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Transcript

00:00:01
>> The trial that's gripped Silicon Valley, a fight between Google's Waymo and its rival Uber is finally over. I'm Reuters correspondent Alexandria Sage, here in San Francisco before a federal court, where today gasps erupted in a courtroom when we learned that Waymo and its rival, Uber, had settled their trade secrets civil law suit.
00:00:28
Waymo sued Uber a year ago, alleging that the ride hailing services company had stolen its trade secrets, and had incorporated them into their own self-driving technology. But today, we learned that Waymo will take an increased equity stake in Uber. And a statement from new Uber CEO said it was easier to work with its rival and cooperate than to fight them.
00:00:56
This case has riveted Silicon Valley, not just because of the trade secrets involved, but the competitive nature of this race to self-driving and the win-at-all-cost nature of former CEO of Uber, Travis Kalanick. Kalanick was fired last year from Uber, after a series of scandals and the new CEO is anxious to put this chapter behind the company.
00:01:24
A source familiar with the matter told Reuters earlier today that this case was largely about dragging Uber to the mud. In that, Waymo succeeded. But now both parties will put this chapter behind them.