Really? "the valley"? I think you'd be closer to the mark if you said it's true in most major metro areas. That still leaves many other markets, but the ubiquity Uber/Lyft is hardly a Silicon Valley only phenomenon.
Ubiquity of Uber/Lyft is a phenomenon across the world, but not all the markets are as flexible on the price. I question the premise that the markets will respond mildly to a significant price increase in most places. The valley just has a high density of high earners who are willing to pay the sort of price Uber would have to set for competing successfully with drivers making decent pay.
