FYI it takes about 3 years of learning 25,000 London streets to get a cab licence. And they really know it. In 4 years of London I once had a cabbie ask me where my zone 2 50m long alley was I lived on. I gave him the cross st and he was straight there then.
If interested an article on it: https://www.nytimes.com/2014/11/10/t-magazine/london-taxi-te...
Certain places in Zone 1, no problem, but start moving out to zone 2/3 and the number of them about drop off precipitously. Which is where the newer app-based services shine, essentially taking away more from the minicab business (who don't have to complete 'the knowledge') than the cabs.
What a ridiculous waste of time in 2017. That certainly drives up costs unnecessarily.
There was a competitor app (can't recall the name) but most of the drivers said they drove for both. IIRC Hailo took a 10% cut, but all the drivers agreed it was worth it to find fares.
Does anybody really say that? I live in Austin, where we did essentially ban Uber and Lyft, and even then I didn't hear anybody who was for the tougher regulations on ridesharing argue that taxis don't suck.
Uber was thoroughly outcompeted. Slower to get one, four times the price, but I guess the cars were usually Tesla or something similarly fancy.
Ubers were everywhere and most certainly not outcompeted as you suggest, the longest I had to wait was 4 minutes. With a huge expat community not everyone can speak Chinese and being able to input the address ahead of time skipped a lot of mucking around with translation apps when a driver can't speak or read English.