Often times my cab ride from the airport to my hotel costs more than my airplane flight hundreds of miles across the country. The economics of travel ain’t easy but technology is unlocking business opportunities. Uber knocked off Yellow Cab by employing a crowdsourced network of drivers, offering convenience and quick turn around times while dramatically slashing prices. Self-driving cars will soon cut out the human element of the equation, providing further compounding gains.
UBS financial researches have noted that within a few years the rollout of autonomous Uber vehicles – named “Robotaxis” – could cut fares for passengers by up to 80%. Perhaps even more shockingly, you may never want to own a car again. It’s possible that regular use of a Robotaxi would be 2X cheaper than actually buying and owning a car.
More autonomous cars on the road also means more predictability, potentially less traffic, and less congested cities due to the burden of parking being lifted.
Are you excited for the day and age where travel is completely autonomous? Or are you the type that enjoys taking control of a vehicle and getting yourself from point A to point B, even if you have to pay a little more to do so?