> The new law merely causes Uber to share more of its profits with the drivers. If you actually use the microeconomic model of supply and demand curves that yo

> The new law merely causes Uber to share more of its profits with the drivers. If you actually use the microeconomic model of supply and demand curves that you refer to when you talk about “elasticity of demand”, you’ll see that it is by no means clear that it will cause Uber to share “more of its profits” with the drivers. It all depends on shapes of the supply and demand curves, and the exact amount of minimum wage. You might very well find that the total amount of money paid by Uber to its drivers is reduced, as a result of fewer rides being taken because of higher prices of rides. To know the actual outcome, you’d need the data that you don’t have, and that Uber only partially has. However, you seem very confident about the actual outcome, almost as if you assumed it before making an argument to justify it.