OK, so what do you think of your competitors? TNCs on Taxis Taxis on TNCs

In denial, anonymous Taxi economics are different Uber? Who? Uber does not have a better product than me My city and country have better laws than others in protecting my business model.

Anger management I must not try to run over Travis I can not call the rideshare industry a bunch of a##holes on tv I must stop trying to prevent app technology companies through the courts

Depression, take two apps a day I can not do anything can I? Argh! My drivers are deserting me for apps My rental income is falling, can I increase the rent? My medallion value is falling, can I sell it?

Bargaining, go-on add a taxi I can always sell my medallions and become a TNC If we can’t produce a better service, maybe they can add our circuit

Accommodation Lets revert to the traditional market economics, maybe we really are a competitive industry after all. Price competition should be allowed, hang on, it already is allowed! So we have a shift to a new market equilibrium, maybe the market has expanded after all. Derived demand is not a fixed demand. I don’t have to mimic Uber to compete with them, but I do need an app that is better

Moving Ahead We really need to look at regulations again. If the competition has sidestepped quantity regulation, why do we still have it? If the competition can price without control, maybe everybody should? HOLD TIGHT, medallion values are not an indicator of the strength of an industry, and will eventually have MARGINAL VALUE. Outsmart them! Investment in better demand analysis and supply tools.

Taxi Workshop: Future Taxis? January 11th Washington DC Taxi Intell Update Taxi Research Partners