Recode made public leaked data that Uber's driverless car was very much a work in process. Not the real deal.
According to the data, during 20,354 miles of testing, the supposed driverless car had to be taken over continuously by the human in the vehicle.
This news can have a devastating impact to the Uber brand and how investors assess its long term value.
To begin with, it undercuts the perception of its technical know-how.
Next, it deep-sixes its profit potential. The driverless car would eliminate most of its severe employee woes. There have been constant legal battles between its contract drivers and itself. Those are expensive. Also, without drivers to share the fare, Uber would get all of it.
This latest setback is happening at a time when Uber has been in the news for everything from alleged sexual harassment to alleged poaching of Intellectual Property.
For some, Uber is the company to hate. Its enemies can take great joy in this development. The driverless car is the future and Uber may miss it.
With the competition getting more sophisticated, upstart Uber could disappear, just like upstart Gawker.
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