How Uber Destroyed The NYC Cab Market

With the way that technology has been spiraling into the lives of so many people in so many different ways, there are a lot of things that would’ve once been quite difficult or required you to put in a little bit of legwork to carry them out but now are accessible at your fingertips. One of those things would just so happen to be getting a ride. Before, you might’ve had the call up a taxi company or go out front and wait to hail a cab, however, with many popular ridesharing apps, one press of a button can have a vehicle waiting for you, potentially at a lower cost.

Now, that seems like something that pretty much everybody would be happy about, however, there are a couple of groups of people who aren’t exactly thrilled that companies like Uber are thriving. Sure, it might seem like a situation where you simply have to adapt to the market, however, when you look at some of the structure of how the argument is built, you can really begin to see both sides of the dilemma here and how it could be difficult to come to some sort of a middleground where everyone involved could be happy.

If you follow along down the video below, you’ll be able to see the argument that the NYC cab market makes against companies like Uber. With high barriers to entry in such a market and the cost of a license for being able operate a taxi cab, you can see where maybe things could be a bit unfair. Exactly how this will all pan out, in the long run, is yet to be seen but as of now, it looks like we have quite the battle on our hands as everybody is trying to get their slice of the pie and do so in the fairest way possible.