CEO of Ford Mark Fields has revealed his investment strategies in a candid interview with Fortune.com at the LA Auto Show.
While the automotive industry rushes to invest in self-driving cars, Fields won’t be sucked in by next big thing predictions.
“One thing I’ve learned spending a lot of time in Silicon Valley is the term vaporware,” says Fields.
“Everybody’s got their 30-second spiel that they’re selling you…you can throw away a lot of money really quickly”.
Instead he plans to stick with Ford’s original investment and acquisition strategy. This involves doing their own internal vetting of potential acquisitions. Fields also says that the company is currently investing in two venture capital firms that focus on mobility, autonomous technology, cloud computing, and automotive IT.