Tuesday, April 21, 2015

Too big to fail

If an industry is too big to fail then their security should be resoundingly clear based upon their size. However, it doesn't seem like any industry is too big to fail if they aren't conpetitive. The medallion market seems to be an industry that is coming to a close solely because uber drivers see the opportunity cost of their time and expenditures as less than what a standard taxi will charge. There are some draw backs with uber, such as, the direct contact a person may have with the clients bank account. However, this can be quickly remedied by installing a card swiper with a secured tablet in the back seat and having an account with transact, a program that enables one to transfer funds from one account to another. UAF uses this program in the bursar's office. I'm not quite where this elitist evgeni comes off thinking he needs a bail out because the protectionist measures set up by NY for his taxi company are failing. Maybe he should instead of begging the government for money he should placate those who use his service. Possibly he could set a higher standard or have newer vehicles with fewer smells. Or possibly, he could drive the price so low that the uber price would no longer be an attractive alternative since uber doesn't stabdardiE vehicles and varies operator to operator. Overall it seems like uber found the way to set the price back to equilibrium and the good guys finally win

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