Uber and the New York taxi industry have long been rivals, but they’ve recently partnered to allow New Yorkers to order a yellow taxi on the Uber app.
The finance model will be based on Uber’s existing structures and policies including surge pricing.
It appears that Uber’s latest move shows an attempt to work with the very industry that it has been trying to disrupt. Similar ventures have been undertaken in many countries including Spain, Colombia and Hong Kong.
There should be concerns about Uber’s power as it appears closer to obtaining a monopoly than ever before. Uber’s Senior Vice President of Mobility and Business Operations admitted earlier this year that the ‘company wanted every taxi in the world on its platform by 2025’.
Uber’s treatment of its employees remains under scrutiny despite the popularity of the app, however, the Taxi Workers Alliance viewed this latest move as an opportunity to negotiate fair and ‘proper terms for the drivers’.