According to Digital Trends, New York City is capping ridesharing licenses. The move is seen as dealing a major blow to companies like Uber and Lyft. NYC regulators are hoping to save the city’s integral Yellow Cab system. As such, they are placing a cap on operational licenses granted for Uber and Lyft drivers. Uber and Lyft have threatened Taxicab liveries, stealing a large percentage of their business. The controversy has even led to physical altercations, as drivers have fought for fares.
