November 1, 2015

LIFE IN THE 21ST CENTURY: How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025. “Industry experts think that consumers will be slow to purchase autonomous cars – while this may be true, it is a mistake to assume that this will impede the transition. Morgan Stanley’s research shows that cars are driven just 4% of the time,5 which is an astonishing waste considering that the average cost of car ownership is nearly $9,000 per year.6 Next to a house, an automobile is the second most expensive asset that most people will ever buy – it is no surprise that ride sharing services like Uber and car sharing services like Zipcar are quickly gaining popularity as an alternative to car ownership. It is now more economical to use a ride sharing service if you live in a city and drive less than 10,000 miles per year.7 The impact on private car ownership is enormous: a UC-Berkeley study showed that vehicle ownership among car sharing users was cut in half.8 The car purchasers of the future will not be you and me – cars will be purchased and operated by ride sharing and car sharing companies.”

Well, with luck this stuff will come around before I get too old to drive myself.

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