Glenn, thanks for the thoughtful response (I'm a fan of Car Charts by the way!)

I think the Silicon Valley myopia on efficiency is a fair critique. And I agree that personally owned AVs will be part of the picture.

Where I'd push back a little is on how static the framing is. We spent 3-4 generations making driving and storing your car hyper-convenient, with free parking everywhere and cities built around the assumption every adult drives. I'm not sure we will keep making those decisions once AV rides cost less than driving yourself. And generationally, the attachment to cars as identity is already fading. Millennials still feel it and Gen Z less so. By the time the cost lines on that Goldman Sachs chart cross (and that will surely happen at different times in different places), the generation coming of age might not care about car ownership the way we do.

I think the honest answer is it'll be really interesting to see how it plays out. The one thing I don't have a great answer for is induced demand. If rides get cheap enough, people take a lot more of them, and we're probably not thinking about that enough.