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 7 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 12,118,667 — Total deaths: 551,271 — Total recoveries — 6,649,930Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,081,383 — Total deaths: 132,570 — Total recoveries: 953,420 — Total tested: 37,431,666Map.
  3. Public health: Cases rise in 33 statesFlorida reports highest single-day coronavirus death toll since pandemic began.
  4. Science: World Health Organization acknowledges airborne transmission of coronavirus.
  5. Travel: Young adults are most likely to have moved due to coronavirus.
24 mins ago - World

China's extraterritorial threat

Illustration: Aïda Amer/Axios

All multinational companies and executives need to worry about breaking U.S. law, no matter where they're based or doing business. Now, they need to worry about Chinese law, too.

Why it matters: The projection of U.S. norms and laws around the world has been an integral (and much resented) part of America's "soft power" since 1945. As China positions itself to replace the USA as global hegemon, expect it to become increasingly assertive along similar lines.

Big Pharma launches $1B venture to incentivize new antibiotics

Illustration: Lazaro Gamio/Axios

A group of large drug companies launched a $1 billion AMR Action Fund Thursday in collaboration with policymakers, philanthropists and development banks to push the development of two to four new antibiotics by 2030.

Why it matters: Antimicrobial resistance (AMR) is a growing problem — possibly killing up to 20 million people annually by 2050 — but a severe lack of R&D market incentives has hampered efforts to develop a robust antibiotic pipeline to address the issue.