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Driverless cars are IMHO a classic example of technology looking for a problem to solve. My car’s utilization rate is about 8%. The remaining 92% of the time
by 300bps 8y ago
Driverless cars are IMHO a classic example of technology looking for a problem to solve.
My car’s utilization rate is about 8%. The remaining 92% of the time it’s sitting idle and since I work in a metropolitan area I even get to pay $190 per month to have it sit idle in a parking garage while I work.
My car is an enormous expense. It’s my second largest expense outside of my house. And it sits idle 92% of the time. I pay $900 per year to insure it, I pay to register it, get it inspected, pay for maintenance, depreciation, etc.
Autonomous cars run by service companies like Lyft and Uber will dramatically reduce costs for anyone driving their own cae today. Eventually overall car utilization will flip from 8% utilization to something like 90% utilization making transportation drastically more affordable.
And like you said, you get to work (or sleep or FaceTime with your kids) on your commute.