In recent years there has been a growing interest in autonomous vehicles. Big tech and car companies are pouring tons of cash into making the dream of self-driving cars a reality. It may sound like we’re finally close to achieving the future we’ve been sold on from countless sci-fi movies, but perhaps we’re missing the mark here. Maybe what we really need is not another fancier car on the road, but more folks on two wheels instead – I’m talking of course about bicycles and electric bikes.
It’s not that driverless cars aren’t without benefits. The idea sounds good in theory, taking human error out of the equation and replacing it with a presumably infallible computer. The problem is that even ignoring the major safety risks of testing out this unproven technology on public streets around unconsenting individuals, you’re still left with an increase in the numbers of cars on the road leading to the same problems cars cause today.
Saying hello to bikes and goodbye to traffic jams
One of the most immediate benefits of increasing the number of cyclists on the road is the significant reduction in traffic congestion.
Bikes take up far less space than cars, and even a modest shift from car commuting to biking can result in a noticeable decrease in traffic jams, leading to smoother and faster travel for everyone.
In contrast, driverless cars, while likely one day capable of optimizing routes and reducing human error, still occupy the same amount of physical space on the road, doing little to alleviate congestion. Their goal is to solve some problems, which they may eventually be able to do successfully. But in doing so, flooding the streets with driverless Ubers will simply create more problems. Just in the way Uber itself was meant to solve many of the problems in the transportation industry, nearly a decade later is has left us with merely more traffic than ever before by incentivizing the filling of roads with an ever increasing number of vehicles.
Your heart (and waistline) will thank you
Promoting cycling not only contributes to cleaner air by reducing vehicle emissions but also encourages an active lifestyle.
Regular cycling has been proven to improve cardiovascular health, reduce stress, and enhance overall well-being. Electric bikes, with their pedal-assist functionality, make cycling more accessible to people of all ages and fitness levels, ensuring that the health benefits of biking can be enjoyed by a broader demographic. On the other hand, the convenience of driverless cars leads to an even more sedentary lifestyle, exacerbating current public health issues related to physical inactivity.
Not everyone can ride an e-bike and not every trip is e-bikable. Far be it for me to call electric bikes a global solution for every transportation need. But the types of trips being performed by driverless cars now are often short city hops and thus are the prime example of an e-bikeable trip.
Stronger, friendlier and more socially-connected communities
When you’re behind glass in a private car, you’re disconnected from the world. But cycling promotes social interaction and a sense of community.
Unlike the isolating nature of cars, cyclists are more likely to engage with their surroundings and with other people. Creating bike-friendly cities encourages a vibrant street life and fosters a sense of belonging and connection among residents.
Not every trip is a chance to stop and chat, but riders tend to be happier, more engaged people because of it. A friendly wave or a chance to say hello on the way to work can be a small mood-booster that does wonders for mental health. As social creatures, isolation is rarely helpful for our minds and bodies.
Supporting sustainable urban development
As urban areas continue to grow, sustainable development becomes increasingly crucial. Prioritizing cycling infrastructure, such as protected bike lanes and secure bike parking, promotes a more efficient use of space and resources.
It encourages compact, mixed-use development that is accessible by bike, reducing the need for extensive road networks and sprawling parking lots. This not only preserves green spaces but also creates more livable, human-centered urban environments. No one has ever said “You know what this neighborhood needs? More asphalt!” A reduction in car dependency means more prioritization on designing cities for people. Two and three lane streets can become single lane streets with a bike lane and wider sidewalks or parklets that add more green space into urban areas.
Yes, this is a street in Amsterdam. But this could easily be a street in the US. It’s all about priorities.
Addressing economic disparities
Bicycles and electric bikes are more economically accessible than cars, driverless or otherwise. And the growing list of e-bike purchase incentives, especially for low income folks, is making them more affordable than ever.
Investing in bike infrastructure and subsidies for e-bikes can help bridge transportation gaps in low-income communities, providing affordable and reliable mobility options. It’s even better for local city governments and municipalities, reducing the economic costs associated with road maintenance and congestion-related productivity losses.
Summing it up
While driverless cars hold the promise of a high-tech, automated future, they are not a panacea for the many challenges facing our transportation systems. Driverless cars are cool, don’t get me wrong. The technology is impressive and undoubtedly holds promise in certain situations that can’t be handled by a bike. But they are primarily being used in areas where bikes could perform the same job in a cheaper, more efficient and arguably safer way.
Driverless cars are not the magic fix for our traffic woes and our health problems. Bikes and e-bikes offer a down-to-earth, connect-with-your-neighbors, get-your-endorphins-flowing kind of solution that driverless cars just can’t match. So how about we give our cities, our health, and our wallets a break and give biking the spotlight it deserves?
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Trump’s Big Beautiful bill becoming law and going after EVs and solar, Tesla, Ford, and GM EV sales, Electrek Formula Sun, and more
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A new Tesla prototype was spotted again, reigniting speculation among Tesla shareholders, even though it’s likely just a Model Y, potentially a bit smaller, and the upcoming stripped-down, cheaper version.
It sparked a lot of speculation about it being the new “affordable” compact Tesla vehicle.
There’s confusion in the Tesla community around Tesla’s upcoming “affordable” vehicles because CEO Elon Musk falsely denied a report last year about Tesla’s “$25,000” EV model being canceled.
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The facts are that Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla” in early 2024. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.
Instead, Musk noticed that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as the Company faced demand issues. Therefore, Tesla canceled the vehicles program based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.
We previously reported that these electric vehicles will likely look very similar to Model 3 and Model Y.
In recent months, several other media reports reinforced this, and Tesla all but confirmed it during its latest earnings call, when it stated that it is “limited in how different vehicles can be when built on the same production lines.”
Now, the same Tesla prototype has been spotted over the last few days, and it sent the Tesla shareholders community into a frenzy of speculations:
Electrek’s Take
As we have repeatedly reported over the last year, the new “affordable” Tesla “models” coming are basically only stripped-down Model 3 and Model Y vehicles.
They might end up being a little smaller by a few inches, and Tesla may use different model names, but they will be extremely similar.
If this is it, which is possible, you can see it looks almost exactly like a Model Y.
It’s hard to confirm if it’s indeed smaller because of the angle of the vehicle compared to the other Model Ys, but it’s not impossible that the wheelbase is a bit smaller – although it’s hard to confirm.
Either way, the most significant changes for these stripped-down, more affordable “models” are expected to be cheaper interior materials, like textile seats instead of vegan leather, no heated or ventilated seats standard, no rear screen, maybe even no double-panned acoustic glass and a lesser audio system.
As previously stated, the real goal of these new variants, or models, is to lower the average sale price in order to combat decreasing demand and maintain or increase the utilization rate of Tesla’s current production lines, which have been throttled down in the last few years to now about 60% utilization.
If this trend continues, Tesla would find itself in trouble and may even have to close its factories.
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CANNES — Wall Street’s new plumbing is being built on Ethereum and this week its architects took over the same French Riviera villas and red carpet venues that host the Cannes Film Festival in May.
The Ethereum Community Conference, or EthCC, took over the beachside town that was swarming with crypto founders, developers, and some of the institutional giants now building atop the infrastructure.
The crypto elite climbed the iconic red-carpeted steps of the Palais des Festivals — a cinematic landmark now repurposed as the stage for Ethereum’s flagship European event.
“The atmosphere this year was palpable in Cannes,” said Bettina Boon Falleur, the powerhouse behind EthCC for the past seven years. “The prestige of the location, combined with the quality of talks, has reinforced Ethereum’s stature and purpose in the wider ecosystem.”
Private parties sprawled across cliffside estates and exclusive resorts, but the conversations were less about price action and more about the blockchain’s evolving role as the back-end of global finance.
EthCC, now in its eighth year, has tracked Ethereum’s trajectory from scrappy experiment to institutional backbone.
“That impact was unmistakable this year,” Falleur said. “From Robinhood embracing decentralized finance infrastructure via Arbitrum to local governments like the City of Cannes exploring deeper integration with the crypto economy.”
Indeed, one of the boldest moves came this week from Robinhood, which became the first publicly traded U.S. company to launch tokenized stocks on-chain.
At a product showcase held inside a Belle Époque mansion overlooking the sea, Robinhood unveiled a sweeping new crypto strategy — including the ability for European users to trade tokenized U.S. stocks and ETFs via Arbitrum, a Layer 2 network built on Ethereum.
The announcement helped push Robinhood stock past $100 for the first time, capping off a week of fresh all-time highs and a more than 30% rally since being snubbed by the S&P 500 during a recent rebalance.
Inside the Palais des Festivals, ETHCC draws founders, developers, and institutions into the same halls that host the world’s biggest film premieres — this time, for the future of finance.
MacKenzie Sigalos
Ether, the token native to the Ethereum blockchain, was up nearly 6% on the week and several public equities tied to the blockchain have rallied alongside it.
BitMine Immersion Technologies, a company that mines bitcoin, gained more than 1,200% since announcing it would make ether its primary treasury reserve asset. Bit Digital, which recently exited bitcoin mining to “become a pure play” ethereum staking and treasury company, gained more than 34% this week. And SharpLink Gaming, which added more than $20 million in ether to its balance sheet this week, jumped more than 28% on Thursday.
Ether ETF inflows are rising again too — a sign that institutional investors are warming back up.
Ether is still down more than 20% this year and lags far behind bitcoin in market cap and adoption. But funds tracking ETH have seen two straight months of mostly net inflows, according to CoinGlass data. Still, ether ETFs total just $11 billion — compared to $138 billion in bitcoin ETFs.
Institutions aren’t betting on Ethereum for hype — they’re betting on infrastructure.
Even as prices stall and the network faces headwinds from slower base layer revenues and faster rivals like Solana, the momentum is shifting toward utility.
“Ethereum is getting plugged into these core transactional systems,” Paul Brody, global blockchain leader at EY, told CNBC on the sidelines of EthCC. “Investors, savers, people moving money — they are going to start shifting from some of the older mechanisms of doing this into Ethereum ecosystems that can do these transactions faster, cheaper, but also very importantly, with significant new functionality attached to it.”
Crypto founders and developers climb the iconic red-carpeted steps of the Palais des Festivals — a familiar backdrop for the Cannes Film Festival, now repurposed for Ethereum’s flagship European event.
MacKenzie Sigalos
Deutsche Bank recently announced it’s building a tokenization platform on zkSync — a faster, cheaper blockchain built on top of Ethereum — to help asset managers issue and manage tokenized funds, stablecoins, and other real-world assets while meeting regulatory and data protection requirements.
Coinbase and Kraken are also racing to own the crossover between traditional stocks and crypto.
Coinbase has filed with the SEC to offer trading in tokenized public equities, a move that would diversify its revenue stream and bring it into more direct competition with brokerages like Robinhood and eToro.
Kraken announced plans to offer 24/7 trading of U.S. stock tokens in select overseas markets.
BlackRock‘s tokenized money market fund, BUIDL — launched on Ethereum last year — offers qualified investors on-chain access to yield with redemptions settled in USDC in real time.
Stablecoins, meanwhile, continue to serve as the backbone of Ethereum’s financial layer.
“The builders and contributors at EthCC aren’t chasing the next bull run,” Falleur said, “they’re laying the groundwork to make Ethereum home for the next billion users.”
Even as newer blockchains tout faster speeds and lower fees, Ethereum is proving its staying power as a trusted network.
Vitalik Buterin, Ethereum’s co-founder, told CNBC in Cannes that there is an assumption that institutions only care about scale and speed — but in practice, it’s the opposite.
Ethereum co-founder Vitalik Buterin delivers a keynote at ETHCC, laying out the network’s next steps — and its values test — as institutional adoption accelerates.
EthCC
“A lot of institutions basically tell us to our faces that they value Ethereum because it’s stable and dependable, because it doesn’t go down,” he said.
Buterin added that firms often ask about privacy and other long-term features — the kinds of concerns that institutions, he said, “really value.”
Tomasz Stańczak, the new co-executive director of the Ethereum Foundation, said institutions are choosing Ethereum for the same core reasons.
“Ten years without stopping for a moment. Ten years of upgrades, with a huge dedication to security and censorship resistance,” he said.
He added that when institutions send orders to the market, they want to be “absolutely sure that their order is treated fairly, that nobody has preference, that the transaction actually is executed at the time when it’s delivered.”
Those guarantees have become increasingly valuable as stablecoins and tokenized assets move into the mainstream.
Ethereum’s core values — neutrality, security, and censorship resistance — are emerging as competitive advantages.
The real test now is whether Ethereum can scale without losing its values.
“We don’t just want to succeed,” Buterin said from the mainstage of the Palais this week. “We want to be something that is worthy of succeeding.”
He said the hope is that future generations will look back and see a network that truly delivered openness, freedom, and permissionless access to the masses.
White-clad guests dance poolside at the rAAVE party in Cannes.
MacKenzie Sigalos
But the week didn’t end in the conference halls, it closed with tradition. On the balcony of Villa Montana, overlooking the Bay of Cannes, the rAAVE party lit up.
White-clad guests sipped cocktails as the DJ spun by the pool, haze curling from smoke machines.
This year, Chainlink co-founder Sergey Nazarov and DeFi icon Stani Kulechov, founder of Aave, stood atop the balcony overlooking the crowd and the light-dotted skyline of Cannes.
It was a fitting snapshot of the momentum behind Ethereum’s institutional rise and symbolic of Web3’s shift from niche experiment to financial mainstay.