Taxi drivers from London to Madrid plan to bring traffic to a halt this afternoon, across Europe’s most popular shopping and tourist locations, in protest of Uber, reports Bloomberg. The San Francisco ride-sharing app poses a threat to traditional taxi services globally, as its reach expands to more cities each day.
Uber, with its $1 billion plus funding round and nearly $20 billion dollar valuation, is doubling its income every six months, according to its founder, as it well positioned to continue on its path to world domination.
Unless the traditional Taxi drivers of the world can find a way to shut them down. Currently most of the unions that represent the traditional ride service argue that apart from being disruptive of the industry, Uber is also illegal, as its drivers do not have the proper permitting. Those permits can cost around $275 thousand per year.
"Everyone should play by the same rules,” said Richard Leipold, the chairman of the Berlin Taxi Association, according to The New York Times. “You can’t have competition between someone who pays all their taxes and someone who doesn’t,"