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
Recommended listening and reading:
- The Human Cost of Uber and Lyft: Life in the Dying Taxi Industry
- SF Taxi Drivers Say the Medallion Crisis Is Killing Them, Literally
- ‘There’s a lot of suspicion about what’s Uber really up to’ — Uber is bringing taxicabs onto its platform, here’s how it will work