Ride-sharing services such as Uber are roiling the transportation industry, causing many traditional taxi and limo services to fear for their very existence. How did all this come about -- and seemingly overnight at that?
According to Paul Nunes, executive director of research at Accenture's Institute for High Performance, Uber, Lyft, and similar services are able to use inexpensive technology to address inefficiencies and customer unrest. The co-author of "Big Bang Disruption: Strategy in the Age of Devastating Innovation" says these companies' apps provide great value by matching supply with demand.
Uber has other technological advantages as well, including the ability to track cars by GPS, have a full profile and background check of the driver, and pay via stored credit card for a cashless transaction. All this, combined with Uber's fantastic growth, is why it's currently valued somewhere in the $17 billion range.
In this video from the International CES in Las Vegas, Nunes explains more about Uber, Lyft, and other big-bang disruptors.