People are missing the point. Unless companies like Uber and Lyft can continue to raise billions of VC money almost forever, they eventually have to turn thems

People are missing the point. Unless companies like Uber and Lyft can continue to raise billions of VC money almost forever, they eventually have to turn themselves into a medallion system eventually. This or, expect drivers to get paid way below minimum wage to sustain their current pricing model. Which won't happen. So medallions are here to stay. Uber and Lyft never had a revenue model apart from subsidize-until-competition-dies. The best case scenario is Uber will be the new medallion system, the worst case will be older system will be back. The transportation and logistics industry is one of the worst industry to be in. Its a capital intensive market with very low profit margins. Minus VC money Uber and Lyft won't go too far.