We live in a capitalist society that subscribes to Darwinism’s survival of the fittest: Offer goods and services that consumers want at the right price, and you’ll likely thrive.
Take the opposite approach and get ready to encounter your own extinction event.
In markets all over the world, the taxi business is suffering due to ride sharing options like Uber and Lyft and now those heading up the taxi industry are embracing the decades-old business plan of demanding a taxpayer bailout!
Indeed, in July, a class-action lawsuit was filed by three drivers against the City of Toronto seeking $1.7 billion for investment and income losses.
I’m going to go out on a limb here and predict this lawsuit is a no-hoper, and explain why we can’t afford to reward failure.