The taxi firms lost income because it wasn't a level playing field.

They played by the rules where Uber's well-known modus operandi in many countries was to skirt the rules or downright ignore them, while using billions of dollars of investor money to undercut the market.

I'm glad they exist to shake up the taxi market, and the rules changes were probably overdue. But I'm also glad uber got fined, because they behaved like pirates here and in many other countries. And I'm glad they didn't succeed in putting everyone else out of business, which seemed to be the play.