The end of the driver’s license: Uber exec calls car ownership ‘the most inefficient asset’ and says no one will need one in 15 to 20 years

Andrew Macdonald, president and COO at Uber, predicts that within 15 to 20 years, people will no longer require a car or a driver's license. The autonomous vehicles, public transportation, and even bicycles and scooters will be the primary modes of transportation. Macdonald argues that the traditional car ownership is the most inefficient asset since it remains idle for 98% of the day and incurs high operating costs.

Uber, while not developing its own autonomous fleet, has partnered with companies like Waymo and Waabi to integrate their vehicles onto its platform. Macdonald, the company's longest tenured active employee, attributes his success to two principles: making decisions that are best for the company and having in-depth knowledge of the business.