Tag: uber

Uber Truce

Long ago, an app / service rolled into New York City and declared war on an institution. A scrappy startup called Uber wanted to usurp the sleepy taxi industry that was the lifeblood of New York. In only a few years, “taking an Uber” became so commonplace, it’s used all the time. People don’t use taxis as much. But with any war, it must end and now, Taxis will join in on Uber’s giant customer base. Andrew J. Hawkins at The Verge has more. Riders will pay the same fare for taxi rides as they would for an Uber X…

The Uber Shortage

It’s no secret that Uber upended the taxi industry and have caused real hardship. The price of NYC taxi medallions plummeted because of ridesharing. Getting around went from standing at the curb with an outstretched arm into tapping some buttons in an app. It’s really convenient but convenience comes at a price. Uber was thought to be rich with cash prior to going public. After disclosing their financials people learned that Uber was subsidizing every single ride in order to keep fares low. They paid good fares to drivers in order to entice them to drive for Uber. It was…