What we found was in these trips Uber not only quickly over-took taxis in both number of rides and amount spent, but has also increased the over-all market demand for ride services.
Joseph Schumpeter would have had the app on his smart phone;In the 2012 cycle as Uber was just getting started, there were only about 100 Uber rides for less than $100 on congressional campaign filings. This compares to about 2,800 low dollar taxi rides during the same period. Fast-forward to the 2014 cycle and we see a transformation in the market. Uber is now the dominant provider of rides; it is both taking more of the market in the low dollar ride space and expanding the overall market size.
This slice of the ride services market is unique in that the data is closely tracked by the government. But it is a textbook example of disruptive . innovation.To which politicians are usually allergic.