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According to Digital Trends, New York City is capping ridesharing licenses.
The move is seen as dealing a major blow to companies like Uber and Lyft.
NYC regulators are hoping to save the city’s integral Yellow Cab system.
As such, they are placing a cap on operational licenses granted for Uber and Lyft drivers.
Uber and Lyft have threatened Taxicab liveries, stealing a large percentage of their business.
The controversy has even led to physical altercations, as drivers have fought for fares.