A smartphone app in New York that would let people find and hail cabs is being profoundly retarded by the city. No doubt such an app would be of great benefit to people hailing cabs and to individual cab drivers, but a disaster for cab companies (and dispatchers). Is there anything more to this story than cab companies protecting their interest at the expense of citizens, and the the city eagerly using regulation to do this for them?
The established businesses are very good at having to avoid defending their behavior; no matter what they say their motivation is, it's pretty obvious that they're acting exactly the same as they would be acting if they were just defending their interests at all costs. The state liquor control board in Pennsylvania has been doing much the same thing.
Regulation is often the friend of big business.
In the face of uncertainty, buy options.
12 hours ago