Issue #24: Sky-High Dreams

Joby Aviation Charges Up with Hydrogen for Regional Flight

Joby Aviation, founded in 2009 by JoeBen Bevirt, has been at the forefront of the electric vertical takeoff and landing (eVTOL) revolution. Known for its sleek, all-electric air taxis designed for urban mobility, Joby has now set its sights on conquering longer distances with hydrogen power.

Key Points:

• Joby completed a 523-mile test flight with a hydrogen-electric prototype aircraft.

• The company aims to use hydrogen for longer-distance, regional flights.

• This technology could complement Joby's existing battery-powered eVTOLs for urban transport.

Company Background:

Joby Aviation has been a pioneer in the emerging urban air mobility market. The company went public via a SPAC merger in 2021, valuing it at $6.6 billion. Joby's primary focus has been developing all-electric air taxis capable of traveling up to 150 miles on a single charge, with plans to launch commercial passenger service in 2025. The company has partnerships with Toyota and Delta Air Lines, and has received airworthiness approval from the U.S. Air Force for its aircraft.

Analysis:

Joby's venture into hydrogen propulsion represents a significant pivot in the electric aviation sector. While their battery-powered eVTOLs target urban mobility with a 150-mile range, hydrogen opens up possibilities for regional travel, potentially disrupting traditional short-haul flights.

The use of hydrogen as a range extender is a game-changer. As CEO JoeBen Bevirt notes, "Hydrogen is three times lighter than jet fuel per unit of energy and 100 times lighter than today's batteries." This efficiency could make regional air travel more sustainable and economically viable.

However, challenges remain. The infrastructure for hydrogen refueling at airports is still in its infancy, and the production of green hydrogen needs to scale significantly to meet potential demand.

Could Joby's dual approach with battery and hydrogen technologies position them as the Tesla of the skies? How might this impact traditional airlines and airport infrastructure?

Vocabulary

💡Each edition we’ll bring you a new “Startup word” to help bolster your vocabulary and understanding of the subject!

"Product-Market Fit": noun /ˈprädəkt ˈmärkət fit/

Definition: The degree to which a product satisfies a strong market demand, typically indicated by rapid user growth and retention.

Why It Matters: Achieving product-market fit is a crucial milestone for startups. It signals that the company has developed a product that resonates with its target audience and solves a real problem, paving the way for scalable growth and potential profitability.

In Action: Consider Airbnb's early days. The company struggled until they focused on New York City during convention season, offering an affordable alternative to overbooked hotels. This pivot helped them find their initial product-market fit, leading to explosive growth. Airbnb recognized a strong market need (affordable, unique accommodation options) and tailored their product to meet it perfectly.

Quick Bites

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Startup Shutdown Of The Day :(

A Collaboration Giant Bows Out

InVision, the design collaboration platform that revolutionized how designers work, has announced it will discontinue its services by the end of 2024. This marks the end of a 12-year journey that transformed the design industry.

Key Points:

• InVision's design collaboration services, including prototypes and DSM, will cease operations at the end of 2024.

• Freehand, InVision's visual collaboration product, was acquired by Miro earlier this fall.

• Enterprise customers will be guided towards alternative solutions.

• Self-serve customers can continue using InVision until the end of 2024 on monthly subscriptions.

Analysis:

InVision's closure reflects the highly competitive nature of the design tool market and the rapid evolution of the industry. The rise of integrated platforms like Figma, Adobe XD, and Sketch has reshaped the landscape, challenging specialized tools to adapt or exit.

The acquisition of Freehand by Miro suggests that while InVision is shutting down, parts of its innovative spirit will continue to influence the industry. This transition raises important questions about the future of specialized design collaboration tools in an era of comprehensive, end-to-end platforms.

How will this shift impact the broader SaaS landscape, particularly for niche tools competing against all-in-one solutions? What lessons can other startups learn from InVision's journey?