Taxi companies across the US waged a bitter, high-profile battle to keep Uber Technologies Inc and Lyft Inc from bringing the sharing economy to cabs. Campolongo was able to do that, in part, because of regulatory changes the ride-sharing companies championed. Uber and Lyft have spent millions of dollars to win approval for their web-based business model in nearly all 50 states. In many cases, this allowed them to escape more onerous regulations put on cab companies, such as background checks with fingerprinting and requirements to carry commercial insurance. Now, cab companies from Phoenix to Pittsburgh are using the new TNC designation to create hybrid companies that can function like traditional cab companies and TNCs.

Source: The Star November 08, 2017 01:30 UTC