LETTER: Uber and Lyft need to make money
Uber and Lyft have gone public. Investors hope the ride-share industry will at last devise business plans that lead to profits.
The taxi moguls have been waiting for this. After surviving the ride-share industry’s low fare attempts to force them out of business, they hope now to compete on a more level playing field. If ride-share trip prices go up to yield profits, taxis can lower prices to diminish the fare advantages of Uber and Lyft.
Drivers, start your engines. The next lap in this race is upon us. And remember long-hauling is still cheating.