Jason, John Paul, Waymo discussed on Knowledge@Wharton
Cars feel by backup quote unquote operator behind the wheel ready to take over and emerge and emergency John craft Jack the former Hyundai chief who now runs Waymo has backed off a bit from his glowing forecast that they would be having fully self-driving vehicles with. No, oh in them. So we don't know exactly when that will happen. And in fact, if anything it's actually adding cost you have a more expensive vehicles and a driver behind it. So that that's you know, that's the caveat here. But if they find out that they're able to really make this work if the drivers don't have to constantly intervene. They make it approval within the next year or two to start fielding driverless vehicles completely driverless and that changes the equation because you take the driver out the biggest cost of a ridesharing vehicle and the ridesharing service goes away. Suddenly, you potentially make it possible for companies like Waymo one goo- Uber lift and some of the others that are coming to actually undercut the idea of owning vehicle and particular particularly in urban markets that may get thousands even millions of drivers to abandon the idea of personal via. Colona shit. If feels like John Paul and we've talked about Thomas now for the four and a half years we've been on the air with you have salute. But it feels like and correct me if I'm wrong, if feels like we've made pretty significant steps in the last couple of years on the technology side. But also, the understanding I think by the public, and maybe the government is well that this is a technology that is coming that at some point. It's going to be there. And maybe it is even a little bit sooner rather than later. And I mean, it's always been a topic filled with a lot of hype. And so at the hyped end of expectations. I think this year was a year of a little bit of realism and retrenchment. There was the Uber death in Phoenix. And all that. But we're going to see more and more experimentation, more and more pilots. If you take the percentage of total vehicle miles traveled is it going to be a huge percentage. No. But the pilots help the companies learn and get better improve their algorithms. And it lets the public see these new things kind of be more realistic about what works, and what doesn't, you know, you're going to find them slow in that they do weird quirky things of stopping at times. You you never would as a driver because that's part of working out. How it how it goes? But all of its kind of slow movement. I think towards both improvement and public acceptance that maybe in a couple years, we'll say wow below the surface things really work celebrating. On the phones in Panama City, Florida. Jason is on the line. Jason go ahead with your question. Can you hear me? Yes. Yes. Go ahead. Yep. Okay. Yeah. Hey, I was curious. You guys see a recession in the car market with used car sales eating up all these new car. Carcelle as you know, we just had this hurricane recently for him on city, and if you go to dealers there, so some new cars that everybody's trying to eat up the used cars because they just can't afford the new car prices. Right. The that was improvisation can have up the leases. And all okay. Jason got Paul. Go ahead. Yeah. That Jason that was exactly the point. I try to make these CPO's certified. Preowneds art such an attractive alternative. I'll be honest with you. I'm looking at one myself my wife wants to get into a pickup because we kayak a lot. And we want something that we can haul. It we can't with the current vehicle. We have we're going to add that and we. There's a very PO as opposed to a new vehicle, and I think that you're seeing that more and more. It's probably one of the reasons that that you growth that we saw during the middle of the stayed in the US new car market has has not screech to a halt the pretty pretty during..