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Steve Cohen Buys The Dip In Self-Driving Cars

Because of course.
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By an NTSB employee [Public domain], via Wikimedia Commons

By an NTSB employee [Public domain], via Wikimedia Commons

Like everyone else, Steve Cohen is a quant now, which means he’s totally hip to all the new things out there. Take these self-driving cars. They’re sort of like that car with the driver in front of his house, but for relatively poor people. They’re the future. Also, they occasionally kill people. That makes this a good time to get in on the ground floor for cheap, and is exactly the sort of opportunity for which Steve Cohen founded a venture-capital firm filled with people who know how to waterboard some skinny-jean-wearing tech bro.

Billionaire hedge fund investor Steven Cohen’s venture capital group announced this week it had co-led a $15 million investment round in a Silicon Valley startup that is developing artificial-intelligence software for driver assistance and autonomous driving….

“We’ve been following (DeepScale co-founder and CEO) Forrest Iandola’s research on efficient deep learning for a number of years,” Sri Chandrasekar, a Point72 director, said in a statement. “Forrest’s inventions … have already been a game-changer for putting deep learning onto smartphones. When we heard that Forrest had started a company to put small DNNs into mass-produced cars, we jumped at the opportunity to get involved.”

Imagine the possibilities: Autonomous Super-Duper Weenie trucks that know when you need a cased-meat fix and also know how to get to you, without the hassle of some dirtbag teenager putting relish where you specifically said, “sauerkraut, NO RELISH.” Oh, yes: Steve Cohen will change the world.

Point72 invests in artificial-intelligence firm [Stamford Advocate]



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