(I think the real estate market doesn’t fully appreciate this yet? Seems to be something where the first movers are going to do quite well for themselves, but relative illiquidity and huge cycle times for real estate mean that might take a while.)
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Examples: A restaurant is two businesses. One is a demand aggregator; it gets sited in expensive commercial real estate because high-demand locations are that. The other is a commercial kitchen; it is in expensive commercial real estate only because has to be collocated.
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If the demand aggregator is your listing on an app, then you can put the commercial kitchen anywhere within a bike ride (/etc) of the customer base, which can easily be 1/3rd of the rent. Restaurants budget 25% of gross for rent; that is not a small savings.
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Similarly, if you think of “Where would you site an apartment building aimed at single or couple professional?”, that is dominated by access to transit and local amenities... but while six blocks is a long way for that decision it’s ~nothing if you assume availability of apps.
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You mean like how proper public transportation has done for ages?
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Public transit does it among transit corridors. (I live in the best served city in the world for public transit, and you can still draw a diagram “minutes of walking from train station” and predict real estate prices from it.)
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When Dean Kamen talked about how the segway would change the shape of cities, this is what he was talking about. It was just that the segway was WAY too expensive to get mass adoption. Ride sharing, and to a much larger extent, transportation sharing (bikes, scoots), do it.
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Living in Montreal it was the 8th closest corner store (Dep) that sold Diet Dr. Pepper. It was also less than one long New York block away.
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Apps give me much of the benefit of living next to several grocery stores, a wash-and-fold laundry and dry cleaners, etc etc for a small premium Actual self driving cars will flatten real estate markets like a mofo
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Scooter apps too I would think
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