he said. "Our goal with this letter is to try to get the shareholders of Meta to convince leadership that they need to do a better job."
Snap downgraded its earnings and revenue expectations for the second quarter, saying the "macroeconomic environment" has deteriorated faster than the company anticipated. The warning sent shockwaves through the digital ad industry, dragging down a handful of other tech stocks, including Pinterest, Meta, and Twitter. Daniel Cobb, CEO and Chief Strategy Officer of Daniel Brian Advertising, joined Cheddar to discuss the reason behind this warning, and why it's bringing so many social media stocks down.
