“There’s something that both the cab companies and state lawmakers need to know. Hastily changing the rules to put ride-sharing companies on the same regulatory playing field as cab companies won’t save that old-school business model. No more than heaping regulations on digital music companies, such as Pandora, saved the record industry’s once cash cow business model of selling CDs… This is just one more example of a legacy industry being disrupted by tech-focused upstarts that have learned how to deliver similar services in a cheaper, more effficient way.”
– Erika D. Smith
Erika D. Smith discussed new ride services Uber and Lyft in her recent column for the Indianapolis Star. Yes, change is inevitable. Or as Greek philosopher Heraclitus once said, “the only thing that is constant is change.” Industries like taxi services cannot expect to regulate Uber out of the picture. This new way of doing business is here to stay and will only continue to take over more industries. See also Airbnb.
Are you staying ahead of the changes in your industry? What technologies are emerging that could potentially disrupt your business? Innovators should be the first to adopt, not the first to file suit.
image credit: Erika Smith LinkedIn
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