Kittyhawk, the flying-car company, is closing

Kittyhawk was founded in 2010 to pioneer the market for so-called eVTOLs -- electric vertical takeoff and landing aircraft -- with the lofty goal of democratizing the skies. The secretive company was run by Sebastian Thrun, a Google veteran who worked on self-driving cars, augmented-reality glasses and other projects. The business was one of several startups working on the concept, which has proven to be a greater challenge than some expected. Air taxis have suffered crashes during testing in recent months, raising concerns about their safety. Insider previously reported on Kittyhawk's plans to close.