Business
[Post 400] Can The NYC Yellow Taxi Survive Uber And Lyft?
By Sonicericsg  •  July 17, 2023
Summary Yellow taxis are an iconic symbol synonymous with New York. But it’s a tough job with drivers on average working more than 9 hours a day, 6 days a week. Taxi’s have also had to contend with a host of other issues. Medallion prices were artificially inflated in the early 2010's due to predatory lending forcing many owner-operators into bankruptcy. The industry has also been overwhelmed by ride hailing services like Uber and Lyft which launched in New York in 2011 and 2014 respectively. Today roughly 13,000 yellow taxis compete with about 80,000 ride-share drivers....
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By Sonicericsg
Hi everyone, I'm soniceric, my real name is of course not soniceric, it's just Ericsson :) The reason I name this blog as soniceric is a word play on the brand of "sony Ericsson" hence soniceric(geddit?) I am currently a 22 years old nsf who is about to ord soon and receiving a paltry ns allowance of $800 per month. To date, I have managed to save more than 10k and have already use the money for various purpose(emergency fund, peer to peer lending,posb invest saving and stocks, trading etc).
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