Uber's COO predicts car ownership and driver's licenses will vanish within two decades

Uber president and COO Andrew Macdonald predicts that in 15 to 20 years, most people will not own cars or need driver's licenses, relying instead on bikes, scooters, public transit, and autonomous vehicles. He argues that individually owned cars are the most inefficient asset, sitting idle 98% of the time and incurring high costs. Uber is positioning itself as a platform for autonomous vehicles through partnerships with companies like Waymo and Waabi.

The financial argument against car ownership is central to Uber's vision, with new vehicle prices rising roughly 30% in six years. Macdonald emphasizes that a personal car depreciates constantly and carries fixed costs like insurance, even when parked. This economic inefficiency, he claims, makes the traditional model unsustainable for future consumers.

Uber has pivoted from building its own self-driving technology to becoming a network for autonomous fleets, partnering with firms like Waymo and Waabi. Macdonald, a 14-year Uber veteran, credits his effectiveness to trust-building and deep industry knowledge. His background includes a business degree from Ivey Business School and early work as a consultant.