Internet technology companies are dominated by the engineering ethos, raised to be a culture of its own in the bay area startup scene. Building great product is key.
The car industry, by contrast, is heavily influenced by the auto sales culture, in part because of stubborn dealer economics, regulations, and Detroit's way of working.
As cars become technology platforms, boards and corporate leaders will face some tough decisions of how to adapt traditional car culture to one where tech rules the road. There are major differences that will impact a car company's brand, consumer loyalty, and access to talent.
With $450M invested across 36 deals to date, 2016 is off to an even hotter start than last year, with a funding total already just shy of 2015′s full-year figure of $478M. At their current run rates, both deals and dollars to private auto tech companies are on track for fresh annual highs. If dollar funding in particular sustains its momentum, it will finally eclipse the mark set in 2013 (which was largely attributable to a $400M financing to Mobileye).