3 Things Horrible Things That Could Happen To Ridesharing Industry

If you want to know how fast the ridesharing industry has grown, you could have a look at the current stats and facts about Uber. Of course, when a company becomes the big thing in a particular industry, there is always its rival that has a completely different approach at doing the same thing. This results in forming two groups in the public, each group supporting their own brand. You can take the examples of smartphone market where most people can be categorized as Apple fans and Android fans. The same thing is happening to the ridesharing industry.

There is a huge competition between ridesharing companies right now. Lyft and Uber are facing off for real right now. Both the companies have completely different approaches at offering the same service. Uber is considered more towards the formal side whereas Lyft driver training prepares drivers to cater people who want to “experience” something different during their travel. However, the ridesharing industry is exposed to 3 big threats that could completely change the way this industry works.

3 Things Horrible Things That Could Happen To Ridesharing Industry

Even if one of the three things happens to this industry, it will be a huge blow. Here are those 3 horrible things that could happen to this industry:

It Could See Monopoly

What you don’t want happening to an industry is the formation of monopoly. When there is only one company with very small competitors controlling the whole industry, monopoly is created. When there is monopoly, this particular company that sits at the top makes all the rules. Looking at the present situation, Uber could become the monopoly of the industry in future. Uber has been greatly criticized for raising its prices by huge margins during peak hours and needy times. The company could charge people what it desires when it is the controller of the industry.

The Industry Could Completely Disappear

It seems quite impossible to imagine that an industry at such a peak could disappear completely from the world. However, you cannot predict anything about the fate of any company in the world. Just less than a decade ago people could not have imagined a world without Nokia, but this huge manufacturer of phones has completely disappeared from the scene since the arrival of smartphones. Ridesharing industry is still facing tough times due to many cases against it. The biggest problem for now is the cases this industry is facing from taxi drivers who have lost their jobs because of these services.

Driverless Cars Could Throw People Out Of Jobs

Whether it’s Lyft, Uber or some other ridesharing company, driverless cars would affect the operations of them all. Google is successfully working on its driverless cars right now and some states have allowed driverless cars on their roads too. If safety issues are taken over successfully, driverless cars might be rolling on the road pretty soon. This will throw the people working for ridesharing companies out of their jobs. Uber, the biggest ridesharing company right now, has already stated clearly that it would replace human drivers with driving softwares on driverless cars as soon as that technology is available. Currently, they are constantly working to improve Uber driver skills.