The Importance of Succession Planning
Professor Bower has also been active in the development of various institutions and programs. Between 1968 and 1973 he helped establish the International Institute for Applied Systems Analysis in Vienna, Austria. In 1978, he founded the Program for Senior Managers in Government at Harvard’s JFK School of Government; and in 1995 he founded the General Manager Program at Harvard Business School. Currently he is helping to build the new joint MBA-MPP degree program offered by the Business School and the Kennedy School of Government.
Joe Bower: In academia, in the beginning of\r\n the late ‘80’s and then into the ‘90’s, there was this idea being sold,\r\n particularly by organization economists that basically you could break \r\nup big firms and create more value because the corporate offices of \r\nthese things was only overhead. And that seemed wrong because actually \r\nif you were – if you believed in markets, you looked around the world \r\nand you saw an awful lot of big multi-business firms and they were \r\nprospering. So, I thought I would spend some time exploring what I \r\ncalled corporate value added. And I did that and all of a sudden it \r\noccurred to me that one of the things that was most closely associated \r\nwith the creation of real value and sustained over long periods of time \r\nwas management of succession. And as soon as you say it, it’s pretty \r\nobvious that if you can continue to have good leadership, that’s going \r\nto be very important to a company, or to a nation for that matter. When\r\n we study history, we see the same thing.
So, I did begin to \r\nexplore and I studied CEO succession and that led to the book, because \r\nthat’s the way academics communicate once they’ve got a body of \r\nknowledge.
Question: What's in it for a current CEO to \r\nthink about his or her successor?
Joe Bower: Well, one\r\n of the critical findings was that the way you manage succession is \r\nbasically the way you manage the company and companies that have \r\nproblems with succession usually also begin to have problems with their \r\nbusiness. The two tend to go together. Companies that are able to \r\nmanage succession well have been investing in the development of leaders\r\n of their people at the same time that they’re developing businesses. \r\nIn any significant period of time, like several years—5, 10, it’s very, \r\nvery hard to have a successful business without having great people \r\nrunning it. This is a tough world that we live in today, lots of \r\ncompetition. So, that emerged very clearly as one finding, and then \r\nthere are lots of elements, which we can talk about if you want as to \r\nwhat it means to manage a company.
Question: How can \r\nboards evaluate candidates to succeed a CEO?
Joe Bower:\r\n Management succession begins with who you’re recruiting, how you bring \r\nthem on board in the company, the career paths that are available for \r\nthem, the training they get, the mentoring they get, the way in which \r\nthey are developed. So, a critical question that comes up all the time \r\nis: "We have a critical job that’s opening up that needs to be dealt \r\nwith. Who do we put in?" In the world you just described, the simplest\r\n thing is to find the person who can probably do the best job and put \r\nhim or her in at that point. But that’s not what you really want to \r\ndo. You really also want to say, who has a good crack at doing that \r\njob, but would really grow because they had done it? And that’s the \r\nstory that is often used on this point is that of the career of Jeff \r\nImmelt. He was brought in to turn around the home appliance business \r\nduring a period of a big recall, and it was a nightmare, but he often \r\nsays in discussing this that he’d never be the CEO of GE had he not had \r\nthat really tough particular experience.
Question: What\r\n is an "inside outsider?"
Joe Bower: An inside \r\noutsider is someone who is growing up within the organization in just \r\nthe way I’ve been describing. He was recruited well, was developed and \r\nis identified as having potential and given more responsibility, but \r\nsomehow has managed to also maintain a sense of where the world is going\r\n and what is going to have to change in the company if it’s going to be \r\nsuccessful in the next period. Typically insiders are great, but by the \r\ntime they get up to the very top, they’ve drunk the Kool-Aid and they \r\nreally believe in their organization to the extent that they don’t see \r\nthe need for radical change. They know certain things have to change to\r\n do this, do that, and they tend to see things in terms of what you \r\ncould do step-by-step. But the world is changing very, very, very fast \r\nand that’s not enough. And it’s often critical to see that real change \r\nis needed.
That’s what you look for. I mean, typically we know,\r\n we see them in any organization they’ve been with. They tend to be \r\nsmart, they tend to be difficult, they don’t necessarily play well with \r\nothers. So, they need some work. But that’s what it’s all about. When\r\n you find those people and you can give them the management skills they \r\nneed to budget well, to create teams, to lead teams, those are the \r\nthings you can really help people with. It’s very hard to give them \r\nthat breadth of perspective, that maverick's willingness to see \r\nsomething and go after it even though no one else necessarily sees it. \r\nAnd in organizations, you look for people like that and you try to \r\ndevelop them.
Question: What if the new CEO comes from\r\n the outside?
Joe Bower: Obviously a lot do and some \r\nsucceed. Generally, if you’re going outside, it means that the \r\norganization has failed. It has failed. Either its performance is so \r\nbad that it’s clear that within the organization there isn’t someone who\r\n can see what needs to change. Or they simply haven’t developed, it may\r\n be successful but for reasons as you have described there is a strong \r\nleader that has never developed others, there’s no one to take over who \r\nhas the real strength. A lot of school systems need change and they \r\ncan’t get it from within because people from within don’t have the skill\r\n set. One of the problems in universities is when you promote from \r\nwithin; very often you’re just promoting a good department chairman, or \r\nworse, just a good professor. Very few schools have a management \r\ndevelopment program. We at Harvard Business School work very hard to \r\nmake sure that those faculty who have the talent get a chance to \r\nadminister over a decade so that when the time comes to pick a Dean, \r\nthere are usually four or five people who have been running things and \r\nwe can get a sense of whether they would be a good dean.
Recorded April 1, 2010
Why an "inside outsider" might be the next person most suited to take over a company.
Join Radiolab's Latif Nasser at 1pm ET on Monday as he chats with Malcolm Gladwell live on Big Think.
Innovators don't ignore risk; they are just better able to analyze it in uncertain situations.
Remarkable 'fan art' commemorates 50th anniversary of legendary guitar player's passing.
- Legendary rock guitarist Jimi Hendrix died exactly 50 years ago today.
- From September 1966 to his death, he performed over 450 times.
- This spectacular 'gigograph' shows the geographic dimension of his short but busy career.
Last night at the Samarkand<video controls id="3f8a7" width="100%" class="rm-shortcode" data-rm-shortcode-id="5cd31bc25fbed5fd4fbc5905d44527e8" expand="1" feedbacks="true" mime_type="video/mp4" shortcode_id="1600450310811" url="https://roar-assets-auto.rbl.ms/runner%2F19636-JimiHendrix_LivePerformances.mp4" videoControls="true"> <source src="https://roar-assets-auto.rbl.ms/runner%2F19636-JimiHendrix_LivePerformances.mp4" type="video/mp4"> Your browser does not support the video tag. </video><p>On September 17, 1970, Jimi Hendrix awoke at the Samarkand Hotel in Notting Hill, London, in the basement flat where his German girlfriend Monika Dannemann was staying. At around 2 p.m., they had tea in the hotel's garden and Monika took some snaps of Jimi with 'Black Beauty,' his favorite Fender Stratocaster guitar. Those were the last pictures ever taken of him. </p><p><span></span>Later in the afternoon, the couple went out – visiting local hipness hotspot <a href="https://en.wikipedia.org/wiki/Kensington_Market,_London" target="_blank">Kensington Market</a>, an antiques market in Chelsea and Jimi's suite at the Cumberland Hotel, near Marble Arch. They had tea and wine at a friend's flat, argued and made up, and went back to the Samarkand Hotel, where they had a late meal, drank a bottle of wine and Jimi wrote a poem titled 'The Story of Life.'</p><p>Well after midnight, Hendrix went to a party, where he took some amphetamine. Dannemann showed up at the party, and around 3 a.m. the couple returned to the Samarkand. Unable to sleep, Jimi took nine of Monika's sleeping pills (the recommended dose was half a pill). When she awoke that morning, she found him unresponsive and covered in vomit. Around noon of the 18th of September – exactly 50 years ago today – Jimi Hendrix was pronounced dead.</p><p>The last stanza of the poem he wrote the night before reads:</p><p style="margin-left: 20px;"><em>The story of life is quicker than the wink of an eye.</em></p><p style="margin-left: 20px;"><em>The story of love is hello and goodbye.</em></p><p style="margin-left: 20px;"><em>Until we meet again.</em></p><p>Amid the initial confusion surrounding his death, the poem was mistaken by some for a suicide note. Several subsequent investigations have provided nothing but indications of an accidental death. <br></p>
Immortalised in the '27 Club'<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQyNDQ3NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYxMDU1NjcxNX0.27c7ESrA2OnXExGCsigfs5jOVoAAAR-M9pn3sIFRZdA/img.png?width=980" id="b5894" class="rm-shortcode" data-rm-shortcode-id="6979d0862296c37bddbf9ea081cd3171" data-rm-shortcode-name="rebelmouse-image" alt="\u200bJimi Hendrix performing for the Dutch TV show 'Hoepla' on 11 June 1967." />
Jimi Hendrix performing for the Dutch TV show 'Hoepla' on 11 June 1967.
Credit: A. Vente, CC BY-SA 3.0<p>Arguably the<a href="https://www.youtube.com/watch?v=cJunCsrhJjg&ab_cha..." target="_blank"> greatest guitarist in rock history</a>, Hendrix was one of the first modern members of the '27 Club' – musicians immortalised mid-fame, dead at the still-tender age of 27. Earlier members include Robert Johnson (d. 1938) and Brian Jones (d. 1969), later ones Janis Joplin (who died two weeks after Hendrix), Jim Morrison (d. 1971), Kurt Cobain (d. 1994) and Amy Winehouse (d. 2011).</p><p>In the States, Hendrix had made a name for himself as a band guitarist, playing for both Little Richard and Ike Turner. Not an undividedly positive name: he got fired from both of those bands. His own career – as a solo artist, and as the leader of the Jimi Hendrix Experience – only took off when he moved to London. <br></p><p>The graph above connects over 450 dots, one for each gig he played. It shows the amount of hard work Hendrix put into his career, and how it paid off – after criss-crossing Northwestern Europe, but mainly England, his fame hops back across the Atlantic and becomes transcontinental. A few samples from his <a href="https://concerts.fandom.com/wiki/Jimi_Hendrix" target="_blank">gig database</a>:</p>
London first, London last<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQyNDQ4My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzMDQ4MTg5Nn0.ST2r7qyiI9CELqKP0-CpoV7YIWioAEQBXscq9mJVESM/img.jpg?width=980" id="86886" class="rm-shortcode" data-rm-shortcode-id="0d79abc719416b4068456e6938fcd776" data-rm-shortcode-name="rebelmouse-image" alt="The Jimi Hendrix Experience in 1968, with Jimi, bass player Noel Redding (right) and drummer Mitch Mitchell (on the floor)." />
The Jimi Hendrix Experience in 1968, with Jimi, bass player Noel Redding (right) and drummer Mitch Mitchell (on the floor).
Credit: public domain<ul><li>24 September 1966: first solo performance in London, at Scotch of St James.</li><li>13 October 1966: first concert of the Jimi Hendrix Experience, supporting Johnny Halliday in Évreux, France.</li><li>18 January 1967: performing 'Hey Joe' on 'Top of the Pops', at the BBC TV's Lime Grove Studios in London.</li><li>18 June 1967: first stateside gig, at the <a href="https://www.youtube.com/watch?v=fe82eYRjiBU&ab_cha..." target="_blank">Monterey International Pop Festival</a> in California.</li><li>3 July 1967: first East Coast show, at the Scene Club in NYC.</li><li>9 October 1967: L'Olympia, Paris.</li><li>14 November 1967: at the Royal Albert Hall in London; first gig of package tour with Pink Floyd, The Nice and others.</li><li>31 December 1967: at the Speakeasy in London. Jimi plays a 30-minute rendition of <em>Auld Lang Syne</em>.</li><li>12 March 1968: jam session with Jim Morrison, Buddy Miles and others at The Scene in NYC.</li><li>22 June 1968: at The Scene in NYC, Jimi jams with the original lineup of the Jeff Beck Group, which also includes Rod Stewart and Ron Wood.</li><li>14 September 1968: Hollywood Bowl, Los Angeles.</li><li>23 January 1969: two shows at the <em>Sportpalast</em> in Berlin, Germany.</li><li>18 May 1969: Madison Square Garden, NYC.</li><li>29 June 1969: Mile High Stadium, Denver – the last performance of the Jimi Hendrix Experience.</li><li>17 August 1969: <a href="https://www.youtube.com/watch?v=MwIymq0iTsw&t=14s&..." target="_blank">Woodstock</a>, New York.</li><li>30 August 1970: Isle of Wight Festival, England.</li><li>16 September 1970: jam with Eric Burdon's new band War at Ronnie Scott's in Soho, London. Jimi's last public performance.</li></ul><p>This bit of 'fan art' was created by Owen Powell, who points out that "it's not an academic study of Jimi Hendrix's movements, more a visualisation of the data mapped in sequential order." So if he flew home between gigs, that's not recorded here. <br></p><p><em>The Jimi Hendrix 'gigograph' reproduced with kind permission from Mr Powell. Check out his <a href="https://twitter.com/owenjpowell" target="_blank">twitter</a> and his <a href="https://owenpowell.wordpress.com/" target="_blank">website</a>.</em></p><p><strong>Strange Maps #1048</strong></p><p><strong></strong><em>Got a strange map? Let me know at </em><a href="mailto:email@example.com" style="">firstname.lastname@example.org</a>.<br></p>
Astronomers find these five chapters to be a handy way of conceiving the universe's incredibly long lifespan.
- We're in the middle, or thereabouts, of the universe's Stelliferous era.
- If you think there's a lot going on out there now, the first era's drama makes things these days look pretty calm.
- Scientists attempt to understand the past and present by bringing together the last couple of centuries' major schools of thought.
The 5 eras of the universe<p>There are many ways to consider and discuss the past, present, and future of the universe, but one in particular has caught the fancy of many astronomers. First published in 1999 in their book <a href="https://amzn.to/2wFQLiL" target="_blank"><em>The Five Ages of the Universe: Inside the Physics of Eternity</em></a>, <a href="https://en.wikipedia.org/wiki/Fred_Adams" target="_blank">Fred Adams</a> and <a href="https://en.wikipedia.org/wiki/Gregory_P._Laughlin" target="_blank">Gregory Laughlin</a> divided the universe's life story into five eras:</p><ul><li>Primordial era</li><li>Stellferous era</li><li>Degenerate era</li><li>Black Hole Era</li><li>Dark era</li></ul><p>The book was last updated according to current scientific understandings in 2013.</p><p>It's worth noting that not everyone is a subscriber to the book's structure. Popular astrophysics writer <a href="https://www.forbes.com/sites/ethansiegel/#30921c93683e" target="_blank">Ethan C. Siegel</a>, for example, published an article on <a href="https://www.forbes.com/sites/startswithabang/2019/07/26/we-have-already-entered-the-sixth-and-final-era-of-our-universe/#7072d52d4e5d" target="_blank"><em>Medium</em></a> last June called "We Have Already Entered The Sixth And Final Era Of Our Universe." Nonetheless, many astronomers find the quintet a useful way of discuss such an extraordinarily vast amount of time.</p>
The Primordial era<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkwMTEyMi9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyNjEzMjY1OX0.PRpvAoa99qwsDNprDme9tBWDim6mS7Mjx6IwF60fSN8/img.jpg?width=980" id="db4eb" class="rm-shortcode" data-rm-shortcode-id="0e568b0cc12ed624bb8d7e5ff45882bd" data-rm-shortcode-name="rebelmouse-image" />
Image source: Sagittarius Production/Shutterstock<p> This is where the universe begins, though what came before it and where it came from are certainly still up for discussion. It begins at the Big Bang about 13.8 billion years ago. </p><p> For the first little, and we mean <em>very</em> little, bit of time, spacetime and the laws of physics are thought not yet to have existed. That weird, unknowable interval is the <a href="https://www.universeadventure.org/eras/era1-plankepoch.htm" target="_blank">Planck Epoch</a> that lasted for 10<sup>-44</sup> seconds, or 10 million of a trillion of a trillion of a trillionth of a second. Much of what we currently believe about the Planck Epoch eras is theoretical, based largely on a hybrid of general-relativity and quantum theories called quantum gravity. And it's all subject to revision. </p><p> That having been said, within a second after the Big Bang finished Big Banging, inflation began, a sudden ballooning of the universe into 100 trillion trillion times its original size. </p><p> Within minutes, the plasma began cooling, and subatomic particles began to form and stick together. In the 20 minutes after the Big Bang, atoms started forming in the super-hot, fusion-fired universe. Cooling proceeded apace, leaving us with a universe containing mostly 75% hydrogen and 25% helium, similar to that we see in the Sun today. Electrons gobbled up photons, leaving the universe opaque. </p><p> About 380,000 years after the Big Bang, the universe had cooled enough that the first stable atoms capable of surviving began forming. With electrons thus occupied in atoms, photons were released as the background glow that astronomers detect today as cosmic background radiation. </p><p> Inflation is believed to have happened due to the remarkable overall consistency astronomers measure in cosmic background radiation. Astronomer <a href="https://www.youtube.com/watch?v=IGCVTSQw7WU" target="_blank">Phil Plait</a> suggests that inflation was like pulling on a bedsheet, suddenly pulling the universe's energy smooth. The smaller irregularities that survived eventually enlarged, pooling in denser areas of energy that served as seeds for star formation—their gravity pulled in dark matter and matter that eventually coalesced into the first stars. </p>
The Stelliferous era<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkwMTEzNy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxMjA0OTcwMn0.GVCCFbBSsPdA1kciHivFfWlegOfKfXUfEtFKEF3otQg/img.jpg?width=980" id="bc650" class="rm-shortcode" data-rm-shortcode-id="c8f86bf160ecdea6b330f818447393cd" data-rm-shortcode-name="rebelmouse-image" />
Image source: Casey Horner/unsplash<p>The era we know, the age of stars, in which most matter existing in the universe takes the form of stars and galaxies during this active period. </p><p>A star is formed when a gas pocket becomes denser and denser until it, and matter nearby, collapse in on itself, producing enough heat to trigger nuclear fusion in its core, the source of most of the universe's energy now. The first stars were immense, eventually exploding as supernovas, forming many more, smaller stars. These coalesced, thanks to gravity, into galaxies.</p><p>One axiom of the Stelliferous era is that the bigger the star, the more quickly it burns through its energy, and then dies, typically in just a couple of million years. Smaller stars that consume energy more slowly stay active longer. In any event, stars — and galaxies — are coming and going all the time in this era, burning out and colliding.</p><p>Scientists predict that our Milky Way galaxy, for example, will crash into and combine with the neighboring Andromeda galaxy in about 4 billion years to form a new one astronomers are calling the Milkomeda galaxy.</p><p>Our solar system may actually survive that merger, amazingly, but don't get too complacent. About a billion years later, the Sun will start running out of hydrogen and begin enlarging into its red giant phase, eventually subsuming Earth and its companions, before shrining down to a white dwarf star.</p>
The Degenerate era<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkwMTE1MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxNTk3NDQyN30.gy4__ALBQrdbdm-byW5gQoaGNvFTuxP5KLYxEMBImNc/img.jpg?width=980" id="77f72" class="rm-shortcode" data-rm-shortcode-id="08bb56ea9fde2cee02d63ed472d79ca3" data-rm-shortcode-name="rebelmouse-image" />
Image source: Diego Barucco/Shutterstock/Big Think<p>Next up is the Degenerate era, which will begin about 1 quintillion years after the Big Bang, and last until 1 duodecillion after it. This is the period during which the remains of stars we see today will dominate the universe. Were we to look up — we'll assuredly be outta here long before then — we'd see a much darker sky with just a handful of dim pinpoints of light remaining: <a href="https://earthsky.org/space/evaporating-giant-exoplanet-white-dwarf-star" target="_blank">white dwarfs</a>, <a href="https://earthsky.org/space/new-observations-where-stars-end-and-brown-dwarfs-begin" target="_blank">brown dwarfs</a>, and <a href="https://earthsky.org/astronomy-essentials/definition-what-is-a-neutron-star" target="_blank">neutron stars</a>. These"degenerate stars" are much cooler and less light-emitting than what we see up there now. Occasionally, star corpses will pair off into orbital death spirals that result in a brief flash of energy as they collide, and their combined mass may become low-wattage stars that will last for a little while in cosmic-timescale terms. But mostly the skies will be be bereft of light in the visible spectrum.</p><p>During this era, small brown dwarfs will wind up holding most of the available hydrogen, and black holes will grow and grow and grow, fed on stellar remains. With so little hydrogen around for the formation of new stars, the universe will grow duller and duller, colder and colder.</p><p>And then the protons, having been around since the beginning of the universe will start dying off, dissolving matter, leaving behind a universe of subatomic particles, unclaimed radiation…and black holes.</p>
The Black Hole era<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkwMTE2MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzMjE0OTQ2MX0.ifwOQJgU0uItiSRg9z8IxFD9jmfXlfrw6Jc1y-22FuQ/img.jpg?width=980" id="103ea" class="rm-shortcode" data-rm-shortcode-id="f0e6a71dacf95ee780dd7a1eadde288d" data-rm-shortcode-name="rebelmouse-image" />
Image source: Vadim Sadovski/Shutterstock/Big Think<p> For a considerable length of time, black holes will dominate the universe, pulling in what mass and energy still remain. </p><p> Eventually, though, black holes evaporate, albeit super-slowly, leaking small bits of their contents as they do. Plait estimates that a small black hole 50 times the mass of the sun would take about 10<sup>68</sup> years to dissipate. A massive one? A 1 followed by 92 zeros. </p><p> When a black hole finally drips to its last drop, a small pop of light occurs letting out some of the only remaining energy in the universe. At that point, at 10<sup>92</sup>, the universe will be pretty much history, containing only low-energy, very weak subatomic particles and photons. </p>
The Dark Era<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkwMTE5NC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0Mzg5OTEyMH0.AwiPRGJlGIcQjjSoRLi6V3g5klRYtxQJIpHFgZdZkuo/img.jpg?width=980" id="60c77" class="rm-shortcode" data-rm-shortcode-id="7a857fb7f0d85cf4a248dbb3350a6e1c" data-rm-shortcode-name="rebelmouse-image" />
Image source: Big Think<p>We can sum this up pretty easily. Lights out. Forever.</p>
Welcome to the world's newest motorsport: manned multicopter races that exceed speeds of 100 mph.
- Airspeeder is a company that aims to put on high-speed races featuring electric flying vehicles.
- The so-called Speeders are able to fly at speeds of up to 120 mph.
- The motorsport aims to help advance the electric vertical take-off and landing (eVTOL) sector, which could usher in the age of air taxis.
Credit: Airspeeder<p>To prevent crashes, Airspeeder is working with the companies Acronis and Teknov8 to develop "high-speed collision avoidance" systems for its Speeders.</p><p style="margin-left: 20px;">"As they compete, Speeders will utilise cutting-edge LiDAR and Machine Vision technology to ensure close but safe racing, with defined and digitally governed no-fly areas surrounding spectators and officials," Airspeeder wrote in a <a href="https://airspeeder.com/news/2020/9/7/airspeeder-worlds-first-flying-electric-car-racing-series-partners-with-cyber-protection-leader-acronis-34g4k" target="_blank">blog post</a>.</p>
Credit: Airspeeder<p>Beyond motorsports, Airspeeder hopes to help advance the electric vertical take-off and landing (eVTOL) sector. This sector is where companies like <a href="https://www.ainonline.com/aviation-news/business-aviation/2020-01-07/hyundai-and-uber-announce-evtol-air-taxi-partnership" target="_blank">Uber, Hyundai</a>, and Airbus are working to develop air taxis, which could someday propel the ridesharing industry into our skies. By 2040, the autonomous urban aircraft industry could be worth $1.5 trillion, according to a <a href="https://www.morganstanley.com/ideas/autonomous-aircraft" target="_blank">2019 report</a> from Morgan Stanley.</p><p>Still, many technical and regulatory hurdles remain. Matt Pearson, Airspeeder's founder and CEO, thinks the futuristic motorsport will help to not only speed up that process, but also pave the way for self-driving cars.</p>