The bad news
Hiring a driver to take you to your destination seems to be the preferred method of transportation. For decades, yellow taxicabs dominated this market. Unfortunately, other ride-hailing services like Uber and Lyft are worrisome for taxi drivers. The competition between them and these services has become increasingly fierce and they’ve been protesting hoping to reclaim a large portion of their market.
Good news for taxis
Today, there are over 100,000 vehicles for hire in New York City alone. 13,500 are yellow taxicabs, 5,600 are “green cabs,” which are known for operating only in upper Manhattan, and the others are vehicles from ride-hailing services.
In August 2018, the City Council of New York City introduced new laws regulating the number of Uber drivers allowed but as Uber has done in the past it’s always looking for and finding new ways to fight such legislation.
Like with all great economic booms there is eventually some stabilization. Many ride-sharing drivers are not satisfied with their average annual income. Earnings are not sufficient enough to afford a comfortable lifestyle in New York City. Regulation adds another problem. The city has to estimate the future use of taxis and ride-sharing services, and allow them to provide adequate transportation.
One nice thing about ride sharing that many taxi companies will not offer is that you have a much larger selection of how you’d like to get to your destination. You can choose the size of the car and you can share the ride with other passengers to make your ride less expensive.