New York City Temporarily Suspends Issuance of New Lyft/Uber Permits

The City of New York just passed legislation suspending the issuance of new permits to Lyft and Uber vehicles within the city. The move is seen as a way for the city to stem the rising tide of traffic, which has often brought the streets of New York to a grinding halt.

Lyft and Uber argue that the new rule would make matters worse in a city where public transit stoppages have become a common occurrence due to maintenance on the City’s aging public transport systems.

There’s also the issue of suicides committed by no less than 6 NY yellow cab drivers, who cited financial hardships as being the reason. It’s no sheer coincidence that this legislation has come to pass after these incidents and increased pressure from taxi drivers in the City.

As seen from just outside Hyatt Regency Jersey City

MY TAKE:

In my experience, taxis have become the more affordable option when getting around New York City as of late, especially with surge pricing coming into play. 99% of the cabs nowadays accept credit cards and metering can often be cheaper than ride sharing services. The one issue is: good luck trying to hail a cab in Midtown Manhattan because it always seems like they are full or off the clock.

I would argue that city residents wanting to drive for a living or in their spare time will be put at a severe disadvantage after this new law is activated. I was just in NYC a few months ago when I was picked up by a Lyft driver from Pennsylvania who swung over to the City for the weekend to make a few bucks.

Given that NJ is right next to NYC and all the tourists and bar hoppers in the area flock to NYC anyway, I wonder how many drivers will just come over from the Garden State.

I think you can label this as developing news……

As a reminder: If you have the Personal Platinum Card from AMEX (my personal referral link), don’t forget to use the $15 Uber credit per month.

What has your experience with Lyft/Uber been like in NYC? What about public transportation?