[Anderkent]

A taxi driver in London can't buy a home on his own income, don't be ridiculous. An uber driver in London can put a kid through college (it's basically free). Both can take vacations.

Anecdotally, uber showing up in London was when I started to use car transport in the first place. It didn't remove me from the customer pool of black cabs - I was never there; most of the time it's competing with the tube / a bus. I would guess the only significant customers moving from taxi to uber are business travelers - but those are rarely motivated by price, and rather it's the convenience of the app that appeals.

GPS killed taxi drivers, not uber; the wage is catching up to the fact that almost anyone could drive a taxi nowadays.