👉 Background: Apple is the second largest company in the world, with a market value of $2.8 trillion USD and a lazy $73 billion USD of cash in the bank. So, it's got more than enough money to invest in moonshot projects.

👉 What happened: In 2014, Apple launched "Project Titan", which was its major investment in self-driving electric cars (yes, the same year it added a U2 album to every single iPhone without anyone's permission). But now, 10 years later, Apple has reportedly pulled out of the autonomous vehicle race.

👉 What else: Apple warned that these autonomous vehicles were still many years away, despite the major investment. And right now, Apple is more keen to invest in Artificial Intelligence.

What's the key learning?

💡The tech industry moves fast, and if you’re not pushing hard on new innovations today, you risk being left behind.

💡Apple's iCar team was set up when autonomous electric vehicles were the hottest thing since planking. But over the past 12 months, the market demand for EV's hasn't quite been where they expected:

• Tesla announced its sales growth would be weaker this year
• Ford and General Motors have postponed plans to expand their EV production

💡Now, Apple is now shifting its focus to generative AI to hopefully make Siri the smartest AI gal on the planet... because she can barely set an alarm right now.

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