Image Source: Waymo
Baby, you can drive my car
Yes I'm gonna be a star
Baby, you can drive my car
And maybe I'll love you
Beep beep'm beep beep yeah
Drive My Car - The Beatles
You know what's been all the rage as of late in technology? Self-driving cars!
Not a day goes by where some article in the news is touting the next new-new thing in autonomous self-driving vehicles.
One such company making headlines is Waymo. Waymo is a technology company which makes software for cars to drive themselves.
Waymo recently put together an ad campaign to allow for self-driving cars to hit the roadways, according to this article on The Verge by Andrew Hawkins. The company wants the federal government to speed up regulatory approval of self-driving cars. By doing so, Waymo can then pursue its strategy of employing a fleet of self-driving vehicles as a ride-sharing service.
Waymo could also license their technology to other car companies looking to get into the self-driving car space.
Many automakers such as Ford, Daimler-Benz, and GM are already partnering with or buying software companies like Waymo to develop self-driving cars. Companies like Waymo need the federal government's seal of approval on the safety of self-driving cars. If the government doesn't believe self-driving vehicles are safe or safer than vehicles driven by humans, then companies like Waymo are toast.
I believe that the government wants to promote the concept of self-driving vehicles so fewer road fatalities may occur as a result. Aarian Marshall at Wired noted the U.S. House of Representatives recently passed the SELF-DRIVE act which sets up a federal framework for self-driving cars on the road.
The fact is, autonomous driving vehicles are here and not going away anytime soon. Self-driving cars are not some George Jetson-like future concept. The trend of cars driving themselves is becoming more popular by consumers and businesses who use them.
There's just one small problem with self-driving cars, though. The software.
Many self-driving cars have sensors and software programs that detect and predict what is happening in real time on the roads. As the sensors and software in a vehicle identify movement of cars and people on the streets, self-driving cars will adjust to road conditions as they appear. Should the software, however, have a vulnerability to being hacked or worse, infected with malware, one could easily see the dangers of self-driving vehicles on public roadways.
So why would I bring this up in a finance blog post?
While self-driving vehicles may not mean much to you as an artist, the software and hardware companies behind them could have you sitting in the driver's seat of growth investing.
Companies like Alphabet, MobileEye, Autoliv and NXP Semiconductors are just a few of the many companies now trying to position themselves as leaders in the software and hardware space for self-driving vehicles.
Keep your eye on companies like these in the self-driving vehicle space. A bright outlook for self-driving cars is your best bet to a long roadway of growth investing in the tech companies supporting them.
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