Lecture on the disruption coming for the auto and oil industries. It's a long presentation, but covers some interesting territory.
I watched the whole thing....an improvement over the old lecture, and nicely done video quality.
Lot's to respond to. I was left cold by his TaaS (transportation as a service) stuff in earlier talks....and here he actually persuaded me. I still suspect that people who can afford it will keep their individual cars, and the transition to full TaaS will be generational.
Kinda like how young people don't watch much broadcast TV, but old people watch it ALL DAY. Broadcast TV
has been disrupted, and old people can certainly watch Netflix, but good old TV still has some (waning) cultural sway...and will for another generation.
But maybe he'll convince me on the timeline in his next lecture.
The part I found most interesting was his take on the used car market. If the number of cars needed starts dropping (due to TaaS adoption at the margins and with younger people) in the early 2020s, at the same time that EV propulsion eats ICE, what is the value of a used ICE car?? Tony thinks (half jokingly) that it
goes negative (About 40-45mins into the video). I hadn't thought about that, but it makes me think I want to trade my remaining ICE car for a lease in a few years!
One thing that a lot of EV skeptics talk about is 'the incredible depreciation' of EVs such as the LEAF. They say they cost $35k MSRP and then three years later (off lease) they sell for $12-15k! Incredible they say, and evidence that they (
i) are stupid to buy and/or (
ii) obviously don't have any value or (
iii) have low implied durability. When in fact all these reasons are wrong....in fact the new car is rolling off the lot with so many incentives that it costs $20-$25k new, and the depreciation is not that bad at all, the value is high and so is the durability.
How funny/ironic if all the people using used car prices to justify the correctness of their current ICE-ey decision making are stuck with a perfectly functional luxury ICE car that they can't get parts for, aren't legally allowed to drive into their nearby city (or have to pay $10 fee to do so), and that no one wants to buy, in like 2023?? I think history often has these little ironies....