>Second, we already know that people are willing to spend a large amount of money on personal transit that goes above and beyond the bare necessities of transit, at least in rich western nations. I see no reason why that would suddenly stop once the vehicle’s owner is no longer behind the wheel.
The success of Uber suggests that some people are choosing not to purchase private vehicles. But we don't know if this is limited to Millennials.
> The success of Uber suggests that some people are choosing not to purchase private vehicles. But we don't know if this is limited to Millennials.
The success of Uber only tells you that a) some people use taxis, and b) a pirate taxi using VC money to offer rates at below market level will be popular with taxi users, for obvious reasons.
How many people do you know that have replaced a personal car with Uber? I’ve known two people like that, and everyone else I know uses them in place of traditional taxis.
I use Uber/Lyft as a replacement for cabs to/from the airport, but almost all of my other usage of them is in replacement for driving my own car into the city. (In other words, these are trips that I'd otherwise take, but not via taxi.)
The success of Uber suggests that some people are choosing not to purchase private vehicles. But we don't know if this is limited to Millennials.