Can the Rideshare Industry Re-Invent Itself?

It wasn't that long ago that UBER came on the scene. Now just ten years later they are looking at a possible 120 billion valuation as an IPO. LYFT another Rideshare company started in 2012 now seven years later is valuated at 15.1 billion.

Rideshare companies like Uber and LYFT were borne out of the technological boom that we have all witness in the last 10 years. Companies like Groupon and Airbnb have all become the benefactors of a new era of growth never seen before.
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Rideshare started because of a company (UberCab) in San Francisco came up with an app that could hail a ride using a Smartphone, the rest is history.

Innovation, cutting edge technology, recognizing a need in the market place and seasoned leadership all play a part in creating a successful company.

The question is, can these new innovative companies that have been so successful evolve once again. The answer is obviously yes.

Horse-drawn for-hire hackney carriage services began operating in both Paris and London in the early 17th century. Proof that there is always room for new disruptive innovators.

How can the Rideshare industry re-invent itself?

Where one industry failed to meet the demands of a growing market share another stands ready to take its place. The secret of course is recognizing and understanding the failings of companies like Uber and LYFT and filling that gap.

Where are these possible gaps?

By listening to the complaints of drivers and riders alike opens new opportunities for innovation.

RIDERS

Rider Safety Concerns

Surprising Surge Charges

Unable to travel with small children - Uber and LYFT do not provide child car seats.

Unable to request a driver they like.

DRIVERS

Safety Concerns

Need a better pay structure for drivers. Pays the bills but that is all.

Inconsistent, good as a temporary job but nothing in it for the long term employee.

Unable to create their own book of business to create more consistency.

Disrupting the Disrupters

One such company by the name of TRYP Technologies, Inc. has identified many of these gaps and looks to be on the forefront of becoming a disrupter to the Rideshare industry. Their model not only creates more independence for drivers but answers many of the concerns riders have as well. TRYP Technologies, Inc. is based in Las Vegas, Nevada and promises to become a major disrupter to the rideshare market starting in 2019.