[U6XWpjvdqi4xTPJ]

> When they were starting, taxis had regulatory capture with their de facto monopoly.

That might be true in some areas, but it certainly isn't in others. And nothing was stopping Uber from being a regulated taxi operator. Instead they were just friends using a networking platform to give each other rides (imagine heavy air quotes throughout that sentence)... while the networking platform set the prices and set the costs and took a large cut...

And in reality Uber et al are already far more expensive than taxis were before they took over. They're also subject to most of the same regulation... except the ones that kept pricing down and predictable/plannable... as taxis were, to boot.