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Well Uber and Lyft were subsidized by investors and naive drivers — cabbies negitiatee their worth and thus it was a much lower margin experience for consumer.
by nytesky 4y ago
Well Uber and Lyft were subsidized by investors and naive drivers — cabbies negitiatee their worth and thus it was a much lower margin experience for consumer. Eventually when Uber needs to be profitable and drivers demand real wages, all that happened before will happen again. But we will have nice apps at least as we wait.
- theamk 4y agonah, the cabbies had government sponsored monopoly, so they had no incentive to improve. For example NY Taxi Medallion (permission to drive a cab) was sold for hundred thousands of dollars. Even when Lyfr/Uber gets more expensive, there would atill be competition, so it should not suck as much.