Rideshare Industry Gets a Lift With New California Regulations

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."