Key insights

• Technical Achievements and Going Public

  • 🔧 Embark has solved major technical problems in self-driving truck technology, overcoming challenges such as operating in adverse weather conditions and adapting to changes in the map.
  • 📈 The company is going public through a SPAC merger with Northern Genesis Acquisition Corp. II, expecting to raise up to $600 million, emphasizing the importance of challenging problems and taking incremental steps to achieve success in hard tech startups.

• Challenges and Success Factors

  • 🎯 The journey of building Embark involved staying focused, adapting to change, attracting top talent, and proving their capabilities through practical demonstrations.
  • 🏆 Embark's success was driven by its small but high-quality team, a compelling vision, and an exciting story. The team went through challenging times, pivoted their business focus, and built a culture of humility and respect.

• Y Combinator Experience and Funding

  • 💰 The founders felt stressed but prepared for their YC interview, had a successful Demo Day, and raised a seed round at an exciting valuation.
  • 📈 After going through the Y Combinator program, the speaker gained valuable experience by taking the product to market, accessing a powerful network, and finding validation and confidence from knowledgeable backers.

• Transition and Business Mindset

  • 🔄 The founders transitioned from building fun engineering projects without a clear business plan to developing a business mindset during the YC program, emphasizing solving tractable problems and refining their business strategy based on user feedback.
  • 💼 Pitched the idea of building an electric shuttle for campuses and military bases, learning important lessons about technology solutions and user feedback during YC program.

• Early Beginnings and Shift in Focus

  • ⚙️ Embark Trucks founders originated from the University of Waterloo with a passion for robotics and technology, initially focusing on building a self-driving golf cart.
  • 🚛 The initial focus on self-driving shuttles for universities shifted to self-driving trucks due to limited demand, driven by a mining company's interest and the need for a more compelling business case.

Q&A

• How is Embark Trucks planning to go public?

  Embark Trucks is preparing to go public through a SPAC merger with Northern Genesis Acquisition Corp. II, expecting to raise up to $600 million. The founders emphasize the importance of tackling difficult problems and taking incremental steps to achieve success.

• What challenges did the founders face in building Embark Trucks?

  The challenges included staying focused, adapting to change, attracting top talent, proving capabilities through practical demonstrations, and overcoming skepticism around young founders' credibility.

• What was the role of Y Combinator (YC) in Embark Trucks' journey?

  YC played a significant role in guiding the founders from building fun engineering projects to transitioning into a business mindset, accessing a powerful network, finding validation and confidence, and making important industry-focused decisions.

• How did the company shift its focus from self-driving shuttles to self-driving trucks?

  The shift was driven by limited demand for self-driving shuttles, an interest from a mining company, and the need for a more compelling business case. YC played a role in the decision-making process.

• When does Embark Trucks plan to launch its first driverless freight operation?

  Embark Trucks plans to launch its first driverless freight operation in 2023.

• What is the background of Embark Trucks founders?

  The founders started with a passion for robotics and technology at the University of Waterloo, initially building fun engineering projects and later transitioning into a business mindset during the YC program.

• 00:10 Two founders from Embark Trucks share their journey from building a self-driving golf cart to commercializing self-driving trucks. They have 200 employees and plan to launch their first driverless freight operation in 2023. The company originated from a passion for robotics and building technology at the University of Waterloo.
• 06:11 The founders initially built fun engineering projects without a clear business plan. Their journey from building cool stuff to transitioning into a business mindset led them to develop the self-driving truck concept, with a focus on solving tractable problems. Their experience at YC reinforced the importance of building something people really want and refining their business strategy based on user feedback.
• 12:25 The initial focus on self-driving shuttles for universities shifted to self-driving trucks due to limited demand. The shift was driven by a mining company's interest and the need for a more compelling business case. YC played a role in the decision-making process.
• 18:27 The founders felt stressed but prepared for their YC interview, had a successful Demo Day, and raised a seed round at an exciting valuation.
• 24:30 After going through the Y Combinator program, the speaker gained valuable experience by taking the product to market, accessing a powerful network, and finding validation and confidence from knowledgeable backers. The company shifted focus to trucking after realizing the potential in the industry and the opportunity for innovation.
• 31:05 The journey of building Embark, a self-driving truck company, involved staying focused, adapting to change, attracting top talent, and proving their capabilities through practical demonstrations.
• 36:58 The success of a startup is based on the team, vision, and exciting story. Embark's success was driven by its small but high-quality team, a compelling vision, and an exciting story. The team went through challenging times, pivoted their business focus, and built a culture of humility and respect.
• 42:57 Embark has solved major technical problems in self-driving truck technology and is preparing to go public through a SPAC merger, raising up to $600 million. The founders emphasize the importance of tackling difficult problems and taking incremental steps to achieve success in hard tech startups.