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  "documentTitle": "Aurora Innovation, Inc. (AUR)",
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  "authorName": "Kerrisdale Capital",
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  "notes": "The slide provides context for a critique of Aurora's cost-saving projections by comparing industry-wide ATRI data against specific dry van truck estimates.",
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      "text": "We would note that the ATRI numbers are not exactly measuring what Aurora says they are.",
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      "text": "marginal operating cost per mile: $2.26",
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      "text": "Of that spread, Aurora plans to capture $0.65-0.85 (see our depiction below) across, eventually, 200 billion miles.",
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      "text": "We would note that the ATRI numbers are not exactly measuring what Aurora says they are. The survey incorporates all kinds of truck fleets...",
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      "text": "Source: American Transportation Research Institute",
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      "text": "Vehicle-Based and Driver-Based cost breakdown for 2022, 2023, 2024",
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