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Uber Works

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How hard would it be for taxis to come up with their own response to Uber? Apparently pretty hard. L. Gordon Crovitz writes in The WSJ:

Maybe going on strike wasn’t the best way for London taxi drivers to protest Uber, the Internet-based car service invading from Silicon Valley. When riders couldn’t get cabs last week, the number signing up for Uber soared to more than eight times the normal rate.

Britain’s Skills Minister Matt Hancock posted a wry comment on Twitter: “Does anyone have details of this #Uber app everyone’s talking about? It sounds awesome. I’d never heard of it until today . . .”

Taxi drivers also clogged city centers and airports in Paris, Berlin, Madrid and Milan in demonstrations that mark a new era of digital dislocation. The Internet first undermined the business models of Yellow Pages, music companies and print newspapers by providing digital alternatives. Now online tools like Uber are changing how industries in the physical world operate.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

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