Better than the existing taxi monopoly. The taxi monopoly used regulation to support a monopoly. That's wrong. Less regulation means more competition. Re: ISPs.
But taxis are not a monopoly. There are thousands of cab companies. If you mean they were regulated into some kind of uniform service whose results were suboptimal, ok, but that's not what people tend to call a "monopoly".
What do the 995 taxi cab companies existing outside of my local area do for me if I want a ride? What does there existence have to do with the constraints of local supply?
It is a de facto monopoly within the confines of a metro area where competition is absolutely regulated and limited.
Saying that taxis, who are regulated through medallions, are a "monopoly" is like saying that bars are a monopoly because they are regulated by liquor licenses.
That does not equal a "monopoly" anymore than the sole coffee shop in a small town is a monopoly. When we make these equivalences, words lose their meanings.
Ok monopoly was absolutely the wrong characterization. They are a cartel. ("an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.") Which is a difference of degree.
But your analogy doesn't make sense to me. There's not political or regulatory reason there exists one coffee shop.
And because of this fact, if they abuse their position as the sole coffee shop (raise prices, provide bad customer service, etc.) they will open themselves up to a challenge from another entrant into the (open and free) market.
This is exactly why taxis are a different beast. They are protected from competition. Explain to me how taxi cartels operate in a free market? Or conversely, if you agree that they don't, explain how coffee shops operate under the same conditions?
So somehow, using unbecoming means (anti competitive and illegal) these taxi cos are disallowing other entrants as well as these coffee shops thus controlling their respective industries? Creating a monopoly (i.e with purpose) is not the same as enjoying a virtual monopoly. At least I see daylight.