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by WaxProlix 4084 days ago
> Banks are to financial startups what taxi driver unions are to Uber.

Not quite - taxi driver unions are less competitive (in part at least) because they choose not to disregard regulations.

2 comments

Also because they have less money - by many, many orders of magnitude.
They should have disrupted more! Meritocracy, motherfuckers.
* taps the dial of his sarcasmometer, puzzled *

If by "disrupting" and "meritocracy" you mean "break the law" and "kleptocracy"...

HN downvoter herd mentality types can't handle the individuality and personal responsibility of libertarian utopias that Uber and its ilk will usher in, so they fight back with the only tools at their disposal. Stupid laws are meant to be broken, and 'kleptocracy' is a shibboleth, identifying you as a poor (or, worse, a poor-sympathizer).
The laws put in place are not stupid -- they are put in place to protect both riders and drivers against well-known market failures such as information asymmetry and market-for-lemons [1,2]. They may be outdated and in need of revision, but I think it's premature to conclude that Uber has all the right answers.

[1] http://en.wikipedia.org/wiki/The_Market_for_Lemons [2] http://time.com/3592035/uber-taxi-history/

While I agree that many of the laws aren't stupid and should be followed, I can't figure out any justification, other than greed, for restricting supply the way many cities do. If you can, please share.
I was being sarcastic, and if that's not fairly apparent I should probably change my approach; there's a tendency for HN to go full meritechnocrat in these situations and side with whoever seems the most disruptive. I find it obnoxious for exactly the reasons you've posted here, among others.
And because they choose to disregard user experience.