Justin  Sykes

While plenty of ink has been spilled over the controversies in the states surrounding rideshare companies Uber, Lyft and Sidecar, less attention has been given to the new opportunities that these newly-ubiquitous companies have helped to create. To be sure, rideshare apps are popular with consumers because they offer an innovative twist on an outdated taxi system. But while wildly popular with consumers, these apps also create thousands of jobs and increase revenue for the national and local economies in which they operate.

Over the past few years the rideshare boom, pioneered by Lyft and Uber, has taken the country by storm. Lyft now has thousands of drivers operating in 65 cities in 31 states including the District of Columbia. Uber boasts even higher numbers, operating in 72 cities across North America while also expanding globally to 38 countries. The meteoric rise of these two companies helps underscore how rapidly the global economy evolves – and how antiquated many of yesterday’s antiquated regulatory schemes are in today’s fast-moving, innovation-driven world. In just under four years rideshare services have expanded to cover roughly half of the nation’s population. These numbers evidence the popularity ridesharing enjoys, and the incredible economic promise that this relatively new sector holds – something that statistics are already beginning to bear out.

Justin Sykes

Justin Sykes is the Federal Affairs Manager for Americans for Tax Reform.