Rory Sutherland

There's two other things that are less visible is the tele-op costs because they still have remote drivers.

And then just the last thing, which I don't have a sense of, but I saw an interesting article on, you then have the interesting loading problem, which is if these are capex items,

When you think about a taxi-based city like San Francisco or New York, do you staff for peak, in which case you have a lot of capex tied out that mightn't be used most of the day?

Or do you staff for base, in which case are you hitting the TAM a little bit?

Because the beauty of Uber is there's a reason they invented surge pricing.

They wanted to get everyone to come out in the evening at 6 to 12 and then go home the rest of the day.

So all those go to say, what will the profit structure of this thing be like?

And how long will it take to get there?

And you can believe in a world where it's clearly going to happen.

It's clearly going to be amazing.

You can also believe in a world of gross margins of 10 or 20% for a long period of time.

I don't know.

But that's the list of things on their side.

Again, on that side, the bet is that my understanding, and I saw something on it just last week, is that the number of disengagements they have is a lot higher than the Waymo folks.

So, you know, the question is, I mean, I love my full self-driving and it hasn't crashed me yet, but you just, they're not yet being able to roll out without complete elimination of safety drivers.

So as yet, it's pre-product market fit in that terms.

And yes, that one will converge because the other guys have converged.

The only difference between the two programs is Elon has more data and Waymo has LiDAR.

So you're right.

I agree.