The percentage of eligible youth with a driver's license has dropped from 45% in 2003 to 33% in 2023, largely due to technological advancements. Uber, for instance, has become a preferred mode of transportation for young individuals, offering convenience without the responsibilities of car ownership. CEO Dara Khosrowshahi noted that even his own son refrains from getting a license since Uber provides similar freedom. Uber continues to target the teen demographic with ridesharing options, contributing to its growing popularity and significant revenue increase in recent years.
Uber has long billed itself as an alternative to car ownership, and has not been quiet about its efforts to capture the teen demographic. They've offered a version of the app geared at teens since 2023, and their subscription program, Uber One, allows parents to get rides for their kids.
Khosrowshahi explained that for older generations, getting a driver's license meant freedom - you could finally go where you wanted to go without needing a lift from your parents. These days, Uber delivers that same freedom, he said, without the cost of buying a car, insuring it, and keeping it fueled up.
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