New York City's One-Year Cap on Licenses to App-based Cabs
New York’s city council might approve a one-year upper limit on new licenses to ride-sharing cabs such as the ones operated by Uber Technologies Inc.
The official vote is expected to come out on Wednesday, and might see ride-sharing companies face a major restriction - apparently due to some regulators’ fears of an over-congestion of traffic coupled with a crimping of the city’s drivers’ incomes due to a glut in taxis and e-hail services. The count of app-based cars in New York City has gone up to 80,000 up from 12,600 since 2015 – as suggested by the New York City Taxi and Limousine Commission data.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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