Uber is in the news this morning after thousands of taxi drivers are in cities all over Europe are protesting the San Francisco based taxi service. This morning thousands of commuters have had to find alternative routes to get to work because thousands of cab drivers are protesting against Uber.
Commuters in major cities like Paris, London, and Madrid are facing traffic chaos, due these protests. The taxi drivers all over Europe say that companies like Uber and any other “app” taxi service are breaking the local rules across the European Union.
Four years ago, Uber launched its service and since then the value of the company is above $18 billion which is due to the endorsements by Google (NASDAQ: GOOG) and Goldman Sachs (NYSE: GS). Uber insists that they have complied with the local regulations and those who are protesting merely upset that Uber is dominating in respective cities.
Uber has successfully expanded to over 30 countries and while some regions applaud and welcome the service the countries of the western union are trying their best to eliminate the company.
In places like London and Madrid cabs are more than the form of transportation it is a culture staple. Mick Fitz, a London black cab driver with over decades of experience said this about the Uber service drivers "They're killing us off, starving us out with their taximeter, their apps that they use, their technology, those are taximeters basically, which by law only we are allowed to use,."
In Spain, the Barcelona and Madrid cab unions represent nearly all the cabs in those cities, and they too have scheduled a protest, this protest will be 24hours and will be tougher on the citizens than the other protests. Along with the gridlock, the Spaniard citizens have been warned by the Ministry of Public Works that companies or individuals offering taxi services like Uber will face fines up to $8,000, and if a passenger is caught in the car then they too have to pay a fine that can be up to $800.
Uber’s regional manager for the western countries of Europe gave a statement after seeing the protest in the major cities. He believes that people should realize what is going on, he says "What you are seeing today is an industry that has not faced competition for decades. Now finally we are seeing competition from companies such as Uber which is bringing choice to customers". Whatever the case may be many individuals want these protest to end because the amount of gridlock producing is making commuting unbearable.