That example doesn't seem parallel to me because it lacks a sudden deregulation of a very tightly controlled market (or in this case, a newly exploited loophole

That example doesn't seem parallel to me because it lacks a sudden deregulation of a very tightly controlled market (or in this case, a newly exploited loophole or lack of enforcement of law or whatever you want to call this). I think Uber / Lyft etc should either have to play the medallion game (which obviously wouldn't work) or local govts should just do away with medallions and the cities should buy them back from the people they sold them to ... as it is now, it just seems like selective enforcement of taxi laws on the guys with the yellow cars.