"One of the constant challenges in adapting to the impact of new technologies is trying to anticipate the environments produced by innovation.
Take the smartphone, a powerful computer with geolocation capabilities that we all now carry around with us and that facilitated ride-hailing applications, which in turn meant that a service previously the reserve of the wealthy was now available to all. The emergence of companies willing to exploit this new niche improved on the previous technological and regulatory scenario, meaning that in a growing number of cities around the world there is no need to own a car.
Our streets were flooded with vehicles from Uber, Lyft, Cabify, Didi and a host of other companies, while in many cases the incumbent private transportation suppliers have tried to cling on to a model designed for a technological scenario that had been in place for many decades but that had never managed to reduce the growth of private vehicle use."