Judge rules on taxi industry lawsuit: Compete with Uber or die

A state judge has slammed the door on a legal challenge by opponents of Uber, clearing the way for the rideshare giant to run traditional taxis off the road.

In a decision unveiled Wednesday, Queens Supreme Court Justice Allan Weiss ruled that for-hire vehicles could use electronic hails to compete with yellow cabs—something they have been doing well enough to threaten the existence of the iconic 80-year-old industry.

If that means yellow-cab medallions worth a collective $10 billion or so just two years ago become worthless, the judge suggested, so be it.

Whole story here: NYC Rules in favor of open market competition.

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