1/ Here's why we think Tesla and every other automaker should pursue autonomous driving - the market likely will be worth much more than the auto market today. We estimate autonomous ridehailing will be worth $9T, or more than today's energy sector, in the next ten years. 
2/ Why? Because we think autonomous rides will be much cheaper than today's taxis and personal cars. At scale, they could price at $0.25/mile. This is a big deal. The price of personal transport hasn't changed in over 100 years. These economics can drive widespread adoption.
3/ AVs likely will offer more safety and convenience than ridehailing today in what could be a winner takes most market in each geography. Fees could exceed Uber and Lyft's 20-30% cuts and come in at the higher end of the spectrum below:
4/ Even though autonomous taxis will come later than originally promised, the market should still be measured in the trillions. After pushing our adoption curve back a year, ARK estimates the NPV of 10 year cashflows could be worth $1-2 trillion today.
5/ And who captures this value? Autonomous tech owners likely will control the majority of the economics. Today's ridehailing platforms don't seem to have autonomous tech that is market ready. Best case could be to partner, in which case their 20-30% cuts could shrink to <5%.
6/ To see more research like this, check out our 2020 Big Ideas deck.ark-invest.com/research/big-i…
