What Does Uber’s Loss in London Mean for Future of Ride Sharing?

FEATURING STEVEN HILL – London’s mayor Sadiq Khan this week softened his tone over the ridesharing company Uber. Uber’s new CEO Dara Khosrowshahi wrote an apologetic open letter to Londoners admitting the company had made “mistakes,” after Friday’s announcement by Transport for London (TFL) that it would not renew the company’s license to operate in the city. Mr. Khan said he was open to talks between Uber and his city.

London is Uber’s largest European market but the company has been accused of being overly aggressive in its approach, and failing to deal with sexual assault cases and background checks of its drivers.

Ride sharing companies like Uber are increasingly popular for their ease of use and low fares. But the new economic model that such companies have fostered has hurt the labor force as a whole.

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Steven Hill, a Senior Fellow with the New America Foundation and a Holtzbrinck Fellow at the American Academy in Berlin. He is a political writer and author of five books, including “Raw Deal: How the “Uber Economy” and Runaway Capitalism Are Screwing American Workers” which will be out in paperback next week.