Why did taxi medallions in New York collapse so hard after…
0 reactions
Why did taxi medallions in New York collapse so hard after Uber?
I was reading about the taxi medallion system in New York and was surprised by how extreme it got.
At one point, medallions were selling for over $1 million, and then their value collapsed after Uber expanded.
What I find interesting is that this wasn’t just a tech story. A lot of drivers had taken on huge debt based on the idea that medallions would keep their value.
Do you think the collapse was mainly caused by Uber itself, or was the old taxi system already unsustainable even before ride-sharing apps took off?
#business
I was reading about the taxi medallion system in New York and was surprised by how extreme it got.
At one point, medallions were selling for over $1 million, and then their value collapsed after Uber expanded.
What I find interesting is that this wasn’t just a tech story. A lot of drivers had taken on huge debt based on the idea that medallions would keep their value.
Do you think the collapse was mainly caused by Uber itself, or was the old taxi system already unsustainable even before ride-sharing apps took off?
#business
| 4,000 mlx | |
| 5 | |
| 0 |