How An Obscure 400 Year Old Law Sparked A $5 Trillion Transportation Revolution

 

Nearly 400 years ago, Parliament passed an obscure law in London, which triggered the start of an estimated $5.7 trillion industry, the estimate of value that Uber puts on all passenger vehicle miles and all public transportation miles in all countries globally.

This 3-page government document set in motion the first regulations in the budding Hackney carriage industry.

At the time, only small innkeepers and their visitors..

had access to the services.

But since then, it’s transformed the way people around the world work and travel every day…

Giving an estimated 540 million people in 2021 the ability to catch a ride anywhere they’d like at a moment’s notice, without owning their own vehicle.

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Από το oilprice.com