Uber rescued municipalities from their own failure to understand supply and demand principles; Taxi paid the price
The city had opened a Pandora’s Box when it initiated the restricted entry, equity licensing regime. By the time I entered the business, the city was trying to find a way of extricating itself from this system.
The main problem with extrication was that too many industry participants had invested their lives in the system the city had created. Thus, any move to eliminate the equity plate system was met with strong opposition from those who stood to lose everything they had worked for.
The city opted for a stealth approach.