How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025

"A Columbia University study suggested that with a fleet of just 9,000 autonomous cars, Uber could replace every taxi cab in New York City13 – passengers would wait an average of 36 seconds for a ride that costs about $0.50 per mile.14 Such convenience and low cost will make car ownership inconceivable, and autonomous, on-demand taxis – the ‘transportation cloud’ – will quickly become dominant form of transportation – displacing far more than just car ownership, it will take the majority of users away from public transportation as well. .. PricewaterhouseCoopers predicts that the number of vehicles on the road will be reduced by 99%... it is unlikely that major automakers like General Motors, Ford, and Toyota will survive the leap.... Ancillary industries such as the $198 billion automobile insurance market,18 $98 billion automotive finance market,19 $100 billion parking industry,20 and the $300 billion automotive aftermarket21 will collapse ...self-driving semis, buses, earth movers, and delivery trucks will obviate the need for professional drivers and the support industries that surround them. - The Personal Blog of Zack Kanter – How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025