Andrew Miller

Yes.

There's going to be more demand for electricity, but it seems that that's going to happen because of A.I.,

No matter what happens in this sector.

So we'll have to solve that problem anyway.

I think the Jevons paradox suggests that we'll just use more.

Congestion is much worse.

Trip times get longer.

If you're sitting there playing Candy Crush, maybe you don't notice, but pity the poor soul who doesn't have access to this and has to drive, and their driving gets worse all the time.

It's easy to imagine a world where we have enough Waymos to really increase congestion, but not enough to really put a dent in private car ownership.

So it isn't rational on the margin to get rid of a lot of parking.

So we have more congestion, but we don't get to reclaim space.

But worse than that, public transit goes into a death spiral.

In a world where robotaxis make ride hail half the cost that it is now, you get so many people defecting to robotaxis, which means that...

Public transit gets worse at the same time that it costs more money to operate.

And more and more cities can't afford it, so they pull back, leading to a greater defection to robo-taxis.

So people that cannot afford even cheaper robo-taxi fares now have a worse transit experience or no transit experience.

So they experience less mobility.

That's a bad world.

In many ways, it's worse than the one we live in.

I would say there's two inflection points, and they're related to one another.