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.
Canopy Growth reported a wider-than-expected loss in its fourth quarter and fiscal year results. However, the cannabis company plans to expand its portfolio and make new investments to achieve profitability and drive growth. CEO David Klein provides insight into the earnings report and how the company plans to reach profitability. “The premium strategy coupled with our mainstream brands in Canada is the key to achieving profitability here," he said.
U.S. stocks ended near session highs to close Thursday's session after retailers released positive earnings results. Investors also continued to weigh the federal reserve's recent indication that the central will raise rates in an effort to curb inflation. Adam Johnson, Portfolio Manager for Adviser Investments, joins Cheddar News' Closing Bell to discuss.
Elon Musk officially dropped out of the $200 billion club.
The move comes as Tesla's stock continues to plummet as a number of banks and analysts reconsider their lofty valuation of the automaker. Greg Martin, Co-Founder, Rainmaker Securities joined Cheddar's Opening Bell to discuss.
On today's Biz Breakdown: Elon Musk ups his offer to buy Twitter, Pfizer drops vaccine cost for some lower income countries, and Oreo & Ritz team up to create a cracker-cookie Sandwich
Catching you up on today's top stories with Elon Musk raising his own commitment to purchasing Twitter with $33.5 billion, Apple plans to produce 220 million iPhones this year, and the company also is raising its hourly retail wage to $22 per hour amid ongoing unionization efforts at its stores.
Everyone is searching for that social media moment, whether it’s filming a viral dance for TikTok or snapping a selfie for your Instagram Story. Cheddar News explores the activities made for the online world, including streaming companies creating real-life experiences to entice you to stay subscribed, TikTok taking the stage with its first theatrical production, and how one immersive experience made out of candy encourages you to revisit your childhood.
It's not a scene from a movie: an asteroid the size of Mount Everest is headed toward earth. It's bigger than 99% of the asteroids in our solar system. But Cheddar anchor Shannon Lanier says fear not. The giant rock will miss us by more than 2 million miles.
Join Cheddar News as we break down the top headlines for Thursday, May 26 including updates on the Texas school shooting, President Joe Biden's executive order on police reform, and a recount in the Pennsylvania GOP Senate primary.
Apple warned of a potential $8 billion future sales hit due to supply issues, but Dan Ives, the managing director of equity research at Wedbush Securities, noted that the record quarterly report the tech giant posted shows demand remains high for Apple products and services. Ives joined Cheddar to explain why investors should look past the warning. "In these types of markets where many are yelling fire in a crowded theater, you look at the demand trends because that continues to be the focus for Apple," he said "I think you combine that with the services. I view it as a defensive name. It's a Rock of Gibraltar stock in a Category 5 storm as well as also an offensive play as I believe we start to move out of some of these just brutal headwinds that we've been seeing in the market once the Fed rips the band-aid off."
