Existing markets: For the existing markets I terms of products and services would be to try and make self driving cars a reality as there isn't much left to do from there.
All three interviews didn't know what know what else to make other than self driving cars while one said maybe to do more safety features. When asked about what I think customer might want next they agreed that they would want the ability to have self driving cars.
What makes most sense for my venture would be to make the technology for the self driving cars so that would be around the same area as the product we made now. Since after self driving cars are made there would be nothing else to make and licensing the same technology would mean more money for us. The other thing would make a system to improve traffic for self driving cars after we made them
The second path would be to make a system that would regulate the traffic of the self driving cars so there wouldn't be a need for them to stop. After making this product we could sell the technology to the government so they could regulate traffic or license it to private companies. The last thing is that the venture could do nothing and make money from the licenses.
New Market: Air vehicles
Our concept might create value since the safety feature could also be applied to helicopters and airplanes if two are heading towards each other and want to safely fly pass each other. The other thing is if we created self driving cars then we can make self flying air vehicles.
The two people I interviewed said to find ways to make planes much safer in case crashes happen if a freak accident occurs with self driving planes. I didn't have any more ideas to I think customers would want and again I could always leave and retire with the money from licenses. They said that if it was a quick make the technology and license it is to hire a small team so I wouldn't have to spend much money on salaries.
What I learned about this market is that the same technologies can also apply to air vehicles. Since air vehicles are used a lot as well the technology could be used to increase the efficiency of air travel. What surprised me the most was how easily the technology could be altered for planes.
My assumptions were correct as I realized that I was able to alter the technology and I would be able to make it able to integrate with air vehicles, The new market however doesn't seem to be as attractive since airplanes and helicopters aren't being produced at the same rate as cars would. However to counteract that the price or rate of the profits from the license could be higher.
I really love how creative your new market, and I think that it would definitely do a lot to help those who are involved with controlling air traffic. I think that your idea is very good, however, you are going to be entering into a highly saturated market with big names such as Elon Musk directly competing against you. If you persist though, I think that this could be highly successful!
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