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I was working at a large corporation a couple of years ago and looked out over the parking lot which covered many acres - there were roughly 3000 cars there. An
by UncleOxidant 6y ago
I was working at a large corporation a couple of years ago and looked out over the parking lot which covered many acres - there were roughly 3000 cars there. And this was just one of 4 campuses of said corporation in my area. In total they have well over 10,000 cars parked on those parking lots every day (prior to covid, anyway). At an average cost of $25,000 there were around $250M worth of cars parked on those lots. And they sit Idle there for 8 hours/day. Most cars are sitting idle 95% of the time. That's a lot of capital just sitting doing nothing most of the time not to mention all of the land required to store them.