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  • 🚗 Wayve Drives Uber into the Future

🚗 Wayve Drives Uber into the Future

Lab-Grown Meat Gets £38m Boost—Hooray!

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • Wayve Drives Uber into the Future

  • Lab-Grown Meat Gets £38m Boost—Hooray!

  • Labour Ditches Silicon Dreams for Savings

The summary: Uber's partnership with Wayve promises a future of smart, self-driving cars on its platform, accelerating the shift towards electric, autonomous rides that could make human drivers a charming relic of the past.

The details:

  • Uber has hopped into bed with Wayve, investing in the UK startup’s $1.05 billion Series C round and teaming up to potentially bring self-driving consumer vehicles to Uber's platform. Wayve's AI system, notably less reliant on lidar than rivals, is ready to shake up the autonomous driving scene.

  • Details are as vague as British weather forecasts, but Wayve is testing its technology on Jaguar I-Paces and Ford E-Transits with safety drivers, eyeing the rollout of its Level 2+, 3, and 4 self-driving systems. Meanwhile, Uber’s CEO Dara Khosrowshahi is all smiles, calling Wayve's AI a promising addition to their self-driving vision.

  • The collaboration is expected to speed up Wayve's AI fleet learning, preparing the technology for global deployment. Still, neither company is spilling the tea on when Wayve-powered vehicles will actually hit the Uber app, or how autonomous they’ll be when they do.

  • Uber is positioning itself as the darling of self-driving startups, having already partnered with Waymo’s robotaxis, as well as companies dabbling in autonomous delivery robots and freight solutions. Uber’s future, it seems, is firmly in the hands of machines.

Why it matters: Uber's dance with Wayve signals a future where your next ride might be driven by an AI, not a person, making human drivers the next endangered species. By cozying up to autonomous tech pioneers, Uber is paving the road for a world where hailing a car means summoning an electric, self-driving wonder. As for drivers — they might want to start getting chummy with their future robot colleagues.

The summary: The University of Leeds is throwing £38m into a new research hub to make the UK a global champ in alternative proteins, proving that our future meals might just be as quirky as they are guilt-free!

The details:

  • The University of Leeds is launching a £38m virtual research hub to explore alternatives to meat, from lab-grown varieties to plant-based options, with the backing of over 100 organisations.

  • The lofty ambition? To turn the UK into a global superpower of alternative proteins, aiming to create an innovation ecosystem involving 350+ partners, according to Prof Anwesha Sarkar.

  • Lab-grown meat has enjoyed a juicy 400% surge in funding from 2021 to 2022, but regulatory hurdles have slowed the feast—though startups like Meatly are already serving up cultured pet food.

  • While the new research centre is hailed as progress, sceptics like Meatly's Owen Ensor question if this is the wisest spend, urging more focus on consumer education and infrastructure.

Why it matters: So, the University of Leeds is diving into the alternative meat scene with a £38m research centre, hoping to turn the UK into a global leader in lab-grown and plant-based proteins. Despite the buzz and a hefty increase in funding, regulatory red tape and scepticism about spending priorities have thrown a spanner in the works. In short, if you’re dreaming of a future where meat doesn’t come with a side of environmental guilt, this is the place where they’re cooking up the solution.

The summary: Labour's new AI strategy swaps big industry spending for a savvy focus on public sector efficiency, trimming costs while putting Silicon Valley dreams on hold.

The details:

  • Labour's AI strategy has done a U-turn, swapping grand investments in industry for a thrifty focus on public sector AI adoption—efficiency over existentialism, it seems.

  • The government’s £1.7 billion AI fund has been quietly binned, including £800 million earmarked for a supercomputer. Who needs cutting-edge tech when you can cut costs instead?

  • Plans for an AI Safety Institute office in San Francisco are teetering on the edge of oblivion—because who needs Silicon Valley when you’ve got Whitehall?

  • Peter Kyle, now at the AI helm, is trimming ambition, eyeing public sector AI as a budget saver, while safety boffins are left wondering where their existential risks went.

Why it matters: Labour’s AI rethink signals a shift from visionary tech investments to penny-pinching practicality, leaving the high-flying innovation to others. By focusing on public sector AI, they’re hoping to streamline government services without blowing the budget, all while quietly shelving Silicon Valley dreams. The result? A pragmatic pivot where AI safety and cutting-edge ambitions may take a backseat to saving a few quid.