> Why wouldn't their be licensing?
Do you need a license to hail an Uber? If that Uber became self-driving, why would you need a license? Certainly Uber cars would need to have some kind of inspection, but that's just an extension of whatever inspections exist for road-worthiness.
> Maintenance is a requirement - the tires will wear out if nothing else. Fuel is still a factor - it might not be liquid, but you need some sort of energy.
These are no longer costs born by the driver/rider, but are now aggregated by the car service. Aggregating yields considerable cost savings.
> The advantage of a personal vehicle is 0 wait time. If you are willing to wait the bus is cheaper because you can share the ride with so many other people.
A bus wait takes a minimum of 15 minutes. An Uber arrives within 5 minutes, and with self-driving cars and capacity planning, this can be brought down to some arbitrarily small number if needed. A bus also requires walking to and from stops, which also adds at least 5-10 minutes for most people. That's a big difference, not to mention these are multiplied considerably in rural areas or areas with considerable urban sprawl. And the first few minutes of waiting for an Uber I'm putting on my shoes, jacket, etc.
Walking down to your car takes at least 3 minutes in a condo. If you own a home with driveway, it will still take you 1 minute to walk to your car and start it up (and a few minutes to warm it up if it's winter).
So the advantage of ownership amounts to about 1 minute in winter climates, and maybe 2-3 minutes in warm climates. That's perfectly reasonable tradeoff considering the expected cost savings.
> However at that point there is essentially one car per person anyway
I don't know what this means. My point was that we don't need to build huge parking lots outside of the city for idle self-driving cars to which they would drive to/back when utilization is low, we already have a glut of parking available for a transition to a self-driving world, and all localized within our cities. A self-driving car service would just use all the parking scattered everywhere throughout the city and so have cars available nearby, no matter where you are.