Uber Will Kill London's Black Cabs

London's black cabs might be the most famous taxi fleet in the world, but their iconic status has been no defense against the march of technology. Now that the unique selling point of London cabbies -- their proficiency at navigating the capital's byzantine street system -- is replicable by any mobile phone that can run Google maps, their days are clearly numbered. While there are sentimental reasons to lament the demise of black cabs, Londoners should treat it as a sign of progress.

In an extension of the trend in major cities all around the world, the arrival of Uber has disrupted London's status quo. License applications to drive an official London Hackney carriage are down 20 percent this year, while the number of applicants to sit "The Knowledge" exam, a prerequisite for getting a badge, have dropped by more than two-thirds, according to Bloomberg reporters Kristen Schweizer and Amy Thomson.