Taxi and cab companies all over the world have been suffering from lack of business and are in constant competition with newer/ more modern cab companies such as Uber and Lyft.

This past Friday the longest running taxi company in Troy, Black and White Taxi, has gone out of business. According to News Channel 6,  David Manny, President of Black & White Taxi Inc stated that “Traditional taxi cabs are in trouble,” and that ride sharing such as Uber and Lyft are to blame.

I remember when Uber and Lyft first came to the upstate market I knew then that cab companies may be outnumbered due to the rules and regulations of the new more modern ride sharing. With newer more modern ride sharing companies it makes it easier, cheaper and faster than traditional cab companies. It sucks because some people will be out of a job and those that are used to traditional cabs will have to now switch to the more modern ways. I’m sure there will still be traditional cab companies around just not as much. For more information visit here.

Enter your number to get our free mobile app
Getty Images