Investor Gary Black, managing director of The Future Fund LLC, thinks that Uber Technologies Inc. (NYSE:UBER) could be poised to lead the Robotaxi sector ahead of Elon Musk-led Tesla Inc. (NASDAQ:TSLA) and Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo.
Operational Leverage
In a post on X on Wednesday, Black quoted a post by user @KevinMac291, which claimed that Robotaxi companies would ditch the Uber platform as soon as they achieved autonomy, saying that it was “just an app.”
The investor outlined how this was a “misconception” about Uber, saying that it was a “ride-hailing platform with 200 million monthly active platform customers,” as well as “10 million active vehicles” in its fleet and that the app connects that userbase with the fleet.
By contrast, Waymo “has 3,000 robotaxi vehicles on its platform,” which was far fewer than Uber’s. Black then said that once Uber begins offering unsupervised autonomous rides on its platform globally with “2-3 minute wait times,” while being comparable to Waymo on costs, “there will be no reason to take a Waymo.”
He then slammed Tesla’s bullish supporters for dismissing the company as …
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