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  "documentTitle": "Aurora Innovation, Inc. (AUR)",
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  "notes": "The chart shows a dual-axis representation of autonomous fee per mile vs. trip length and autonomous driver proportion of total cost.",
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      "text": "But as can be seen from the chart right above, that leaves nothing for Aurora to collect for its autonomous driver.",
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      "text": "9 In our discussions with intermodal experts and shipping brokers, the common estimate was that the ceiling on intermodal prices – usually about 20% lower than OTR – was about half a function of time and half due to reduced reliability and flexibility.",
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      "text": "Under 1,000 miles – it's clear that on these trips, hub-to-hub autonomous trucking simply won't be able to compete. OTR offers a faster (most of the time) and more reliable service, and at a cost to the trucking company that's lower than autonomous trucking even if the autonomous driver were free.",
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      "text": "Between 1,000 and 1,500 miles – while less clear than on shorter trips, autonomous and OTR will have similar transit times on these trips. But because hub-and-spoke will be less reliable and more logistically complex, we expect that a ~10% discount to OTR will be necessary to compete. But as can be seen from the chart right above, that leaves nothing for Aurora to collect for its autonomous driver.",
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      "text": "Over 1,500 miles – it's only on these trips, where autonomous can offer generally faster shipping times (an advantage that increases with trip length) and where the drayage cost is amortized over an increasingly large number of middle miles, that hub-to-hub autonomous might have the opportunity to grab share from legacy OTR services and charge for it.",
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      "text": "In our discussions with intermodal experts and shipping brokers, the common estimate was that the ceiling on intermodal prices – usually about 20% lower than OTR – was about half a function of time and half due to reduced reliability and flexibility. — Footnote 9",
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      "text": "Source: Kerrisdale analysis and estimates",
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      "kind": "title",
      "text": "End-to-end Delivery Cost (continued): Autonomous (no software fee) vs. Manned",
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