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Uber is great but doesn’t this lead to a bunch of problems?

I am sure every one of the readers has heard of Uber and most likely, at this point, has used the service. I am not sure I know anyone who doesn’t have the App.

Without question, the service is great and works for so many reasons. Most people I know don’t like much about a cab experience and complain more often than not. For many, the car was small, dirty, and the drivers don’t always provide a nice & comfortable ride.

As we know Uber has exploded, everyone is using it, and the revenue is skyrocketing. No one will argue what I just said, but here is a different angle.

  • Did you ever stop and think about where the business is coming from?
  • Who does it directly effect?
  • How much are cab medallions worth now compared to a few years ago?

I must admit I am a little nervous.

Without question there will be fewer cabs, or at least the same number, but they will make a lot less.

I would suggest that the unemployment rate will go up because of the explosion of Uber, and the value of Cab medallions will be so negatively affected it will have a dramatic hit on business owners.

  • Am I wrong to look at it this way?
  • What am I missing?
  • Is that just how business works?

Please help me sort thru this.

I look forward to reading your comments.

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