Rideshare Industry Gets a Lift With New California Regulations

On Wednesday, California became the first state in the nation to adopt rules for ridesharing. Several cities (including New York, L.A., and D.C.) have struggled to tame the bourgeoning industry amid protests by entrenched taxi interest groups.

In another sign that the sharing economy is going mainstream, "California regulators have approved the nation's and state's first rules for fast-growing ride-sharing companies that connect passengers to drivers via smartphones," reports Marc Lifsher. "The Public Utilities Commission voted 5 to 0 to let the services -- such as Lyft Inc., Sidecar and Uber Technologies Inc. -- continue to operate, if they comply with basic safety and insurance requirements."

"The proposed decision gives a greenlight for ride-sharing in California and should set an example for cities and states across the country to provide consumers with a new way to get around, supporters said."

Full Story: California becomes first state in nation to regulate ride-sharing

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