4 ms·
They weren't a monopoly. They created artificial barrier to entry (through the medallion system) but the taxi business is super low margin. For a single city yo
by rainyMammoth 7y ago
They weren't a monopoly. They created artificial barrier to entry (through the medallion system) but the taxi business is super low margin. For a single city you have multiple taxi companies fighting for business. The prices came to an equilibrium close to what it costs to provide a ride.
There is a reason why Uber is losing so much money and why Drivers are barely able to make a living.
- stjohnswarts 7y ago"Drivers are barely able to make a living". In my unscientific polling of uber drivers the majority are either doing it to pick up some extra money or in between "real" jobs. Few plan on doing it for a living.
- traviscj 7y agoI feel like I've noticed a shift in apparent motivation between 2014 and now. I remember a lot of people talking about doing it as a side gig or whatever in the past, but now I hear a lot about drivers working 8+hr shifts, sleeping in their cars between shifts, commuting from 1-3hr away to drive in SF, etc.