OK, so what do you think of your competitors?

TNCs on Taxis Taxis on TNCs

In denial, anonymous

• Taxi economics are different• Uber? Who?• Uber does not have a better product than me• My city and country have better laws than

others in protecting my business model.

Anger management

• I must not try to run over Travis• I can not call the rideshare industry a bunch of

a##holes on tv• I must stop trying to prevent app technology

companies through the courts

Depression, take two apps a day

• I can not do anything can I?• Argh! My drivers are deserting me for apps• My rental income is falling, can I increase the

rent?• My medallion value is falling, can I sell it?

Bargaining, go-on add a taxi

• I can always sell my medallions and become a TNC

• If we can’t produce a better service, maybe they can add our circuit

Accommodation • Lets revert to the traditional market economics,

maybe we really are a competitive industry after all.

• Price competition should be allowed, hang on, it already is allowed!

• So we have a shift to a new market equilibrium, maybe the market has expanded after all. Derived demand is not a fixed demand.

• I don’t have to mimic Uber to compete with them, but I do need an app that is better

Moving Ahead

• We really need to look at regulations again. If the competition has sidestepped quantity regulation, why do we still have it?

• If the competition can price without control, maybe everybody should?

• HOLD TIGHT, medallion values are not an indicator of the strength of an industry, and will eventually have MARGINAL VALUE.

• Outsmart them! Investment in better demand analysis and supply tools.

Taxi Workshop: Future Taxis?January 11th Washington DC

Taxi Research Partners

Taxi Intell Update