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WeRide CEO pitches robotaxi safety as shares start trading in HK

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Shares of WeRide start trading on Hong Kong’s stock exchange today, just over a year after the robotaxi firm forayed into U.S. markets with a Nasdaq listing. For CEO and founder Tony Han, the offering is part of a global strategy to fund the expensive but necessary research behind the company’s autonomous-driving tech.

WeRide’s shares are now listed on both the Nasdaq and the Hong Kong Stock Exchange. WeRide elected for a dual primary listing, which will allow mainland Chinese investors to buy the stock through the city’s Southbound Stock Connect scheme.

“We want to make our stock more accessible to investors all over the world,” Han told Fortune in late October, on the sidelines of the Fortune Global Forum. “China is a very important market, both for consumers and also for investors. A Hong Kong dual listing actually helps some potential investors who can only invest in the Hong Kong stock market to buy our stock.”

Han says the funds raised through the Hong Kong listing will help the robotaxi firm continue to spend on R&D and deployment. “We will still need to raise more funds,” he said, “so this will put WeRide in a much better position to access more funds.”

Fellow robotaxi firm Pony AI also starts trading in Hong Kong today after its own IPO on that exchange. Like WeRide, Pony AI listed on the Nasdaq late last year.

Hong Kong’s IPO market is booming as Chinese firms hope to leverage the city’s access to both international and mainland Chinese capital. Firms listed in mainland China, including home appliance manufacturer Midea and battery-maker CATL, have launched secondary listings in Hong Kong in order to draw international investment. 

Yet several U.S.-listed Chinese companies are also considering primary listings in Hong Kong in order to access mainland Chinese investors. There’s also a geopolitical dimension: U.S.-listed Chinese firms may see Hong Kong as a backup in the event the Trump administration decides to delist them from U.S. exchanges, as part of a years-long dispute between Washington and Beijing over auditing standards.

The city’s Southbound Stock Connect scheme allows certified investors in mainland China to buy stocks listed in Hong Kong. Southbound flows hit a record $110 billion in the first seven months of the year, according to the South China Morning Post citing data from Wind, already greater than the entire total in 2024. 

Investors are flocking to AI firms and “new consumption”—think Pop Mart and Labubu. Hong Kong’s benchmark Hang Seng Index is up around 32% for the year so far; by comparison, the Nasdaq Golden Dragon index, which tracks U.S.-listed Chinese companies, is up 22%.

WeRide raised $308 million in its Hong Kong IPO, Bloomberg reported Tuesday. Shares were priced at 27.10 Hong Kong dollars, a slight discount to the stock’s Nasdaq price at Monday’s close.

WeRide HK-listed shares fell almost 12% on their first day of Hong Kong trading; the firm’s shares have lost over 40% of their value since the U.S. IPO. Pony AI’s HK shares fell around 14%.

Self-driving cars: A social good?

Tony Han, formerly the chief scientist at Baidu’s autonomous vehicle unit, founded WeRide in 2017. Based in Guangzhou, the self-driving vehicle company operates in several major Chinese cities, as well as markets outside of China. The company has pilot programs in Singapore, France, Spain, Saudi Arabia and the United Arab Emirates, among others. As of November, WeRide is now testing or operating vehicles in 30 cities across 10 countries. 

WeRide is a member of this year’s Future 50, Fortune’s annual ranking of companies with the greatest potential for growth. The firm is also a member of this year’s Change the World list, which highlights companies that are doing social good through their business models.

Han evangelizes the many ways that self-driving vehicles—and moving away from a car-centric culture—can improve society. He predicts that accident rates will be “drastically reduced” once cars are put in the hands of computers as opposed to humans.

Renault and WeRide’s autonomous Robo Minibus undergoing test, runs in Barcelona on February 14, 2025.

Josep Lago—AFP via Getty Images

“Most accidents, we find, are due to human factors,” Han explained, citing the effects of drinking, drowsiness, and distractions on human drivers. “Machines won’t be drunk, won’t overdose. Machines are very reliable. Fatal accident rates for robotaxis are much lower than human drivers.”

Less congestion could be another benefit of automated vehicles. “Robotaxis will never speed, will never just cut in line,” he said. “Traffic will just flow much more smoothly.”

There’s a broader economic argument for self-driving cars in countries whose populations are rapidly aging as birth rates decline—a particularly thorny problem in China and elsewhere in Asia. “With such huge markets, we will need lots of labor in transport and mobility,” Han said. “If we are short-handed, then we have to use AI to replace the shortage, to fill the gap between demand and requirements.”

That extends to public transport and public services. WeRide runs robobuses, robosweepers, and other automated forms of public transit and city vehicles. “The cost of bus drivers in a developed economy is quite high,” Han explained. If these costs can be reduced through automation, he argued, then cities can expand their transit systems and “help build more eco-friendly transportation for the whole planet.”

The robotaxi business

WeRide reported $27.9 million in revenue for the first six months of 2025, a 32% jump from the same period a year earlier. Still, the company reported a $110 million net loss for that same period, due in large part to spending of $90 million on research and development, approaching the $107 million spent on R&D for all of 2024. 

Robotaxis remain an expensive and unprofitable proposition. An HSBC report in July pointed out that self-driving cars have a lot of hidden costs, including remote supervisors, charging and parking infrastructure, and tech support. The bank suggested that robotaxis might not break even until about eight years after launch.

Yet HSBC also predicted that robotaxis will likely reach their commercial potential in China first, due to greater adoption and acceptance of robotaxi technologies. 

Chinese companies are leading the global push for robotaxis. In addition to WeRide and Pony AI, Baidu is also expanding its robotaxi offerings through its Apollo Go vehicles.

China also manufactures many of the components that go into self-driving cars. One key component producer is Hesai Technology, the world’s leading producer of automotive lidar sensors, which are used by robotaxis and other autonomous vehicles to recognize their environment and avoid obstacles. 

Global ride-share companies are taking notice. WeRide is offering its Middle Eastern robotaxis through a partnership with Uber. Singaporean ride-hailing firm Grab has also made a strategic equity investment in WeRide, and is working with the Chinese firm to offer robobuses in Singapore starting next year.

Singaporean transit company ComfortDelGro, meanwhile, is working with Pony AI to explore offering robotaxis, while Lyft is collaborating with Baidu to test its Apollo Go self-driving cars in Europe.

By comparison, U.S.-based robotaxi operations are proving to be a lot slower in global expansion. Waymo currently operates in Tokyo and London

Han isn’t surprised that global firms are now embracing Chinese robotaxis. After all, if China offers the best product, why wouldn’t foreign firms want to cooperate with it?

“When I was a teenager, we bought electronics from Japan, tools from Germany and computers from the U.S. It’s very normal. It’s very normal,” Han said.

“If WeRide can supply good robotaxi technology and services to Uber, and in turn, Uber and WeRide together bring a very efficient and comfortable taxi service to ordinary people; why shouldn’t we do that?”

Fortune is hosting the Fortune Innovation Forum in Kuala Lumpur, Malaysia from Nov. 17-18. Join business leaders and policymakers as they discuss opportunities and strategies for a world marked by AI, protectionism, and geopolitical tensions. Register here!



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The ‘Mister Rogers’ of Corporate America shows Gen Z how to handle toxic bosses

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After two decades of climbing the corporate ladder at companies ranging from ABC, ESPN, and Charter Communications (commonly known as Spectrum), Timm Chiusano quit it all to become a content creator. 

He wasn’t just walking away from high titles, but a high salary, too. In his peak years, Chiusano made $600,000 to $800,000 annually. But in June of 2024, after giving a 12-week notice, he “responsibility fired himself” from his corporate job as VP of production and creative services at Charter.

He did it all to help others navigate the challenges of a workplace, and appreciate the most mundane parts of life on TikTok.

@timmchiusano

most people are posting their 2024 recaps; these are a few of my favorite moments from the year that was, but i need to start reintroducing myself too i dont have a college degree, no one in my life knew that until i was 35 when i eventually got my foot in the door in my early 20’s after a few years of substitute teaching and part time jobs, i thought for sure i had found the career path of my dreams in live sports production i didn’t think i had a chance of surviving that first college football season but i busted my ass, stuck around and got promoted 5 times in 5 years then i met a girl in Las Vegas, got married in 7 months, and freaked out about my career that had me travelling 36 weeks a year i had to find a more stable “desk job”, i was scared shitless that i was pigeonholed and the travel would eventually destroy my marriage i crafted a narative for espn arguing they needed me on their marketing team because of my unique perspective coming from the production side i got rejected, but kept trying and a year i got that job the 7 years with espn were incredible, but also exhausting and raised all kinds of questions about corporate america, toxic situations, and capitalism in general why was i borderline heart attack stressed so often when i could see that my ideas were literally generating 2,000 times the money that i was getting paid? in 2012 i had a kid and in 2013 i got the biggest job of my career to reinvent how to produce 20,000 commercials a year for small business it took 12 rounds of interviews, a drug test i somehow passed, and a background check that finally made me tell my wife of 8 years that i didnt have a college degree they brought me in the thursday before my first day and told me what i told grace in that clip the next decade was an insane blur; i saw everything one would ever see in their career from the perspective of an executive at a fortune 100 i started making tiktoks, kinda blacked out at some point in 2019 and responsibly fired myself in 2024 to see what i might be capable of on my own with all the skills i picked up along my career journey now the mission is pay what i know forward, and see if i can become the mr rogers of corporate america cc: @grace beverley @Ryan Holiday @Subway Oracle

♬ original sound – timm chiusano

What started as short-video vlogs on just about anything in 2020 (reviews on protein bars, sushi, and sneakers) later transitioned to videos on growing up, and dealing with life’s challenges, like coming to terms when you have a toxic boss. Today, his platform on TikTok has over 1 million followers

With the help of going viral from his “loop” format where videos end and seamlessly circle back to the beginning, he began making more videos as a side-hustle on top of his day-to-day tasks in the office.

“How can I get people to be smarter and more comfortable about their careers in ways that are gonna help on a day-to-day basis?” Chiusano told Fortune.

Today, he could go by many titles: former vice president at a Fortune 100 company, motivational speaker, dad, content creator, or as he labels himself, the Mister Rogers of Corporate America. 

Just as the late public television icon helped kids navigate the complexities of childhood, Chiusano wants to help young adults think about how to approach their careers and their potential to make an impact. 

“Mister Rogers is the greatest of all time in his space. I will never get to that level of impact. But it’s an easy way to describe what I’m trying to do, and it consistently gives me a goal to strive for,” he said. “There are some parallels here with the quirkiness.”

Firing himself after 25 years in the corporate world

Even with years in corporate, Chiusano doesn’t resemble the look of a typical buttoned-up executive. Today, he has more of a relaxed Brooklyn dad attire, with a sleeve of tattoos and a confidence to blend in with any trendy middle aged man in Soho. During our interview, he showed off one of the first tattoos he got: two businessmen shaking hands, a reference to Radiohead’s OK Computer album.

“This is a dope ass Monday in your 40s,” began one of his videos.

It consisted of Chiusano doing everyday things such as eating leftovers, going to the gym, training for the NYC marathon, taking out the trash, dropping his daughter off at school, a rehearsal for a Ted Talk, eating lunch with his wife, and brand deal meetings. Though the content sounds pretty normal, that’s the point. 

“The reason why I fired myself in the first place was to be here,” he says in the video while picking his daughter up from school.

Today, Chiusano spends his days making content on navigating workplace culture, public speaking, brand deals, brand partnerships, executive coaching, writing a book, and the most important job: being a dad to his 13-year-old daughter Evelyn.

“I’m basically flat [in salary] to where I was, and this is everything I could ever want in the world,” he said. “The ability to send my kid to the school she’s been going to, eat sushi takeout almost as much as I’d like, and do nice things for my wife.”

In fact, when sitting inside one of his favorite New York City spots, Lure Fishbar, he keeps getting stopped by regulars who know him by name. He points out that one of his favorite interviews he filmed here was with legendary filmmaker Ken Burns.

Advice to Gen Z

In a time where Gen Z has been steering to more unconventional paths, like content creation or skill trades rather than just a 9-to-5 office job, Chiusano opens up a lens to what life looks like when deciding to be present rather than always looking for what’s next—a mistake he said he made in his 20s. 

Instead, he wants to teach the younger generation to build skills for as long as you can, but “if you are unhappy, that’s a very different conversation.”

“I think some people will make themselves more unhappy because they feel like that’s what’s expected of a situation,” he said.

“I would love to be able to empower your generation more, to be like somebody’s gonna have to be the head of HR at that super random company to put cool standards and practices in place for better work-life balance for the employees.” 





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Mark Zuckerberg says the ‘most important thing’ he built at Harvard was a prank website

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For Mark Zuckerberg, the most significant creation from his two years at Harvard University wasn’t the precursor to a global social network, but a prank website that nearly got him expelled.

The Meta CEO said in a 2017 commencement address at his alma mater that the controversial site, Facemash, was “the most important thing I built in my time here” for one simple reason: it led him to his wife, Priscilla Chan.

“Without Facemash I wouldn’t have met Priscilla, and she’s the most important person in my life,” Zuckerberg said during the speech.

In 2003, Zuckerberg, then a sophomore, created Facemash by hacking into Harvard’s online student directories and using the photos to create a site where users could rank students’ attractiveness. The site went viral, but it was quickly shut down by the university. Zuckerberg was called before Harvard’s Administrative Board, facing accusations of breaching security, violating copyrights, and infringing on individual privacy.

“Everyone thought I was going to get kicked out,” Zuckerberg recalled in his speech. “My parents came to help me pack. My friends threw me a going-away party.”

It was at this party, thrown by friends who believed his expulsion was imminent, where he met Chan, another Harvard undergraduate. “We met in line for the bathroom in the Pfoho Belltower, and in what must be one of the all time romantic lines, I said: ‘I’m going to get kicked out in three days, so we need to go on a date quickly,’” Zuckerberg said.

Chan, who described her now-husband to The New Yorker as “this nerdy guy who was just a little bit out there,” went on the date with him. Zuckerberg did not get expelled from Harvard after all, but he did famously drop out the following year to focus on building Facebook.

While the 2010 film The Social Network portrayed Facemash as a critical stepping stone to the creation of Facebook, Zuckerberg himself has downplayed its technical or conceptual importance.

“And, you know, that movie made it seem like Facemash was so important to creating Facebook. It wasn’t,” he said during his commencement speech. But he did confirm that the series of events it set in motion—the administrative hearing, the “going-away” party, the line for the bathroom—ultimately connected him with the mother of his three children.

Chan, for her part, went on to graduate from Harvard in 2007, taught science, and then attended medical school at the University of California, San Francisco, becoming a pediatrician.

She and Zuckerberg got married in 2012, and in 2015, they co-founded the Chan Zuckerberg Initiative, a philanthropic organization focused on leveraging technology to address major world challenges in health, education, and science. Chan serves as co-CEO of the initiative, which has pledged to give away 99% of the couple’s shares in Meta Platforms to fund its work.

You can watch the entirety of Zuckerberg’s Harvard commencement speech below:

For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing. 



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Senate Dems’ plan to fix Obamacare premiums adds nearly $300 billion to deficit, CRFB says

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The Committee for a Responsible Federal Budget (CRFB) is a nonpartisan watchdog that regularly estimates how much the U.S. Congress is adding to the $38 trillion national debt.

With enhanced Affordable Care Act (ACA) subsidies due to expire within days, some Senate Democrats are scrambling to protect millions of Americans from getting the unpleasant holiday gift of spiking health insurance premiums. The CRFB says there’s just one problem with the plan: It’s not funded.

“With the national debt as large as the economy and interest payments costing $1 trillion annually, it is absurd to suggest adding hundreds of billions more to the debt,” CRFB President Maya MacGuineas wrote in a statement on Friday afternoon.

The proposal, backed by members of the Senate Democratic caucus, would fully extend the enhanced ACA subsidies for three years, from 2026 through 2028, with no additional income limits on who can qualify. Those subsidies, originally boosted during the pandemic and later renewed, were designed to lower premiums and prevent coverage losses for middle‑ and lower‑income households purchasing insurance on the ACA exchanges.

CRFB estimated that even this three‑year extension alone would add roughly $300 billion to federal deficits over the next decade, largely because the federal government would continue to shoulder a larger share of premium costs while enrollment and subsidy amounts remain elevated. If Congress ultimately moves to make the enhanced subsidies permanent—as many advocates have urged—the total cost could swell to nearly $550 billion in additional borrowing over the next decade.

Reversing recent guardrails

MacGuineas called the Senate bill “far worse than even a debt-financed extension” as it would roll back several “program integrity” measures that were enacted as part of a 2025 reconciliation law and were intended to tighten oversight of ACA subsidies. On top of that, it would be funded by borrowing even more. “This is a bad idea made worse,” MacGuineas added.

The watchdog group’s central critique is that the new Senate plan does not attempt to offset its costs through spending cuts or new revenue and, in their view, goes beyond a simple extension by expanding the underlying subsidy structure.

The legislation would permanently repeal restrictions that eliminated subsidies for certain groups enrolling during special enrollment periods and would scrap rules requiring full repayment of excess advance subsidies and stricter verification of eligibility and tax reconciliation. The bill would also nullify portions of a 2025 federal regulation that loosened limits on the actuarial value of exchange plans and altered how subsidies are calculated, effectively reshaping how generous plans can be and how federal support is determined. CRFB warned these reversals would increase costs further while weakening safeguards designed to reduce misuse and error in the subsidy system.

MacGuineas said that any subsidy extension should be paired with broader reforms to curb health spending and reduce overall borrowing. In her view, lawmakers are missing a chance to redesign ACA support in a way that lowers premiums while also improving the long‑term budget outlook.

The debate over ACA subsidies recently contributed to a government funding standoff, and CRFB argued that the new Senate bill reflects a political compromise that prioritizes short‑term relief over long‑term fiscal responsibility.

“After a pointless government shutdown over this issue, it is beyond disappointing that this is the preferred solution to such an important issue,” MacGuineas wrote.

The off-year elections cast the government shutdown and cost-of-living arguments in a different light. Democrats made stunning gains and almost flipped a deep-red district in Tennessee as politicians from the far left and center coalesced around “affordability.”

Senate Minority Leader Chuck Schumer is reportedly smelling blood in the water and doubling down on the theme heading into the pivotal midterm elections of 2026. President Donald Trump is scheduled to visit Pennsylvania soon to discuss pocketbook anxieties. But he is repeating predecessor Joe Biden’s habit of dismissing inflation, despite widespread evidence to the contrary.

“We fixed inflation, and we fixed almost everything,” Trump said in a Tuesday cabinet meeting, in which he also dismissed affordability as a “hoax” pushed by Democrats.​

Lawmakers on both sides of the aisle now face a politically fraught choice: allow premiums to jump sharply—including in swing states like Pennsylvania where ACA enrollees face double‑digit increases—or pass an expensive subsidy extension that would, as CRFB calculates, explode the deficit without addressing underlying health care costs.



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