Newly unsealed court documents reveal that Uber's self-driving car unit was burning through $20 million a month in the run-up to this year's expected IPO.
The bottom line: Self-driving cars require billions of dollars of investment, with no guarantee of success. Many companies will lose their shirt.
"The figures, dating back to 2016, paint a picture of a company desperate to meet over-ambitious autonomy targets and one that is willing to spend freely, even recklessly, to get there," TechCrunch's Mark Harris reports.
My thought bubble: What's the big deal?
Go deeper: Lyft beats Uber to IPO as ride-hailing rivalry heats up
