I decided to do something which I haven’t done for a long time and ended up going out late last night. Went to chill out at a bar and didn’t finish until one in the morning. The bar was fun and I had a really good time. However, once I left the bar and wanted to head back, I …
The metered taxi drivers are behaving like they have a monopoly and not rushing for customers. Let’s remember this is a group that complained that life had become harsher because of the ride hailing competitors
There was only one snag to this. Grab drivers have learnt the laws of supply and demand. They are well aware that after midnight, demand for transport goes up and so their rates go up. Like their cousins in the conventional taxi business, they have learnt to wait till after midnight when the rates go up.
The executives at MediaCorp and SPH spent their time snipping at whether readership or viewership was better and didn’t bother thinking of the consumer. So, the consumer decided to value neither readership or viewership and went elsewhere. SPH went from being a listed company to a non-profit at the mercy of the Singapore Government.
However, Uber couldn’t hack competition and surrendered its position in the market to Grab. The end result is that Grab is to all intents and purposes a monopoly and sets the prices as it sees fit. However, the taxi and Grab business is different. The taxi company owns the infrastructure but the taxi driver is a self-employed entrepreneur whose earnings depend on what he or she can get.
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