Cruise is now cruising some Houston streets. The self-driving car service has launched with $5 flat-rate rides. Photo courtesy of Cruise

For the first time, Houstonians can hail an autonomous vehicle to get from point A to point B, thanks to a tech company's latest market roll out.

San Francisco-based Cruise, which has launched in its hometown, Phoenix, and Austin over the past year and a half, previously announced Houston and Dallas as the company's next stops. Dallas, where Cruise is currently undergoing testing, will roll out its service by the end of the year.

As of today, October 12, Houstonians in the Downtown, Midtown, East Downtown, Montrose, Hyde Park, and River Oaks neighborhoods can hail a ride from an autonomous electric vehicle seven days a week between the hours of 9 pm to 6 am.

"We believe that everyone has a right to safer, more accessible and more affordable transportation, and we remain focused on cities first because that’s where our mission will have the greatest impact. Houston follows that city-first strategy with its densely traversed downtown, propensity for ridehail, and vibrant cultural center," Sola Lawal, Cruise's Houston manager, tells InnovationMap. "Cruise also shares in Houston’s Vision Zero mission to end traffic deaths and serious injuries by 2030 and we’re excited to address the transportation needs of Houston communities."

Although today marks the launch to the public, Cruise's employees and their friends and family have been testing out the service since August.

"People love this shift from working for your car as the driver, to the car working for you and the time this gives people back in their days," he explains. "A common reaction from first time riders starts with people being shocked and awed for the first two minutes then the ride becomes so normal that you forget you're in a driverless car."

Founded in 2013 by CEO, CTO, and President Kyle Vogt and Chief Product Officer Dan Kan, Cruise vehicles have self-driven over 5 million miles — 1 million of those miles were cruised on Texas streets. The company's fleet includes 400 electric vehicles powered by renewable energy.

Cruise's plan for Houston is to launch and grow from there, including launching larger passenger vehicles, the Origin fleet, for bigger groups of people.

"We always start small and methodically expand from there. For us it’s all about safety and how we expand in partnership with communities, so we let that be our guide for expansion vs arbitrary timelines," Lawal says. "Our goal is to continue to expand as quickly and safely as possible so we can get folks to the Rodeo when it starts and back home, anywhere in Houston, when it ends. You can expect expanded map areas, increased supply of AVs, and expanded hours until we are 24/7 across Houston."

Cruise has raised $10 billion in capital commitments from investors, including General Motors, Honda, Microsoft, T. Rowe Price, Walmart, and others. Additionally, the tech company has also a $5 billion credit line with GM Financial, giving it the financial support needed to scale. Strategically aligned with General Motors and Honda, Cruise has fully integrated manufacturing at scale.

Cruise, which touts a pricing model competitive to existing rideshares, is launching with $5 flat-rate rides for passengers.

"Houstonians who ride with us have the chance to be part of history in the making," Lawal tells Houston's to-be Cruise riders. "The industry has made incredible progress in the last two years but we are still in the early days of what’s to come as driverless ridehail becomes a reality for more people.

"We are proud of the service we’ve built so far and the safety record we have to show for it, but will always continue to improve. We're excited to launch with the community of Houston and we simply ask that you give it a try," he continues. "And when you do please give us feedback, we’d love to hear about your experience."

Origin, a larger, six-person self-driving vehicle, will also launch in the Houston market once Cruise rolls it out. Rendering courtesy of Cruise

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17 Houston entrepreneurs named finalists in annual regional competition

on to the next round

Entrepreneurs from the Houston area have been named finalists for one of the region’s most prestigious business awards.

The 17 finalists are competing for Ernst & Young’s Entrepreneur Of The Year 2024 Gulf South Award. The Gulf South region includes parts of Texas, along with Louisiana and Mississippi.

An independent panel of judges selected the 48 finalists. Contenders were evaluated based on their demonstration of building long-term value through factors such as entrepreneurial spirit, purpose, growth, and impact.

The Houston-area finalists are:

  • Shannon Payne, Allied Fire Protection, Pearland
  • Jay McEntire IV, Arva Intelligence, Houston
  • Andrew Levy, Avelo Airlines, Houston
  • Derek Maetzold, Castle Biosciences, Friendswood
  • Scott Aronstein, Connectivity Source, Houston
  • Joshua Weisman, Construction Concepts, Houston
  • Feras Moussa and Ben Suttles, Disrupt Equity, Houston
  • John Poindexter, J.B. Poindexter, Houston
  • James Ross, LJA Engineering, Houston
  • Asher Kazmann, Locke Solutions, Houston
  • Chad Millis, Millis, Missouri City
  • Mike Francis, NanoTech Materials, Houston
  • Stuart Hinchen and Peter Jenkins, Quva Pharma, Sugar Land
  • Trevor Best and Suman Khatiwada, Syzygy Plasmonics, Houston
  • Hal Brumfield, Tachus Fiber Internet, The Woodlands
  • Jared Boudreaux, Vector Controls and Automation Group, Pearland
  • Ting Qiao, Wan Bridge, Houston

“The finalists of this year are audacious entrepreneurs who are making a significant impact in their respective industries and communities,” says Anna Horndahl, an EY partner and co-director of the EOY Gulf South Program.

“These pioneers, chosen by an independent panel of judges, showcase relentless commitment to their businesses, customers and communities. We are thrilled to acknowledge their accomplishments,” adds Travis Garms, an EY partner and co-director of the EOY Gulf South Program.

Houston makes top 10 list of metros with most millionaires

living large

Anew population analysis has unveiled an exclusive view into how the elite live in the U.S., including a surprising discovery that Houston-The Woodlands-Sugar Land has the No. 9 highest concentration of millionaire households in the country.

The study by online real estate marketplace Point2Homes compared household data among millionaires in the 30 biggest U.S. metropolitan areas, including four Texas metros, between 2017 and 2022.

The report found that the number of U.S. households that earned at least $1 million a year more than quadruped within the five-year period, with the highest concentration of millionaire households located in the New York-Newark-Jersey City area across New York, New Jersey, and Pennsylvania.

There are just under 2,900 millionaire homeowners living across the Houston metro, making up 0.11 percent of all households in the area. The report revealed a majority (32.9 percent) of millionaires in Houston are actually Gen Xers, with the second highest share going to baby boomers (28.9 percent).

Most interestingly, the youngest generation, Gen Z, make up 15.4 percent of all millionaire households in Houston, with millennials making up 21.5 percent, according to the report. But the Gen Z percentage is misleading; as the report clarifies, there aren't actually that many Gen Z millionaires walking among us in H-Town.

"Instead, this high share is most likely almost entirely due to the people aged 15 to 24 who are still living with their (millionaire) owner parents," the report explained. "Unfortunately, living in a millionaire owner household does not a millionaire owner make — but it does come with some serious perks."

Physicians make up Houston-The Woodlands-Sugar Land millionaires' main occupations across all age groups, the study also found.

This is how Houston's millionaires live
The saying goes, "Go big or go home," and Houston's millionaire homeowners are taking that to heart when it comes to their own lavish households.

The report discovered the typical home owned by a millionaire in Houston-The Woodlands-Sugar Land is a five bedroom, nine total-room house, with an average assessed value of $1,466,682. As for wheels, a Houston-based millionaire is likely to have less than three vehicles (2.8) on average.

By comparison, the average value for a millionaire homeowner's abode in San Francisco-Oakland-Berkeley, California is $2,816,196, the highest amount out of all 30 U.S. metros in the report.

Big, expensive homes don't come without big costs to maintain them, the report reminds. And when it comes to managing finances for wealthy earners, making more money doesn't necessarily mean they'll be saving that income.

"Rather, it just means bigger homes with bigger mortgages and maintenance expenses; more cars; much costlier schools; and more over-the-top lifestyles, which simply bite bigger chunks out of the family's big budget," the report said. "However, despite the 'risks,' most of us would probably choose to have rich people problems. Or, as the saying goes, crying in a Ferrari might just feel better than crying in a Toyota when all is said and done."

Millionaire lifestyles across Texas
In a comparison of all Texas metro areas, Houston-The Woodlands-Sugar Land claimed the highest share of millionaire homeowners statewide. Dallas-Fort Worth-Arlington took the No. 2 spot, while Austin-Round Rock-Georgetown rounded out the top three. San Antonio-New Braunfels took No. 4 in the statewide analysis.

Dallas-Fort Worth-Arlington was right behind Houston in the national standings, ranking No. 10, with nearly 2,650 millionaire households situated in the Metroplex. DFW's millionaires are mainly chief executives and legislators, or physicians. Gen Xers (44.1 percent) make up the highest share of the metro's millionaires, with baby boomers (24.7 percent) not too far behind.

Austin-Round Rock-Georgetown, however, fell to No. 24 in the national ranking with only 749 millionaire households calling the Texas Capital home. Austin's millionaires are mainly chief executives and legislators, or other types of high-level mangers. Gen Xers (34.9 percent) make up the highest share of the metro's millionaires, with millennials (30.8 percent) not too far behind.

San Antonio-New Braunfels ranked at the bottom of the study at No. 29, above Pittsburgh, Pennsylvania. There were only 414 millionaire households in the metro area between 2017-2022, and a majority of them (38.4 percent) were Gen X physicians.

The top 10 metros with the highest share of millionaires in the U.S. are:

  • No. 1 – New York-Newark-New Jersey City, New York-New Jersey-Pennsylvania
  • No. 2 – Los Angeles-Long Beach-Anaheim, California
  • No. 3 – San Francisco-Oakland-Berkeley, California
  • No. 4 – Boston-Cambridge-Newton, Massachusetts-New Hampshire
  • No. 5 – Washington-Arlington-Alexandria, D.C.-Virginia-Marland-West Virginia
  • No. 6 – Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
  • No. 7 – Miami-Fort Lauderdale-Pompano Beach, Florida
  • No. 8 – Seattle-Tacoma-Bellevue, Washington
  • No. 9 – Houston-The Woodlands-Sugar Land, Texas
  • No. 10 – Dallas-Fort Worth-Arlington, Texas

The full report and its methodology can be found on point2homes.com.

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This article originally ran on CultureMap.