This isnot to say it can not be done, as clearly the other side of the coin is that operational efficiency gains are also much more noticeable on the bottom line than in higher margined businesses, but it is higher risk/reward for low margin sectors. This will favor developing/proving the early TRL stages in new entrant or niche players, then buying out the successes when they hit early maturity.
Do you work at Ocado? Ever thought of working in AV? We're a young startup in SF, have a couple customers, just raised our seed, and are now expanding our team with some very critical high-ownership founding engineers.
Some info about us: https://crewline.ai/ https://crewline.ai/blog/crewline-manifesto
LMK if this is of interest. -Freddie freddie@crewline.ai