I'm gonna need to get my driver's license in a couple of years, but after hearing this I have a question So you may not have to get your driver's license, but that was my entire question So much of driving now is the technology in the car around the car So technology is always going to be a part of the human experience humans will be demonstrably less safe than autonomous and then it's gonna be up to regulators to decide What you know, what a human license looks like how does that end up affecting the next generation drivers? Do they have to learn how to drive and like what happens to sports like race car driving mass? Production of these avis is gonna take some time They are very expensive today much more expensive than a regular car It's just happening faster than even I expected and I'm an optimist as it relates to technology is Society gonna adjust and Canada just fast enough and so from my standpoint Gentlemen All right, so go the mics for your questions I'm gonna start with this might this question on slide. Oh, so what's harder? Convincing regulators that that autonomous cars are safe or convincing passengers to get into one. It's actually pretty easy To get passengers to get into an autonomous vehicle. What we're finding is um, you know, for example a Lanter Austin We let you know that you have been Match with an autonomous vehicle 80% of people say yes 20% say no And the 80% who say yes love the experience regulators obviously Move a little bit slower But this is a technology that I say more people are excited about than not. All right, we got one of our teens We have a group of 20 teens here in the room. Very cool. Please. How you doing? I'm doing good. I had a quick question just about like in 15 20 years when most the cars on the road are self-driving Does ever become illegal for human drivers because do they become like a safety hazard risk on the road? And how does that end up affecting the next generation drivers? Do they have to learn how to drive and like what happens to sports like race car driving? Is that like gonna like die out because nobody has to drive anymore? Just that's kind of where I'm asking about well I think that Race car driving is always gonna be a thing because it's just so damn cool, you know again You may be augmented right? It's it's you think about so much of driving now as the technology in the car around the car So technology is always going to be a part of the human experience I do think I don't think it's gonna happen in the next 15 years But certainly in the next 25 years humans will be demonstrably less safe than autonomous Drivers and then it's gonna be up to regulators to decide What you know, what a human license looks like maybe though? Maybe the driving test is gonna be much more demanding than than it is today. I like free will so I'm like Hey, if you want to drive that's not a problem But I can definitely see a future where you know, there are gonna be fewer and fewer drivers on the road Just like there are less people who know how to ride a horse So Darah, I'll so thank you that question. I'll build on that, you know There's a lot of deaths in the Middle East from young teenagers with fast cars Yeah, and I guess I could imagine a future in which an AI overlay Allows you to drive your cars fast and crazy as you want But it knows the cars limits and it stops you from ever swerving off the road, right? It's like bumper bumpers that you go up against so that would be fascinating That's just a comment. Let's go to here question like yeah So just a question regarding when you have the flying cars now from a real estate perspective What will be the opportunity here? Will you be putting on top of buildings or? Heliport we're so we're talking again This is more joeby, but there's a lot of discussion on vertebrates so to speak and and we want this product to be a mass market product So these vertebrates will have to be designed to have multiple vehicles coming Landing and taking off the location of those vehicles is going to be based on kind of very high traffic areas I think obviously airports or city centers or The sides of cities are going to be Target so to speak and we've got perfect data in these cities as to what are the best places for you to place vertebrates to be able to have the most business and Reduce the most amount of traffic as well So there's absolutely a real estate opportunity if you're interested give our uber folks or the joeby folks a call Yeah, I think it's a huge opportunity as well for small islands that are hard to get to totally Elchin where do you like to? Thank you very much Elchin I'm building solid shape construction materials marketplace If you are starting Marketplace now at Abandon's era With AI what would you focus on first and we're using? Uber for our LTL. Thank you. So if we start a marketplace, what would you focus on first? Is that the question? I mean our marketplace has always been supply-led And one of the one of the differences when I first came to uber uber from Expedia Expedia was very focused on building out audience uber has always been focused on building out the liquidity Whether it's more cars in a market whether it's more restaurants more retailers, etc And if you build liquid supply if you have product market fit fit to some extent the demand just shows up And obviously there's always a challenge in marketplaces. How do you build both sides? But to me put real tools in place to become kind of the easiest to use and the most liquid as it relates to supply And then if you if you do have product market fit the demand will show up Let's go to burgundy and Mike one burgundy Hi, my name is burgundy and I am Definitely biased towards the automation cool, but as a lawyer outside of this room everybody is just freaking out And so my question is Given that we have this Automization and sensors and having seen the data on human error for speeding and intoxication, etc What are some opportunities for insurance to cover this through for example products liability? So we can take the human out of the equation and yet still give people an assurance that they're going to be covered if accidents do happen Yeah, so I think it's a great question You know first thing I would say is that with uber the professional driver is safer than the human driver and the data Bears that out, but I do think that you're going to have different layers of insurance as well So the autonomous provider will have kind of the specific insurance related to the car And they'll have to take a responsibility for the quality of their driver And then we'll also have another insurance layer on everything else that happens so that people are covered and they can feel comfortable Kind of taking an AV to wherever they're going Other way there's a hidden Statistic that very few people know about which is about half the court cases legal court cases in the US are car accident related Wow Is a very very big industry as a benefit to society to get rid of that Alright, so go to Shilpa. Yeah, pleasure Hi I'm Shilpi. I led Robotic systems at Amazon Air Hubs. I launched them and let them and now We're building continuous biosensing technology at Quinn Labs My question to you is as you start moving towards Multi robot type super systems, right? Joby aircrafts working in coordination with ground vehicles autonomous ground vehicles I think the hardest part is the coordination and the continuous monitoring and upkeep of these Multi robot type systems and we and we faced a version of this at Amazon as we were Managing these large robot fleets some very very interested in your vision of this infrastructure and what do you believe is the bottleneck to this? hardware software Regulatory so you've kind of described exactly what we do in that we have a very very large marketplace team That is essentially, you know, we got over nine million drivers probably 10 million drivers now globally and Every in every city in which we're operating we're constantly taking kind of the state of that city Real time Or as real time as we can be because we got to kind of recalculate the state of the city And every time you hail essentially an Uber We are not dispatching you just the closest car But we're actually also predicting kind of what's going to happen over the next five or six seconds And and kind of getting you Connecting you with the right driver at the right time in a way that's most efficient for the overall For the overall network, so there may be another driver that's closer to you But we think that Peter is gonna hail that driver and we'll leave that driver free and we'll we'll hail another driver to you Our systems have to deal with human beings who are highly unpredictable and highly erratic as well In terms of their behaviors. So sometimes if it dispatch isn't going well, we'll do another dispatch, etc So I'm actually kind of psyched for machines because they're much more predictable and they usually say what they're gonna do one of the you know kind of contracts we have with our human drivers is that when we dispatch a A ride to them they can accept that ride or not accept that ride With machines again, they're not only be predictable But they will have kind of acceptance rates that we think are much higher than humans as well So of course there will be a coordination problem How do we stitch together one ride with another ride and make sure that that experience is is Perfect, but this is exactly what we're doing at scale 40 million trips every single day with a With markets that are very very different from each other in terms of behavior So I'm very much looking forward to that future that you described nice. Let's go to mark on Mike to here Thank You Peter Darrell my moonshot is what I call affordable living as a service housing food energy connectivity and mobility for $250 a month It won the X prize vision airing contest in October and so it's gonna be a $50 million prize To deliver this If I could if I could mark one of the concerns 50 a month wow 250 a month and I think people in this room know It's possible, but delivering it sooner than later as a stability Lever in this moment of transition is gonna prevent us from having Chaos and so I want to challenge you to be a funder and a competitor in this prize Well, thank you. I will tell you though one thing that's very important to us is Making sure that as we build out uber and cities our service isn't just available in the middle of cities where wealthy people live But is available in all kind of throughout the cities and the outer boroughs, etc So, you know happy to talk in terms of the provision of transportation To a lot of these transportation deserts where you don't have mass transit available, etc One of the promises of autonomous is going to be you know safer check But then eventually autonomous will make transportation cheaper as well And we want to make sure that that kind of cheap affordable safe transportation is available to everybody regardless of where you live Dar the concern right now is there's a lot of fear that's mounting about the future sure uncertainty all of this last night We launched a future vision X prize asking teams to create films that envision a very positive vision the future so we have something to look forward to and This idea that mark and his team has had is about universal basic services. So if a family Doesn't know where they have a roof over the head or where food is coming from or anything I mean you had a disruptive childhood growing growing up in Iran You can't think of anything else and so if there is a delivery of basic fundamentals food water energy help You know those sorts of things Then you at least you can now think about dreaming about what do I what do I do next with these incredible credible tools? So it's a direction we want to want ahead either to your point also about the bed in it I think there's a possibility to decouple from land with housing to get to that too So I'd love for uber to be thinking about that. Thank you. Thank you. All right. Thank you. Thank you Let's go to Charles on zoom Charles So Dara this is going to be maybe a difficult question, but hopefully you can you can address it so obviously in China ubers Didn't work out and now China is expanding into the Middle East and and and the other emerging markets I know you're in 70 countries and and they their estimate is 70% of their cost goes away with the Autonomous car right the cost of the driver. So what is your what did you learn from your experience in China? There's an organization and how do you plan to tend you know sort of address the Middle East and and and other emerging markets? If they flood the market with cheap autonomous vehicles Yeah, so I was Absolutely, I when I joined uber Travis and Emile and team had already decided to exit out of China China is an unbelievably competitive market I Was I competed in China with Expedia and choose the technical term we got our asses kicked So I can't say I disagree with that decision. I thought it was a very good decision And and I think it was absolutely the right thing to do. We have a big stake in DD who's the largest Chinese AV player sorry Right chair player haven't monetized that yet looking forward to that at some point We work with Chinese partners. So we work with Chinese OEMs for example BYD is a very very big partner In that they provide Affordable electric EVs all over the world and and we still believe in EVs. They they are great cars Obviously, they're better for the environment, etc. And in the same way, we're also working with Chinese Autonomous players. So whether it's a Whether it's a pony or a we ride Hopefully by do as well. We are working with these players in many markets outside of the US obviously But we believe we think building bridges to China Is the right way forward for us? And AV is going to be an industry that We think the Chinese have a lot to offer and we're working with these Chinese partners today as we speak amazing Andy Thank you. Thank you Peter. Thank you there. I'm Andy from Hong Kong. We run Autonomous insurance company and we ensure EV AV and robotics. Oh my question is that you know working with underwriters? are there any specific challenges or Desires that you would love to Work with actuaries or underwriters. That's number one and the second one is would you consider and better insurance into autonomous Fiat course as well. I think the second absolutely we would The model is it's a model that hasn't been figured out yet, right? This is a very very young industry. Is it going to be the driver? Is it going to be the platform? Will it be some kind of combination? All of that is TBD. So we'd love to Talk to you about that in terms of the challenges that the challenges is as any actuarial kind of a business is you need the volume Right and right now while autonomous is a reality today and is growing very very quickly it is you know, I think Last year all of the autonomous trips in the world represented less than 1% of our growth in volume Not just the volume that we had but the amount of rides that we added last year So this is at this point a very very small industry And we need the law of large numbers to start speaking to us. So as to figure out how to price your The services that you provide. Yeah, thank you. We provide the data to actress. Yeah, it's perfect to have a chat with you Thank you. Nice. Thank you. Yeah, one of our teens good to see you So I'm gonna need to get my driver's license in a couple of years, but after hearing this I have a question So you may not have to get your driver's license, but that was my entire question So if cars are going to drive themselves and Jones are going to do are going to be delivering everything Well, I even need to get my driver license when I'm 16 or will robots just do ever Oh, yeah, how old are you now 13 you're 13? Three years away three years away. So Ilya I think three years from now You will still want to get a driver's license because even though these 80s are coming Mass production of these 80s is going to take some time. They are very expensive today much more expensive than a regular car But ten years from now You won't have to drive and you'll have plenty of choices But it's kind of fun to drive. So I'd encourage you to get your license. Nice ten years ago I made two predictions Our sons were four years old at the time and prediction one was my son would never go to university and his prediction Two is that he would never get a driver's license. I predict today that in two years He won't need to get a driver's license. He'll just get it so you can get away from the parents But the need won't be as much and certainly it's going to collapse over the next year my son is 21 years old He doesn't have a driver's license and he doesn't seem to have any intention of getting one. It's got a big uber bill But that's okay He's got contacts great question George Hey, Dara George bang there and with untapped ventures so we invest in the autonomous economy and While myself and for our investors, it's very exciting to see this world where You know billions of agents and billions of all kinds of autonomous robots like the ones you're talking about but the the the human Concern comes up and I love what you said earlier about how you're already thinking about it and kind of extending the kind of work That uber is So I wonder if you could expand on that What are your thoughts about what role uber might play in that as well as the rest of the ecosystem? I think in this community we talk a lot about There's you know, you know And there's gonna be tens of hundreds of millions of people that are gonna be out of work because of AI and robotics And it sounds like this is something you guys obviously already have thought about and and certainly would be great to get Peter And salim's thoughts on this as well because I think it's a big problem But I also think it's a it's a great big opportunity for some new startups to come in and solve that What do we do with all of this new human labor? In the next 10 20 years when this transition happens, but yeah, totally So I think the first thing that I'd say is you know, the the the press loves the drama of Machines replacing humans because it's dramatic, right? It's interesting it may not be pleasant, but it certainly gets people's attention and you've got to realize that the press is like any business as well right they will tend to Dramatize things to be able to earn revenue just like any other business in the world. It's not a bad thing. It's not a good thing But it's a reality The reality that we've seen historically is that automation typically doesn't replace work, but it augments work you know if you go to a Probably the Chinese OEMs are the most sophisticated When you go to their factories. Yes, there's a ton of work That's that is automated and the robots all over the place They're they're humans and instead of doing the work. They are overseeing the robots doing the work performing kind of quality checks, etc And yes, there are less humans working in that plan than there would have been 10 years ago But there are plenty of them around so I do think that there's and we see the same thing in terms of AI at the office as well Just like any other company. We're looking at automated tasks, etc But usually we don't get to that hundred percent automation will automate 20 percent will automate 30 percent and There's plenty of work to do so to speak So I do think that over the next 10 years you will see a lot of augmentation of work and some replacement of work and Historically our society has been able to adjust and as some work has been augmented or replaced New work shows up, etc. That is my hope as it relates to our society as well. There is a real question Because you know singularity, etc The the pace of change is moving so quickly in the base of change that we're seeing as it relates to AI and Automation over the past five years. It's just happening faster than even I expected and and I'm an optimist as it relates to Technology so I think there's an open question as to how quickly is Is society gonna adjust and just as it has in in Historically Canada just fast enough and so from my standpoint if that's a question Well, what can we do about it as a big flexible labor platform? And we are kind of we are extending the kinds of jobs available so that by you know in 2035 We've got 20 million people on our platform versus the 10 million people on our platform now They may be doing different kinds of tasks But there will be plenty of work to go around on our platform And I think ultimately, you know, whether it's retraining new jobs, you know, it will be the it'll be up to both Private enterprise and public enterprise to take a lead here to lean forward I don't think it you know helps to kind of worry about this stuff because what the hell is worrying gonna do to you So, you know, my push is let's do something about it We as a platform are doing something about it by the impeters push on Kind of labor, you know being able to own assets, etc. Is another great push as well There's no question that kind of You know in our capitalist society Capital is the thing that's being optimized Sometimes at the expense of labor and to kind of bring labor along so that they can be owners That is a very very positive direction that we go in and hopefully that's something else that we I love this Uber Is the societal capacitor Being able to absorb and then and discourage electrons as required. I mean that the kind of work at at Uber It's obviously, you know, it used to be when I grew up is like you'd have a job for life Yes, you know now that social contract now a lot of times you have a job for a week and move on something, right? Amazing pair Thank you. My name is pair. I'm from Chile And my family has a shipping company and part of what we transport is oil and It's And gasoline and jet fuel So my question is do you think that? EVs will push out completely the combustion engine and How can I calculate? if you think so You know, how quickly will it go? I think that the Onset of these technologies in the physical world always takes longer than the digital world You know, you need an ecosystem to move these cars over to EVs and and Based on what we see the EVs are a better product But the ecosystem especially in the US in terms of charging infrastructure, etc. It's just not there yet Which is why EVs have not kind of gone the kind of traction in the in the US than they have Certainly in Europe one of the benefits of AVs are is that you know, AVs are EVs and so as Autonomous becomes a bigger reality in our network. Our network is going to move to EVs as well So I think 20 years from now. Yeah, I don't think you're gonna see too much too many combustion engines But 20 years is a long way away And the world is gonna be a very very different place by then we're going to cigar on on Mike one Thank you. Dara. My name is Sagar Chopra I'm a co-founder of a company called empower sleep before empower sleep I was actually at uber for about four and a half years very cool focused on international expansion And I always tell people it's one of the coolest jobs that I ever had so always really admired your did you work hard? I worked very hard. Yeah Sleep company There's a whole story to that That's funny hard You know one thing I really admired about the culture to your point everyone ran towards the fire Super entrepreneurial very driven Everyone had a lot of agency over their own decisions and it just created this magic within the company How do you preserve that as the company grows and scales and doubles triples in size? I'd love to just get great questions. Yeah, it's it's listen. It's something that Companies as a scale they all have to Face and and we don't get it perfect by any means But the two two things that that I would point out is one of the core values at uber is Do the right thing period? Okay, and that was a value that we introduced during a difficult time when you could argue We weren't doing the right thing And and at the time, you know most companies when they have values as there's like the headline and then there's a description of the value Would do the right thing the description is period And I remember when we introduced the value to our employees people are like well, what does that mean? What does do the do the right thing mean and What what I told the team is what it means is you are responsible for doing the right thing every single person in our shop is responsible Has to take that responsibility personally as far as what they're doing and sometimes doing the right thing maybe to play safe Or maybe to take a risk or maybe to run fast or maybe to fold your cards You know, you never know exactly what do the right thing is but for us we have a culture where individuals at uber Three four levels down for me still can impact the direction of the entire company and and that's something that came like I I Was able to take from Travis and the and the culture that he built You know, there's a lot of criticism about him, etc. But like he built a culture of go getters And I got to inherit that culture and kind of keep pushing it forward So there is you know, do the right thing is also a message of responsibility at all levels at the company And then for me, you know as companies get larger They tend to get more conservative And the exact opposite should be true, you know, Peter you were talking about when we joined the company We were losing four billion dollars Like if we made a decision and we lost the billion dollars on that decision, it would be a freaking disaster You know, we cash flow we're gonna cash flow ten billion dollars this year So we should be taking big bets Yeah, and while I'm not rooting for these bets to fail some of them are going to fail And so for me the fight that I have all the time and it's a fight with myself Sometimes with it. It's my board and it's with my team is Companies tend to get more conservative as they get bigger and the exact opposite should be true because you can take big Bet at large scale and you can be just fine if you if they don't work out It ain't perfect. I fight it every single day talk to the team about it But they're they're the ones who are the doers, you know, there's only so much I can do Love it. Love it. We take one last question from my deputy son bear over here bear. Hey there So following up on that last question. I was wondering When you run one of these huge companies, how do you decide when to pursue a new You know a new field rather than kind of stay conservative and continue just collecting cash flow. Yeah, so We we want to make sure that we are continually experimenting and usually when we go after a new field The way I put it is it's got a rhyme with what we do So if it's kind of something new crazy out here You know a startup is probably better equipped to do it But if you look at the path of uber, you know We started with rides and then if we're gonna move people around why can't we move things around so we then we went to eat If we're gonna move food around why can't we move, you know Bulk around so we actually went and started uber freight if we're gonna move people on the ground Why can't we move them the air that was elevated? Etc. So what we try to do the pattern that we find is hey What are areas where we have some core skill set that gives us a right to win in this adjacency? Uber AI solution has nothing to do with movement But actually is a kind of work flexible work opportunities that we're bringing either to our drivers or Entirely new people coming onto the platform to go out and design new models or or do labeling for for new models or test out Models etc again it rhymes with us because we are that platform for flexible work So if it rhymes I'll listen if it doesn't rhyme it's better for someone else to do it You
