That's fine if you have a choice, which you don't if you live in outer London and want to go a mile or three locally.I know quite a few,although in the current pandemic they've been effectively put out of work.To drive a black cab and do the knowledge takes commitment as well as money ! 50 grand plus for the electric TXE and that's before you go to work.Four years roughly to do the knowledge.Its a massive investment.
Compared to minicabs/Uber who need a car and sat nav and of you go.Self employed blokes against the likes of Uber is a tough call.Your paying for a service,bit like do you use some dodgy DIY person or a professional.How many attacks every week on people getting into unlicenced mini cabs ? Yea I know everyone is always going to go back to Warboys the black cab rapist.One man out of 20 odd thousand drivers.But I'm sure your a lot safer traveling in a black taxi than minicabs.You pay for what you get.
Some Black cab drivers are quick to moan about mini-cabs, yet they are not prepared to cover the work the mini-cabs do.
Mini-cabs are now regulated, although I don't know to what extent.