The London cabs aren't just a monopoly as in a lot of other places, they have a very strong meritocratic basis. I was extremely surprised when I came to the US and cab drivers expected me to know how to get to my destination. I said to one 'isn't that what I'm paying you for?' and his response was 'I ain't no computer buddy, find it on a map.'
Of course the problem for London cabbies is that cheap GPS makes 80-90% of their knowledge redundant, so their hard-earned skills have literally been automated away. However, there needs to be a better response to this from the tech community than simply dismissing those skills as worthless. After all, it would be foolish to dismiss the effort required to get a medical degree just because of the existence of WebMD. This is more complex than a simple monopoly/disruptive competitor situation.