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One of Uber s earliest investors says the billions it spent on self-driving were a waste of money [email protected] (Tim Levin) Early Uber investor Bill Gurley said the company burned billions of dollars on self-driving tech. That money would have been better spend on food delivery, he told journalist Eric Newcomer. Uber s sold off its self-driving unit in late 2020 as it grappled with a revenue downturn. Popular Searches One early investor in the company, Benchmark s Bill Gurley, says the company should have committed more investment to food delivery that it instead spent trying to build self-driving vehicles. In an interview with journalist Eric Newcomer in his newsletter Friday, Gurley lamented that Uber dumped so much capital into its self-driving unit, called the Advanced Technologies Group (ATG). Gurley s firm, Benchmark Capital, first invested in Uber in 2011, according to Pitchbook data. Gurley sat on Ube ....
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