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The fact that medallions were so expensive that you could retire off owning one was the problem. There weren't enough taxis.

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The insanity was that medallions had monetary value in first place. Just imagine that you couldn't start software company unless you bought medallion from someone already operating one. Or any other business for that matter... As for each type of business there is very good reasons to limit amount of those...

Business licensure is a thing, despite not every business licence is a medallion type of licence.

that insanity was why there were professional drivers who were making a good living at the trade.

but i suppose if the only constituents you really care about are customers, the people getting rich writing dispatch/billing software and the people facilitating the construction of a massive venture capital fueled duopolistic takeover of an entire industry, this works too i guess.

again, in the nyc market, it was fine, if not very good.

most drivers i spoke to seemed to like the medallions as they offered some long term investment potential and a sort of seniority reward. there was of course big capital at play, but drivers could have complained to the tlc... what can they do now? file a support ticket?

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