[shapov]

  I don't use Uber over taxis simply because I can get the exact same service from a taxi

That's just not true.

Just off the top of my head:

* 3-4 clicks and I have an Uber on its way vs. Having to talk to a dispatcher. Time saved.

* I know ahead of time how much the fair will be vs. at the end of the ride.

* I simply get out of the car once I reach my destination. I don't have to deal with paying, calculating tip, etc...

* Uber cars tend to be newer and in much better condition.

Now, I am not advocating for Uber, but lets not kid ourselves that the two experiences are even comparable from the customer's point of view.

[alkonaut]

I'm talking about where I get a cab where there is app dispatch+ (pre) payment. And no medallions.

Obviously taxi companies that still operate like it's 1990 are going to go extinct - my question was why are they operating like it's 1990?

[brianwawok]

As a monopoly, you usually have no reason to change. You make piles of money with no extra work, why innovate?

Uber/Lyft is eating their lunch. Now they need to innovate or die. Very likely they die at this point.