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OK, so what do you think of your competitors?. TNCs on Taxis. Taxis on TNCs. 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. In denial, anonymous.
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OK, so what do you think of your competitors? • TNCs on Taxis • Taxis on TNCs
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. In denial, anonymous
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 Anger management
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? Depression, take two apps a day
I can always sell my medallions and become a TNC • If we can’t produce a better service, maybe they can add our circuit Bargaining, go-on add a taxi
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 Accommodation
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 Intell Update • Taxi Research Partners