It's insane. Thank God for tech companies for disrupting one of the worst industries on the planet. Uber and Lyft are, IMO, some of the best examples of the virtuous nature of "move fast & break things" as a business philosophy.
This all seems to come down to the rates of pay available to drivers getting worse, presumably as the VC money runs out. Thankfully the old cab firms have managed to cling on in the face of years of massive market distortion, and are still there to pick up the slack.
I'm really not fine with that.
These are just two examples from one market.