Taxi license is an investment that comes with investment risks. Uber is disruptive but one has to live with the time. Can u imagine fully autonomous driving then no driver is even needed?
I was living in HK for 3 months. My experience that 40%+ of HK taxi drivers are ... trash. That's why I only call Uber Taxi, 9 out of 10 Uber taxi drivers are very good and polite. Most of Uber taxi are new or good condition. I had no problem to call Uber taxi, usually I just wait for 5 to 10 mins at most. I highly recommend Uber taxi.