Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook’s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here’s More
Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook’s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here’s More
They did the math and decided that they wouldn’t sell enough of them to be profitable.Â
Fragrant_Interest_35 on
Just trillion dollar company things
FujiKilledTheDSLR on
Well when you have ~$100B just sitting in the bank, you can afford this kinda thing
Article241 on
It’s called R&D. While costly and not always successful, I’m sure there were lessons learned that Apple could perhaps apply to their other endeavors.
Bigwilliam360 on
I know a guy who did research/work on the car project and from what he’s told me it really sounds like they just were so far in over their heads with it. It would’ve cost them so much money to actually get the logistics of it figured out (I.e factories to build, all the different parts) that there was really no world they could’ve made a dime off of it.
nobody_important9 on
Couldn’t they just buy an established car brand? Like they would have enough money to buy Mercedes and would have instant access to all the tech
Silicon_Knight on
1B sounds like a lot to us, but thats such a small portion of their budgets. Their revenue was 520B and I assume this 1B was netted out over several years.
kalt13 on
a drop in the bucket compared to the billions these companies are burning trying to make AI a thing
monchota on
Was was good when they still innovated, now they just make things and charge alot for them
GeneralZaroff1 on
That’s not that much. In 2023, Apple spent $30 billion on R&D. $1B a year feels like a drop in comparison.
Meta spends what, $4 billion a QUARTER on VR development?
10 Comments
They did the math and decided that they wouldn’t sell enough of them to be profitable.Â
Just trillion dollar company things
Well when you have ~$100B just sitting in the bank, you can afford this kinda thing
It’s called R&D. While costly and not always successful, I’m sure there were lessons learned that Apple could perhaps apply to their other endeavors.
I know a guy who did research/work on the car project and from what he’s told me it really sounds like they just were so far in over their heads with it. It would’ve cost them so much money to actually get the logistics of it figured out (I.e factories to build, all the different parts) that there was really no world they could’ve made a dime off of it.
Couldn’t they just buy an established car brand? Like they would have enough money to buy Mercedes and would have instant access to all the tech
1B sounds like a lot to us, but thats such a small portion of their budgets. Their revenue was 520B and I assume this 1B was netted out over several years.
a drop in the bucket compared to the billions these companies are burning trying to make AI a thing
Was was good when they still innovated, now they just make things and charge alot for them
That’s not that much. In 2023, Apple spent $30 billion on R&D. $1B a year feels like a drop in comparison.
Meta spends what, $4 billion a QUARTER on VR development?