I was surprised to learn this week (I should have already been aware) that France operates seven urban cable cars (or gondolas). Its first was built in Grenoble, at the foot of the Alps, in 1934, and its latest opened in December 2025 in the country's capital region.
Called Câble 1 (or C1), this latest line is 4.5 kilometres long, carries 11,000 passengers per day in 105 gondolas, and connects Villeneuve-Saint-Georges to the Métro Line 8 in Créteil (a southeastern suburb of Paris). The total trip takes 18 minutes, compared to an estimated time of 40 minutes by bus or car.
Importantly, the project only cost €138 million, or about €30.6 million per km, which is about 10-15% of what a subway might have cost based on data from the Grand Paris Express. Estimates for the latter were over €1 billion, meaning it would have likely been a non-starter.
Gondolas are most commonly used to navigate mountainous terrain, but they're increasingly being used in urban settings to stitch together isolated communities. Forty minutes to eighteen minutes is a significant quality-of-life upgrade. I think more cities should be considering cable cars as a possible mobility solution.
Cover photo via Région Île-de-France / Aymeric Guillonneau
One thing that I do not do on this blog is provide investment advice. And this post is certainly not that. But here's an idea and thought exercise that relates to urban mobility. Let's assume you own a personal vehicle that is currently valued at US$30k, and that this car is what you use to go about your daily life. Now imagine that you sold this car today, harvested all of the proceeds, and invested them into the following three companies: Uber, Alphabet, and Tesla. If you did this equally, your US$30k would end up as the following (based on today's share prices and if rounded down):
111 shares in Uber ($89.56/share)
49 shares in Alphabet ($201.42/share)
30 shares in Tesla ($329.68/share)
Then, instead of driving yourself around, you'd put the money that you would have normally spent on insurance, gas, and maintenance toward Ubers and Waymos (assuming Waymo is available in your city). Perhaps you even own a parking spot that could be rented out for an extra few hundred dollars each month. Whatever the specifics, let's just assume that what you used to spend to operate and service your car is now being spent on getting around using ride sharing services. It's a wash. So the only difference is that instead of having US$30k tied up in a depreciating asset, you're now part owner of the above three businesses.
This, once again, is not investment advice. I personally don't know how to make sense of Tesla's current valuation. There's a hell of a lot of optimism being priced in. I'm simply picking these three companies as a way to bet on Waymo's autonomous vehicle program (which is currently in the lead), Tesla's robotaxi promises (which, who knows, could actually materialize), and the fact that Uber might still remain the dominant marketplace for rides (though there's already evidence that Waymo is on track to overtake Uber in San Francisco within the next ~8 months).
It's not clear who will be the primary beneficiary of this shifting mobility landscape. Is Tesla right about
One of the truly remarkable things about Tokyo is that it manages to be both the largest metropolitan area in the world and one of the most livable cities in the world. That's quite an accomplishment. And one of the key ingredients has to be its heavy reliance on rail for mobility. Look at any list of the busiest train stations in the world and you'll find that the majority of them are in Japan.
But what does this mean for the average person living in a city like Tokyo? Well, every 10 years Tokyo does a "person trip survey" that looks at how people get around. And if you look at the last set of results from 2018, you'll find the following modal splits:
33% railway
27% private car
23% walking
13% bicycle
4% other (bus and motorcycle)
This is a big deal. Supposedly this is the highest railway split in the world. But the numbers may be even better than this. According to a recent book by Daniel Knowles, who is a correspondent for The Economist, only about 12% of trips in Tokyo are done with a car, giving the city one of the lowest driving rates in the world. Bike usage is also higher than the above at 17%.
I was surprised to learn this week (I should have already been aware) that France operates seven urban cable cars (or gondolas). Its first was built in Grenoble, at the foot of the Alps, in 1934, and its latest opened in December 2025 in the country's capital region.
Called Câble 1 (or C1), this latest line is 4.5 kilometres long, carries 11,000 passengers per day in 105 gondolas, and connects Villeneuve-Saint-Georges to the Métro Line 8 in Créteil (a southeastern suburb of Paris). The total trip takes 18 minutes, compared to an estimated time of 40 minutes by bus or car.
Importantly, the project only cost €138 million, or about €30.6 million per km, which is about 10-15% of what a subway might have cost based on data from the Grand Paris Express. Estimates for the latter were over €1 billion, meaning it would have likely been a non-starter.
Gondolas are most commonly used to navigate mountainous terrain, but they're increasingly being used in urban settings to stitch together isolated communities. Forty minutes to eighteen minutes is a significant quality-of-life upgrade. I think more cities should be considering cable cars as a possible mobility solution.
Cover photo via Région Île-de-France / Aymeric Guillonneau
One thing that I do not do on this blog is provide investment advice. And this post is certainly not that. But here's an idea and thought exercise that relates to urban mobility. Let's assume you own a personal vehicle that is currently valued at US$30k, and that this car is what you use to go about your daily life. Now imagine that you sold this car today, harvested all of the proceeds, and invested them into the following three companies: Uber, Alphabet, and Tesla. If you did this equally, your US$30k would end up as the following (based on today's share prices and if rounded down):
111 shares in Uber ($89.56/share)
49 shares in Alphabet ($201.42/share)
30 shares in Tesla ($329.68/share)
Then, instead of driving yourself around, you'd put the money that you would have normally spent on insurance, gas, and maintenance toward Ubers and Waymos (assuming Waymo is available in your city). Perhaps you even own a parking spot that could be rented out for an extra few hundred dollars each month. Whatever the specifics, let's just assume that what you used to spend to operate and service your car is now being spent on getting around using ride sharing services. It's a wash. So the only difference is that instead of having US$30k tied up in a depreciating asset, you're now part owner of the above three businesses.
This, once again, is not investment advice. I personally don't know how to make sense of Tesla's current valuation. There's a hell of a lot of optimism being priced in. I'm simply picking these three companies as a way to bet on Waymo's autonomous vehicle program (which is currently in the lead), Tesla's robotaxi promises (which, who knows, could actually materialize), and the fact that Uber might still remain the dominant marketplace for rides (though there's already evidence that Waymo is on track to overtake Uber in San Francisco within the next ~8 months).
It's not clear who will be the primary beneficiary of this shifting mobility landscape. Is Tesla right about
One of the truly remarkable things about Tokyo is that it manages to be both the largest metropolitan area in the world and one of the most livable cities in the world. That's quite an accomplishment. And one of the key ingredients has to be its heavy reliance on rail for mobility. Look at any list of the busiest train stations in the world and you'll find that the majority of them are in Japan.
But what does this mean for the average person living in a city like Tokyo? Well, every 10 years Tokyo does a "person trip survey" that looks at how people get around. And if you look at the last set of results from 2018, you'll find the following modal splits:
33% railway
27% private car
23% walking
13% bicycle
4% other (bus and motorcycle)
This is a big deal. Supposedly this is the highest railway split in the world. But the numbers may be even better than this. According to a recent book by Daniel Knowles, who is a correspondent for The Economist, only about 12% of trips in Tokyo are done with a car, giving the city one of the lowest driving rates in the world. Bike usage is also higher than the above at 17%.
So I think there's a relatively high probability that everyone who owns a personal vehicle would be better off if they did what I am suggesting in this not-investment-advice-don't-do-what-I-write blog post. In other words, if we freed ourselves of the old ways and made some bets on the future. And that's ultimately the purpose of this post. It's so that you and I can come back to it on August 10th, 2030, and see how I did with my prediction. The reminder has been set.
Cover photo by Artur Aldyrkhanov on Unsplash
Whatever the exact numbers are, it is clear that there's a heavy bias toward rail and other forms of non-car mobility. And you feel that in the city. You feel it in the lack of traffic congestion (which incidentally makes the city feel generally quieter and calmer) and you feel it in the way that density and pedestrian traffic is obviously concentrated around stations.
In the span of a 10 minute walk, you can go from feeling like you are, in fact, in a giant megacity, to feeling like you're in a tranquil community where grade-separated sidewalks aren't even needed because the cars, if any, all drive so slowly. It's an interesting dichotomy that is the result of true transit-oriented development.
On-street parking is also virtually non-existent. According to Knowles, 95% of streets in Japan do not allow it, either day or night.
At the same time, this approach makes it easier to get around by car. We have taken a handful of Ubers on this trip, and they always arrived in a few minutes, and we have yet to be stuck in soul-crushing traffic. It's perhaps ironic that in a city many multiples larger than Toronto, it feels easier to move around. Or maybe it just goes to show you that it's not about how much urban space you have, it's about how efficiently you use it.
So I think there's a relatively high probability that everyone who owns a personal vehicle would be better off if they did what I am suggesting in this not-investment-advice-don't-do-what-I-write blog post. In other words, if we freed ourselves of the old ways and made some bets on the future. And that's ultimately the purpose of this post. It's so that you and I can come back to it on August 10th, 2030, and see how I did with my prediction. The reminder has been set.
Cover photo by Artur Aldyrkhanov on Unsplash
Whatever the exact numbers are, it is clear that there's a heavy bias toward rail and other forms of non-car mobility. And you feel that in the city. You feel it in the lack of traffic congestion (which incidentally makes the city feel generally quieter and calmer) and you feel it in the way that density and pedestrian traffic is obviously concentrated around stations.
In the span of a 10 minute walk, you can go from feeling like you are, in fact, in a giant megacity, to feeling like you're in a tranquil community where grade-separated sidewalks aren't even needed because the cars, if any, all drive so slowly. It's an interesting dichotomy that is the result of true transit-oriented development.
On-street parking is also virtually non-existent. According to Knowles, 95% of streets in Japan do not allow it, either day or night.
At the same time, this approach makes it easier to get around by car. We have taken a handful of Ubers on this trip, and they always arrived in a few minutes, and we have yet to be stuck in soul-crushing traffic. It's perhaps ironic that in a city many multiples larger than Toronto, it feels easier to move around. Or maybe it just goes to show you that it's not about how much urban space you have, it's about how efficiently you use it.
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