Driving people from point A to point B is a commodity. The only reason taxi drivers were able to command a premium was restricted supply through licensing/medal

Driving people from point A to point B is a commodity. The only reason taxi drivers were able to command a premium was restricted supply through licensing/medallions and whatnot. Uber destroyed that, so now competition will drive the prices down to the actual cost of driver wage + petrol/vehicle operating costs. Uber will see their margin squeezed down to nothing because they add nothing of value to the transaction: Any random cab company can buy a dispatch app.