This will be a win-win for everybody.
It's like when Apple came out with the iPhone. At first, the competitors resisted it as they had such high margins and near total control of the platform with their "feature phones". But they quickly realized that they needed to adapt to the app driven platforms of iOS and Android to survive and turn over control to the end users. Those that didn't move fast enough (i.e. Blackberry) did not fare well.
We are going through the same thing with the cable industry. People don't want to have 500 channels forced down their throats. They want to cherry pick and only pay for the channels they want. Netflix and Hulu are leading the way, along with Apple TV and Amazon Prime.
It’s not the taxi industry that needs to adapt, it’s the cities and their fee structure.
The license to drive a cab - the medallion - is super-expensive.