In 2013, San Francisco taxi medallion sales spiked. More people applied for A-cards in the fiscal year ended June 30 than in 2010, the year Uber launched in San Francisco.
SAN FRANCISCO -- What explains this resurgence in people entering the taxi industry in the city that launched transportation network companies?
Hansu Kim, owner of the Flywheel taxi fleet, says for the first time he is seeing Uber drivers applying to become taxi drivers. He says they realize they can make a higher hourly wage driving cabs than Ubers.
“There is a stigma attached to taxi cab driving. But Uber and Lyft have created a lot more people who would now consider driving as a way to make money,” Kim says.
While taxi drivers’ incomes are still down about 25% since Uber launched, their incomes have started to stabilize, he adds.
Wall Street Journal Digits blog article here