Taxi plates? Bad luck or greed?

I don't know the ins and outs of taxi plates but Ive got a good grasp of it.

So Are the recent devaluations from an investment perspective, simply bad luck or they got greedy???

 

The owners want to cry because for once there is some competition to their overpriced rubbish quality service. And they want the govt to compensate them for lost value as they tied up all their retirement money in plates.

Maybe we should ask the govt to compensate us for lost value in shares or property too. Oh wait no, its called taking personal responsibility for our investment decisions

 

There's no barrier to property or equities investments, taxi plates were a regulated industry which was affected by disruptors. Maybe bike shops should have sought compensation when (m)OFO or the other dockless bike hire companies hit the streets and car hire places being affected by go get & other car share companies with special dedicated parking spaces.

 

Maybe it's worth appreciating just how bad things can become and how quickly,and no different from any other investment..Not luck or greed just they never updated the business model and paid the cost ..

 

Will also need to compensate every Video shop that ever existed

 

Sometimes I find Taxis to be easier. You just walk out the door (city) and get in. No need to book, wait and run across the road to find the right Uber.
During peak times taxis are in fact cheaper too!

 

Bad luck that gov didn't destroy uber ..... Should of in my opinion, gov capitulated to external corp...taxi had to provide services to disabled where as uber didn't and could ban you for using service - hell taxis couldn't offer app with same functionality due to regulation...cherry picking clients etc. Looking forward to uber demise, they've really not got much of a product to be honest and burning vc cash at an alarming rate (all but end of car automation = not really much of a business model)

 

You know most dockless bike hire companies went bust about a week or so ago?
oBike goes into liquidation amid mounting complaints

So bike shops are going to be fine, or thrive.

Uber certainly has challenges in India and other places:
Uber's Biggest India Challenge Is Itself

I think Uber will be a business to watch.

 

The risk vs reward towards the end would not have made much sense.

 

Uber was an illegal business activity and the govt failed to stop it.

If an ordinary citizen tried to do a uber, they would have been thrown in jail if they persisted.

Unrestricted taxi plates in Sydney are going for 155K

131008 Taxis

I reckon they would be 700K if Uber weren't around.

 

Interestingly CAB cabcharge shares have started to rise again. Up circa 50% in the last 5 months.

 

I've only experienced poor services in Taxis while finding Uber quite good and much cheaper. If I call an uber it comes, which isn't the case with pick and choose taxis.

The reason Uber exists is because of how bad taxis are. It is bringing in innovative ideas such as pooling that will be better for the environment and reduce traffic. What are taxis doing?

Yet you want it back to the good old days when taxis were a monopoly allowing them to charge exorbitant amounts including ripping people off (I've experienced this first hand multiple times) whilst providing a generally poor service.

Competition makes things better. Let's hope taxis can reduce the ridiculous red tape and start competing to improve the service to a level Uber has proven it can be.

Why should I pay a six figure sum for a license plate when at any time most of the garages in the country have a car sitting there unused?

 

I think people on here are misinformed about the nature of taxi plate.

taxi plate is a regulated investment, it is an investment where the government control the release of plate and pretty much set price for it, so when people buying a high price for a plate it is with that knowledge that it will be regulated and controlled so their high price investment is some what protected.

Then Uber came a long and broken all the rules and the government failed to do their job to keep up their promises so these people deserve compo.

now if you want to compare taxi compared it to NRAS, you bought into NRAS for that regulated protection payment then government said nah we stop playing NRAS now, we wont pay the incentives any more, we just build some cheaper housing for the tenants

 

Just wait till driverless cars become a thing... many many industries will suffer... but the world will be a better place.

 

I'm sure there are a few nice ones out there, but there's a reason why taxi drivers get considered scum of the earth. At least in my experiences with them.

 

Because they are required to provide a paid services to all, most importantly to people with disabilities. Uber is not your friend, they are a shady company that attempts to illegally destroy regulated markets with the intention of creating near monopoly like markets, dodge proper employee rights, recklessly endangered people with their poorly tested autonomous vehicles and suck up VC $ when other world changing products would be better funded, . Ignoring all the dodgy stuff they do so you can get a perceived cheaper ride says more about you as an individual than anything else.

 

how?

 

In principle I think the competition uber has brought is a great thing. But I can definately understand why taxi plate owners are frustrated.

Uber brought a business model that was essentially completely illegal. The government was typically slow in keeping up with regulating disruption and by the time they even considered how to treat Uber it was so popular and entrenched that the voting public wouldnt allow them to stop it.

Meanwhile taxi plate owners were/are still held to a high cost restrictive set of regulations while their competitor has free reign. Competition is great but it should be a level playing field.