The internet has radically changed so many industries, but who would have thought it would transform the Taxi business? The company Uber is causing a stir across the world. Uber uses the internet to connect private cars with people paying for a ride. People request a ride through the internet and pay in advance so no financial transaction occurs after the ride ends. The cost of using the service is substantially less than using a taxi service. As a result, this concept has become popular across several cities in the U.S and is now spreading across Europe. As expected though, taxi drivers are not sitting idle. Taxi driver protests have taken place in many cities with one of the latest ones in London. Unfortunately I think that the taxi business is going to be having the same issues as the music and book industries have had. Namely, there is no way to win the fight. Once the technology takes hold (and it has) there is no way to beat it and no way to compete and make a profit. Be prepared to see the taxi business change right before our eyes.
What do you think?