Unintended side effect of this is to prevent competitive entry. No other TNC will be able to achieve enough density from day 1 to run at the wage floor without

Unintended side effect of this is to prevent competitive entry. No other TNC will be able to achieve enough density from day 1 to run at the wage floor without huge amounts of VC. That alone should make people suspicious of this legislation. In the long run, this is really, really good for Uber/Lyft.