More Trouble for Uber in New York
New York, the largest American market for Uber, is now the first major US city to put a cap on the number of ridesharing vehicles for Uber, Lyft and others. The New York City Council approved the package of bills on Wednesday, which calls for a one-year pause on new ride-hail vehicle licenses as the city is experimenting with ways of reducing traffic congestion. Not only this, it also ensures that the rideshare drivers earn a minimum wage of $17.22 per hour.
This regulatory move may set a precedent for other cities looking to regulate Uber. Meanwhile, Uber and Lyft have warned users that this inhibitory move may shoot up prices and increase wait times for the riders. While this means more struggle for users, it also ushers in the best time for entrepreneurs to start their own taxi booking services.
While the growth of Uber, Lyft is strictly regulated under this 12-month period, the opportunity to capture the rapidly growing market share in New York and other major cities globally has caught the eye of entrepreneurs looking to start their own ride-hailing ventures. As the biggest competitors struggle with regulatory constraints in New York and possibly worldwide, there has been an all-time high demand for taxi dispatch software development services.
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