Thursday, June 06, 2019

Oh. Now if you own a car you are too rich.

Carpocalypse now: Lyft's founders are right — we're in the endgame for cars.

"We believe that the world is at the beginning of a shift away from car ownership to Transportation-as-a-Service, or TaaS. Lyft is at the forefront of this massive societal change," they told investors.

"Car ownership has ... economically burdened consumers. US households spend more on transportation than on any expenditure other than housing. ... On a per household basis, the average annual spend on transportation is over $9,500, with the substantial majority spent on car ownership and operation."

Cars create "inequality," they argue. "The average cost of a new vehicle in the United States has increased to over $33,000, which most American households cannot afford," the IPO says. "We estimate over 300,000 Lyft riders have given up their personal cars because of Lyft."

I've been seeing these stories come out the past week. I have also been talking about the buildup for cars since last year.

There is nothing in human history that makes me believe this. Lyft and Uber did not take ANY cars off the roads. They only allowed people to finance more cars.

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