Time Kills Deals

A wise man once told me: Time kills deals.

After a career spent investing in companies, negotiating joint ventures, buying businesses, selling businesses, and now investing in startups, I’ve come to believe those three words contain an enormous amount of wisdom.

Good things rarely happen to a deal while it sits still.

Enthusiasm fades. Champions leave. Priorities change. Budgets disappear. Lawyers discover new issues. Competitors show up. Someone goes on vacation. The market moves.

Time introduces entropy.

I once worked for someone who believed procrastination was a legitimate management strategy. His theory was that if you waited long enough, many problems would eventually resolve themselves.

Sometimes they did.

More often, the opposite happened. Small problems became large ones. Decisions became harder. Momentum disappeared.

That experience taught me something I now believe strongly:

Speed is an underrated source of competitive advantage.

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Until next week,

Steve Greenfield
General Partner
Automotive Ventures

🚗 Automotive

The U.S. is emerging as the last true profit engine for the world’s carmakers—and the auto industry is scrambling to compete. “My top three priorities are: U.S.A.,” Hyundai Motor Company CEO José Muñoz said at a recent event, explaining why so many of the South Korean automaker’s new models are tailored for American drivers. U.S., European and Asian automakers are all focused on making and selling cars in the U.S. because of Americans’ proclivity for large pickups and SUVs—vehicles with high profit margins—and their willingness to swallow record-high sticker prices. New car prices are hovering around $50,000, while roughly one-fifth of new-vehicle buyers have monthly car payments that top $1,000. Another reason is that the market in China, for decades the path to automotive dominance, has hit a wall. Sales are down more than 20% through September, creating a massive overcapacity crisis. Other big markets, including Europe, Japan and the Middle East, are also sputtering. Additionally, the Trump administration eliminated strict emissions and fuel-economy rules that pushed carmakers to make electric vehicles, often at a loss. And the U.S. is insulated—by high tariffs and technology bans—from low-price, high-tech cars being made in China. | The Wall Street Journal ($)

Rising gasoline prices are steering American car buyers toward hybrid vehicles, delivering a windfall for their biggest producer, Toyota. Toyota said on Thursday that it expected its operating profit to rise to $24.7 billion for the current year through March, up 15 percent from its previous forecast. The automaker also reported higher earnings between April and September, buoyed by rising hybrid sales in the United States. The results pushed Toyota’s shares up more than 16 percent in Tokyo on Thursday. It was the company’s biggest daily gain in nearly 40 years. Toyota’s strong earnings underscore how the company’s once contrarian bet on hybrid vehicles is paying off, as high gas prices from the war in the Middle East push American drivers toward more fuel-efficient cars — just not fully electric ones. | The New York Times ($)

Tesla is winding down production of its polarizing Cybertrucks, Elon Musk, the company’s chief executive, said in a social media post on Friday, suggesting an end to the model. Production of the electric trucks at the company’s factory in Austin, Texas, will end around the middle of next year to make room for increased production of the Cybercab, an autonomous ride-share vehicle, Mr. Musk wrote in a post on X. It has not been a smooth road for the Cybertruck. Its hard-edge geometric design proved to be a love-it-or-hate-it proposition, and production has been hampered by several recalls because of software glitches and hardware issues. In March last year, the company recalled nearly all its Cybertrucks, about 46,000, after it found that an exterior trim panel was falling off. | The New York Times ($)

How could we ask for a better emblem of this stupid, violent, get-rich-quick era of America? The Tesla Cybertruck was a vehicle designed to the specifications of one man, who made himself the richest person in the world through a savvy combination of government kickbacks, stock manipulation, and viral marketing stunts. They were designed to look like a futuristic war-vehicle, manufactured in Texas at an absurdly named building called the Gigafactory, and equipped with bullet-proof side panels and doors. The Cybertruck was a car built for the paranoid fantasies that have gripped so much of a country destabilized by generations of economic theft. Electric to assuage the existential worry of climate change, bullet-proof to match America’s extremist gun culture and pervasive fear of crime, shaped like a video-game toy to please the frontal lobes of a generation doused in the recycled franchises of comic book heroes and supersoldiers. They were also absolutely dogshit cars. The electric systems were prone to software bugs. Some trucks were known to shut down completely when they got wet. Their odd shape and bizarre design made them impractical for hauling, loading, or towing anything. In 2025 the company recalled 46,000 of them because it found they had a specific piece of side panel that fell off in the cold. Almost immediately after they came out, automotive YouTubers and professional mechanics posted videos of Cybertrucks that came in with ill-fitting body work and shoddy production quality, in itself a common hallmark of Tesla’s more recent vehicles. To be fair, the doors were bulletproof, provided you shot them with a small enough caliber of gun and didn’t aim for the windows. | Rolling Stone ($)

Automotive advertising will drop below 10% of annual U.S. ad spending for the first time this year, despite the presence of marquee forums like the World Cup and the Winter Olympics, according to ad intelligence firm Guideline, which tracks spending via ad agency invoices. Ten years ago, it accounted for 13%. The numbers reflect the weakened state of auto advertisers compared with sectors like pharmaceuticals and gambling, said Sean Wright, the firm’s chief insights and analytics officer. Car brands’ budgets face greater scrutiny than ever before due to a unique combination of financial pressures stemming from tariffs, interest rates and the rising cost of gasoline, said Gina Reduto, executive vice president of strategy, advertising & partnerships, at NBCUniversal. | The Wall Street Journal ($)

Almost all industries have faced downstream impacts from the war in Iran, but the high price of diesel has been particularly hard for farmers, who use it to power machinery, and truckers, who are paying around 70 percent more per gallon than they were a year ago. In September, at least 40 trucking companies nationwide filed for bankruptcy, according to BKwire, a bankruptcy data analytics firm. It was a 38 percent increase from a year earlier. While every failing business has its own story, logistics experts and bankruptcy lawyers say record-breaking diesel prices have been a contributing factor, especially for small operators. | The New York Times ($)

We’ve all seen them: cars flying down the highway at breakneck speed, weaving through traffic as if the rules of the road don’t exist. State officials even have a name for such drivers: super speeders. Now there’s a growing push to harness GPS technology to slow them down. Virginia is pioneering the use of speed-limiters as an enforcement tool. Other states have similar plans to tackle a roadway scourge that the government says contributes to more than 10,000 deaths a year nationwide. Since Virginia’s program began in July, about 100 speed-limiters have been installed in cars. Most users were charged with or convicted of reckless driving, often for topping 100 mph; installing the device was an alternative to license suspension. Think of it as speeding’s version of ignition-interlock devices, which force people convicted of DUI to pass a breathalyzer test to start the engine. One aims to stop drunken driving, the other egregious speeding. Virginia’s devices use GPS and a map database to determine speed limits—then prevent drivers from surpassing those limits even if they hit the gas. Limited overrides are permitted for merging or emergency maneuvers. | The Wall Street Journal ($)

The next time you are stuck in a dispute with the government bureaucracy, consider Carole Blank Brown and the license plate she had on her red BMW convertible. The plate read “BLANK,” for her maiden name. It became an issue this spring when she updated the car’s registration to an Upper East Side address she had moved to several years ago. She soon received two notices about unpaid parking tickets. One, for $65, had been issued in March for a missing license plate. The other, for $95, had been issued in February for blocking a driveway. Both listed the offending license plate number as “BLANK.” Ms. Brown, a 70-year-old self-employed lawyer and real estate title agent, was confused. She said that she and the convertible had never been at the addresses where the violations occurred. “This is not my car,” she wrote in challenging one of the tickets. She called the city’s 311 line and was stunned to learn that more than 400 outstanding tickets totaling more than $40,000 in fines had piled up against her and that only an administrative judge at the Finance Department’s Adjudication Division could resolve them. Ms. Brown had been pulled into a parking-ticket vortex. | The New York Times ($)

🇨🇳 China

BYD‘s Yangwang U9 Xtreme has shattered the world speed record for production vehicles. The electric supercar achieved a top speed of 503.17 km/h during a high-speed challenge on open roads in Abu Dhabi, United Arab Emirates. This achievement marks a historic milestone, as the U9 Xtreme becomes the first production car to officially surpass the 500 km/h threshold. At 503.17 km/h (312.66 mph), the vehicle covers nearly 140 meters every second. | Car News China

A group representing nearly all major automakers on Monday urged U.S. lawmakers to pass a permanent ban on Chinese vehicles when they return next week for a quick session ‌after the midterm congressional elections. In September, the Senate sponsors of the bipartisan effort to ban Chinese vehicles agreed to delay an effort to fast-track the bill until November despite overwhelming support. "We need to protect the U.S. market from a flood of Chinese imports that carry surveillance risk and disadvantage current manufacturers that have made generational investments in ⁠American communities," said John Bozzella, who heads the Alliance for Automotive Innovation, which represents General Motors, Toyota, Volkswagen and other major automakers. Some congressional aides and auto lobbyists think if Democrats win control of Congress there may not be enough time to approve the Chinese vehicle ban before this session ends in December. | Reuters ($)

In the past month, Beijing has moved to control the exports of dozens of technologies, including drones, artificial intelligence models and agents, and certain processes used to develop advanced medicines and to make solar panels. The overall push could make it much harder for companies in the United States and elsewhere to set up solar energy equipment factories that would compete against Chinese manufacturers. And it could soon make it more difficult for anyone outside China to gain access to the latest and most powerful Chinese A.I. models. The planned restrictions show that Beijing is doubling down on its strategy of making Chinese factories indispensable to the world, even as many governments are alarmed by their countries’ dependence on China and are pushing to be less reliant. | The New York Times ($)

Valeo Chief Executive Officer Christophe Périllat says he’s looking to China to streamline the century-old auto supplier, as it pursues new business areas beyond clients like Renault and General Motors. “I call China the fitness center of the auto industry,” Perillat said in an interview in Paris. “What we learn over there is incomparable with what we learn elsewhere because of the speed.” Various processes Valeo has examined in China cost roughly 35% less than in Europe, said Perillat, whose company makes car parts including cameras, lighting systems and sensors. Some 4,300 Valeo engineers out of a global engineering workforce of more than 20,000 are currently based in China, he said. “When you look at steel, aluminum, when you look at investments, cost of manufacturing, cost of a production line, cost of building a plant, cost of everything, China is 35% cheaper,” he said. Among lessons learnt, Valeo has sped up prototyping, optimization of parts and reduced layers of management. | Bloomberg ($)

🤖 Autonomy

The self-driving electric trucks rumbling around the coal mine have battery packs so big they could power a typical American home for three weeks. The trucks operate 24 hours a day hauling up to 90 tons of coal, stopping only for six minutes to swap out their batteries for a fresh set. On the steppes of China’s far north, where Genghis Khan’s Mongolian bands made early conquests eight centuries ago, the future of mining is on display. By the end of this year, 300 of the electric trucks are set to be operating at China’s largest open-pit coal mine. Autonomous vehicles have been taking a bigger role at mines worldwide for years. Now, many of them are going electric, especially in China. Diesel fuel, the main way to power trucks, has skyrocketed in price owing to wars in the Middle East. New technology makes it possible for giant trucks to swap batteries in minutes or charge quickly. | The Wall Street Journal ($)

🦾 Robotics

Xiaomi has released footage of its humanoid robots working a full 8-hour shift at its EV factory, sorting center console side covers for its cars. The company says the robots did it on their own, catching and fixing their own mistakes along the way. Xiaomi Tech posted the video on X on November 3, as the company picked up awards at the World Internet Conference in Wuzhen. It shows the robots pulling side covers from bins, carrying them to storage racks, and placing them into slots, with a running clock of cumulative working time and an “Autonomous, 100x Speed” label in the corner. According to Xiaomi, the robot covered the full day of production needs at that workstation. The company says it detected and corrected anomalies on its own and coordinated with the production line’s control system, calling it “another step toward real-world industrial deployment.” | Electrek

🤖 Artificial Intelligence (AI)

The latest viral AI tool lets you reverse-engineer any piece of software and then build your own. People have been using this to clone Photoshop or Excel, which sort of works (and will get better over time). Big implications for vertical SaaS startups (and incumbents). | Scientific American

Meta’s Muse was among the hottest topics on corporate earnings calls in recent weeks. Meta has claimed that the agentic AI tool, which lets users automate various online tasks, is becoming a major force in shopping, with millions of people using it to make purchases of more than $200 on average. Wall Street fears that proactive shopping assistants like Muse will erode brand loyalty, ignite price wars, and squeeze corporate profits. Yet on the earnings calls and in conversations with WIRED, executives across roughly 50 companies—spanning travel, internet providers, food, and self-storage—shrugged off immediate disruption. In fact, many insisted they would mostly benefit from any real widespread adoption of agents. Reliance on agents could be costly. Zuckerberg said Meta plans to charge businesses a fee for transactions facilitated by Muse, and he predicted that this source of revenue would eventually top the company’s massive advertising business. | Wired ($)

One in 20 adults now pays for an AI assistant. | Who Pays for AI?

Imagine consumers who never visit a company’s website, never walk down a retailer’s aisle, and never type a brand name into a search bar. Instead, they tell an AI agent they need a gentle shampoo for color-treated hair for under $15, and the agent does the rest: scanning thousands of webpages, reviews, paid ads, and influencer posts; weighing ingredients; cross-referencing reviews; and then placing the order. All of this takes place in seconds, without the consumer ever seeing a brand logo, packaging, or multimillion-dollar ad campaign. Welcome to agentic commerce: a form of digital commerce in which AI agents autonomously handle discovery, comparison, purchase, and post-purchase based on the shopper’s goals, preferences, and constraints. This is not a futuristic scenario. As consumers increasingly employ AI across the full purchasing journey, traditional search is declining rapidly and large language model (LLM) traffic is exploding on platforms such as Google’s Gemini, OpenAI’s ChatGPT, and Anthropic’s Claude. Boston Consulting Group (BCG)’s December 2025 GenAI Consumer Survey of major consumer packaged goods (CPG) companies across the US reveals that 80% of consumers are already using AI, and nearly half of those are employing it to shop, in many cases the result of retailers building their own AI agents. Among these AI shoppers, 96% use it for product discovery and 80% for consideration—the first two stages of the traditional purchasing funnel—while 24% are using it for purchasing. Fully autonomous purchasing remains less common, with just 4% of consumers saying they would let an AI agent complete a purchase alone, but BCG expects adoption across the purchasing journey to continue growing. | BCG

The cost of breaking into a corporate network with AI has fallen 99% in five months, & corporate security budgets are racing to catch up. Goldman Sachs executives have discussed how the firm could soon be on track to spend as much or more on AI for security than it spends on AI coding tools. Security has been a collection of layers of defense, each an insurance policy against a particular kind of attack. As autonomous AI threats become the predominant risk, both attackers & defenders are competing on how much AI compute they can deploy. An attacker’s math is an expected-value calculation on compute. Spend $1m of AI tokens trying to break into a bank with a 1% chance at a $1b payout, & the expected value is $10m : a $9m expected profit. Spend that same compute on a 5% chance at a $500k payout, & the expected return is $25k : a $975k loss. Because cheap defensive filters block low-effort noise, rational attackers stop spraying small targets & concentrate their tokens on the largest balance sheets. Defenders face a harder equation: how much defensive AI it takes to neutralize each dollar of offensive AI. | Tomasz Tunguz

Why are defenders against cyber attacks struggling? The first reason is that many of them do not have the most advanced tools. In April Anthropic, a leading model-maker, launched “Project Glasswing”, an invitation-only club with access to the full cyber capabilities of its frontier models. It originally intended to broaden the membership widely. A similar program from OpenAI was launched with a promise to democratize access to its tools. However, access to powerful AI has become a geopolitical issue. Both of the model-makers now need sign-off from America’s federal government before admitting new members to their clubs, so expanding them has become a painful political process. In the meantime those outside the gates must defend themselves with the same open-source tools that are powering the attacks. Some are stuck in a no-man’s land: unable to access American tech, but also scared of using Chinese alternatives. The second problem is that when AI is used benignly, it creates a friendly-fire problem. The moment that a “patch” for a newly identified vulnerability is released, hackers’ AI models can examine it. This may reveal exactly what the weakness was and how to exploit it in systems that have not yet been fixed. If defenders are really unlucky—as they were with PHP—the patch may leak before it is released for defenders to use to fix their code. Attackers can then operate against still-defenceless systems. A final issue is that attackers can exploit prosaic vulnerabilities faster and on a greater scale. Cybersecurity is not just about having strong systems available in theory, but avoiding laxity in practice. Unfortunately, AI has made human carelessness easier to exploit without making computer users any wiser. An internet-connected fridge running outdated software or using a default password has been a security hazard for decades. Only now, however, have attackers found it so easy to automate the search for and exploitation of weak points, running thousands of attacks in parallel. | The Economist ($)

Fraudsters using AI to impersonate senior executives stole €95 million ($108 million) from Fideuram Private Banking, the private banking arm of Italy's biggest lender Intesa Sanpaolo, two sources familiar with the matter. More ‌than half the funds were later recovered, but some €36 million remains missing, the sources said. The scheme, first reported by Corriere della Sera, began in February when then-Fideuram Chairman Paolo Molesini received what appeared to be a WhatsApp message from Intesa Sanpaolo CEO Carlo Messina seeking urgent help with an overseas ⁠transaction. The fraudsters followed up with a phone call that appeared to come from a senior partner at a prominent law firm, confirming the instruction. According to the sources, the callers used AI technology to replicate the lawyer's voice. Believing the request was genuine, Molesini instructed his finance department to arrange a series of transfers to foreign accounts, mainly in China and Hong Kong, the sources said. | Reuters ($)

The corporate world is under siege. In a matter of weeks a flurry of serious cyber-security incidents have shaken the confidence of bosses in their defences. Thousands of new software vulnerabilities have been discovered, aided by artificial intelligence. That, along with a slew of hacks, has led many to argue that cyber-risk is entering a perilous new phase. AI has exacerbated the danger. In April Anthropic, a frontier lab, said it would not release Mythos, its latest model, to the public. Instead a limited number of software providers and financial institutions were granted access to help them plug gaps in their cyber-defences. OpenAI, a rival lab, soon launched a similar effort. In recent months frontier models have unearthed huge numbers of security flaws: the count of “common vulnerabilities and exposures” reported to software-makers and specialist cyber-security organisations is soaring. | The Economist ($)

Awareness of AI’s hacking capabilities came to the fore in April when Anthropic withheld an advanced model called Mythos from the public, and instead offered it to select software providers and financial institutions to help them identify gaps in their cyber-defences. OpenAI soon followed with its own solution. The ChatGPT-maker’s technology was recently used to identify a set of vulnerabilities in PHP, a programming language that underpins much of the web. Some expect that spending on cyber-security software—which reached $150bn last year, according to IDC, a data provider—will increase dramatically as businesses come to terms with the growing threat. Greg Brockman, a co-founder of OpenAI, recently predicted that in time the figure will “vastly outstrip” spending on all other software. Last month Andreessen Horowitz, a venture-capital firm, urged companies it has invested in to consider doubling their outlays. Goldman Sachs, a bank, has greatly increased the share of its AI budget that it allocates to cyber-security, according to people familiar with the effort. For the AI labs, detecting cyber-vulnerabilities looks like a strong fit for their technology. | The Economist ($)

We are inundated with as much commentary about the "vulnapocalypse" as there are vulnerabilities themselves. Some say this is a crisis. It’s certainly not the opposite of a crisis and there is a clear increase in workload associated with triaging the massive uptick in discovered vulnerabilities due to the incredible capabilities of our latest AI models. | Risk & Cybersecurity

AI consists of four layers: application, harness & context, model, & data center. Each layer faces an unresolved economic question, & the four layers interplay directly: rising GPU financing costs increase the value of the harness, while model & inference co-design multiplies how many users the same data center hardware can serve. | Tomasz Tunguz

Lower inference costs can improve margins for application companies, but more capable models and easier development tools can also make parts of an application easier to replace. The commercial question is what customers will continue to pay for as their alternatives improve. This exposure varies by product. An application is vulnerable when a customer can reproduce its core output with a general-purpose model and little ongoing effort. This is the question for AI application companies right now. Pricing is always important, but right now it’s extra important, yet it sometimes gets overlooked or postponed because fast-growing AI companies are reluctant to tackle it. All AI application companies need to spend time rigorously developing and pricing out these obvious-but-necessary capabilities: Domain expertise, deep integrations, reliable execution, and hard-to-access context. These are all pricing levers that can make buying substantially more attractive. Founders need to understand which advantages their customers actually value, then strengthen and price them. | A16Z

Total investment in data centers and AI infrastructure is projected to reach $10.3 trillion by 2032, which is about 3.6% of GDP a year — far more than the U.S. spent on the railroads or the internet. More and more of that spending is paid for with debt. Alphabet Inc., Amazon, Microsoft, Meta, and Oracle have borrowed $240 billion this year, up from $108 billion in all of 2025. Their debt now makes up 4.8% of the U.S. investment-grade corporate bond market, up from 2% a year ago. | Prof G Media

⚓️ Marine

China now has the world’s largest navy, with a battle force of more than 400 ships and submarines, according to official U.S. numbers seen by The Wall Street Journal. That means China’s fleet is around 35% larger than the American Navy by hull count. It is one of the largest peacetime naval buildups in modern history. The Chinese navy’s rise has been powered by the country’s rapid emergence as a colossus in shipbuilding and as the biggest sea-trading nation. Its massive shipyards churn out more than half of the world’s merchant vessels every year and take advantage of that staggering scale to build warships at high speed. On top of that, Beijing has financed the construction of a vast overseas network of ports, from Sri Lanka to Israel and Peru. Its coast guard and fishing fleets are the largest of any nation. Its research vessels are meticulously mapping the oceans, from the Mariana Trench to the Arctic. For centuries, China was a continental force. Its sudden, historic emergence as one of the world’s top maritime powers is challenging the U.S. on a scale it hasn’t faced since World War II. | The Wall Street Journal ($)

✈️ Aviation & Space

Across wide stretches of the sun-bleached Sonoran desert in Arizona, thousands of retired aircraft sit nose-to-tail in graveyards of metal known as boneyards. Many of their engines haven’t been fired up for years. But America’s soaring demand for electricity to power data centers is bringing them back to life. Several companies are racing to strip the engines out of old aircraft to convert them into electrical generators. And data centers, desperate for power, are snapping them up. | The New York Times ($)

The Pentagon’s acting head of the Defense Innovation Unit (DIU) says the United States is “starting from basically zero” on mass-producing cheap military drones, in a Bloomberg feature published Saturday, October 31, that tours the factories in Utah meant to fix that. Travis Metz put the Drone Dominance Program’s goal at about 250,000 drones by the end of 2027, backed by roughly $1.1 billion the Pentagon has committed to the four-stage competition that Defense Secretary Pete Hegseth launched in July 2025. Russia is expected to build 7.3 million small expendable drones this year, according to Ukrainian intelligence. China can surge to 500,000 a month, per a Bloomberg Intelligence report from February, and Ukraine says it will make 10 million this year and plans to double that. | Drone XL

Starlink has become essential in parts of Myanmar riven by conflict or governed by rebels. The junta has turned off cellular services in many of these areas, leaving rebel armies and humanitarian organizations reliant on connections to SpaceX’s satellites in low-earth orbit. The democratic government-in-exile uses Starlink to remotely run schools and hospitals in liberated areas, where too large a physical footprint would attract attention from the junta’s air force. In these places Starlink is ubiquitous even though, on paper, the service is not available in Myanmar. Terminals are procured elsewhere and brought into the country illegally. Until recently, SpaceX has tended to turn a benevolent blind eye towards their use. | The Economist ($)

Elon Musk approached the heads of America’s top telecom companies in recent months with a request that would help him fulfill a years-long dream. He implored the top brass at Verizon and other companies to give SpaceX access to their massive networks so the company could launch its own mobile phone service. But Musk was rebuffed. Ultimately, Verizon, T-Mobile and AT&T all told SpaceX no. The possibility of SpaceX securing an agreement to operate a mobile network has rattled the major carriers, raising concerns that Musk might threaten their industry, according to interviews with nearly a dozen people in the telecom industry, who spoke on the condition of anonymity to discuss the technology at the center of sensitive ongoing negotiations. Now, Musk may have found a back door to achieving his aim: Boost Mobile, a discount carrier targeted at low-income customers. | The Washington Post ($)

Auriga Space, a California company building electromagnetic launch technology, wants to fix one of the slowest steps in developing American hypersonic weapons: testing their materials and parts on the ground. Instead of a rocket-powered sled racing down steel rails, its Prometheus accelerator uses an electric linear motor to push a magnetically levitated test article through a sealed tube, at air pressures matched to real flight conditions, then slows it down so engineers can recover it intact and run it again within minutes. Prometheus has reached supersonic speeds and is working toward hypersonic ones, according to the company. Auriga says it is operating under contracts with the United States Air Force and the Missile Defense Agency, and in July it launched a commercial service that fires materials and coatings through real water droplets and airborne particles at speed, with Axiom Materials as its first customer. The company has also partnered with the US Army to study electromagnetic launchers for shooting down drones, and is now planning Thor, a much larger outdoor track with an 8-foot-wide tube for testing full subsystems. | Defence Blog

🚘 Car of the Week

📢 Our Automotive Ventures “Car of the Week”: a 1989 Porsche 911 Carrera 2 Coupe by Singer. | Bring A Trailer

🗞️ In the News

📢 Automotive Ventures is very excited to announce our investment in Circularity Fuels. | Circularity Fuels

📢 Steve was quoted in Automotive News: “Dealers who succeed with AI program it to address security and data privacy concerns, make sure employees use it as intended and leave wiggle room for creativity.” | Automotive News ($)