All that may be true. Human drivers are not the point of comparison. The search business is. Waymo will still always be a lower margin business than search for the reasons I enumerated.
Waymo may end up being great business. But it is unlikely to exceed what search is/was. For that reason, press X to doubt GP's claim that Alphabet is undervalued. "IT'S PRICED IN" [1]
It's unlikely to exceed what search was, but transit is a much more reliable bet for continued revenue. I don't think anyone is betting on ad revenue being reliable at Google long term anymore.
