In Boston, Uber drivers make much more than taxi drivers. Taxi drivers pay around $200 per day to rent a medallion from an investor (medallions were $600k inves

In Boston, Uber drivers make much more than taxi drivers. Taxi drivers pay around $200 per day to rent a medallion from an investor (medallions were $600k investments at the time Uber came in). They had to work insane hours to make a profit on top of that. Most Uber drivers are former taxi drivers, charging less, but making much more in the end, both by virtue of spending less time waiting, and by not paying rent.