San Francisco largest taxi company Yellow Cab Co-op will file for bankruptcy due to serious financial setbacks. Uber and Lyft were blamed as the root for the Yellow Cab Co-op loose their customers. It because Uber and Lyft offer their service cheaper and more convenient to the customers. The Yellow Cab Co-op also said it is hard to secure their good drivers because the ride-sharing services offer more benefits to the driver with flexible working hours.
On an annual basis over 5 million passengers are transported in Yellow cabs. We used to have more and our goal is to get them back and even more – Yellow Cab President Pamela Martinez
Many local taxi companies have lobbied for legislation to protect themselves against Uber but Uber is too big to be defeated. With the autonomous car being develop by Google and join partnership between Lyft and General Motors, we can see future trends. Slowly taxi drivers will be out of their job (even Uber driver) if they do not improve their service. Blocking ride-sharing service is not going to work and it is impossible to turn down the company like Uber which being valued for $ 60 billion.