Lyft and Uber say they will leave Minneapolis if the mayor signs a minimum wage bill for drivers::Lyft and Uber threatened to stop doing business in Minneapolis after the city council adopted a new rule Thursday that would set a minimum wage for rideshare drivers.
And whose business plan is to use VC money to undercut existing taxi services and drive them out of business so that they can increase prices to a profitable point (and beyond!).
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Yeah, it wasn’t like the taxi industry was all sunshine and flowers before Uber existed. I cheered them on in the fight for a while before realizing they weren’t my champion but just wanted to replace the existing taxis with their own and had to hike up prices eventually because they were losing tons of money in the meantime.