Does someone know the real story? How can a company be fined for disrupting an existing business?
Taxis are regulated and would be barred from operating if they fall out of compliance. this specific story is about taxi licenses which are of limited availability and costs a lot of money to get. Since Uber lobbied the govt for permission to operate without these, their value have freefalled and Uber is compensating the holders of those licenses. That protectionism hasn't stepped up properly the past ten years only…
They're only just now thinking up maybe potentially one day working towards regulating them. https://www.9news.com.au/national/rogue-taxi-drivers-could-b...