The sharing economy is the way of the future. Ridesharing services like Uber have become major players not only in the United States but also in the global economy.
The ridesharing industry has been controlled by the taxi industry and unions for decades, yet these groups have failed to come up with new ideas to make riding in a taxi more attractive to younger riders.
Rideshare services like Uber have taken note and have introduced competition to the marketplace. This response has broken up monopolies that have stifled industry growth for decades.
Uber and other rideshare services challenge the industry to innovate and provide better services to consumers.
A Red Light for Ridesharing in London
Unfortunately for London Uber drivers and riders, London’s transport authority does not necessarily see the benefits of Uber, competition and the sharing economy.
The Transport for London, an arm of the London city government, recently announced its refusal to renew Uber’s operating license in London after its expiration date at the end of September.
This decision comes as a major disappointment to the more than 40,000 Uber drivers and 3.5 million users in London, many of whom are young people.
Uber Accelerates Opportunities for Young Londoners
For students and young professionals living and working in London, part-time work as an Uber driver provides an important opportunity while working flexible hours.
More competition also means better deals for consumers.
Young people understand the benefits that come with more choices. For young Londoners, Uber provides a more convenient, affordable means of transportation than London’s more expensive traditional black cabs.
Without ridesharing services, there is also potential for increased drunk driving incidents. Following new regulations imposed on Austin ridesharing services last year, both Uber and Lyft called it quits and left the city. After the ridesharing services’ departure, the number of DUI arrests in Austin increased by 7.5 percent.
The obscure and arbitrary licensing restrictions issued by the London city government ultimately create unnecessary hardships for young people.
By revoking Uber’s license in London, the city government prevents millions of Londoners from receiving a paycheck from their job as an Uber driver.
This decision also threatens competition, which could lead remaining rideshare companies to increase prices on riders who have no other affordable options available.
Government Roadblocks to Competition
Young people want more choices, not less. The decision to revoke Uber’s license limits consumer choice and leaves Londoners with less options for ridesharing.
Ultimately, Uber’s success or failure should be determined by market demands and consumers who choose to use the service Uber provides or its competition – not from burdensome and arbitrary licensing restrictions issued by the London city government.
Take a stand against unnecessary and burdensome licensing laws today! Sign the petition if you agree.