🤖 Waymo's self-driving billions

...and Apple's big bet on health [Disclosures]( Don't try to backseat drive on this one [Westend61 via GettyImages] Yesterday’s Market Moves Dow Jones 34,034 (-0.77%) S&P 500 4,224 (-0.54%) Nasdaq 14,040 (-0.24%) Bitcoin $38,635 (-3.59%) Dow Jones 34,034 (-0.77%) S&P 500 4,224 (-0.54%) Nasdaq 14,040 (-0.24%) Bitcoin $38,635 (-3.59%) Hey Snackers, It seems like everything is in short supply these days, from computer chips to cars and workers. Girl Scouts are [having]( the opposite problem: 15M boxes of unsold cookies. While Girl Scouts handled mountains of Samoas, the Fed handled inflation concerns. Stocks fell after the central bank [indicated]( it expects higher interest rates by 2023, sooner than previously projected. Drive Google’s Waymo self-drives its way to a $2.5B fundraise — and it's putting itself on the Map Can't backseat drive... when there's no frontseat driver. Waymo is the self-driving vehicle startup that was born out of Google's "moonshot factory." Google’s most successful moonshot is still a money-loser — but not when it comes to venture cash: - Waymo just raised a massive $2.5B to advance its self-driving tech. It [calls]( its system "The World's Most Experienced Driver," which no other company can say (because Waymo trademarked the phrase). - Billions in the rearview: Explains the déjà vu. In March last year, Waymo [raised]( $2.2B in its first external fundraise (read: not just Google $$$). Waymo money... still problems. Waymo has driven millions of miles on public roads across the US. But Waymo and other self-driving companies have been criticized for moving slower than expected with commercialization. GM's Cruise, Tesla, and even Apple are all working on fully self-driving vehicles — in 2019, Elon [said]( that self-driving robotaxis would be ready... last year. As of this month, Waymo has a big wheel up over the competition: - “Waymo One,” Waymo's fully driverless taxi service, can now be [accessed]( through Google Maps, the same way you get routed to Uber’s app from Maps to book a ride. Think: distance, wait time, etc. - Far from Uber status: The service is only available in Phoenix, where the bulk of Waymo’s 600 robotaxis are running. Good luck finding One. THE TAKEAWAY Niche products need mainstream roads... Waymo has something that its biggest competitor Cruise doesn’t: a maps app with [1B+]( users. By integrating Waymo into Maps alongside providers like Uber, Lyft, and Lime, Google can "mainstream-ify" robotaxis. It could compete on pricing with OG rides, and even integrate Waymo One directly into Maps to reduce friction (cue: potential antitrust issues). It could also weave Waymo into other parts of its biz — like: Google Pay and Google Home for seamless booking. Doc Apple faces roadblocks on its boldest (long-term) plan: platform-ifying healthcare An Apple a day... keeps the Apple doctor close. Since 2016, Apple has been secretly working on an ambitious healthcare project (code name: Casper). In 2019, CEO Tim Cook predicted that Apple’s greatest contribution to mankind “will be about health.” People were like: "????." Now it (kind of) makes sense. [According]( to the WSJ: - Apple has been trying to offer its own primary-care service with Apple-employed doctors at its own clinics. - Imagine: Health data from your Apple Watch and iPhone being monitored by docs. Apple employees were the first to test the app, called HealthHabit. Spoiler... It's not going great. Besides allowing you to track your steps, the Fruit's health efforts have mostly flopped so far. It's not the only tech giant racing into the $4T healthcare industry — and others are facing hurdles, too: - Amazon is dabbling in telehealth and even launched a pharmacy, but it’s effort to lower healthcare costs fell apart. - Google has spun off its own biotechs like Verily, but its Google Health branch flopped and has been thwarted by privacy concerns. THE TAKEAWAY Apple wants to make the next big platform… for our bodies. But that could take a while. With iPhones, iPads, and MacBooks, Apple built an ecosystem for our minds (cue: endless TikTok scrolling). Watch is Apple’s big bet on an always-on platform for tracking your health. Getting the data is Step 1. If Apple can track it reliably and put it to good use, the Fruit could snag its next massive opportunity. What else we're Snackin' - [Juneteenth]( The Senate unanimously passed a bill to make Juneteenth a federal holiday, and the House moved quickly yesterday to vote it through. - [Unbucked]( Roblox shares fell 8% after the online gaming company revealed it has fewer users than it did in April – they're also spending less. - [Corolla]( Toyota shares hit a record high. The world's biggest carmaker is boosting production despite the Great Chip Shortage. - [Thirst]( Diageo, the liquor legend behind Don Julio and Smirnoff, became the first spirits company to sign an NFL sponsorship deal. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast A guy at Deutsche Bank invested in a struggling Israeli shipping company. Years later, that trade turned out to be more profitable than any Deutsche division. [Tune in]( to hear why one person’s trash is another person’s distressed asset. Snack Fact Of the Day [Giant tortoises have an average lifespan of 100 years, and can live up to 250 years]( Thursday - Weekly jobless claims - Earnings expected from Kroger and Adobe Authors of this Snacks own shares of: Google ID: 1689276 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are meant for informational purposes only, are not intended to serve as a recommendation to buy or sell any security in a self-directed Robinhood account or any other account, and are not an offer or sale of a security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. 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