Why there will always be cabbies

The sharing economy is growing at a rapid rate, as highly innovative companies transform existing industries or create new ones, such as Airbnb for accommodation or Airtasker for odd jobs. One of the most dramatic changes arising from this movement is occurring in the private transport sector, where ride sharing company Uber has turned existing industry participants and policymakers on their heads. In his monthly Australian Financial Review Smart Investor article Chris Stott our Chief Investment Officer discussed the challenge ride-sharing businesses, such as Uber, pose to the taxi industry. Chris says that he expects governments will protect their taxi income in the face of the industry disruption, meaning cabs will be here to stay, albeit in a much-altered configuration. You can read the full article by clicking here: (VIEW LINK)