From coast to coast and overseas, ride share companies like Uber and Lyft are kicking taxi ass, and taxi drivers are urging governments to impose restrictions on them. But this week, the city of Long Beach, Calif. took the opposite tack: encouraging taxis to operate more like ride share companies.
It’s almost too simple. Because fares and other conditions for the taxi trade are regulated by municipalities, operators can’t move with the market on pricing and ease of use. William Rouse, general manager of Long Beach Yellow Cab, the city’s sole licensed taxi operator, blames the decline in taxi ridership on “increased competition from businesses that don’t face the same regulatory burdens.” Read: Uber and Lyft.
Read the rest of the story on my Forbes Seat 1A site.