Tesla CEO Elon Musk Says Criticism of Self-Driving Cars Can Kill People

October 21, 2016

Oct 21: Self-driving cars hold the promise of saving thousands of lives each year on US roads. But does pointing out flaws with the technology effectively put people in danger?

ElonThat claim was put forth Wednesday by Tesla Motors CEOElon Musk, who criticised the media for harping on the relatively few crashes involving Tesla's semi-autonomous driving system called Autopilot, while saying little about the about the 1.2 million people who die worldwide each year in human-driven vehicles.

"If, in writing some article that's negative, you effectively dissuade people from using autonomous vehicles, you're killing people," said Musk, who expects his self-driving technology to be at least twice as safe as cars driven by humans.

The comments came as Musk announced that all new Tesla vehicles - including the lower-cost Model 3 - will have the hardware needed to drive themselves. The talk is bold but experts say it's premature until self-driving cars prove they're better drivers than humans under any circumstances.

"Over time, after the technology has established itself, one would expect there would be a decrease in fatalities," says Raj Rajkumar, a computer engineering professor at Carnegie Mellon University who leads its autonomous vehicle research. "But this is too premature to make this claim. Tesla's technology is known to be imperfect."

In May, an Ohio man using Autopilot died when his Tesla Model S failed to spot a tractor-trailer crossing a divided highway. Neither the car nor the driver braked, and the Model S crashed into the side of the trailer. Federal investigators are looking into Autopilot's role in the crash.

There is evidence, however, that one day Musk could be proven to be right. While currently there is little data showing that fully autonomous cars would reduce deaths, there are studies that show computer controls can cut fatalities. The Insurance Institute for Highway Safety said it determined from 2016 police data that forward collision warning alone reduced front-into-rear crashes by 27 percent. Automatic braking cut the rear crashes in half and reduced injuries by almost 60 percent.

Tesla's Autopilot, introduced last year, can maintain a set speed and distance and keep the car in its lane. But the technology works mainly on highways and must be monitored by the driver. Autopilot will turn itself off if drivers have their hands off the wheel for too long.

Musk says Autopilot has already shown itself to be safer than humans. He tweeted earlier this month that Tesla vehicles have been driven 222 million miles in Autopilot mode, with one confirmed driver death. By comparison, the US fatality rate in 2014 was 2.16 deaths per 200 million miles traveled, according to government data.

The new autonomous system has been in testing for more than a year, and Musk said Wednesday it could cut worldwide deaths in half if all cars used it.

Rajkumar was skeptical and called the Tesla announcement "marketing hype." He said people should be skeptical of Tesla's claims because of the Florida crash. Self-driving technology "still needs to prove itself," he said, adding that it has trouble operating in dense urban traffic and inclement weather.

Consumer Reports magazine also is concerned about semi-autonomous systems such as those that allow a car to steer itself. The magazine believes automakers like Tesla "should take stronger steps to ensure that vehicles with these systems are designed, deployed, and marketed safely," it said in a statement.

One criticism of Autopilot is that the system gives drivers a false sense of security, causing them to be distracted and unprepared to take control in an emergency. The German government has told Tesla to stop using the Autopilot name because it implies that cars can drive themselves.

Musk disagrees, saying the term has been used in aviation to describe a system that assists pilots.

The new Tesla vehicles will use Tesla-developed software and have more sensors. They'll have eight cameras - compared to one in previous models - as well as advanced sonar and greater computing capacity. Tesla says the system is fully autonomous and can work on city streets as well as highways. Buyers can pay $3,000 for Autopilot or $8,000 for the full self-driving system.

Tesla owners, though, won't be able to give up control of their cars just yet. The company will gradually roll out autonomous capability in software updates every few months, once there's enough data to prove it's safe, Musk said. The updates also would have to meet safety regulations in the U.S. and elsewhere.

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News Network
May 30,2020

May 30: Patients undergoing surgery after contracting the novel coronavirus are at an increased risk of postoperative death, according to a new study published in The Lancet journal which may lead to better treatment guidelines for COVID-19.

In the study, the scientists, including those from the University of Birmingham in the UK, examined data from 1,128 patients from 235 hospitals from a total of 24 countries.

Among COVID-19 patients who underwent surgery, they said the death rates approach those of the sickest patients admitted to intensive care after contracting the virus.

The scientists noted that SARS-CoV-2 infected patients who undergo surgery, experience substantially worse postoperative outcomes than would be expected for similar patients who do not have the infection.

According to the study, the 30-day mortality among these patients was nearly 24 per cent.

The researchers noted that mortality was disproportionately high across all subgroups, including those who underwent elective surgery (18.9 per cent), and emergency surgery (25.6 per cent).

Those who underwent minor surgery, such as appendicectomy or hernia repair (16.3 per cent), and major surgery such as hip surgery or for colon cancer also had higher mortality rates (26.9 per cent), the study said.

According to the study, the mortality rates were higher in men versus women, and in patients aged 70 years or over versus those aged under 70 years.

The scientists said in addition to age and sex, risk factors for postoperative death also included having severe pre-existing medical problems, undergoing cancer surgery, undergoing major procedures, and undergoing emergency surgery.

"We would normally expect mortality for patients having minor or elective surgery to be under 1 per cent, but our study suggests that in SARS-CoV-2 patients these mortality rates are much higher in both minor surgery (16.3%) and elective surgery (18.9%)," said study co-author Aneel Bhangu from the University of Birmingham.

Bhangu said these mortality rates are greater than those reported for even the highest-risk patients before the pandemic.

Citing an example from the 2019 UK National Emergency Laparotomy Audit report, he said the 30-day mortality was 16.9 per cent in the highest-risk patients.

Based on an earlier study across 58 countries, Bhangu said the 30-day mortality was 14.9 per cent in patients undergoing high-risk emergency surgery.

"We recommend that thresholds for surgery during the SARS-CoV-2 pandemic should be raised compared to normal practice," he said.

"For example, men aged 70 years and over undergoing emergency surgery are at particularly high risk of mortality, so these patients may benefit from their procedures being postponed," Bhangu added.

The study also noted that patients undergoing surgery are a vulnerable group at risk of SARS-CoV-2 exposure in hospital.

It noted that the patients may also be particularly susceptible to subsequent pulmonary complications, due to inflammatory and immunosuppressive responses to surgery and mechanical ventilation.

The scientists found that overall in the 30 days following surgery 51 per cent of patients developed a pneumonia, acute respiratory distress syndrome, or required unexpected ventilation.

Nearly 82 per cent of the patients who died had experienced pulmonary complications, the researchers said.

"Worldwide an estimated 28.4 million elective operations were cancelled due to disruption caused by COVID-19," said co-author Dmitri Nepogodiev from the University of Birmingham.

"Our data suggests that it was the right decision to postpone operations at a time when patients were at risk of being infected with SARS-CoV-2 in hospital," Nepogodiev said.

According to the researchers, there's now an urgent need for investment by governments and health providers in to measures which ensure that as surgery restarts patient safety is prioritised.

They said this includes the provision of adequate personal protective equipment (PPE), establishment of pathways for rapid preoperative SARS-CoV-2 testing, and consideration of the role of dedicated 'cold' surgical centres.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
June 12,2020

New Delhi, Jun 12: The Supreme Court on Friday asked Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest incurred on EMIs during the moratorium period can be charged by banks.

A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah queried Mehta as the court was concerned since the Centre has deferred loan for three months.

"Then how can interest of these 3 months be added?" the apex bench asked. Mehta replied: "I need to sit down with the RBI officials and have a meeting."

SBI's counsel, senior advocate Mukul Rohatgi, intervened during the proceedings and said "all banks are of the view that interest cannot be waived for a six month EMI moratorium period".

"We need to discuss it with the RBI," insisted Rohatgi.

Justice Bhushan then asked Mehta to convene a meeting of the RBI and Finance Ministry officials over the weekend, and listed the matter for further hearing on June 17.

The top court, during the hearing, indicated that it was not considering a complete waiver of interest but was only concerned that postponement of interest shouldn't accrue further interest on it.

After the RBI said the waiver of interest charges on EMIs during moratorium will lead to loss of 1 per cent of the nation's GDP, the top court had earlier asked the Finance Ministry to reply, whether the interest could be waived or it would continue during the moratorium period.

The top court said these are not normal times, and it is a serious issue, as on one hand moratorium is granted and then, the interest is charged on loans during this period.

"There are two issues in this (matter). No interest during the moratorium period and no interest on interest," said Justice Bhushan. The observation from the bench came on a petition by Gajendra Sharma, in which he sought a direction to declare portion of the RBI's March 27 notification as ultra vires to the extent it charged interest on the loan amount during the moratorium period.

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