comma ai Going through the GM investor deck

Key Takeaways

hello periscope three people we have one person we have one person two people the Tesla says all right so I think we should kind of go through this all right because this is kind of a lot of what I see is wrong with how modern companies communicate I'm so changing the world with with AV that's all great this guy then you have a big a big a big statement cautionary note on forward-looking statements basically it's saying like we can't predict the future right so this is this is like thing one no shit right this is this shouldn't have to be a thing I'm not sure what kind of world we live in where it's like you have to make a claim that we cannot predict them but let's move on GM's world you know I'm not gonna be able to do this that well because I was just I was just talking about it with Vivian and like why something like this is absurd so you know if you have something like the trade-off between socialism and libertarianism there's arguments to be made on both sides right if you have like a trade-off between cameras and lidar there's arguments to be made on both sides and you could have a camera you could have a company that's committed to cameras are committed to light our committed to socialism committed to libertarianism but in order for that to like make any sense you need to have like a reasonable not like a like a really stupid straw man you would need I'm gonna go reasonable you know thing that you are in order for you to be saying anything you have to be able to reasonably imagine somebody's saying the opposite right so let's look at these things zero crashes zero emission zero congestion so good could you imagine somebody coming out in favor of crashes good good boy could you imagine some company coming out saying well yeah like that's not a everything in engineering and this is Yuma shows you that these people aren't engineers they don't think like engineers is about trade-offs right if you're designing a microprocessor you make a trade-off between say speed and power or you can make trade-offs between like reliability and cost engineering is all about trade-offs I'm not sure what this is right everybody who wants there to be zero crashes but to say like gee I was worldview like this is actually a unique and distinctive worldview it's not this says nothing zero emissions zero congestion nobody wants those things right even you might have some people who may not care about emissions but but they're not opposed to zero it's something that like everybody knows is better this is not this is saying nothing we are redefining the future of personal mobility right so you then go through all of these things and I mean they're not these are all different companies you talk about electric vehicles maybe you have like Tesla's the leader you talk about autonomous vehicles maybe have way mostly there you talk about shared mobility maybe you have Ober is the leader I'm not okay but I read about it so these sort of things yeah committed to the future of strong cores the foundation for investing in the future electrification um so here's another interesting thing that I noted in here where they talk about Eevee is the foundation for autonomous vehicles up why because it supports our zero emissions future again your companies are not being led by engineers and this is why you will lose um you know or they say like there is no AV without Evie I mean of course there is right look WAY Moe's doing it right way most Pacifica they're hybrids but autonomous vehicles are very different from electric vehicles because if you had one autonomous vehicle it would be incredibly useful just having you in one autonomous vehicle is useful having you in one electric vehicle is not that useful because you need infrastructure to support it so sometimes I think to say things very quickly like you know Evie is a shared infrastructure problem but it is you don't need infrastructure to support autonomous vehicles and it's important to notice all the people out there talking about like V to V and V to I you actually need you you yeah electric vehicles of course the main thing that you need is is charging stations so unless you have quick charging stations like even if you have a car that's capable of charging in five minutes when you look at how many megawatts of power you'd have to pump through the thing but this isn't gonna be that long let's let's see Lea my AV strategy right uh you know traffic fatalities are caused by human error everyone knows that parking okay we believe all a V's must be V's on I have no idea why that like are you making an argument here or these just like statements independent you know what else does this like TED Talks you ever see that like and when I press this button words will appear on the screen so let's see if they get into the technology Batman look at that lines will go up bad lines will go down but most lines will go up Oh okay first mover escape velocity your transportation service again um the transportation of the service I'm not really sure why autonomous vehicles make transportation as a service cheaper but I'm not sure there is some truly critical threshold for it's the reason a lot more people for a lot of people using uber would be cheaper than then car ownership but they're not making a rational evaluation about this they're not making like a rational decision because most purchases are irrational does a huge advertising business which support this um so they're still talking about how they're gonna do any of this safety is the gating metric yeah okay sure sure sure GM is uniquely positioned in the IRT as I say the word uniqueness in this in this presentation oh okay so it's so execution um talent is the foundation right so so when you brag about talent you brag about how you've recruited people from uber and Google boo at Google our competitors in this space how do you win if you are bragging about it's okay there's lots of ways you could you can still win but you need you need something else right um and I'll explain a concept in in in poker called called domination and domination basically are look like if your hand is ace king this is a pretty good hand to have unless somebody else at the table has baseness alright this is Texas Hold'em if seventy nine wow people are into this man okay so so listen if flop comes over right let's say let's say so so figured you have a go-go player one sitting here with an ace and your player two sitting here with a scam right um if the flop comes over and there's an ace on the flop let's say something like ace seven six right player 2 thinks through in a good position to aces but they're really not because player 1 has has three aces right let's even say it it's Kings at six right player two still believes that they are in a good position even though player 1 is right now player 3 is of course sitting at the table with you know eight nine eight nine maybe there are suited connectors right player three is in a better position than player two right because think about how many outs player 2 has versus how many outs player three has even if they came up the only real way player 2 wins this not with another ace right another ace player 3 is three of a kind to two pair but even if another king comes up that's the the only way player 2 can win as if a king comes up right versus player three which could win of either a a 10 or 5 cuts I write a lot their strengths minister it's gonna be so you do not want to be player 2 and I'll mark you why Cruz is player 2 right now all components need to be six I developed for a successful launch right the problem is the exact same slide exists at lame-o but way mo has more of these boxes filled in you know I'm really hoping like like why am I doing this I'm really hoping some investors will be able to hopefully like start to critically evaluate what this space looks like and realized why if you're the Ace King if you're saying I'm going to build what way mo is building how are you going to beat way mo so you know silver bullet for AV technology I mean really that's at least a statement that's at least a statement where something's being said it's but their compote is an engineer this is a section right he is he is an engineer you can tell that he's thinking like an engineer because he's making statements that have another like you you can argue the other side right now I'm not saying your side is wrong but you are wrong by default if there is no other side or you're not even wrong you're just saying nothing and this is something that everybody should use when they evaluate anything in the world right like think about the other position and whether it's a viable position right if people stopped like like likley please start evaluating what is being said right and now you'll think about the other side and don't attribute Mouse to the other side if there is another side right but if there is no this type realize you're saying nothing cool so no silver bullet for a check for any technology I mean maybe there is right there was a silver bullet for a girl playing I mean maybe now I'll get into I'll do a little bit of contrasting this with what comma believes um so there was a silver bullet for go playing right if you can you can kind of think of all the same stuff if you are trying to build a go agent you can imagine a company trying to build a go agent um you know they're like well okay so we're gonna do some sort of some awesome some endgame study some some opening moves study some jokes Seki study you right and the truth is that none of this matter at all I mean in fact so much didn't matter at all that you didn't even need the historical data you just needed to build one maybe a silver bullet your magical reinforcement learning algorithm and alphago zero so this is a this is a this is a state and maybe it wasn't even made this way maybe it wasn't even made as a statement that could have another side argue but I will argue the other side and I will argue that the silver bullet for maybe technology is reinforcement learning is is sophisticated machine learning because we if you we live in the alphago's 0 world that changed the world um deep simulation capability right does Cruz think their simulator is better than huevos when was this thing called car crafter it's a very sophisticated simulator um best simulator in the world right now great simulator wish I had access to it right just cruise think they're they're simulators better than weightless right um HD map they can route it who's miss mafic company in the world what are you use Maps well you use you use one of three everybody pretty much uses one of three you're either using Google Maps ways or Apple Maps and you're not using Apple maps cuz it's your first choice you're using Apple house cuz it came to your iPhone um Google Maps and ways are actually owned by the same company called Google which is also my alphabet which is the same company that also owns way mode right so so who is the best HD mapping and routing company in the world Google proprietary AV sensors okay so so now you're telling me you're gonna build custom light so so so so let's talk about the three things we have simulation mapping and light swipe these on the right that's really that's really because this is this is like a strategy for maybe company right maybe I should have kept the poker hands on the board because that really is the analogy um you know your simulation mapping and so this is one path to self-driving cars um it might be the right path I'm not arguing like like like whether it's the right path or the wrong path can be argued on the other side might way mom win self-driving cars I think it's way mo loses I mean they have a huge technology lead right now they Google has a notorious problem with rolling things out maybe this is somewhat what Cruz is betting on but you're in a very bad position if you're counting on your opponent to make a mistake right if you're counting on your if you have like a fundamentally different strategy from air quality you're in a much better position than if you're counting on your opponent to mess up I never would plays chess or any sort of strategy game knows this right you don't want to keep your down pieces you're like but I know that week I know they're gonna they're gonna stupidly lose they're wrong and he may be but when you look at advantage right now advantage Google advantage Google advantage Google so maybe maybe maybe execution has advantage Cruz but you're arguing it's an execution by them by do it excuse me hmm does actually know how to ship cars and the way mouth you know builds like satin they built their own for each other it's not well Scott right I don't think GM cars are great but if I had a choice between are you like I would remember that time for the Chevy Cobalt forty thousand dollar card it doesn't power seats it has that it has a eight-inch resistive touchscreen like really about my model three minute I want to model to if anyone out there was to some new model three moment but um yeah but you're fundamentally like execution kind of has inhabitant right - you're counting on your opponent to make a mistake of your cruise so maybe this is the you know traditional right um now there's another stack the other stack is the amount stack and this is kind of where comma lies and we're testing lies so if you think about big data and machine now you can of course like the same argument for for comma and Tesla between between Google Cruz are you talking about I tell actually both the advantages here um but we acknowledge this fact right and the idea is Tesla has a disadvantage Tesla has a substantial disadvantage and Tesla's disadvantages the following proprietor I don't know how to spell that word so say it's a less and they also had easy use right so if you believe the following two things about Tesla if you believe that Tesla's never go into licensed autopilot technology probably pretty likely um then you can talk about you know this is working okay for comma and you can also believe that Tesla will never build non electrical um and the thing here is autonomous is going to happen before electric because of that network effect that I talked about before about how we can't have the advantage here because I mean you know my zero emissions I'm a fan of zero emissions too but you know it's not my worldview right so let's go back to the this is really the main point I want to make right like how are you going to be justice Google Google understands their execution problem like at least they understand what their own mistake so they can bring it out of a car company CEO they brought me on that guy you know you watching the robot summon is that right he's right he understands where Google's previous failings are now if I were label of course but I would be doing is I would open that the Pacifica platform all right now to people right just just just do it man just ship it you know who actually this firm we talked about some time in the office right imagine instead of Google Fiber it was called uber fiber you know that shit would be everywhere they'd be crushing ISPs left and right Comcast would be in a corner crying like the taxi companies are right now that's why we slap Comcast don't interrupt our service Comcast yeah we pay on time oh we pay on time cool yeah so yeah yeah yeah yeah I go to market are ok so this uh this go to market again it's the exact same slides right now that way my eyes right this is literally way most for requirements for launching as well um anchored by valuable franchises yeah China Australia right business business business business business business I cool things that nobody understands in disclaim okay cool um but yeah do you have questions not really people are excited for uber fiber fiber is gonna be sick man yep whoever I was gonna be sick some someone has before Colliver sway my like why why do you think that's dead well okay so you can talk about the traditional stack or the ml stack right um which one of these wins is it yet to be discovered fact about the world um maybe maybe this is even like like lidar versus cameras right it's not uh we don't know yet which approach wins so comment is a bet comment is a bet comma I mean to be fair way Moe's got the Aces and we got the the nine-eight of course of course when most got the Aces cruises the Ace King we get their name right so we go back to my poker analogy here the nice thing about you know waynebow was valued at uh at 10 billion dollars and they become as valued at 200 million so that's that's uh that's a pretty big differential we're talking about you know 500 x right 500 x is actually a lot lower than the real odds of winning these hands all right so I'm fun to do for nine day I just don't have these camera I really don't have any use king of the stairs a scheme has very few outs when someone at the table is holding is holding places I could flush to or you know that guy doesn't know any updates for new users I want to convert to um Oh converting you're gonna buy any on that have you come on conversions come on I mean this here's what I say about music I know some NGOs that I feel about rugby Tampa's reveille pandas right now still work Neos will continue to work they just won't be officially supported it won't be tested they won't be but we're not gonna do anything to gratuitously break right it's not like you always want to be always wonder it's like an apple they do they make it looks like very difficult to run on it oh yeah there's a physical build Nate's talking in town sounds good Hey look man in town you guys keep building faster processors and we'll keep building slower operating systems so yeah I mean what what are what are our advantages over Tesla you see like the equipment is if way mo wins and beats crews they beat crews if Tesla Widow really launches their service a year before crews has a service ready to launch they'd have to be the dumbest people in history to not be able to scale that up and to not be able to like come on that's an easy problem compared to like the technical engineering probably software right if Tesla wins and thoroughly wins we went to we went to in the same way iOS is never going to have 95 percent market share because iPhones are too expensive and they're only supported well they're supported by one company and they guess there's no real corresponding infrastructure problem and there's no fundamental reason that Apple won't build things that might look like Android phones right which is why what you see in the iOS and so why is comma different from way mo because we're trying to completely different approach whether this approach or this approach wins remains to be seen this is a fact yet to be discovered about the world and whether Tesla or comma wins I argue that there's no income losses even if Tesla crushes it even if Tesla in fact there Tesla autopilot like you know by the end of this year is level 3 thank you for the existence proof right thank you for telling me that I know I can build something that good right even if I don't know how it works just kind of know it makes it a little bit easier you kind of think okay well I know that works I'm sure I can figure out how to do that all right you see this in science all the time you see that things get discovered really really close to each other so yeah if Tesla wins , wins if Weibo wins I just don't really see it right I was GM wants to of course sell cars to Google and below dealership prices they went a little can keep the temper set margins while you can right look at the Bob Liberty does it wobble over deal right do you want to be Volvo in that deal you just got a huge purchase order and to be fair you're now Foxconn right that's what this one doesn't have any phones to be phone makers that really wanted to differentiate themselves with software lost and phone makers that were like we're just gonna build really nice Hardware one black bear you're gone Samsung was doing great LG is doing all right but remember the phone Samsung and LG used to make these to make the crappiest flip phones 2006 any other questions nope eighty-six viewers then 86 viewers we should we should convert these we should like try like play an ad right now and like periscope will pay me all right this is a comedy on comet eons are the replacement for your car dashboard it's everything you should have wanted and you're kind of unfortunately this comet Aeon doesn't have any software in it because it's a very impromptu advertisement but this is a great universal computing platform for your car this is really don't get yours it'll have something when you have you doing you guys one song we don'twe this song isn't something where's the software game yeah this is the yes um is it panda pandas are universal car interfaces um they turn car ports that look like this into is everybody leaving because it's a happening we have more people with people about like SUV Honda Odysseys Oh Honda Odyssey which has the upside-down connector oh no I mean it works it kind of works yeah let let let some other people kind of figure out the Odyssey first be connectors literally upside down so the giraffe doesn't physically fit in the car it's ridiculous it's they probably did that on purpose they never attribute to malice but you can tune on in confidence oh by the way this is not sold as a self-driving car kit none of this stuff is sold as a self-driving car kit we sell dash cams and minor car peripherals we give away free software which which is a driving agent Honda Accord the new Honda Accord is gonna be easier to do in the old Honda Accord the old Honda Accord used this weird L cast hearing the 2018 hotter chord actually every Honda Accord comes with I think they're still calling about a sensing so yeah it's a panda there are $99 they convert this plug which is available on every car made after 1996 well what you're good we got a hyper that's this is great this is great yeah um you got to stay with us for the rest of the and after this break we'll tell you who gets the roads will tell you oh cool so this is a yeah I've got Wi-Fi USB bridges your car two things that look like computers phones of course look like computers keeps in the future yeah you can do it yourself man it's open source comma officially will support Honda's and Toyota's everything else is gonna be community supported but you seen pretty good community support does one last serve all speaking of community support we've got a tour coming up oh well no no we'll get there we haven't we got an advertise for the last thing we saw the responding 30 product today so that product yeah we have a fourth product - I don't have one where's my hoodie oh people are asking about shirts are we gonna sell no we only sell hoodies and they're only over part No oh is that a hoodie yeah yeah no this is an old one this is an old buddy no no you're not gonna you're getting you get much nicer orders man um yeah no yeah we got hats bro we got hats yeah yeah you know I feel like I feel like ah so the giraffe giraffes connect pandas even deeper into your car this connectors are available on a lot of Toyotas are you pan down like this like your connector in like this and then of course you have here a USB cable I'm going here your panda we're mass-producing he owns right now yeah just place it like that be an excellent dad yeah okay let's talk about our tour cool um so it starts we're gonna have a kickoff event for the press who doesn't know about this yet but um we're having a kickoff event on the 14th to kick off self-driving car Awareness Week self-driving car worship leave that like on the board that should always be there should always be there so on the 14th we're gonna have the kickoff for self s pellet right I'm really bad at like writing with like a penny driving car awareness we terrible marker you know you know what know who else you know would still be CEO of his company if it was profitable who would so we see you as a company of those profitable with Travis yes this is dedicated to Travis and I seriously hope you doing Walter yeah I'm a big fan Hoover's done so much good for the world so much so much good ice cream truck music like lick were like been aggressive and push it out to every city no way man you needed someone to beat those taxis up yeah so I'm 14th we're having a press event um and yeah we're gonna let the press drive our alright we're calling them demonstration units demonstration use to demonstrate our open source software open Pi and then we will be traveling across the country all right so we are right here in the middle of the country people think of San Francisco being north but it's not really this is where we're starting for the self-driving car awareness to we're gonna be driving across the country all the way back to 11:00 for a never-before-seen event or tour that's right yes right never-before-seen we're gonna be driving from San Francisco to to New Jersey in a self-driving car we're gonna be doing a lot of periscoping to make sure that can you follow on periscope or is there word Twitter's orders following so follow on yeah and that gets tuned in tuned in then follow his ass like Twitter what a good line what are you like yeah cool so we're gonna be we're gonna be plowing through California to Nevada really boring here's like Reno I don't think we're stopping I know I've already spent to Burning Man and stuff to green I went too many times which was once we're gonna fly through Nevada here or it passed Windham you good you guys know what am yuka you would not win a mucus you drove to for gas a lot of times actually there's one great thing in Nevada and that's down here that's Las Vegas but we won't be going on and what we want to LA this weekend for nips though here oh that's good because we're not going to land a lot of people ask about LA no that's just conference that's saying so say guess I guess there's Wyndham UK we're gonna fight to win em you go and we're gonna stop right here in Salt Lake City Salt Lake City is the first stop on the self-driving car awareness tour we're still followers so people still watch this any point is work that I worked for a man what kiss blow us out better yeah what we're on the periscope where we're showing for this ultra now around this to it nice we yeah we just ranted about the cruise yeah was watching upstairs with Harold this on that shit show what really reasonability I assume it was like an eight-hour presentation or something if I have to actually sit there for that oh I like applaud for like the GM executive he had GM except nobody should let me around the company we're getting distracted and we're losing folks okay so it's the song so slowly City and then we're gonna drive over here to Kansas next agenda oh whoa stopping in Denver Denver but we've actually never tourists off the number but we're not anywhere stun oh yeah yeah we're chillin in Denver so purple we will circle the tour stop in purple right cool so don't went driving like the long distance over here to Kansas City Missouri campus it's the one knock Hesston Kansas only Kansas City Missouri yeah we're not going to Kansas yo one time I was in Kansas City and it was tax-free holiday but only in like one of the states so I went to the Apple store in that state part of Kansas City I'm not the other state part of Kansas City that's confusing it's true yeah all right cool and then we're gonna be making the trip up here oh I've never actually done anything in Omaha yeah you're slapping them to stop it on and then a tour stop in Sioux oh oh well this is gonna be hard I really can't let go you X I really can't smell anything without Google guys don't don't take us in the general intelligence all right and then we're going up north nor in the appleís oh well I guess I'm in the apples hitch or something no nuts were stopped let's go at the mall America yeah I was ready because that's new yeah you know okay down over here to Chicago yeah where we also wanted to talk to a stop but we will it to a stop in Pittsburgh burg with me okay not Pittsburg California and then we're gonna head down here Philly Philly Pitts and definitely stopping and that's gonna be the last stop on our tour and I will drive home to New Jersey yep so Philly happens on the total third Wow so we have one two three four five six stops as well as the press event in San Francisco which you can kind of extrapolate out from the 14th we're gonna be publishing it it's gonna be like warp tour man yeah you know what's the last year Warped Tour it's the first year of the sub driving awareness still looking to minors we're still looking for partners your crews do you want to partner with some no but but enough but seriously I'm gonna hear in any of these cities you want to set up an event we'll have the car there dude live in Eddie from , also driven and until Chicago are joining until Chicago absolutely I'm so there will be the lead three of us will all be in comic gear we're gonna make up some nice software and car where's tour t-shirt man I've always wanted a tour the country like little peep so now we're now we're doing recipes yep but I've always wanted to in country are so we're doing this as a sovereign power we're just or we're gonna have the self-driving car available for people to try out how you can try a self-driving car yes with come AI you can hopefully we can have open town 0.4 out by then when the software team shows up resources enough yeah I hope the software teams if I'm watching this and we're all counting on them we're all counting on them that's right so yeah we're gonna that out and we're gonna let you guys try it and then we're also gonna have our dash cam pandas and your apps available for sale right on the spot we're gonna get one of those little swipe ease so we can have coordinators car readers s that's the word we're gonna get one of those then you guys you know what let me tell you about starting a company I used to say don't ever start a company but we're amending that don't ever start a company if you're not gonna have fun we gotta have man you know who's not having fun whoever wrote that long legal disclaimer in there someone's asking us zero point three point nine when's that coming up oh well almost everything would I cut out touches on the list when that list is done that yeah a little lunch it would be good night my sadly not gonna have a new model um I take that they're failing for this but it should still be pretty good cool any more questions people are still alright alright guys up tempo awareness to it thank you for joining us on periscope and I hope you have a great day thanks guys