This utilization of up-to-the-minute information takes full advantage of Uber’s interconnected system. Uber’s platform uses a dynamic payment system, raising fares during times of high demand and lowering them during slower periods. Drivers don’t need to pay tens or even hundreds of dollars for taxi medallions that permit them to drive (although the presence of Uber and other ride-sharing services has since caused medallion prices to drop in some cities) How did Uber’s ride-sharing service disrupt the taxi industry? Need a ride? Thanks to Uber, gone are the days when you’d need to hail a cab on the street - fine if you’re in a busy part of town, not so great if you’re out in a quiet, low-traffic neighborhood - or call up a taxi dispatch to request a ride. What are the secrets to their success? Uber Between the two of them, they have turned the taxi and hotel industries on their heads. Two of the most successful companies driving these customer expectation changes - becoming poster children of this new sharing economy - are Uber and Airbnb. They expect more options and they expect them faster than ever. With the advent of the sharing economy, customer expectations have changed dramatically from just a decade ago.

Companies like airbnb