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How does Gaya view the trend of ridesharing impacting future car ownership and the growth of their business?

Carl Ziadé

Co-founder at Gaya

Covid-19 came, with all the unfortunate things that happened, and the new discovery that people can now work remotely and all these new habits formed. I was expecting more people to move to he suburbs, to leave the city—and I wasn't the only one betting on that. But then when you look at the New York rent rates this year and the San Francisco rental rates, it's kind of crazy; it seems like even though some offices no longer require people to return to office, people still want to be at the center, which further drives less car ownership and more car ride sharing requirements. 

Even with all of that, car ownership is on the rise in the United States, when you look at the number of cars per capita or number of cars in general. We didn't feel it would be a major thing at this stage, especially that with time, the Uber and Lyft costs are going to continue increasing. Because with time, the good thing is that the gig workers shall be and will be compensated more fairly. At which stage maybe people will start prioritising having a car .

Find this answer in Carl Ziadé, co-founder of Gaya on the auto financing and insurtech opportunity
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