In spite of the fact that Uber is the most banned company in the world, it thrives for one simple reason: People like it, even if politicians don’t.
Indeed, people like Uber so much that for the first time ever Uber Tops Taxi Use for Business Travelers.
In the three months ended in June, Uber overtook taxis as the most expensed form of ground transportation, according to expense management system provider Certify. Uber accounted for 55 percent of ground transportation receipts compared with taxis at 43 percent.
“Established travel providers will need to adapt quickly or face further market share erosion to the sharing economy,” Certify CEO Robert Neveu said in a statement.
Certify based its finding on the 28 million trip receipts its North American clients submit each year. It does not include receipts from business travelers whose companies use other services to track expenses.
In a few cities, Uber beat out taxis by a wide margin for business travelers. In its home town of San Francisco, 79 percent of rides expensed through Certify during the second quarter were for Uber. In Dallas, 60 percent were for Uber and 54 percent in Los Angeles. Certify noted that it saw rental car transactions drop at the same time.
Here is a link to a Google search for “Uber Banned“. Every few weeks or so, another city or country bans Uber.
The Regulation Rap
The big knock on Uber is that it’s drivers are unregulated. If customers don’t care, what business is it of city officials to care?
Price of Taxi Permits
The real reason cities care is one cities never say: Cities like selling taxi permits for exorbitant prices.
Please check out the going price for a Chicago Taxi Medallion.
There’s a medallion on sale right now for the bargain basement price of $249,000.
That’s the effective start-up cost