Autonomic: Ford bought a Silicon Valley startup that will work with the automaker's rivals - here's why that's a good thing (F)

FordIn January, Ford outlined a vision for the future that includes technology which connects autonomous vehicles with pedestrians and city infrastructure.Later that month, the company purchased Silicon Valley startup Autonomic, which is developing the Transportation Mobility Cloud (TMC), cloud software that auto and tech companies can use to connect vehicles and apps.The TMC will be available to other auto companies, like Aptiv.Buying a tech startup and allowing it to work with your competitors may seem like a curious move, but the logic behind it points toward a fundamental shift in Ford's strategy.Tech companies have learned that there's more money to be made in software than hardware.The auto industry is starting to apply that same lesson, beginning a gradual shift from goods to services, like car subscriptions and ride-hailing apps.See the rest of the story at Business InsiderNOW WATCH: A Nobel Prize-winning economist explains what Milton Friedman got wrongSee Also:I drove a new version of the Ford Mustang GT on a race track - here's what it was likeTesla's data confirms Model S that crashed into fire truck had Autopilot engaged10 mainstream cars that are likely to become collector's itemsSEE ALSO: Ford has big plans to cash in on driverless cars, but not in the way you might think