How Bolt took 98% of the Riga taxi market, and what independent drivers everywhere should learn from it
According to Latvia’s State Revenue Service, Bolt now controls approximately 98% of the app-based taxi and ride-sharing market in Riga, a near-complete erasure of every independent operator that existed before the platform arrived and priced aggressively enough to make competition unsustainable. The licensed taxi industry in Latvia has publicly described this as a de-facto monopoly. […]