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Photo: Bill O'Leary/The Washington Post via Getty Images

America is overparked. In Los Angeles, for example, there are 9 parking spaces for every car. Nationally, 250 million adults have access to more than 700 million parking spaces. That adds up: The U.S. dedicates an area the size of Connecticut to parking.

The big picture: As an alternative to personal car ownership, self-driving cars will allow cities to be rebuilt around people. Ride-sharing fleets in particular could transform the use of valuable urban real estate, turning the asphalt jungle back into spaces communities can use for anything from dedicated bike and scooter lanes to on-street parklets or even housing.

Today, the average vehicle is in use only 4% of the time. By contrast, studies suggest that self-driving fleets will be in use more than 75% of the time. A more efficient fleet means less time parked — and more space to repurpose. In San Francisco alone, over 50 parklets have sprung up across the city since Rebar Group converted the first parking space back in 2005.

When self-driving cars do need to park (at low-demand hours, for instance), they can do so more precisely than a human. While parking lots currently budget around 325 square feet per car, Audi estimates that self-driving cars will shave as much as 30% off that number, saving roughly 2,000 square miles of parking.

They will also save riders time: In Westwood Village, a shopping strip in Los Angeles, consumers spend approximately 95,000 hours each year circling for parking — that’s 11 years of wasted time, in just one small stretch of roadway.

What to watch: As shared and autonomous vehicles continue to change our transportation choices, we should expect to see the footprint of our cities change with them.

Jody Kelman is director of the Self-Driving Platform team at Lyft.

Go deeper

Maersk CEO: Global businesses should be wary of politics

Photo: "Axios on HBO"

The CEO of the world's largest container-shipping company cautions that international firms have to be careful of taking political stances.

  • What they're saying: "We cannot run a global business if we start to have views on politics in every single country that we are in," Maersk CEO Søren Skou tells "Axios on HBO."
Mike Allen, author of AM
17 mins ago - Economy & Business

Chamber of Commerce CEO Suzanne Clark defends overture to Democrats

U.S. Chamber of Commerce president and CEO Suzanne Clark told me on "Axios on HBO" that the business group was right to endorse vulnerable House Democrats last year, despite the flak that resulted from Republicans.

  • Clark, who took over the top job in March, said those House Democrats "had really helped push business's number one priority, which was the free trade agreement with Canada and Mexico, over the finish line."
  • "All of the Republicans that we work with on tax, on regulation — those people are really, really important to us," she added: "So we have to be willing to have a different coalition on every issue."

Top nuclear watchdog: "We are flying blind" without Iran deal

The head of the International Atomic Energy Agency tells "Axios on HBO" that it's "essential" to have a nuclear deal with Iran because otherwise "we are flying blind."

Driving the news: Director-General Rafael Mariano Grossi sat down with "Axios on HBO" at IAEA headquarters in Vienna, ahead of Iran's June 18 presidential election and a June 24 extension on negotiations seeking to restore curtailed surveillance of Iranian nuclear sites and salvage the 2015 deal.

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