When obsolete industries / models / methods become replaced by something better, the best thing that can happen at a macro level is to have them phased out as s

When obsolete industries / models / methods become replaced by something better, the best thing that can happen at a macro level is to have them phased out as smoothly as possible. If that smoothness can also be fast, then you will maximize your economic productivity as well. So this decision is exactly the opposite of what you want... you are going to prolong the inevitable with a market-distorting subsidy. It would be much better to tax Uber and require the funds go to taxi cab retraining scholarships, so that people who couldn't make a living driving a cab anymore have another option. Better yet: send them to customer service school, so that they can work as an Uber driver if they wish to do so.