Self-driving cars as a target for philanthropy

The cost of driving

Driving causes a lot of damage; in the US alone, each year there are about 2 million accidents, around 30,000 people die, the CDC estimates $100 billion of costs from injuries and lost productivity, and it looks like¬†well over 50 billion hours are spent driving. (Interesting aside: these quantities would all be equal at $2 / hour and $3 million / life, which I believe are relatively close to the average american’s actual reservation prices.)

Another way to estimate the size of losses from auto collisions is to look at the auto insurance industry, which has revenues of around $180B, of which more than 2/3 goes to claims. Claims and CDC estimates seem likely to be (highly correlated) overestimates for damages, but I think the ballpark figure of $100B in damages, 30,000 lives, and 50 billion hours is probably about right.¬† Read the rest of this entry »