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The Dark Side of Disruption

UberTo paraphrase CSN&Y: "Four dead in NYC."

As of last month, four New York cabbies had committed suicide because of mounting financial pressures brought about by the explosion of ride-sharing platforms such as Uber and Lyft. And, much of the blame can be laid at the feet of City officials.

Tightly regulated, cabbies used to fight for a limited number of "medallions" that would give them the right to drive a taxi and make $200 a day. Only 13,600 medallions are issued...but, with 63,000 disruptive ride-sharing drivers now on the streets, many cabbies say they're lucky to make $50 a day.

Disruption. It's all shits and grins until somebody shoots themselves on the steps of City Hall.

While we love the convenience and experience of ride-sharing, we can't ignore that there is a dark side to disruption.

Bill Geist

Bill GeistBill Geist

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