One thing I’ve learned over the past 40 years is this: great businesses aren’t built overnight.
They grow slowly. Step by step. Year by year. Sometimes out of sight — and often before Wall Street even notices.
That’s why I’m paying close attention to what’s happening right now inside one of the world’s most successful companies — and why we recommended it in April 2023 in the American Prosperity Report portfolio.
I’m talking about Alphabet, Google's parent company.
Since we added it to our portfolio, its shares have soared by more than 60%.
Now, most people know Alphabet for its advertising empire — Google Search, YouTube, and Gmail. That’s the engine that prints cash. And it's not slowing down.
Others might point to Google Cloud — growing fast, gaining share, and finally profitable.
But tucked away in Alphabet’s "Other Bets" segment is a business that could one day reshape transportation as we know it.
It’s called Waymo.
Source: Waymo
Waymo runs on top-rated, crash-tested vehicles designed for maximum safety with airbags, seat belts, and reinforced structures.
Waymo isn’t profitable — yet. It’s burned through billions of dollars and taken nearly two decades to get to this point.
But if you study the numbers… watch what’s happening on the ground… and understand how breakthroughs go from novelty to normal… you’ll see what I see:
Waymo is reaching its inflection point.
Ridership Is Soaring — and Its Safety Record Is Turning Heads
In mid-2023, Waymo was offering about 10,000 paid rides per week with fully driverless cars.
Fast-forward to now, and they’ve crossed 250,000 rides a week.
That’s not growth. That’s exponential adoption.
In San Francisco, Waymo’s sleek, self-driving Jaguars are now more common than cable cars. In city after city, the same story is unfolding.
Waymo passed 1 million total paid rides in 2023. Then 5 million. Now, in just the first half of 2025, they’ve crossed 10 million driverless rides — and they’re still accelerating.
And here’s what makes this even more impressive: Waymo’s safety record is unmatched.
To date, Waymo’s vehicles have driven over 50 million miles with no driver behind the wheel. And their safety record? It's not even close.
Source: Waymo
Waymo’s self-driving cars have proven to be far safer than human drivers.
A 2025 peer-reviewed study found that Waymo vehicles had a 96% reduction in injury-causing crashes at intersections.
Even more impressive, they showed a 91% drop in airbag deployments compared to regular cars.
That’s not just safer. That’s game-changing.
That matters — because over 100 people die in car crashes every day in the U.S.
If Waymo’s technology can prevent even a fraction of that, it’s not just a business… It’s a revolution in public safety.
Now, let’s talk numbers.
A 100X Opportunity Hiding in Alphabet’s “Other Bets”
According to TechCrunch, in October 2024, Waymo raised $5.6 billion in fresh capital, with Alphabet leading the round and some of Silicon Valley’s biggest names joining in.
That latest funding pushed Waymo’s valuation north of $45 billion.
But some analysts believe that’s just the beginning.
Gene Munster of Deepwater Asset Management projects that Waymo could be worth $350 billion to $850 billion by 2030, depending on how much of the autonomous vehicle market it captures.
And according to Forbes, if Waymo captures just a third of the projected $1 trillion autonomous rides market, it could generate $150 billion in annual profits.
Apply a 30X earnings multiple to that, and you're looking at a potential valuation of $4.5 trillion — more than double Alphabet’s current market cap.
Sure, these are long-term projections. But remember, great businesses in the making often look like this before they change the world.
Waymo’s growth today is built on years of quiet progress.
And just like we saw with Google Search in the early 2000s — or the iPhone in 2007 — the payoff comes fast once the market catches on.
I don’t know the exact day Waymo will become a standalone business or turn a profit.
But here’s what I do know:
They have the lead.
They have the infrastructure.
They have the safest record in the industry.
And they’re winning where it counts — in the real world.
Alphabet’s “Other Bets” might not get the headlines… but Waymo has the potential to become one of the most valuable transportation businesses on Earth.
Have you taken a ride in a Waymo? If you have, I’d love to hear about it.
Send me an email and tell me where and when you rode — and what the experience was like.
Was it smooth? Surprising? A little weird?
Looking forward to hearing your story.
Email me at [email protected].
And follow me on X here for daily updates.
Regards,
Charles Mizrahi
Prosperity Insider
