Future Society

Autonomous cars will destroy millions of jobs and reshape the economy by 2025

  • They will cause unprecedented job loss and a fundamental restructuring of our economy, solve large portions of our environmental problems, prevent tens of thousands of deaths per year, save millions of hours with increased productivity, and create entire new industries that we cannot even imagine from our current vantage point.
  • Both Google and Tesla predict that fully-autonomous cars—what Musk describes as “true autonomous driving where you could literally get in the car, go to sleep, and wake up at your destination”—will be available to the public by 2020.
  • Ancillary industries such as the $198 billion automobile insurance market, $98 billion automotive finance market, $100 billion parking industry, and the $300 billion automotive aftermarket will collapse as demand for their services evaporates. We will see the obsolescence of rental car companies, public transportation systems, and, good riddance, parking, and speeding tickets.

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