All tagged Uber

The Economic Impact of Ride-Hailing Apps on the Taxi Industry

Imagine strolling the bustling streets of a metropolitan city and needing to travel to different places. Aside from subways, you have two options: hail a taxi, or use your phone to book an Uber/Lyft. Undoubtedly, many people would choose the latter. With just a click away, transportation network companies (TNCs) like Uber and Lyft have skyrocketed in popularity, providing consumers with an affordable and convenient way to get around to places. Unfortunately, these services have also had a negative impact on the traditional taxi industry, leading to a loss of jobs, and increasing the risk of monopolies in the transportation industry.