And international travelers are not that big of a customer base. There is no barrier to entry in this market. This is why laws like 'medallions' (and following

And international travelers are not that big of a customer base. There is no barrier to entry in this market. This is why laws like 'medallions' (and following corruption) were created in the first place to protect the monopoly and interests of the first cab drivers. This monopoly has led to a mix of expensive prices, poor service and unsafe conditions (with every place having its own local flavor of its mix - in SP is basically just the expensive price; in Rio de Janeiro is mostly the other two). Uber found an innovative way of breaking this monopoly. But... without creating any other barrier except money to keep its prices artificially low. But cheap money doesn't last forever. And Uber is not the only company with access to money in the world. As soon as the competitors stop fighting Uber in the court or in the town halls and start fighting back in the market, Uber's business flaws will show up.