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Uber and Lyft Have Dropped Chicago's Taxi Business By 40 Percent In Three Years

posted 8 years ago by R_Kane (15828)
3 replies | jump to latest

Cab revenues in the Windy City have dropped 40 percent from what they were three years ago because of competition from Uber and Lyft. Taxi passengers per month in the city are currently 1.1 million. They were 2.3 million/month in 2014. 42 percent of Chicago's cabs are no longer operating. I found this information on the Business Intelligence website. It was originally reported in USA Today. I suspect all other major American cities are in the same shape. What will the cabbies do? Get retail jobs? Oh . . . wait a minute . . . .

What program does President Trump have to create jobs for Americans made obsolete by technology? Oh . . . wait a minute . . . .

(New Deal. Oh no! Not FDR! He was a cripple!)

[–] Volley (3441) 8 years ago

Some cities are blocking Uber from coming to town, knowing their taxi cab industry would be a huge target. I don't mind either way, but they need to let drivers keep more of the cash they earn.

[–] R_Kane (15828) 8 years ago

I sympathize with what you say, but how can a city prevent a legal business from opening in their area? What happened to free enterprise? I really am curious. What gives?

BTW, Uber drivers tell me they don't get to keep a lot of the cash; less than they used to, in fact,

[–] MovieManCin2 (26342) 8 years ago

And you're telling us this because......? It's called Capitalism. It's brought more economic freedom to more people than all the other systems combined.

😎