In Vancouver (Canada), until recently the market price for a "medallion" was $800,000-$1,400,000. Taxis are often unavailable when you want one. A significant p

In Vancouver (Canada), until recently the market price for a "medallion" was $800,000-$1,400,000. Taxis are often unavailable when you want one. A significant portion of the taxi fare does not got to the driver - it goes to the person they are renting the taxi/medallion from. Uber briefly entered the market using licensed limousine drivers. They were pushed out because we have a crazy rule that limousine rides can't cost less than $80-90 - the only reason for that rule is so that limousines don't compete with taxis. It's insane.