The article explores how two ride-hail platforms compete with each other and public transit in a regulated market. It shows that when drivers can work for multiple platforms, it can lead to lower profits and service quality. This happens because of pricing wars and limited efficiency in matching passengers with drivers. To improve the situation, it suggests discouraging drivers from working for multiple platforms, setting a minimum wage, and having platforms specialize in different services. Ultimately, the platform with better matching efficiency makes more money and provides better service.