OOH …Here’s One Thing
by Jim Johnsen,
Managing Director, Johnsen, Fretty & Company
God, that is still one of my top three songs of all time. She is a 12 out of 10, and she looks pretty good, too.
https://youtu.be/JlvxaCxhinE?si=HVVXvndkUrIRQjYS
I dare you not to listen and watch all the way through.
“Placing high stakes making hearts ache
He’s loved in seven languages
Diamond nights and ruby lights high in the sky
Heaven help him when he falls” Sade
But Johnsen, why that song? You may have guessed that I was going to launch into best practices or something droll like that. …Well, no need to do that as AI is going to take everything you know about workflows and throw them out the window in the next 18 months. Do you remember what your workflow looked like back when your strategic advance was the plain paper fax machine (while everyone else was trying to get the order to lay flat)? Exactly.
Anyway, the reason I chose that beautiful piece of musical lingerie was that I recently stumbled upon some good news. The CEO of Uber says we have nothing to worry about. Remember that existential risk that rears its ugly head every so often in esteemed publications like this, as well as on quarterly public co conference calls? Good news. No worries. Self-driving cars are NOT going to put it out of business anytime soon, according to Dara Khosrowshahi. I would recommend a listen to the whole thing if you have the time:
But hey, I get it, the second quarter awaits, and it’s time to fill up the pipeline, in which case, here is a quick synopsis:
A deep conversation with Dara Khosrowshahi about AI, self-driving cars, and the future of Uber—and transportation overall:
1) Uber is already an AI company, not just a ride app. AI powers its pricing (surge pricing… hate that stuff), routing and matching drivers/riders, and customer support. Ever have Uber tell you your car will be ready in 4 minutes, only for it to take 12? Thanks, AI.
2) Robotaxis are coming gradually. Uber is partnering with 20+ autonomous-vehicle companies rather than building its own cars. Its goal is to be the network of choice for all robotaxis. In the short term, he believes human drivers and autonomous vehicles coexist. In the longer term, there is a chance that robotaxis could dominate. Uber intends to be the “Amazon marketplace” of transportation.
3) The controversial future…humans may be banned from driving (say what?!). Khosrowshahi posits that if self-driving cars become much safer than humans, society should have a moral responsibility to restrict or even eliminate human driving. But as he sees it, this wouldn’t happen soon—it could take decades. Thank God for that!!!
But as he sees it, this wouldn’t happen soon—it could take decades.
4) Job loss due to AI is real, but gradual and uneven. At the moment, robotaxis are growing, but not as fast as the demand for more Uber drivers. With that said, over the longer term, job displacement will likely be a “big societal issue”. AI should also create new work opportunities for people, but we lack clarity on this at the moment.
if self-driving cars become …safer than humans, society should have a moral responsibility
to restrict or … eliminate human driving
5) Uber’s long-term vision is to become a global logistics and mobility platform. Uber Eats is now responsible for much of Uber’s growth. Think ride-hailing, robotaxi reservations, food-delivery robots, drones, and last-mile logistics systems. Uber is positioning itself as an infrastructure for moving people and goods.
but we lack clarity on that at the moment.
Whew, good news. Time to pop another double digital in the ground.
Happy Easter and Happy Passover to you all. Enjoy a spectacular week.
Securities transacted through StillPoint Capital Member firm FINRA/SiPC
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