Proposed TLC rules set to make pre-arranged non-taximeter yellow cab trips permanent, but a lot more might be going on that's not immediately obvious...
Total fare box numbers can be used to create a relevant estimate. We will definitely be writing about that more. Unfortunately, TLC doesn't publish an Uber/Lyft-equivalent yellow cab UR metric
E-hails were taken for granted when they first came out over 10 years ago by a company called Hail-O and the city allowed Uber to come and dominate the e-hail business.
Unfortunately for yellow cabs the street hail has shifted to e-hail and they continue to be two steps behind.
The problem I see with the e-hails from Uber, Curb and ARRO is that more times than not the flat rate fare offered to drivers is less than if it was a metered fare.
The TLC is right on not only one thing, passengers are shifting to e-hail as opposed to street hail but also passengers love to know how much they’re paying for a ride. This is why Upfront pricing is also so popular even though i believe it over charges the passengers
Agree, it's now time for the yellow cab industry to start adopting new tech (looking forward) vs. being stuck in the past. Yes, easier said than done and can understand the historical anger (but what's done, is done now). Now, there appears to be a financial advantage/loophole that taxis can use to gain share
If you want me to invest in a medallion i need to see how much money is being made and unfortunately the ridership isn’t there. Now the question remains, is it the industry itself or is it that they refuse to adapt to modern times?
The city definitely doesn’t help, they had a chance to give yellow cabs an upper hand of they exempt them from the new congestion fee but its clear as day that the city wants the yellow industry to die a slow death smh
Definitely agree, driver earnings is what's going to drive any yellow cab recovery. It's all about how much drivers make with yellow cabs vs. Uber/Lyft/other options. Think an argument can be made if they also made it easier to buy a medallion (financing returns), TLC gives regulatory clarity / enacts sensible regulations, earnings should organically go up and drivers will feel more confident investing in medallion market (if that's not there, they won't take the risk, understandably)
It would be nice to know UR of yellow cabs to determine how good they are doing
Total fare box numbers can be used to create a relevant estimate. We will definitely be writing about that more. Unfortunately, TLC doesn't publish an Uber/Lyft-equivalent yellow cab UR metric
E-hails were taken for granted when they first came out over 10 years ago by a company called Hail-O and the city allowed Uber to come and dominate the e-hail business.
Unfortunately for yellow cabs the street hail has shifted to e-hail and they continue to be two steps behind.
The problem I see with the e-hails from Uber, Curb and ARRO is that more times than not the flat rate fare offered to drivers is less than if it was a metered fare.
The TLC is right on not only one thing, passengers are shifting to e-hail as opposed to street hail but also passengers love to know how much they’re paying for a ride. This is why Upfront pricing is also so popular even though i believe it over charges the passengers
Agree, it's now time for the yellow cab industry to start adopting new tech (looking forward) vs. being stuck in the past. Yes, easier said than done and can understand the historical anger (but what's done, is done now). Now, there appears to be a financial advantage/loophole that taxis can use to gain share
I dont believe that financial advantage will be enough.
If you want me to invest in a medallion i need to see how much money is being made and unfortunately the ridership isn’t there. Now the question remains, is it the industry itself or is it that they refuse to adapt to modern times?
The city definitely doesn’t help, they had a chance to give yellow cabs an upper hand of they exempt them from the new congestion fee but its clear as day that the city wants the yellow industry to die a slow death smh
Definitely agree, driver earnings is what's going to drive any yellow cab recovery. It's all about how much drivers make with yellow cabs vs. Uber/Lyft/other options. Think an argument can be made if they also made it easier to buy a medallion (financing returns), TLC gives regulatory clarity / enacts sensible regulations, earnings should organically go up and drivers will feel more confident investing in medallion market (if that's not there, they won't take the risk, understandably)
Let's see what happens! You could be right.
WoW! Sleeping beauty is on the march!