I don't think Waymo necessarily needs to build cars, they could try to be Uber, they could try to be FedEx, they could try to be Seamless. I don't really have a good opinion on what they should be, just that I don't think they will make enough money as a supplier to justify all the risk they've taken.

Maybe they can make some deals where they give a company exclusive access to self-driving tech for a given industry for a significant equity stake in that company, but I feel like no-one would really want to take that deal.