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  "documentTitle": "Aurora Innovation, Inc. (AUR)",
  "authorId": "53_Kerrisdale_Capital",
  "authorName": "Kerrisdale Capital",
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  "presentationDate": "2025-08-01 00:00:00",
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  "notes": "The slide uses map-based evidence to argue that Aurora's terminals are strategically located near major FedEx hubs, despite Aurora's stated focus on long-haul.",
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      "text": "The Aurora terminal in Palmer, a suburb of Dallas, is not as conveniently located relative to FedEx's Dallas-based regional sorting facility, but it's 20 miles away and a short trip off I-45.",
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      "text": "Map showing proximity of Aurora Houston terminal to FedEx facility and Aurora Palmer terminal to FedEx Dallas facility.",
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      "text": "Aurora says that its sweet spot will be long lanes, but that it also plans “on continuing to serve these shorter routes, like Dallas to Houston, where unlocking customer endpoints for LTL customers is incredibly valuable.”",
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      "text": "Source: Google Maps, Kerrisdale Analysis. On the top panel is the trip between Aurora’s Houston terminal and the FedEx Ground sorting facility in Houston. On the bottom panel is the trip between I-45 and the FedEx Ground sorting facility in Dallas.",
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      "text": "Short Lanes",
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