My oldest son is going on Monday to get his G driver’s license. They used to call it the “365”, but it’s a new system now. Looking back at how things are different today for young potential drivers vs. decades past is interesting, even in the context of investment opportunities.

Today, his generation is very comfortable with Uber to get them around, as well as public transit. Very few of his 16-year-old friends, all living in Toronto, yearn to get their driver’s license like in previous generations. Who needs to drive to see their friends when they can just be on group social platforms and interact?

I wish I had an actual photo of my first car, that I bought with my own money. It was an early 1980s “crap-box”: a rusting 4-speed Volkswagen Rabbit. I think I paid $500, and it got towed away for scrap in less than 18 months for 60 bucks, so net cost $420! So, it was a great purchase if you look at it on a per-month cost. From there, I bought another “classic”: the Hyundai Pony–similar snack bracket, similar life expectancy. The picture up top is the exact colour my Rabbit was.

As investors, that’s why we own some of the companies that are powering this generation of cars: from data storage for self-driving, computer chips in the cars, and other new-generation technologies… Many of the companies in our portfolios are providing the services and infrastructure for the future.

I’m not even sure if my son will actually save up the money to buy his own car, as there aren’t really sub-$1,000 cars available to purchase anymore, I don’t believe… I haven’t even looked at the insurance, but not looking forward to that.

With all the subsidies in North America for electric cars or hybrids seemingly being removed, who knows – maybe he will buy a used electric car as his first one, as they are currently at a much bigger discount than gas-powered ones. (I just hope it lasts more than his dad’s 12-24 months lifespan).

There will be a “back-to-school post” before the Labour Day long weekend. Enjoy the last few weeks of the summer, and as always, we are reachable for contact on various summer projects.

Have a great weekend!