The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Josh Beck - Raymond James - Analyst
: We'll just go through a series of questions here. If anyone has outstanding questions afterwards, we'll have a breakout session downstairs. So feel
free to tag along and ask questions then as well. But I'll just kick it off with AVs. I know this is a really, really immaterial contributor today, but certainly
gets outsized coverage because of the terminal implications.
So Dara I think did a great job yesterday talking about the market structure and it seems like a few years back he felt like it would have been two,
three, four players, but with what he's seen from some of the newer generation AV companies that it could certainly be maybe more than that.
There are evidence of some AV players scaling with less capital, quicker time to market. So just help us understand as you look at the market
structure, how do you see it evolving, A. And then B, how do you manage the trade-offs in terms of really getting everybody scale but also obviously
wanting to make everybody happy at the same time.
Question: Josh Beck - Raymond James - Analyst
: That's a great framing, obviously, exciting news in Austin. I'm sure many people will be booking a flight to go to check that out sometime soon.
But I wanted to walk through how it's feathered into a commercial service.
You obviously have economy rides, you have premium rides. It seems like with the early markets it's more on the premium spectrum. So I'm curious
what you've learned in terms of consumer willingness to pay for a robotaxi service. And then over what time frame maybe does it go from a premium
ride to more of an economy type of offering?
Question: Josh Beck - Raymond James - Analyst
: Yeah. And the analysis that you all did in the recent analyst walking through this $2 per mile, I thought was excellent because there's a lot of costs
that don't really exist in the traditional human driver world because a lot of those are borne by the human driver him or herself.
But my question is how do you think about the unit economics? I would imagine at the moment, it's really a phase of investing in the supply, but
over a longer time period, how would you think about maybe where it can go versus the core business today?
Question: Josh Beck - Raymond James - Analyst
: Okay. We'll try to book in AVs. This is many years out, but I think you have a really comprehensive strategy to remain relevant there. So maybe just
shifting gears to the core business around mobility. It seems like mobility bookings guidance as of the end of last year, you were kind of thinking
high-teens to low-20s for the first half neutral. More recently it seems like you're endorsing the higher end of that. So maybe just help us unpack
the drivers of the upgraded outlook.
Question: Josh Beck - Raymond James - Analyst
: Maybe following up there on some of the investment payback period. So you mentioned areas like suburbs, I imagine it's very well defined. You
have quite a history of data. You have new verticals. You have loyalty. How do you think about managing these payback periods in terms of
producing the growth and profitability metrics that you outlined in the midterm.
Question: Josh Beck - Raymond James - Analyst
: Okay. We're getting close. So I'm going to close with a little bit of an unfair question because it's so big. But just quickly on how you think about
the macro sensitivity of the business. And then on generative AI, feels like it's more of an efficiency tool in areas like service and coding. Just like
to hear your thoughts there.
Question: Josh Beck - Raymond James - Analyst
: We can go over a couple.
Question: Josh Beck - Raymond James - Analyst
: Well, we covered a lot in 25 minutes. So thank you so much for the time and thank you everybody for joining today.
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