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This effect is true but the thesis is dumb. The rich are rich because of the compounding effects of wealth. Not that small fraction spent on durable goods.
I think the OP demonstrates the compounding effects of wealth, just not in a direct money-creates-money way.
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China has EVs that aren't luxury and I'm pretty sure Europe does as well if I am reading your comment correct you are trying to insinuate that EVs are luxury. If not your comment needs some clarity.
> I'm pretty sure Europe does as well Does it? A cursory search seems to put an (used) EV at around 10k$ at best. Poor people definitely do not drive 10k$ cars here. Hell, even my tech-adjacent friends in their twenties rarely own anything more expensive than 3k$-ish.
I wonder if electric cars were to approach the maximum range that most people would ever want to drive in a day, about double the stated range of the current longer-ranged cars, if that might trigger a rather profound and sudden tipping point. Who cares how quickly they charge if you’re stopping to sleep for the night anyway?
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China has EVs that aren't luxury and I'm pretty sure Europe does as well if I am reading your comment correct you are trying to insinuate that EVs are luxury. If not your comment needs some clarity.
> I'm pretty sure Europe does as well Does it? A cursory search seems to put an (used) EV at around 10k$ at best. Poor people definitely do not drive 10k$ cars here. Hell, even my tech-adjacent friends in their twenties rarely own anything more expensive than 3k$-ish.
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Perhaps not applicable to NYC, but isnt it kind of troubling that people who cant afford a luxury vehicle (55-100k) could be put in a position where they have to spend more money (gas) to go fill up out of their way, taxed for being poor, or shut up and take public transit (if it even exists where they live)? Surely no one driving an EV ever got to their position to buy one driving an ICE. Edit: happy this comment in…
I think it’s more troubling to view owning a car as a base right that everyone should have. It’s better as a luxury. We want fewer cars and for people to live in walkable areas where cars are not needed.
The end-point I want is for people to live in dense walkable areas by default. But people don’t live there and the few places that exist like that are disgustingly expensive because they are (surprise surprise) desirable patterns of building cities. So we need to build more of it. It will be a very big very energy intensive build-out program that will take decades. So the question is: Is it better or worse for the environment to move people to ICE so they can live in their existing buildings or is it better to build entirely new infrastructure so they can walk.
Maybe my thinking is too black and white. I want the latter but I’m not sure the costs to the environment in the short term are justified. Maybe the long term benefit justifies it. I don’t know.
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Not in New York... But our Bolt, while not the cheapest car ever, certainly doesn't match your description here. One doesn't have to buy a Tesla to get an EV.
Would you be willing to share what the car has cost in total (maint, elec, insur, ect) over the years? Genuinely curious.
A couple of comments on the article point out that if gas stations start closing due to reduced demand, it will accelerate the effect by making it more cumbersome to own a gas car. Recently, some of the industrial area near my apartment in NYC was rezoned for housing, and nearly all of the local gas stations were torn down (not because of low demand but because a 15 story building would be more profitable). The resul…
10% EV adoption is not far off, thats when we start seeing collapse of gas station. EVs charge at home or work, except when going on long rides. Gas stations lose this foot traffic forever. Adding EV spots at gas station won't help, there is nothing for people to do to for 15 - 20 mins at a gas station, they'd rather go to Target, Walmart, Costco and do some grocery shopping.
Most people don't understand how quickly things change. We went from flip phones to smart phones in less than decade. Neil DeGrasse Tyson explains How The Horse Industry Vanished in less than 20 years: https://www.youtube.com/watch?v=Lvzw7NPmppY
Folks buying new ICE cars will soon ([1]The first gas station in the United States opened in St. Louis in 1905, and by 1994 there were 202,800 across the country. Fast forward to 2013, and station numbers had decreased by 25% or almost 50,000, and by 2020 that number had shrunk to 115,200. A 2019 report by BCG predicts that 80% of conventional gas stations could be driven (pun intended) out of business by 2035: https://enpowered.com/the-death-of-gas-stations-will-be-far-...
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China has EVs that aren't luxury and I'm pretty sure Europe does as well if I am reading your comment correct you are trying to insinuate that EVs are luxury. If not your comment needs some clarity.
ICE are to EV as HDs are to SSDs. My intuition is that because there’s a floor to the cost of HDs (I think at some point it was around $35) and no practical floor to SSDs, there might be a similar story with cars. I know it’s really a bad analogy. Cars still need brakes (for now) and tires and lots of other stuff, but there’s a huge amount of infrastructure built in a car to help it blow up million year old leaves. E…
Meanwhile the floor on an ICE is more the complexity of manufacturing and labour. Some of which exists also for EVs.