Four Major Cities Where Uber Beats Ownership Costs

A report by a financial analyst predicts that many urban dwellers will find it more economically sensible to stop owning vehicles and use solely ride-sharing services, particularly as the autonomous car trend takes hold. The Abundance Insider, published by AI guru Peter Diamandis, reported on this trend and agreed with the report.

According to Kleiner Perkins Caufield & Byers partner Mary Meeker in her annual internet trends report, already in four of the five largest U.S. cities, it makes more sense to use a car sharing service like Uber or Lyft than to own a car. Those cities include New York, Chicago, Washington, D.C. and Los Angeles. Meeker made her analysis based on maintenance, insurance, parking and gas costs. The report was cited in a story in TechCrunch.com.

Lyft co-founded John Zimmer predicted that private car ownership will end in 2025 because of the expense. Elon Musk also predicted that self-driving Tesla cars would enable owners to earn income from charging for ridesharing.