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Ina Fried May 23, 2017
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Marc Andreessen voices car industry's fear: becoming Nokia

Eric Risberg / AP

The biggest concern among many carmakers isn't that they will lose ground to an auto industry rival. It's that all the companies that build cars will become like the companies that manufacture cell phones: hollowed-out shells that cede most of the value to software makers like Apple and Google.

"Car CEOs, the new generation, they're all working on this," venture capitalist Marc Andreessen told Bloomberg View. "They're spending a lot of time out here and they're spending a lot of time with us. But literally, the way they frame that question is, 'We, existing car company, do not want to be the Nokia of cars.'"