In a nod to the days when the introduction of the automobile rapidly made horse-drawn vehicles and their handlers largely obsolete, self-drive cars appear poised to wreak similar havoc in certain areas.
When the self-driving-car revolution firmly takes hold, there will be carnage, according to Wolf Richter of the Wolf Street blog. Not the car-crash kind — though that is a prevalent fear — but on the employment front.
“The magnitude of this problem is breathtaking,” he wrote. Citing government figures, he says that 4.1 million jobs (the stat of the day in our “Need to Know” column) are at risk, including chauffeurs and drivers of trucks, cabs and ride-share vehicles.