Everyone, thanks, and welcome to the studio in New York City, live for our inaugural Luminar Studio Day. Awesome to see some familiar faces as well, so thanks for getting settled in. With that, you know, I think too often we see technology designed for technology's sake, and that was some of the inspiration for this, to really be able to take into account a holistic design and use case. That's what we've been starting to change when it comes to autonomy. Thought it'd be great to take an opportunity to highlight that. Today we're going to showcase three things. One, what's behind me. The first, fully integrated consumer vehicle with Iris, Luminar's autonomous sensing solution for series production. Two, what we've accomplished with Iris, culminating with some live drives to the public throughout New York City today here. And three, A glimpse into the future with a Luminar robotaxi and trucking concept design we're calling Blade, looking to inspire automakers for the next generation of vehicles when you design a vehicle from the ground up with Luminar. Today we'll also be kicking off a global customer roadshow to demonstrate the power and potential of Iris beyond just the OEM launch partners that we've been working with. I'm going to start by zooming out just a bit here and kind of go back to our core mission. Why are we doing this? It starts with safety. It's about making autonomy safe and ubiquitous. Substantially enhance vehicle safety, enable superhuman-like capabilities, while at the same time move toward the goal to ultimately achieve the holy grail of becoming standardized on vehicles and enabling autonomy as well. Some recent data released, a recap of 2020, does not paint a bright picture in the world of safety. With likely well over a million vehicle deaths globally, and actually nearly 40,000 in the U.S. alone, according to NHTSA data gathered so far, that is a 7.2% increase from last year, or I should say the prior year in 2019. Despite the pandemic and all the challenges it had, it has only gone up. It actually leads to even a shocking 24% increase in fatalities per mile when taking into account, you know, for a period of time reduced mileage traveled by vehicles during the pandemic. This is not even getting into all the serious injuries and tens of millions of those that happen, and vehicle damage that is taken into account at a rate orders of magnitude higher. These facts alongside real-world testing scenarios show that existing active safety systems are woefully inadequate, and the opportunity is clear. You know, we see a vision for a new safety standard for transportation, and that's been the inspiration for what we've been doing all along. The approach to the self-driving problem and ultimately building a safe autonomous vehicle is diverted among autonomous vehicle companies. Almost all these companies have chosen to focus their efforts on the software side and generally for urban environments, while using off-the-shelf hardware or primitive developments, which are not anywhere close to truly meeting the performance, scalability, auto-grade, economic requirements that are needed for a production vehicle, much less something that someone would want to buy for that matter. Instead, we really chose to focus on arguably the most difficult part of the autonomous challenge, which starts with the LiDAR. It's the key enabling sensing technology to allow autonomy to be possible and make these proactive safety systems take safety up to the next level in terms of what we've been developing. Our bet turned out to be spot on. We progressed over nearly the past decade going over a number of different iterations of product, maturing the design and getting to a stage of where you could go into series production. It takes a lot of work. It's taken, you know, hundreds of specialized engineers, hundreds of millions of dollars investment, and just a lot of sheer willpower and blood, sweat, and tears to make it happen. That's what we amounted to with Iris here. So Iris is really the first autonomous sensing solution for series production. If you noticed over the different product iterations, you know, we actually even got it to a little bit of a slimmer form factor. If you go back just a couple of slides there, in fact, one more. What you can see is that it's actually something that's meant to be integrated into the roof line as opposed to just a box that's there, you know, that you're mounting on a rack of a vehicle. That's what you can see. You can go back and then one more.So Iris is the foundation to enabling autonomy across series production, across consumer vehicles, trucking, and robotaxis, these three main verticals that we've been targeting. Having that laser-like focus has allowed us to solve one of the most complex and challenging hardware problems early on and positioned us to lead the autonomous industry today, securing partnerships with some of the biggest names in transportation, working holistically with over 50 partners today. How did we do this? What are the steps that led us up to this point with Iris? It starts back a number of years ago, kind of going back to the fundamental core component innovation of building the core technology, laser receiver, scanning mechanism, processing electronics. You know, we build our own chips, we build all this stuff from the ground up. Going to the component sourcing side in that phase, we had to actually secure the supply chain. See, a lot of this stuff does not exist. It cannot happen overnight. You have to really plan well in advance, go through the LiDAR development process. You know, we've gone through a number of major iterations of product, you know, all the way to spec validations. Okay, after you develop a LiDAR, does it actually meet the spec requirements that are needed to solve the holistic problem? You have to go through the industrialization phases for that product, which, you know, maybe you guys have heard some terms like B, C, D samples that we've used that are used in the automotive industry. We've gone through most of that phase, you know, and finalizing that work. While at the same time, what we've done to move towards the series production phase, you may have seen the recent announcement that we had with Celestica and Fabrinet as our series production contract manufacturing partners, where we've actually been able to produce the first unit rolling off the line down in Monterrey, Mexico, the series production facility location. That's what we had to go through. When it comes to autonomy and safety, the whole point is that we don't have to wait 10 or 20 years in terms of what's ahead. This is something that can be done really just around the corner with Iris having a start of production just before the, actually before the end of 2022. That's where we get to scale up with our partners like the Volvos and SAICs of this world to make this happen. What does all this mean at the end of the day from a design standpoint and integration standpoint? If you take a look at the autonomous vehicles of today, this is what you think of, this is what you see, this is what it looks like. This is where we've completely transformed and revolutionized what it means to have an autonomous vehicle. That is what you're here to see today. Go to the next slide. Yeah, Volvo, SAIC, what we just announced with Pony, something that's cleanly integrated into the vehicle and something that can make its way into production, something that we're changing the world with. With that, I would love to welcome onto the stage Jason Wojack, our SVP of Product Development, who really helped spearhead a lot of this progress with the team. Thank you. All right, thanks, Austin. Good morning. Really happy to have you here today. Really proud of the progress that the team has made with Iris to date. The continued evolution of the specs and the development of the sensor really speaks to our continued innovation in this space. The specs are not the only thing that's important for developing this sensor. Car designers do not necessarily want to just consider the trade-off between integrating these sensors and actually the holistic design and styling of the car. We took that into account upfront with Iris. We first wanted to look at what's the most important thing for our sensor. It's the range and resolution that we provide and our ability to see at a very long distance, to see the small object in the road and take advantage of that. That's what's going to give end consumers a different driving experience. It's what auto manufacturers want to provide. In designing Iris, the first thing we looked at was where is it going to be integrated into the vehicle? In order to get a proper view and a proper point of view, you really need to be at the top of the vehicle. In order to be at the top of the vehicle, you really need to integrate into the roof line. If you're going to be at the roof line, the design of the sensor has to be different than any other type of LiDAR sensor that's been designed to date. Hence, we made our sensor thin so it could be integrated into the roof line. That's super important because not only does it allow the designers to style the sensor into the car, but it also keeps the sensor below the overall height of the apex of the roof so it doesn't affect the actual aerodynamics or the drag on the car. As Austin mentioned up to this point, autonomous sensors have all kind of just been bolted onto cars in this kind of Frankenstein-like manner. Our goal is to change that and change that quickly. There's a parallel to another component that's kind of been integrated into vehicles, and that's the headlight. In the past, initially, the headlight was, you know, this separate component that was bolted on and it was independent of kind of the form of the vehicle. Over time, as we moved on to the middle of the century, the headlight was integrated into the form of the vehicle, but it wasn't really a design element. Now today, the headlight has kind of become a real design element integrated perfectly into the form. We see that that's the direction that we're going to head with our sensors today. It's going to become a design element, not just necessarily bolted onto the vehicle. Over time, we've gone kind of from this robotaxi Frankenstein look, and we're going to progress it very quickly into seamlessly integrating so that end consumers, designers can take autonomous sensors and integrate them holistically into vehicles. Our partners like SAIC, Volvo, Pony are already starting to show this. It's already starting to come into form. They're showing that form and function aren't necessarily mutually exclusive for integrating autonomous sensors. That consumers can get a beautiful car and they can get the experiences that we're trying to provide. So Austin's going to come back up on stage and he's going to progress that vision of where we're trying to go with this. All right. Thank you, Jason. This is a great, great overview and deep dive. And, you know, as you mentioned, we're progressing faster on technology than ever before. And, you know, I think a lot of folks originally assumed this would be an overnight shift, you know, into maybe you've seen some of the recent form factors that folks have unveiled of kind of the toaster-like vision for robotaxis. And, you know, I think there's a lot of potential for that over the long term. But the question is, is that what can we do over the course of the next decade when you integrate vehicle design with autonomous technology from the ground up? You know, because Iris isn't ultimately just for consumer vehicles. It's extending this design thinking to commercial trucks and robotaxis as well. So today, we're unveiling Blade. Blade is the answer to the question of what's possible when combining autonomous technology and a holistic vehicle from the ground up hand in hand. It's a first-ever concept and a powerful design expression of what the future can hold when seamlessly integrated into cars, trucks, and robotaxis. With that, here it is. It creates a foundation and a design direction for new vehicle architecture that automakers have the ability to incorporate into vehicle development programs from the onset. What you can see on screen here with Blade is the future for what we could see with robotaxis as well as trucks. Both designs take into account the unique use case requirements that we have, but let's start out with the robotaxi Blade. This is a sleek, roomy, inspiring car design for autonomous operations on highways and urban environments. The concept really features a golden blade, like a halo that runs across the crown of the vehicle. This is something that can be built for consumers as well as robotaxi use cases with a four-sensor configuration around the vehicle for a full 360 view and perspective, and something that gives you safe operation in line of sight all around the vehicle. That is the vision of the future when it comes down to that for consumer vehicles and as it blurs the lines with robotaxis. Next up, we have a commercial truck. You can see that same kind of golden halo that features a three-sensor configuration around the vehicle, giving nearly 360 degrees of field of view. One of the nice things with this is that Iris actually has up to a max range of 600 meters seeing out into the distance there. Both forward as well as backwards as part of this design, you get actually a 1.2 km sensing and safety envelope around the vehicle, which is critical for trucks and having that long range vision. In both cases, the Blade and that HALO is the signature feature around the roof, which houses LiDAR sensing systems and other sensing technologies. This concept that we have, or both of these concepts, were developed in collaboration with New Deal Design, an acclaimed technology design firm. I'd love to be able to invite Gadi Amit, their President, up to the stage to say a few words. Thank you. Good morning, everyone. The Blade Taxi is a very unique vehicle from inception. We're dealing with a vehicle that is thought through from a digital perspective with very sharp, airy lines that has all the sensors incorporated into the roof line. Now the roof is no longer just a structure. It is actually the thinking head of the car. It is incorporating all the sensors, all the compute, all the subsystems. This is a thought that will go through both Blade concepts. Part of the notion of the taxi is the ability to deliver an experience that is somewhat romantic, like taxis used to be. It used to take you places. You used to be excited about it. Today, obviously, we're all familiar with this experience. It's not what it used to be. For us, we want to think progressively about the future. We want to take the digital revolution and make it into an experience that the end consumer, the common person, will actually be excited about. Part of that are the lines of the Blade Taxi. We are incorporating movement. We are incorporating excitement. We are incorporating aerodynamics, and we are incorporating the sense of maybe an airline seat that you're excited to take because you're going on a vacation. This comes through the whole 360 view of the car. Obviously, we have a very prominent feature in the back that suggests speed, efficiency, and also suggests that this vehicle is no longer an urban vehicle. This is a vehicle that is just as capable to go on a highway and to speed up to 60 mi and 70 mi an hour because the sensor technology enables that. It's no longer something that is maybe a souped-up golf cart. It's a lot more than that. It's an aspiring vehicle that you want to have and you want to travel with. Now, inside, there is an enormous amount of space. The concept itself is not much larger than this car. It's about 183 in long, but it has a 122-in wheelbase with a giant roomy space inside. Again, the cues that we took there are coming from airline. It's like your first-class seat that you want to take in order to reach your destination. Now, when we're thinking about the next generation of vehicle design, one of the fundamental elements is to incorporate digital thinking through and through. We want to take the autonomous digital technology and embed it into the thinking and the lines behind this design. In this case, you see crisp lines. You see lines with motion, with progression forward. They are also incorporating a lot of interaction features, illuminations, and obviously, what Austin mentioned, this HALO band that has all the thinking technology in it. Now, moving forward with the same type of thought, we are expressing Blade onto trucks. In this case, we took a slightly different approach. We are taking a module, a very thin Blade module that is coming as a unit, and we are inserting it into existing truck design and trucks that are now being designed. Basically, the manufacturer could approach Luminar and get a kit, if you wish, ready to go and be inserted into their vehicle design. As mentioned before, this slim Blade technology is very unique to Luminar, and it allows us to do a lot of beautiful things in terms of incorporating ventilation, incorporating lights, and also giving us a 360-degree view behind the truck without being too obtrusive or disruptive to the vehicle design itself. The most important thing with Blade, and this is both the taxi and the truck, we are creating an icon, an icon of progressive AI technology. This is a very thin, very deliberate strip that has all the sensors built in, and it's no longer a separate part of the vehicle. It's an integral part not only of the vehicle design, but also of the vehicle architecture right from inception. Austin. Okay, these are the two Blade concepts. I hope you guys enjoy it. I wonder if Austin has some closing thoughts. All right. Thanks everyone for tuning in for this. This has been great. We are going to actually get started on Q&A in just a moment for everyone. This is something that we are able to show off today that is frankly unlike anything we have done before and hopefully was able to help provide some inspiration, thought leadership, and continue to extend that. It goes to show more than anything, you know, a lot of people historically have thought about Luminar in the context of a LiDAR company, in the context of the LiDAR that we built. That is what we have been able to demonstrate leadership with. We have been able to win over the industry, but we have become a lot more than that. That is where, okay, you might ask, why now? Why are you showing off some of this stuff? A couple of things. One is that when it comes to consumer vehicles, we've been able to already demonstrate a strong leadership position. You can see some of the examples of what we have here today with the clean integration. At the same time, a lot of automakers are looking, what's the next generation vehicle design? You know, these things don't happen overnight. All the vehicles that we're being designed into today, those started development years ago, as many as, you know, five years ago plus. For the next generation of vehicles to ultimately come about, that's where that development starts today. Hopefully, this has been a helpful inspiration to the broader landscape for what's to come and what happens when you have Luminar inside. So excited to be able to kick off some of the Q&A as we continue to advance the state of the art and look forward to being able to do some live drives with the team, with our demonstration vehicle and what we can show off from an elegant design perspective, you know, because at the end of the day, design does matter. I thank you to everyone. I thank you to the design team for this as well. I thank you to the Luminar team for being able to pull this event off here in New York. It's awesome to get back into the game, to be able to do some live events. This will only be the first of many to come. Thank you. Let's do some Q&A. Come on up. All right. If you are joining us online, you can submit questions via the Zoom webcast. For those in the room, we do have microphones placed back here, one there and one there. Please bring some questions forward for this team here. Let's dig in. All right, first question. I think this is for Austin. Are you going to make these? No, we're not making a robotaxi. This is meant for a broader inspiration from a thought leadership perspective. For the trucking design, we'll see. We'll see. Okay. And what about timeline? Not Luminar specific, but with OEMs, trucking OEMs and robotaxi companies, what do you see as kind of the timeline? You just mentioned at the end there that, you know, design cycles are often five, seven years. Are we going to need to wait five, seven years to see these implemented? I think for the robotaxi design, in terms of the timeline for what is ahead there, yeah, I think that's the kind of timeline that you can be thinking about when it comes down to it. It's not decades. It's not right around the corner. Again, trucking design is a little bit of a different story. We'll have more on that front later. Great. Continuing on the thread of design, this is a question for Gadi. As an industrial designer, do you believe that automotive designers are looking forward to integrating these sensors? Is there tension there? It's an interesting question. I've been dealing with digital technology for nearly 30 years. I know that automotive design has been somewhat of an island to itself. I know in the last few years, they've been opening up and understanding that digital is a completely new domain and requires new thinking, system thinking about the vehicle right from the architecture level. The overall experience of traveling starts maybe with your mobile phone. These are really fundamental changes. What I've been noticing is an openness that maybe is about to manifest itself only in a few years. There's definitely openness to new types of thinking and new types of design or design language being incorporated into vehicle design. Wojack, any thoughts on that? I know you're working a lot with these teams and that tension exists. Yeah, I think that designers, there is a dynamic tension, no question. That is why we took that into account upfront, what needed to be done, the location it needed to be referenced into, and really challenging the designers and challenging the engineers of how to do this in the best way. I think that vision that was put forward today really sets an example of what can be done and how it can be done well. We are already progressing toward that. Great. We saw the Blade. I think, Gadi, you had mentioned that this now, you know, the roof actually kind of becomes the brain of the vehicle so Austin, a question for you. When you say sensors are built into that Blade piece there, does that include cameras, radars, high-performance compute? What's all in there? Yeah, all of the above, you know, when it comes down to it. I mean, the compute can sort of be in different locations of the vehicle, but it can be accommodated in the roof as well. When we're talking LiDAR, cameras, radar, of course, the LiDAR is the core foundation of why it's there and the design for that, since that's the foundational sensing system that gives you the ground truth view of everything going on around you. That said, it is meant to holistically accommodate everything as part of the design. Great. This is a good question for Wojack. How does Iris compare to the Hydra? We saw kind of the three different sensors, the evolution for Luminar. Moving over to Iris, what is the difference? Hydra was our research and development platform. It was designed to really showcase what our tech is capable of and give, you know, development fleets a platform to develop on. Iris actually improves on the capability, but it's also designed to be a series production product. It meets all the temperature specifications, the shock and vibration, can be fully integrated into a vehicle. Great. And follow up on that. You mentioned we're now working out of Celestica and getting sensors up and running. Is the sensor we're going to see in the vehicle today, for those of us in the room, did that come from the Mexico plant? As a follow-up, what is the next critical phase for the development of Iris? Yeah, so we've taken the sensors that we've built in our NPI line that we have actually in Orlando. We've transferred that line down to our Celestica facility. We're developing the sensors there. We're progressing our way into the C samples, which is, you know, a fully productionized version of the sensor off of production tools through production processes. That's the sensor that you'll see today is that we're meeting those automotive specifications and processes. Great. All right. Can you give broad costs for the different applications? and Will Blade help reduce the cost of autonomy and How fast do we see those costs coming down? That's a tough one. I give that one to you, Austin. Yeah, so when it comes to economics for this, I mean, the most stringent use case is for consumer vehicles because that cost is directly passed on to the consumer on that side. That's the core driver behind the economics. For robotaxis and for trucking, it's a little bit less sensitive because you're effectively displacing the cost of the driver or, you know, a bunch of other factors, you know, that relate to efficiency and continuous operation, as well as, you know, the improved insurance rates from the safety improvements. There's a bunch of different things that come into play. It's a little bit less cost sensitive. At the same time, it doesn't excuse the fact that you still need to have an auto-grade series production product and something that actually can be designed well into a vehicle. Ultimately, obviously, you know, trucking operators, robotaxi operators, you know, these guys are going to be economic animals at the end of the day. Cost does matter to a certain point. Part of the whole value of what we have and what we've been able to bring to the table is we get to leverage the same Iris, the same product that's in this car here today that we're driving around live, the same one that's going into the series production consumer vehicles is the same product that goes into trucks series production that can go into robotaxis for series production that go into all these things. We get to leverage the economies of scale across the existing multi-trillion dollar consumer vehicle industry to be able to bring product into these other verticals and domains. That's what makes all the difference. That is why Luminar and what we have done with our strategy is to uniquely position us to do exactly that. Great. This is about weather. I'm going to give this to Jason. Are weather conditions taken into consideration? Is there any degradation that takes place with weather conditions? A good follow-up on the back of that as well is, in designing Blade and having all the sensor, you know, suite in that kind of, you know, band, does that also help? Yeah, so yeah, weather was taken into account. A lot of the research and development that we did on our original Hydra sensor, we actually made some design changes specifically for weather. In terms of, you know, rain or snow and other aerosols that are kind of in the air, they do not really affect the performance of our sensor. As you look at things like bugs or other, you know, obscurance that could hit the sensor, we actually made a redundancy in terms of the field coverage that we have for our sensor, which allows us to still see the full field of view, even if a bug or something does hit the sensor, give us time to clean that bug off and never really lose the full field of view coverage, which is very unique to our sensor. We've taken those learnings and actually progressed the sensor. Once it's all in this, you know, Blade design, is cleaning easier or how does that help as well? Yeah, so the Blade design will allow you to, you know, centralize that cleaning system, right? It won't have to be distributed around the vehicle. Yes, it does help with that. Great. By the way, a couple of journalists who took it to the cars actually yesterday got to see it in rainy weather there too. Goes to show it did actually, I mean, you see what they write about that. It achieves an almost surprising level of performance even in tough conditions. Yeah. All right. This question is for Gadi. Do you think that the public is ready for autonomous vehicles or when they will be ready? Or when do you think the public will be ready? What is being done to address safety? Do you think the industry is going far enough? That's a very complicated question. Obviously, we are changing culture, the culture of driving, and it takes time. I do think that the first breakthrough product will change perception very much. I would say that this industry is waiting for its iPhone moment. Suddenly everything comes together and it's clear and nobody goes back anymore. It's clear that this is a complicated product. Very sophisticated technologies need to be seamlessly integrated. I do think that the public knows when things are right and at the same time know when things are not quite right. We are still in the not quite right moment. I hope that with these technologies and these levels of design integrations that we've seen today, we are moving towards this iPhone moment. When it arrives, questions will be considered moot. Interesting. All right. Austin, what makes your technology better than other LiDAR companies? Yeah, I think virtual, hopefully, as we only reinforced today, we've become a lot more than just a LiDAR company, so to say, as part of the holistic vision between our hardware, our software, our vision for the future, the work that we do with OEMs and beyond. At the same time, what's the foundation for why we exist, why we're here? It did start with the LiDAR. That was the approach that we took. At the most fundamental level, we built out all the individual components from scratch rather than leveraging off-the-shelf parts to assemble a system. This allowed us to be able to achieve what would otherwise be an unprecedented level of performance, capability, scalability, manufacturability, economics of what's needed in the first sensing system that actually meets all those requirements. As you can see, we've gone through multiple iterations and generations to be able to get there. You know, product maturity and design and our work with OEMs is second to none as really the only one that's been working with OEMs for autonomous series production programs, at least in an incredible capacity. That's where we obviously got a lot of work left to do with our OEM partners. Just as with the hardware, there's still work left to do with the software, you know, what the OEMs are developing. That's what we see coming around the corner where all the puzzle pieces are falling into place for these production programs. Again, getting to leverage those programs for all of these other areas and the things that we're doing across trucking and ultimately robotaxis and these other things is critical because if you just try to address it in a vacuum, it's not going to work. We really completely positioned ourselves onto a completely different level from a technology standpoint. I mean, heck, we actually just got issued our hundredth patent, you know, which is a pretty awesome feat. You know, we have over 200 applications at this point. It's more than, you know, pretty much all these other folks in the industry combined when it comes to LiDAR. That just goes to show our continued technology leadership. We don't stop of what's here today. That is where hopefully we're able to show a vision and inspiration for everyone here and also our OEM partners of what can be done. Again, you know, we aren't necessarily going to be, you know, we're not going to be building a robotaxi ourselves right now right off the bat. People are in the works of starting to design these systems. We really think that this is going to provide some great inspiration to everyone and an open concept. Great. Let's nerd out a little bit here. Is there a physics limitation to the dimensions of a LiDAR sensor, or do you expect the sensor packaging miniaturization to continue over time? I challenge Wojack with that question. That's a good question, actually. Is there a physics limitation? No, I think it's, and within our roadmap, within our R&D pipeline, we actually have, you know, technologies in process that are going to dramatically reduce the size of the sensor. Of course, there's a physics limitation, but I think it's more a limitation on your imagination and how to implement those changes. The sensor will get smaller and smaller over time and become easier and easier to integrate. No question about it. We already have the vision for that internally. One thing to note as well is that, you know, part of the design in terms of what we've been able to do in transition is, and what enables us to actually have something that is scalable and can even push, you know, we're always the one continuing to push the limits of what's possible. It is this architecture that we have where we don't have to have a huge array of lasers and receivers like historical LiDAR designs. The performance is proportionate to how many lasers and receivers you put in your device. You know, for like an equivalent device in the market today for like a $100,000 system, it requires 128 lasers, 128 receivers, you know, when we're talking the same order of performance as, you know, what you're talking about here, actually this does even better in many cases. That's where it's taking these, you know, $100,000, $1,000 systems, bringing it to a $1,000 system that can be cleanly integrated into a vehicle. At the same time, from an architectural perspective, I mean, we basically, well, let's put it this way. Under the current regime of technology for everything that's known out there and all the existing technologies out there, this is pretty much the most optimized form factor you could possibly have. Like it's already pushing the limits of physics in so many dimensions. We're trying to have debates of how we work around the speed of light and all of these other things here. You know, those are some other challenges. With that, we have more downstream that we're not ready to talk about yet here for future iterations of this that breaks that current regime of some of the trade-offs that are had in a LiDAR design. The reality is that today, what matters, okay, what matters is having something that meets the performance requirements, that meets the safety requirements, that you can actually produce and that is actually going to go into vehicles. Because right now, everything is kind of a hop, skip, and a dream, and all the less the multi-trillion dollar challenge that that hop, skip, and a dream is trying to solve for. This is where we're trying to take this leadership to a next level, work with the OEMs, make this real. That's what's here. That's what's happening with the next-gen designs. Already be leapfrogging to what's ahead beyond that. Just to add to that briefly, I mean, what we already see happening with the partners that are integrating this is the user experiences they're already starting to enable. As Gadi kind of mentioned, when are people going to have that moment? As they develop these features and we start to see them come to fruition, people will have that aha moment, like, wow, I didn't realize my car could actually do this, right? It is coming. That's great. I think we've got just one minute left and no questions from the room. Everyone's shy today. I think you're waiting for us to wrap it up so you can ask. Yeah, grab the microphone right there. Thank you. Hey, Austin. Just curious. I mean, when you start thinking about the Blade, if you're integrating all different sensors into it, if that's kind of the position you're able to take, how do you think about differentiation at that point? What does it really, if you're then trying to differentiate yourself, how do you think about investments? You have to become an expert almost in every sensor technology. Does the investment cycle or the investment trajectory really change on account of that? Yeah, yeah. When it comes to this, we really think from a leadership perspective, a design perspective, an inspiration perspective, how do we maintain that? This is where we're kicking off this, what we think of as a new trend for this. It's designed specifically for Luminar and for Iris in terms of what was accommodated. If you notice, we didn't have any spinning systems, bolt-on systems, anything there. It's all cleanly integrated as part of this. The reality is that you do have to work with the respective, you know, autonomous provider and company years in advance if you want to actually successfully design these things. It's very customized in that respect, particularly when it comes to LiDAR. That's kind of the quick view there. When it comes to the OEM relationships that we have and that we've built and what we're pioneering, I think that's really been second to none and gives us a unique opportunity to be able, in working with these OEMs, to be able to either further solidify and ultimately achieve a holy grail that the industry would see, which is standardization of a technology on a given vehicle. That's what's going to make all the difference. We're going to continue to pioneer this and continue to lead. All right. With that, we are going to do some drives. Thank you for joining us today, everyone. We will see you again at the next Studio Day.