10 Charts on Mobility (and the mobile mobiles who mobile)

Of waymo, distance from work, home values, the horrors of rent-price fixing, reshoring construction materials

Publishing note: Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time.

• waymo cooks;

• people leave farther from work now, and that’s good, especially for families

• the other factor driving home values

• the horrors of rent-control—why won’t the FTC intervene?

• reshoring construction materials (no)

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10 Charts on Mobility (and the mobile mobiles who mobile)

Waymo continues to crush it

Self-driving cars are not only a neat novelty, but will have transformative effects on where and how people live.

That’s why it’s great to see Waymo continue to succeed:

Goldman

MAUs have nearly 10xed since the initial commercial launch ~2 years ago.

100,000 monthly active users to 1M in just two years and three cities is not bad. Waymo is also ~3% of Uber’s MAUs and 7% of Lyft’s.

Can’t stop, won’t stop.

The new geography of labor markets

One of the transformative effects that self-driving cars will (hopefully) have is on where people can live.

Self-driving cars (offices?) create a different set of constraints

around commuting, which is one of the main limiting factors on where people can live (and at what price).

Consider that, post-pandemania, people live farther away from their offices, and these people tend to be higher-earners, in their 30-40s, and married (women, especially). In other words, hybrid/remote work is a boon for families because obviously.

Some data from a recent presentation The New Geography of Labor Markets (and youtube):