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  1. Oct 2024
    1. According to the latest data, there are now more than 100,000 ride-share vehicles in New York City, and Manhattan’s streets have never been harder to traverse. Ambulance response times are getting measurably worse by the month. A recent Times article described a taxi ride from the Port Authority to the Museum of Modern Art — about 11 blocks uptown and two avenues over — that took a half-hour. It described a study showing that more than half the cars on the road are for-hire: the city’s iconic yellow cabs now engulfed by an anonymous fleet of sedans and S.U.V.s summoned seamlessly through apps, serving the market so well that the streets have nearly ceased to function.

      Congestion effects. One thing a regulator (e.g. taxi cab controller) may manage better than the "market" given it is an obvious externality.