(Style guides also say that two spaces is wrong, but they're assuming you're going to be using proportional fonts, so I'll concede they might not be particularly relevant in this case.)
Two spaces after a period is simply archaic, and was arguably never a good idea. It goes back to the days when *manual* typewriters didn't always advance the platen evenly. Typing classes as far back as the early '80s have been teaching students to use one space on electric typewriters (e.g., IBM Selectrics with monospace typefaces) and word processors alike.
I was taught the two-spaces rule in typing class forty years ago, but my younger siblings and my children have all been taught to use one space.
--Bill
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