[yardie]

Uber is competing with the minicabs in London. The black cabs are in a different, heavily regulated market; more knowledge (roads and traffic patterns), reserved lanes, and availability catered to central London.

I've spoken with Uber drivers that used to be minicab drivers. They used to pay weekly rent on the GPS/meter/radio they are required to use. 200£/week + petrol + insurance + maintenance really adds up.

Black cab drivers come from the pool of minicab (and now Uber) drivers. To become a black cab driver requires passing the knowledge and to learn it you need a lot of practice. Only practical as a minicab or hired driver.