Are Ride-hailing Businesses a helping hand or an existential threat to Public Transit?
Ride-hailing services have been nothing less than a boon for daily commuters across the world. These services became an instant success by offering unparalleled speed, convenience, and safety to their customers. And that’s the reason why commuters across the world prefer using on-demand cab booking services instead of public transit.
The history of app-based ride-hailing services is not very long. It all started with a San Francisco based company named Uber which was launched in 2009. Soon, Uber became a shining beacon of on-demand services across industry verticals. Today Uber is valued at more than $78 billion.
Many names like Lyft, Grab, Didi Chuxing, Ola, and many others followed Uber’s footsteps and became ride-hailing giants in their respective regions thus disrupting the transportation sector across the world. However, this rapid increase in the number of ride-hailing players has also given birth to several conflicts and controversies.
The first of them is between ride-hailing services and the traditional cab services as the latter feel that the former has leveraged an undue advantage since they don’t face strict regulation from authorities like them.
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