Generative AI Startups See Surge in Funding Despite Concerns
Generative AI startups raised $3.9 billion in Q3 2024, despite concerns about ROI, reliability, and environmental impact.
Reese Morgan
Last night, Slate Auto unveiled its first product, a compact, two-seater electric truck that promises to be a breath of fresh air in an industry dominated by oversized, feature-laden vehicles. The truck, which is set to arrive in 2026, boasts a mere 150 miles of range and a stripped-down design that eschews the distractions of modern infotainment systems.
The Slate Truck's compact size is a deliberate response to America's growing "truck bloat" problem, where larger, heavier vehicles have become the norm. In 2024, sales of SUVs and pickup trucks reached new highs, accounting for 75% of total vehicle registrations. This trend has led to a surge in pedestrian fatalities, with 88% of pedestrian deaths occurring in single-vehicle crashes in 2022.
The Slate Truck's design is a radical departure from the status quo. With a height of 69.3 inches, length of 174.6 inches, and width of 70.6 inches, it is significantly smaller than most trucks on the road. The vehicle's cargo area measures 50 by 60 inches, and it can carry 1,433 pounds of payload and tow 1,000 pounds. While these specs may seem modest compared to larger trucks, they are still capable of handling the tasks that most truck owners need.
One of the most refreshing aspects of the Slate Truck is its approach to technology. Instead of a giant central touchscreen, the company includes dash mounts for a smartphone or tablet, allowing users to access essential information without the distraction of a large screen. This design choice is backed by research, which suggests that touchscreen-based infotainment systems have contributed to a huge increase in driver distraction.
The Slate Truck's focus on simplicity and sustainability is also reflected in its price point, which is expected to be under $20,000 (including incentives) when it arrives in 2026. This is a significant departure from the average new car buyer in America, who is paying $49,740, according to Kelley Blue Book. The truck's all-electric powertrain also promises lower maintenance costs and zero pollution.
While Slate Auto faces an uphill battle in a crowded market, its innovative approach to truck design could be a game-changer. If the Slate Truck is a hit, it could pave the way for a new generation of smaller, more affordable, and more sustainable vehicles. As the company's CEO notes, "Perhaps a world not overrun by gigantic, overstuffed, environment-destroying, killing machines is actually within reach."
Only time will tell if Slate Auto's vision will come to fruition, but one thing is clear: the Slate Truck is a bold and refreshing departure from the status quo, and its impact could be felt far beyond the automotive industry.
Generative AI startups raised $3.9 billion in Q3 2024, despite concerns about ROI, reliability, and environmental impact.
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