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Why Does Uber Want to Team Up with Taxis?

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Taxis fill the lower level of the short term parking garage as they wait to pick up passengers at San Francisco International Airport (SFO) on Jan. 30, 2020. (Sam Harnett)

The rise of Uber in San Francisco nearly a decade ago marked the beginning of the end for much of the taxi industry. Taxi companies went bankrupt and drivers struggled to pay off their medallions, pushing many of them into debt. 

But now, Uber sees an opportunity in the same industry it nearly destroyed. Uber has struck a deal with taxi hailing apps in San Francisco and New York that will allow riders to hail taxis through Uber’s app. Some taxi drivers see an opportunity to boost their pay; others are skeptical that the company can be trusted. So what’s really in it for Uber?

Guest: Levi Sumagaysay, Marketwatch senior reporter 


Episode transcript

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