一夜蒸发540亿！这家全球市值第一的美国企业，为啥被所有人抛弃？

Core Viewpoint - The article discusses the rise and fall of Luminar, a prominent player in the lidar industry, highlighting its rapid growth, technological innovations, and eventual bankruptcy due to internal management issues and market competition [1][95]. Group 1: Company Overview - Luminar was founded in 2012 by Austin Russell, a prodigy who dropped out of college to pursue entrepreneurship in the lidar sector [13][28]. - The company initially gained significant attention and market share by innovating with a 1550nm wavelength lidar, which offered advantages in safety and performance over the traditional 905nm systems [34][38]. Group 2: Market Position and Performance - Luminar's market value peaked at over $5 billion in 2022, making it the most valuable lidar company globally at that time [9][11]. - The company successfully launched its second-generation lidar, Iris, which featured 300 lines and a detection range of up to 500 meters, priced around $500, making it competitive for mass production [51][52]. Group 3: Challenges and Decline - In late 2025, Luminar faced a catastrophic setback when Volvo canceled its partnership, which accounted for 90% of Luminar's revenue, leading to a rapid decline in stock value and eventual bankruptcy filing [59][62]. - Internal management issues, including the dismissal of CEO Austin Russell and disputes over contract obligations with Volvo, contributed to the company's downfall [65][63]. Group 4: Industry Context - The lidar market has seen a significant shift, with Chinese companies like Hesai and RoboSense capturing over 90% of the global market share, while American firms struggle to compete [98][99]. - The article emphasizes that technological superiority does not guarantee market success, as companies must adapt to market demands to survive [94].