May 15, 2019 at 03:00PM When rideshare companies like Uber first hit cities, they shook the traditional taxi industry. The value of taxi medallions, or permits to operate taxis, dropped drastically, and lenders that served the industry struggled to stay afloat. Taxis offered professional drivers an established service model and compliance with strict regulations, but consumers still flocked to Uber for its convenience and seamless payments. Rival rideshare company Lyft launched three years later, compounding the taxi industry’s problems. Taxi companies in this competitive market must either innovate their existing models or get off the roads. Those looking to … Continue reading Deep Dive: Can Ride-Hailing Apps Keep Traditional Taxis Afloat?
April 08, 2019 at 02:47PM The government in Australia passed legislation that seeks to stop live streaming of violent acts across social media platforms. As reported last week, the legislation comes in response to the attacks on mosques earlier this year in New Zealand that killed 50 people. Under the terms of the law, penalties can be levied at up to 10 percent of a firm’s top line. There also may be prison sentences in the offing for companies’ executives if such content is not removed in a timely manner. Facebook, of course, had faced criticism over such content and … Continue reading Australia Laws Target Social Media Firms with Fines, Prison Over Streaming Content