Lyft Threatening Taxi Companies in Another South Dakota Town
The world is changing drastically around us. New concepts are arising so fast, people talk about them and even invest in them before they even understand what they are. Things like Bitcoin.
Now let's turn to one of the latest regarding transportation. In the past it was as simple as just grabbing a cab. But now there's Lyft.
Lyft is similar to a taxi service, but a customer hails the cab through an app on their smartphone and pays with a credit card. It is vastly becoming quite popular in our culture.
So what is this doing to the taxi industry? We recently reported that eight taxi companies in Sioux Falls were calling it quits because of Lyft.
Now another South Dakota town opens the door for the same thing. The city of Mitchell opened the floodgates to Lyft drivers Monday night at City Hall.
The Mitchell Daily Republic reports that the city council voted 7-1 to approve a taxicab license for a Lyft driver, over the objection of local taxi service owner Art Streetman.
Streetman said his company and two other businesses likely will fold if Lyft comes to town.