No car?

(cont'd)

So Uber has great value as an alternative to the taxi industry (yesterday's post). But investor Bill Gurley sees the company playing a bigger economic role than that.

It turns out that a significant segment of the potential new-car market would rather use Uber than own a car. 

If you had to guess, what segment of the population do you think might make this choice? Right, age 18-32. According to Gurley, "[Millennials] view cars as a utility, not as a social statement."

"Uber is . . replacing or at least reducing how many cars people own. That's the real game-changer," Gurley says.

They're doing well over a million rides per day. It may be disruptive to the car manufacturing industry.