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Uber Says Technology Will Disrupt Real Estate

New transportation technologies could dramatically disrupt real estate prices and increase prosperity for under-served populations living outside city centers, top executives of Uber Technologies Inc. and Virgin Hyperloop One said.

Reducing commute time is one of the best ways to extend “access to opportunity,” Uber Chief Executive Officer Dara Khosrowshahi said at an event sponsored by the MISK Global Forum. Khosrowshahi said his company’s rideshare service and others like it provide critical transportation to people in areas without public transportation or regular taxi access.

“Making it ubiquitous, making it affordable for everybody, is an incredible issue,” he said.

Khosrowshahi said he wasn’t concerned that new technologies might also render jobs obsolete, ultimately compounding issues faced by under-served populations. He said drivers for his service “know our system better than I do” and that he believed melding human and artificial intelligence would provide the best product.

Virgin Hyperloop One co-founder Josh Giegel said his company would allow specialty centers like hospitals to be built in areas outside a downtown core and still remain easily accessible.

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