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🔓 NYC Uber & Lyft Lockouts Over?
AutoMarketplace's Dawood Mian speaks about recent developments around Uber & Lyft NYC driver lockouts. Is the recent deal between the Mayor / TLC & the Apps, actually going to end NYC lockouts?
There has been a lot of news and content, we’ve been an active publisher ourselves, about Uber and Lyft restricting access to their driver apps in NYC. These restrictions are often called “lockouts”. NYC driver lockouts have dominated the conversation in TLC driver social media groups and chats since they started in mid-May.
In order to understand why lockouts are occurring, many drivers have been forced to understand what a utilization rate (UR) is and why it even exists. With the recent announcement that Mayor Adams & his TLC have reached an agreement to “drastically reduce” lockouts by Labor Day (Monday, September 2nd), many want to celebrate, but remain equally confused by what it all means.
Are NYC driver lockouts over? Will they be over by Labor Day?🤷
AutoMarketplace’s Dawood Mian discusses recent developments around lockouts and what it may mean for drivers and other TLC market participants, heading into September.
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Table of Contents
0:00 Intro 3:22 Mayor's press release on lockouts (July 31st) 6:17 TLC Chair David Do column on lockout deal 9:44 Important background to lockouts, 10,000+ FHVs 15:00 It's not all Uber & Lyft's fault 16:20 Recent NYC driver protests related to lockouts 17:17 Yellow cab angle to Uber lockouts (Part 1) 18:54 Why utilization rate (UR) is a weird concept 20:20 NYC is unique, that's why UR is not needed 22:10 Yellow cab angle to Uber lockouts (Part 2) 23:41 NYC only place lockouts are happening? 24:56 NYC can control for-hire driver (vehicle) supply 27:28 Latest NYC TLC utilization rate (UR) data 29:40 Supply & demand (simple example) 31:59 Lockouts working? 35:26 Lyft is losing market share to Uber (Part 1) 36:28 Yellow cab angle to Uber lockouts (Part 3) 38:29 Understanding the UR game, Uber is playing 41:09 Uber could kill Lyft via utilization rate (UR) rules 44:54 Keep UR, but raise high-volume (HV) trip threshold 49:37 Explaining our HV suggestion 53:05 Can TLC prevent Uber monopoly? 57:02 Are NYC driver lockouts ending? 1:00:53 Uber vs. Lyft 1:03:21 Uber monopoly, if TLC doesn't act 1:09:09 Drivers, Shareholders? 1:10:37 Final thoughts
As always a very detailed and accurate video. Something has to be done because we are seeing up to 80% decline in revenue since lock outs have began