June 28, 2017

Can shared rides save the iconic New York City yellow cab?

NYC Taxi in motion
By The Wordsmith (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Uber’s rise in New York City has been the yellow cab’s downfall. But could an Uber-like feature save it?

In the six years since Uber arrived in the city, summoning a car through an app has become ubiquitous—even more so than hailing a taxi from the curb. Taxis are a tightly regulated industry and their numbers have held constant at 13,587 over the last three years even as the number of cars affiliated with a ride-hailing company has ballooned. In January 2016, there were 28,781 vehicles tied to ride-hailing companies, according to data from the local taxi regulator. This January, there were nearly 50,000, bigger than even the traditional black car industry. Ride-hailing now has the most for-hire vehicles in New York City

In the meantime, the value of a taxi medallion, once a small fortune or at least […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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