It isn't lack of capital or brains that prevented the taxi indistry before and after uber to provide the same service but beneficial to their interests. After all these years they are not even trying to compete with Uber they just want things to go back to the way they were where consumers are taken advantage of or discriminated against. Like it or not, Uber is more accessible to all types of consumers not just the ones drivers think will tip the most, they have better background checks and uniform and scrutinized safety controls and providen a viable primary or secondary income to drivers.
The local laws and regulations should get out of the way and enable what uber is trying to do with or without Uber. The livelihood of taxi drivers is not the law's problem, the well being od consumers and the economy however is. An outdated business model should not be put on a respirator by politicians. I am of the opinion that traditional taxi system with medallions and all that should be done with. Anyome who provides consumer transportation can compete fairly with Uber and pals.