Over the next 20 years, what will be the most unexpectedly transformative technology? It’s a question that’s been asked of me more than once recently, and my counterintuitive answer is the automobile — and I am not referring to self-driving vehicles. Often innovation comes most strongly in basic, frequently used services, where the value proposition is already well established. So the car has a distinct advantage over a Mars colony, say, or a hyperloop.
The automobile experience has already improved greatly in recent years, mostly through ride-sharing, which enables new trips or helps people get work done or talk on the phone when they otherwise would have been driving. Ride-sharing has been the biggest technological boost to my standard of living since the smartphone, and the service benefits both drivers and non-drivers. It’s not surprising that two of this year’s most publicized IPOs are Uber and Lyft, with Uber having a potential valuation of $90 billion. And many Americans haven’t even started using ride-sharing, so there is plenty of room for the market to grow.
