MIT researchers have concluded that if ride-share vehicles replaced New York City taxis, 11,000 vehicles would be taken off the roads.

How they did it: The researchers used data from 3 million taxi rides to create an algorithm to simulate in real time conditions like wait times, vehicle capacities and travel delays. The study found that with services like UberPOOL and Lyft Line, 3,000 four-passenger cars could handle 98% of the capacity of 14,000 NYC cabs with an average wait time of 2.7 minutes.

Why it matters: Ride-share companies have fought against regulations in cities on the grounds that their services bring convenience and better service to the public. Now they can bolster their arguments by citing diminished congestion and environmental benefit.

The other side: The Metropolitan Taxicab Board of Trade has argued that, considering the taxes and fees cabbies have to pay, taxis generate more revenue for New York City than Uber or Lyft.

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Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 30,306,469 — Total deaths: 948,147— Total recoveries: 20,626,515Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 6,705,114 — Total deaths: 198,197 — Total recoveries: 2,540,334 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.

Court battles shift mail-in voting deadlines in battleground states

Illustration: Sarah Grillo/Axios

Michigan joins Pennsylvania in extending mail-in ballot deadlines by several days after the election, due to the coronavirus pandemic and expected delays in U.S. Postal Service.

The latest: Michigan Court of Claims Judge Cynthia Stephens ruled that all ballots postmarked before Nov. 2 must be counted, so long as they arrive in the mail before election results are certified. Michigan will certify its general election results on Nov. 23.

Ina Fried, author of Login
41 mins ago - Technology

Interview: Unity CEO explains his company's unusual IPO

CEO John Riccitiello virtually ringing the NYSE bell as Unity shares began trading on Friday. PhotoL Unity

Unity Technologies was just one of many companies with blockbuster IPOs this week, but it took a decidedly different approach, using data rather than handshakes to decide who got to invest and at what price. CEO John Riccitiello explained why in an interview with Axios.

Why it matters: Traditionally, bankers and companies set IPO prices based on conversations and expectations, a process that has been criticized as basically leaving money on the table.