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WSJ Tech News Briefing

Why Cruise Self-Driving Pause May Be Setback for Whole Industry

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 30 October 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

General Motors’ self-driving car unit Cruise has paused its U.S. operations after California regulators called its vehicles unsafe. WSJ reporter Ryan Felton explains what this decision means for the future of autonomous vehicles and rivals like Google’s self-driving unit Waymo. Plus, how testimony from former crypto boss Sam Bankman-Fried could impact his criminal trial this week. And for the latest on the FTX trial, listen to The Journal podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to Tech News Briefing, it's Monday, October 30th.

0:07.4

I'm Zoe Thomas for the Wall Street Journal.

0:10.8

Self-driving car company Cruz is hitting the brakes.

0:14.6

The General Motors Unit is suspending all of its driverless operations in the US after

0:19.9

California regulators said its vehicles were unsafe in public.

0:24.8

Our reporter, Ryan Felton, is going to tell us what it means for the future of driverless

0:29.1

cars.

0:30.1

Plus, should businesses get insurance plans for their artificial intelligence?

0:35.9

Some insurance companies see an opportunity in the risks created by Generative AI.

0:43.7

But we're starting with the criminal trial of Sam Bankman Fried.

0:47.5

The FTX founder took the stand in his own defense last week, where he countered claims made

0:52.8

by his inner circle during their testimony.

0:55.8

Our reporter, Caitlin Austroff, was in the courtroom.

0:58.5

He said that he did not steal customer funds, and he started to kind of lay the groundwork

1:05.3

of doubt with some of the testimony that his inner circle has previously given in this

1:11.1

trial.

1:12.1

And so he said that there were aspects of their testimony that did not happen, that he

1:16.9

didn't direct the use of customer funds for other activities.

1:21.2

And so, largely, that was expected, but this is, again, the direct questioning from

1:26.0

Bankman Fried's own lawyers, and we'll see what happens when cross-examination starts.

1:31.0

That cross-examination is expected to begin this week, after Bankman Fried's lawyers finished

1:35.6

their questioning.

...

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