If Waymo could capture 10% of global car miles driven by 2030 then it would have $700 billion valuation

Morgan Stanley analysts Brian Nowak and Adam Jonas say Alphabets Waymo self-driving car unit could be worth $70 billion. Waymo could be a good spin out candidate and that its value is not being taken into account in Alphabet’s current stock price.
They do not believe Waymo or any of the ‘Other Bets’ are currently being reflected in GOOGL’s share price.
The potential $70 billion valuation is based on Waymo holding 1% of global miles driven by 2030 and generating $1.25 in revenue for each mile driven.
Some have forecast that 95% of driving miles could be self driving electric cars by 2030. This prediction was from a Rethinkx forecast reported by Nextbigfuture.
Waymo’s self driving car technology is far in advance of its competitors with 5000 miles being driving between human intervention compared to many others with only one mile before intervention is required.