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Rideshare services cutting into taxi cab bottom lines

Posted at 6:57 PM, Aug 31, 2018
and last updated 2018-08-31 20:01:31-04

In January of 2017, Mike opened up his cab service. But the rideshare companies totaled his company.

Mike had to shut down his cab service because of a major drop in customers. This has been a real struggle for other cab companies.

Cab managers noticed rideshare has taken over the nightlife. However, it’s not just the bar crowds that cab companies are losing business at, the airport has become another battleground.

Rideshare companies are regulated by the state and to be a driver you just send a copy of your license, proof of insurance and information on what kind of vehicle you drive.

There’s also a background check but rideshare drivers pay no fees to sign up.​