Money Continues to Pile Into Self-Driving Cars

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It’s like Uber, but for self-driving cars:

On-demand transportation company Lyft raised $1 billion in a Series F round of funding, with $500 million coming from General Motors, the San Francisco company announced Monday.

….In addition to the injection of cash, GM will take a seat on Lyft’s board, and the two companies will create an Autonomous On-Demand Network that will enable people to book a self-driving car in the way they currently hail an Uber or Lyft ride….Although self-driving cars could still be a ways off, the investment is a clear indicator that the transportation industry believes autonomous vehicles will play a big role in the future.

The amount of money going into self-driving cars is pretty spectacular, and it’s a good indication that the technology is moving forward quickly. At this point, my guess is that we’ll have semi-autonomous vehicles on the road in significant numbers by 2020 and fully autonomous vehicles by 2025. If you buy a new car this year, it might well be the last car with a steering wheel that you ever own.

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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