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July 27, 2017 | Moving From Drivers to Riders Changes Everything

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

The shared autonomous, electric vehicle revolution is a game changer for the world economy.

There will be big wins like less accidents and injury, less air pollution and congestion, higher efficiency and productivity as well as an estimated 70%+ reduction in transportation expenditures for consumers. More cash in the pockets of families is greatly needed to help reduce debt and increase household savings.

But there will also be some major disruptions to presently dominant business models in sectors like fossil fuels, vehicle manufacturing, gas stations, repair shops, parts, dealers, finance, insurance, road and garage construction and much more.

This changes everything.  Those who aren’t paying attention are likely to be broadsided.  See:  Why (and when) we”ll go from drivers to passengers.

The first fully autonomous vehicles are expected to go on sale by 2020, and completely driverless models may follow by as early as 2022, according to plans laid out by both Ford and Daimler.

The convergence of self-driving vehicles and ride-sharing services will do more than make commuting easier, according to a new study by computer tech giant Intel. It envisions these emerging technologies will transform the nation as radically as the arrival of the original automobile did early in the 20th Century — in the process creating a “passenger economy” that will generate revenues of as much as $7 trillion by 2050.

Also see:  As Self-Driving cars near, Washington plays catch-up and  Laws must be updated as driverless cars steer us into complex insurance minefield.

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July 27th, 2017

Posted In: Juggling Dynamite

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