09/04/2012 08:16 pm ET Updated Nov 04, 2012

San Francisco Car Sharing: Cab Companies Want To Put The Brakes On Services

This article comes to us courtesy of The Bay Citizen.

By Zusha Elinson

Tired of waiting for taxis, thousands of San Franciscans have begun paying to hop into complete strangers' cars to get around town. Two startups, Lyft and Sidecar, launched this summer with mobile apps that let passengers use their phones to hitch a ride.

Lyft drivers pull up with a giant pink mustache on their front bumper and offer passengers a fist bump when they get in. The mustaches, according to founder John Zimmer, are supposed to make people smile.

For both Lyft and Sidecar, drivers use their own cars and suggested donations replace set fares. The companies take a 20 percent cut.

They are part of the new "sharing economy" - companies that help people make money by sharing their possessions. Airbnb, a popular website where people rent out their apartments, is now used all over the world.

Visit The Bay Citizen to read the rest of this story.